Training 01  - Home Office

Seek Store/Office Space

 

 

Are you operating a storefront or from your home?

 

If you do not intend to immediately have a retail location, you may be able to get away with only a business mailing address and operate from home.

 

Although it is perfectly acceptable to operate from home, you should not list your home address as your official business address.  

 

Please note that using a UPS or other well-known mailbox rental offices may impact your future ability to get business credit, as they are known to be false business fronts with a potential for fraud. This is not an issue if obtaining credit is not issue. Also, certain licensing entities will require a physical address.

 

Virtual offices can be found in most cities, an office that will collect your mail and provide other office support that you may need. Check Craigslist for virtual office rental in your area.    

Home Office

Find an area of your home that can be your office/workshop. Perhaps a spare room or an area of the garage. Other than a desk, phone and office supplies, you will need a place to store your products that you are holding. Products need to stored at cool temperature and away from heat or direct sunlight.  

A box or cabinet is good.  Keep good track of your inventory. Its easy to lose control of your inventory when you give away products or personal use. Know what you have, where it went and why. 

 

 

Store Front

 

Depending on your early objectives you will have to decide what size shop space you need. An effective space can be between 500-1,000 sq.ft.  The size of your shop can be determined by your initial goals. Smaller spaces can easily be found online, such as on Craigslist or by scouting out neighborhood shopping areas. Good traffic and parking is key to drawing attention to your shop.  

 

If you are moving forward with a shop location, here are some tips that might help you.

 

Be prepared to sign at least a 1-year lease. These tips may help you save money.

 

If you can negotiate a favorable lease at the beginning, you may save some money for a few more employees or a marketing campaign. Do your homework! Has the space been vacant long? Are others competing for it now

What does the lease allow as far as signs, banners and other promotional displays?

What costs are you responsible for and what costs are paid for the landlord, things to consider are utilities, maintenance and repairs, property tax. 

What is the exact usable square footage of each space you're considering? This does not include common areas, e.g. corridors, elevators, lobbies, and bathrooms.

What are you allowed to do with the space? Many landlords may not allow CBD or cannabis related businesses.

Check the city zoning and permitting for the location.

Though you are likely to get a better price with a longer lease, you must be protected in case you grow out of your space or your plans change. Try to negotiate short-term leases, e.g. two years, with options for later years.

If your rent is to go up annually, then you should try to negotiate a phase-in period, to enable you to organize the budget for a rent increase.

 

A MioSantéUSA shop should maintain a high-quality modern look. When you are ready for this, please contact the corporate office for a consultation and assistance.