If you’re a budding entrepreneur, but you don’t have a big budget or a wealthy investor to get you started, have you considered the possibility of starting your open backyard business?
Starting a business from your backyard or even your backroom, whether you’re selling sneakers online or running your own marketing company, is a great way to start building your business empire on the smallest of budgets, but if you want to do it right, there a few things to consider…
Look at the regulations
Depending on the kind of business you plan to start and where you live, there may be various rules and regulations that you must adhere to in order to run your own backyard business. Your local council is generally a good palace to start if you want to find out which hoops you need to jump through to get things started. Just don’t start trading before you know what’s what are you could end up with a fine, your business being closed down, or potentially even breaking the law, which would not be a good way to start your life as an entrepreneur.
Have a business plan
One mistake a lot of people who set up businesses from their homes and gardens make regularly is not having a proper business plan. Because they’re doing it from home rather than an office or shop or whatever, they fail to take their business seriously enough, adopting a seat-of-the-pants approach, which means they often don’t really know what they’re doing from day to day, and that makes it impossible to run an efficient and successful business.
Build a great workspace
If you want to start a business in your backyard, you are going to need a decent workspace. Luckily, a decent shed, which you can build yourself from reclaimed timber and a few basics products from your local roof sheeting suppliers, to save money, is the ideal solution, as are summer houses and shipping containers, depending on your budget and whether you simply need office space or somewhere to store your products too.
If you can, try to set up a dedicated workspace that’s as calm, quiet snd comfortable as possible, so you can get on with building your business and being creative without interruption.
Not only should you ensure that you are insured for public liability when you start your backyard business, but you may also need to change your home insurance policy to cover business use and ensure any products you have stored will be covered should the worst happen. Chances are you’ll be on a tight budget, but don’t skip out on insurance because lost stock and other disasters will cost you far more in the long term.
If you want your home business to be legit, then you need to commit. You can’t just work on it when you feel like it; if you want to be successful, you need to put the hours in and before you know it, your backyard business will be the next big thing!