Moving Out of the Pandemic and Back Into Your Profession
The pandemic waylaid plans for many up-and-coming entrepreneurs. Although the ground remains a bit shaky, now is still a good time to start a business. Here are a few reasons why, as well as ways you can make the most out of the world in which we now live.
Austin is a hot market.
With nearly 1 million people, the greater Austin area is full of potential customers. Add that to the seemingly immeasurable number of online shoppers, a lack of clients isn’t an issue. If you’re looking to open a brick-and-mortar establishment, your buyer’s agent can help you get the best price and sort through properties so that you can focus on your business. Your agent will put you on the right track toward a commercial space that is both affordable and visible.
You don’t have to go it alone.
You already have a real estate partner on your side, but there are plenty of other helpers that can help you build your business one brick at a time. To decide what tasks to outsource, take a look at your areas of expertise. If data analysis is not your forte, for example, find a freelancer or service to execute these undertakings on your behalf. Any job that would take you longer to learn than to execute is worth the small expense of a one-time or recurrent service.
Interest rates are low.
While interest rates have started to rise, they remain low historically. And, depending on your credit and the type of financing you choose, Experian asserts that you might enjoy rates as low as 2 percent. Having a lower interest rate means that you’ll pay less money back, money which you can then put into your business, such as hiring a great staff or investing in equipment.
There are many in-demand businesses.
The pandemic took a swing at many industries, including travel, tourism, and restaurants. But there are still plenty of services that remain invaluable despite COVID-19 overstaying its welcome. Even if you are in one of the industries still struggling to survive, you have plenty of opportunities to cater to American consumers today. For example, instead of opening a traditional restaurant, consider offering a spaced-out atmosphere where parties can social distance while they dine. In the same scenario, you might also consider a mobile food business, which The Hartford also asserts is one of the better businesses to get into right now.
Remote work can save you money.
Just a year ago, many micromanagers were reluctant to allow people to work remotely. One positive thing to come out of the pandemic is that working from home is now accepted and often preferred. Even if you do invest in a commercial property, you can utilize a remote workforce for many white-color positions, such as accounting and customer service. This means you can reasonably save on office space and other overhead expenses associated with an in-person workforce. Workflow software and videoconferencing can make cubicles a thing of the past.
Starting your own business is, without question, the best way to take control of your financial future. And, given that the virus is unlikely to leave anytime soon, it’s time to adapt to our new environment. Now’s a great time to get started for the above reasons and also for your own personal needs. So move forward without fear and know that things will get back to normal one day. When this happens, you will already be established and in a great place to continue to serve your customers and your community while providing for your family on your own terms.
Mark Pustka is an Austin-based commercial real estate broker that can help you find the professional building of your dreams. Contact Mark Pustka today by calling 512-486-3737.
Article brought to you by Guest Blogger, Derek Goodman