If you’re operating your DJ business out of your home, it’s probably because of convenience and low overhead. Showcasing a modern and sleek website and having good online visibility and strong reviews can make a home-based business look just as reputable and credible as an office or storefront location.
But there is a downside. It’s difficult to juggle the different roles as a businessperson, spouse, and parent. And it’s challenging to mentally leave work when you are not physically leaving work. Leaving a physical location after a full day of work and driving home creates a psychological shut down that allows the transition from business to personal life. Your children might get conflicting messages of priorities if they’re told to be quiet at home because of a business call or meeting.
When a successful home-based business expands to a physical location, the entity usually has to grow their business substantially in order to stay profitable and it also has a greater need for financial reserves during slow times. A whole new set of accounting responsibilities ensues. You may need to hire employees or have sales tax responsibilities, which forces you to spend more time on accounting and other functions, rather than simply selling or running the business.
But what if you could have one retail location without many of the retail headaches? Consider sub-renting inside another wedding business’ location. It’s an easy way to gain more access to potential clients and referrers. Because you’re reducing the wedding business’ overhead, you can negotiate a flat rate per month. Then, you’ll have access to the location as needed, giving you more retail exposure and allowing you to mentally separate work life from home life. And as a bonus, you benefit from the free online exposure that Google, Bing, and Yahoo have that favor local retailers.
If you are looking to take this leap, now is the time. Wedding business owners are usually hands-on and easy to approach. Just visit different stores, envision if there is an opportunity to pursue, and carpe diem!
Filed Under: Business, Personal Development, Sales & Marketing, Weddings
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