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Establishing Your Business Site

Location Considerations

Once you have determined your market and are confident about your special event business, you need to find space from which you can operate. The two options covered in this section are finding and working from an office space and setting up a home-based operation.

Leasing Office or Studio Space

If your dwelling is not appropriate for a home-based business and you have enough capital to rent an outside space, you can consider leasing office or studio space. The advantage to leasing outside space is that you can invite potential clients to meet with you there.

Additionally, clients often presume that those operating outside of the home are the more successful, established organizations. This presumption, of course, is not appreciated by the many within the events field who do work out of their homes. Certainly choosing this option has the advantage of the professional image it lends to your company. Many large corporate accounts will feel more comfortable doing business with a company in an office building.

When leasing office or studio space, it is a good idea to consider the following issues:

(a) Proximity and accessibility to potential clients

(b) Parking facilities

(c) Accessibility to loading dock or freight elevator

(d) Work space and storage

(e) Type of lease agreement

(f) Shared space

(g) Security system

(h) Proximity to coffee shops, food places, or convenience stores

Proximity and accessibility to potential clients

Consider how close any potential office space is to your clientele. Make it easy for your clients to find you.

Parking facilities

Make sure you locate your office where there is plenty of free or inexpensive parking for the convenience of your clients, delivery trucks, and staff.

Accessibility to a loading dock or freight elevator

If you start to store collateral and props prior to an event, you will be grateful for easy access to a loading bay or freight elevator.

Work space and storage

Make sure your office has sufficient space for storing supplies and meeting with clients. You can lease your own space in an office building, small-business park, warehouse, or loft/studio space. Storage space will depend on the type of events you will work on and whether or not you will choose to purchase and store props.

Another option is the “packaged office.” This type of facility usually takes up the entire floor of an office building. Each company has one office space. There is one central reception area and a receptionist who can accept deliveries, take messages, and perform secretarial services for a separate fee. These offices generally have a photocopy machine and fax machine available, which all the tenants share. However, there may be cost and privacy issues when operating in such a facility. You need to ensure that your clients and suppliers will be treated well by the other businesses sharing the same office space.

Type of lease agreement

If you rent or lease space, you will need to decide what kind of lease agreement you are willing to sign. The longer the lease term, the lower the monthly rent, but you are responsible for the full term of the lease whether you are still operating the business or not. Some lease agreements will not allow you to sublet the space.

For a brand-new business, it is probably best to take a one-year lease or month-to-month rent at a higher rate until you have ascertained how well your business is going to do. Always seek competent legal advice before signing any kind of lease agreement to be sure you understand the fine print.

Before renting or leasing space, ask yourself the following questions:

(a) Is the space accessible for receiving and shipping?

(b) Is there a loading bay? What about elevators?

(c) Is there sufficient parking for delivery trucks and clients?

(d) Are there enough electrical power outlets for your equipment?

(e) Is the lighting, heating, and air conditioning sufficient?

(f) Will your lease allow you to make necessary alterations, such as installing work spaces?

(g) What type of advertising sign is permissible in your lease agreement?

(h) How safe is the area and the building?

(i) Will you be able to buy reasonable insurance against burglary and fire?

Home-Based Operation

Being able to work from home is often a deciding factor for those starting a business. For many would-be entrepreneurs, working from home is the most economical way to get started. In the event business, there are plenty of home-based operations.

You can’t choose your space in the same way you would if you were looking for space to rent or lease. However, if you do decide to run the business from your home, you will need to make sure you do not violate zoning ordinances or rental agreements (if you do not own your home). If you have space to run a home-based business, you should still spend some time researching the cost of office/studio space. This will give you an indication of what rental costs would be incurred if you ran your business in another location. Paying yourself the equivalent rent each month will give you a better indication of your profitability and the feasibility of future expansion.

Every home-based business is a unique blend of family, skills, and lifestyle. To make the blend rich and prosperous, each must be considered independently. Will your business suit your home environment? Do you have sufficient space to work undisturbed? Does working from home suit your personal style? Can you stand to be away from the buzz of a workplace? Can you be motivated while home-based distractions such as laundry, dishes, social visits, television, and sleep surround you? Think about these questions carefully.

The business and your home

Ideally, you should have a separate room for your business so that, at the end of the workday, you can shut the door (and lock it from inquisitive children). There needs to be enough space for your working needs as well as any supplies and materials you will store. Walk through your home with new eyes and visualize where you could set up a place of business. Many residential floor plans make no allowances for work space.

See if there is enough privacy. You need to work uninterrupted. Figure out where your business telephone will be. You must be able to have uninterrupted telephone conversations — they are essential to your business. A door ensures that you can separate your business from housework.

Think about noise. Will your business create intolerable noise or will other people’s noise be intolerable for your business? Most inside doors are hollow and easily allow sound to pass through. If there is potential friction over noise, it may be worthwhile to install a solid core door.

Your business should be compatible with the area you live in and cause no annoyance to your neighbors. Some area residents have closed down home-based businesses they viewed as a nuisance. In the events business, you will be meeting with suppliers and clients often, and taking up all the allotted street or visitor parking can annoy neighbors.

Remember to consider your family situation. How will you deal with child care, chores, and time with your spouse, friends, and others?

Whether or not you decide to base your business in your home also depends on the zoning restrictions in your community and the rental agreement you have with your landlord if you do not own your residence. See chapter 10 for more on zoning laws and rental agreements.

Consider your company image. There has been much growth in the number of home-based businesses in recent years, and the idea has become much more widely accepted. However, some people will not take seriously a business operating out of the home, and it is important to follow a few guidelines that will make your home-based business look more professional.

For instance, install a separate telephone line and do not let children or other family members answer that line. If you are unable to take a call, use an answering machine or a voice messaging service. Use a post office box number as your business address if your home address is obviously a residential area or an apartment building.

If you anticipate having clients visit your home office, make sure you have a designated space, close to the entrance, that is only for business and decorated accordingly. If you do not have that type of space available, it might be wise to avoid meeting clients at your home. Meet them outside your home office, such as at their place of business or coffee shops.

The primary advantage to running a business out of your home is the small capital outlay necessary to get started. Having lower overhead will allow you to invest more money in promoting and marketing your business.

A home-based business also carries numerous tax advantages. To take full advantage of these tax breaks, your home-based operation must take up an entire room that is devoted solely to your business. These tax advantages are discussed in further detail in chapter 11.

The business and your family

Most often, the spouse who chooses to work at home is the one with primary responsibility for child care. Blending the two tasks is no easy matter, particularly with very young children. The needs of the children and the demands of the business are often at odds with each other.

Consider the following options to address challenges:

(a) Work around your children’s schedules

(b) Work while your children are in school

(c) Hire in-home care

(d) Take your children to out-of-home care

Your need for child care while running your business will depend on several factors, notably your financial objectives, the time required to meet those objectives, and the ages of your children. The children, however, regardless of age, will be affected by your decision to start your business from the home. Tell your children as openly as you can about your plans. Younger children need to understand, for example, that your supplies are not available for their artwork. Older children can understand the importance of your work and help out by assuming more household duties.

Although it is crucial to explain to family members the importance of your work, it is equally crucial that you balance the time between your work and family. It is sometimes difficult to leave a home-based business behind. Many home-based business operators find themselves going back to work after dinner, late at night, or on weekends.

For your sake and that of your family, don’t turn yourself into a home workaholic. Turn off the ringer on your phone after hours, and really consider a separate, self-contained work space. Closing that door at the end of your work time gives you a clear dividing line between work and family needs.