When I started my business I worked out of my house. With small kids the house always looked like a bomb went off, not to mention I am not zoned for client visits. So I had to meet client’s elsewhere.
This was a limiting prospect on my business. I had grown as much as I could while being housebound.
So I went from a “Garage Business” to a real business.
I have a client where it is estimated that 90% of their competition is a garage business, I believe they got this figure from a trade publication. Because the vast majority of their competitors generate revenue of $100,000 or under.
Garage businesses tend to be frowned on by most governmental authorities; because they are always looking for their cut of the business, whether it is a fee, license or sales tax or income tax. Let’s not even get started on having an off the books employee.
I am sympathetic to a small start-up, most of us have been there, but we have passed on client’s who seemingly want to run their business not completely according to proper business ethics.
In the beginning I missed out on clients, because they thought I was not serious, I would encourage all garage businesses to run their businesses like a business on an ethical plain. SO when the time comes to step away from the home it will be possible and easy.
For assistance with this planning contact us for help.