If there’s one thing the pandemic has taught us, you can run a successful business from just about anywhere.
Now that companies are waking from their WFH slumber, many are choosing to return to the office.
Instead of setting up shop in dull office blocks, businesses want to incentivize the return to office. According to deskbird, about 90% of companies with office space will have a full return on-site by the end of 2024.
However, employees are returning to full-time office work on their terms. They want a better work-life balance and a fun office culture. A residential business could be described as the best of both worlds.
As with any business, there are important things to consider before making the big move. In this article, we’ll discuss four factors to consider before moving your business to a residential property.
#1 Pest Control/Pet Waste Removal
Moving your business into new digs is exciting. Sometimes, you can find a few surprises while making yourself at home. Now’s a good time to bring in a pest control company.
If the previous tenant had pets, employ the services of a company specializing in pet waste removal and deodorization. Very often, the previous tenants or owners have their dog waste removed, but the smell lingers in the backyard or garden.
Welcoming clients to your premises won’t land you any jobs with a stinky yard. What you need is a product to neutralize the odor. You have two options.
Purchase something from the drugstore or hardware store and pray it works. Or, get it right the first time with professional help.
These companies use non-toxic deodorizing treatments on your lawn and all hard surfaces. The natural enzymes neutralize any lingering pet waste or urine smell, advises Scoop Soldiers, a pet waste removal service.
#2 Operational Permits Required
Many are under the illusion that home-based businesses don’t need to bypass red tape. Unfortunately, that’s not the case. Depending on the type of company you’re running, it might be harder to gain permits if you’re operating from a private or residential office.
Investopedia says specific licensing, permit, and zoning regulations can vary based on your location. If you’re a startup, the U.S. Chamber of Commerce has a comprehensive list of business licenses and permits needed.
Every business must obtain a general business license. This legally permits your company to engage in activities within the local jurisdiction. Don’t forget to ensure your business complies with local zoning ordinances, reminds Investopedia.
#3 Operational Costs
The biggest upside of a residential business is the cut in operational costs. According to Booking Ninjas, commercial properties cost more than residential because of the high maintenance costs.
The IRA has 26 federal energy tax incentives. These include tax credits and a tax deduction. Many businesses qualify for the incentives as long as they utilize renewable energy.
To qualify for the energy tax credits, Bloomberg Tax reports that companies must invest in the following green energy resources:
- Solar/wind energy
- Hydrogen power
- Zero-emission nuclear power
- Photovoltaic electricity
#4 Employee Safety and Well-being
Moving your business to a lush suburb or quaint Victorian home sounds like the answer to employee burnout. It does however come with its drawbacks.
Office parks and buildings have strict security protocols, ensuring the safety of all who enter the premises. You might not be afforded the same luxury at a residential or home business.
Workplace safety is a fundamental human right. It’s your job as an employee to protect that right. And yet, the latest stats reveal workplace safety is on the decline.
Forbes reports that workplace mental health and well-being have been decreasing since 2023. Another survey from the American Psychological Association (APA) found that younger workers felt lonely, stressed and undervalued.
Although companies are advocating for a full return to work, others have instituted the hybrid model. APA suggests giving workers the option of where, how and when they want to work. They’re more satisfied when given the freedom to decide.
Giving them a sense of autonomy increases motivation and performance, says APA. Managers can play their part by being more flexible about working hours, as long as staff get the job done.
Operating a residential business means trading a set of problems for another. That doesn’t mean you shouldn’t consider it. Maybe a change of scenery and pace is exactly what your business needs.
Before signing the lease, do your research on the area. Ask yourself, is it safe? Will my staff be happy here? Is it worth the move?
