Starting a business from your dorm room is admirable. Few other people your age will have prospects this positive. You’ve started in the entrepreneurial world young, and that can only work in your favor.
But, there is one issue about dorm room business we often fail to consider – your dorm room. Starting out in your student accommodation may be admirable. But, it’s unlikely your clients will think the same. Especially when you lead them into a dimly lit dorm with your roommate asleep in the next bed. It hardly screams ‘professional’.
As such, it’s likely you want to expand into a proper business setting. But, that costs money and can seem out of reach, even when you start to see success. In truth, though, business premises might not be as distant a goal as you think. Here are three ways to make sure it happens for you sooner rather than later.
A place to keep your profits
As this is probably the first real money you’ve made, you may feel the urge to spend it as soon as you get it. You might want to treat yourself to all those things you couldn’t afford before. There’s nothing wrong with that, and you should treat yourself to start with. But, there will come a point where making 5 figures won’t do you any good unless you set it aside. No matter how you look at it, you’re going to need to save money if you want a business space. That means putting your profits straight into a secure account.
Buy land for less
You may also want to focus on buying land instead of property. Plots of land, like those found at https://www.landwatch.com/Land_For_Sale, are often significantly cheaper than a building. That means this will become a possibility for you much sooner than buying an office space would. Do some research here to get an idea of how much you would need behind you before you could invest. It may also be worth checking out how much it would cost to build your space. Though, bear in mind that figure may not be set in stone because you can always…
Cut costs on construction
While construction costs shouldn’t put you off, you do need to consider them. You can be sure you’ll achieve construction much faster if you think about ways in which you can save costs here. From a structural point of view, that means turning to services like micropiles, as outlined on sites like www.helitechccd.com/services/deep-foundations/micropiles/. These are cheaper than many structural steps you could take and are well worth your time. When it comes to the actual building process, this means shopping around for the best priced builders you can find. It may even be worth playing companies against each other to get the best deal.
Following one, or all the above pointers could see you out of the dorm room in no time at all. And, isn’t that the time when your business really stands to take off?
No comments yet.