should i move into a unit or stay working from home?

[Phill Fenton]

It all depends on the size of unit you are taking on John.

My belief is that you need at least two people working to be able to produce the sort of turnover required to cover all your costs and yet still be able to generate sufficient profit to make it worthwhile. But of course that depends on the size of unit you are taking on and the cost of this to you.

I would add up all the additional costs this unit will add to your overheads (rent rates, heating lighting etc.) deduct that from your current profits then decide if you would still be making a sufficient profit to make it worthwhile.

Yes a unit will generate more turnover, and you will be able to take on work that you may not otherwise have been able to do if working from home. But will you be able to cope with the extra work you would need to be turning over on your own?

In my situation there are two of us working. I do not believe that I could make it work as a healthy viable business if I was working alone. I would either need to take someone else on – or work from home.

[John Harding]

Hi Phil

thanks for the thoughts, I estimate the extra costs to total approx 8k per/annum so need to do this above what I currently do hence wondering what i might reasonably expect as extra passing trade etc and I am considering roping her indoors to man the office and do bits n pieces when I am out and about or fitting etc

John

[Russell Huffer]

John,

I am a one man band in a unit I do not have enough space to work from home as my new unit is 120sqM.
I get no passing trade as I am based in an industrial centre with 12 other business, the downside of this setup is not much advertising space on the outside of the build especially as my unit is round the back so just my company name on the the shared sign at the front. The real upside of this setup for a one person on his own is getting items delivered / collected by couriers, altough I may be out when they deliver normally someone in the building supplies a signature, if i need stuff picked up when not there I can leave stuff outside my unit door ie accesable but not on the street. The other advantage is cost sharing a building is the cheapest in my opinion, I pay peanuts for my electricity as the landlord pay the bill then recharges according to each meter however as one of the clients uses over 2K a month we are on a favarable high user unit cost.
I have worked from home and unit and find leaving the house and going to work focuses me much better than working from home and even though I had no passing trade I have grown my busines alot since taking on a unit.
Bottom line is if you have the funds go for it, you will grow and it looks far more professional.

[Chris Wool]

depends on your home set up. 8k /year is one good job a week on top of what you do.
a unit will invite new customers as walk ins i was on my own in a small unit for about 6 years nice friendly est and we looked after one an others parcels, try to pick a area that brings outer trades to it.
on our 15 unit est there is a tyre co and a tool hire co that bring new people in on a regular basis.
i bet that within 5 days of putting you own sign up you will have the jobs to pay for the unit for a month.

chris

[Peter Mindham]

quote John Harding:

Hi Phil

thanks for the thoughts, I estimate the extra costs to total approx 8k per/annum so need to do this above what I currently do hence wondering what i might reasonably expect as extra passing trade etc and I am considering roping her indoors to man the office and do bits n pieces when I am out and about or fitting etc

John

8K extra a year. Remember, you don’t need 8k extra business a year but 8k extra margin. Obvious I know but easily overlooked when faced with this dilemma

Peter