I had trouble choosing my spare bedroom upstairs or converting part of my family room downstairs. Eventually I choose upstairs for less noise.
I had to take into account the trip upstairs every day. Not only high traffic with my wife and son but also accounting for coffee spillage on the carpet from time to time.
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I had trouble choosing my spare bedroom upstairs or converting part of my family room downstairs. Eventually I choose upstairs for less noise.
I had to take into account the trip upstairs every day. Not only high traffic with my wife and son but also accounting for coffee spillage on the carpet from time to time.
I started in our master bedroom upstars, graduated downstairs taking over the family room, and from there moved out into a rented office. By that time I had two other employees.
In all seriousness having an office has benefits and many times I've considered it. Still do from time to time - there are obviously downside with working from home.
Unless you plan on having some type of retail location and following a State Farm model which relies on a community presence and clients coming in to see you, I'd look into either shared space or an office in one of those 3 or 4 story office complexes that's not located on a main drag - they tend to be very affordable.
Also, in this economy there's no better time to look. I friend of mine (unrelated business) just got his first three months free renting space in an office that has been vacant for over a year.
I might be looking into shared space just to get my a** out of the house.
About 6 months after I moved in they built HUD apartments - only about 400 of them right next door. The good news is I don't have to drive as far to get my crack now - which is really convenient.
You guys are some damn comedians. I currently work out of the dining room. Like they said if you do P&C then you'll want to be somewhere people can see you. If you're writing L&H than you can get a cheap place because it is highly likely that you're not going to see anyone.
Can anyone tell me what demographic information they find most helpful when considering a location for a new insurance office.
Thanks!
Only advise I can give, it make sure they have DSL where ever you place your office. I can't live without it. Also, the bigger the city the better. Also, a high traffic location is great.
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Mark Rosenthal aka markingriffin
IMO/Ins Agent/Agent Trainer/Free Advice markcrosenthal@aol.comwww.realfastservice.com
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About 6 months after I moved in they built HUD apartments - only about 400 of them right next door. The good news is I don't have to drive as far to get my crack now - which is really convenient.
Seriously, Mark is right, DSL is essential and I'd add that it may be good that you have room to grow and, lastly, make sure you really chart all of the applicable costs involved:
Rent
Gas
Electric
Insurance (E & O, etc)
Phones
Equipment (desks, computers, etc)
Toilet paper (very important)
Coffee (see above, LOL)
Anyone else, please respond with anything I may have missed?
Can anyone tell me what demographic information they find most helpful when considering a location for a new insurance office.
Thanks!
If you are looking for a community presence, pick the busiest road that you can afford to be on, that will allow you to put up a really good sign. Many good location restrict the signage and that is very important.
Here is a short list of some things you need to consider, if you wish to move out of the house.
What are you using now that you don't like? It would be easier, and cheaper to make a few changes around the home office. Change rooms etc..
Do you, or will you have any employees? Whose going to answer the phone? What will you do when, if, you have to go to a clients location?
How far from your home is this location. You'll have to drive there and back at least once a day, and many times, multiple times a day.
What about lunch, bring it with you, or eat out everyday? Those little costs add up quick.
You will have to pay for phone, internet, insurance, office supplies, upkeep and furnish this location. Computer, fax, phone, desk, chair, file cabinet, coffee, fridge, trash, lawn & snow care etc..
Don't forget taxes, many local governments have a business use tax on commercial real estate. Some require a Business License.
New service for a business phone line, and utilities usually means a security deposit. Not to mention a rent deposit.
A sign will run you from $450 to $3000 or more, depending on the size, one sided sign or two sided sign, and the location of the installation. May have to seek local government approval first.
What is the term of the lease? What happens if the location doesn't provide the traffic, or work environment you need?
A month to month lease would work, but a 1 to 5 year lease could spell trouble. Also depending on your lease, you may be responsible for the property taxes, and water & sewer.
How well disciplined are you to go to work every day? At the beginning it will be all fun and games, but sitting there day after day, hour after hour gets old quick. Especially, if your phones not ringing.
I would say a good rule of thumb is figure your location will cost you 2 to 3 times the cost of your rent per month to operate. That's without employees.
Maybe that home office isn't so bad after all.
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Possitives and negatives to both, I had an office when I was doing my Engineering and Design work because I had clients coming over quite often. Since I have been full time with the new business, I am at home again. Mainly because my work is about 95% online. and I have good high speed internet here.
Down side of working at home. I started work at 7 am today, and will still be working on things till about 3 am... sleep 4 hours and repeat.
I have a little bit of a work addiction.
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Considering a new office
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