In March of 2012, I officially
opened my business "Awesome Possum Tutoring & Consulting." I have
to say it has been fun, a lot of hard work and worth every minute I put into
the business to be at home full-time with my kids. I have written this blog
entry based on my experiences starting up and maintaining a successful home
business. I hope my blog can help you or someone you know along the way in
doing the same. All the best to you!
Here is a super awesome helpful guide oh how to start up your home based-business in British Columbia.
Q: Do I have an appropriate space in my home or can I make one?
A: Yes, I bought the townhouse with the idea in mind that I would have a workspace for tutoring clients. I was fortunate enough to have this plan well in place before my first son was born so I was able to find a place that fit my needs. My office is on my lowest floor, it has front door entry, a good size to house my tutoring materials, desks, office supplies and books and it has an attached bathroom.
Q: How well would this type of business do in my area?
A: Since I live in a suburban area and close to many schools I knew it would be well received. Also, I researched other tutors in my area and there are not many Orton Gillingham based tutors and the demand is high with no sight of declining.
Q: Does your home have good street parking and easy access? Is it near transit?
A: Yes, I am fortunate I have 6 visitor spots in front of my house as well as the bus goes by my place every half an hour. I also have a corner unit so there is ample waiting space beside my unit as well.
Q: Do you live in a strata? If yes, what are their rules for at home businesses? Does your business and all activities fall under their guidelines?
A: Yes, I live in a strata and I read the by-laws before buying into it. The rules state that I can have a home-based business provided I have a reasonable amount of come and goers and I show no signs or
advertisement for my business on lawns, windows or doorways. Lastly, you must have no outstanding fines, fees or levies with the strata.
Q: What are your city guidelines with home-based businesses?
A: I am allowed to have a home-based business if I have a limit of 5 visitors/day including clients and deliveries. I must abide by all strata guidelines or I could lose my business license. Also, I must receive an original letter from the strata counsel agreeing to the business being located on strata property to be made available when applying for a city license. (see below)
Q: What are my overheads? What do I charge for product and/or services? (Do your research on other competitive companies in the area)
A: I acted as if. I am not an accountant so made a list of all the possible expenditures I could potentially have to make in my first 6 months as well as factor in potential clients and income. I played with the numbers and found a happy budget to work with. I also picked up the phone and called competitors to see what they charge. You can also look online for these types of career job market research. Remember you may not make money in the first couple of months and that is ok! Give yourself a deadline on your financial goals. This will help your make it or break it debate.
Q: Is the market saturated or is my product or service in need? Is it a growing need?
A: There are plenty of websites to help you with this research and don't be afraid to pick up the phone and ask questions as a potential customer.
Q: How much time will this take away in a typical week?
A: Map out your valuable time, do this liberally. Do not be conservative with your time allocations to tasks; you want to make sure this is an attainable business for you. Staying up all hours will only burn you out faster.
Q: Where do I start? Name Registry in BC.
A: Go to the Name Registry in BC online http://www.bcbusinessregistry.ca/nameapproval.htm
Go here to check to a see if your business name is available to use. They have great tips on this site on how to pick and name and the dos and don'ts. This will cost you under $50, dependent on your municipality. Once you have a name registered the registry will give you a business reference number. Hold on to this for the next step. This process will take approximately 3-5 business days.
Q: Then what? BC Business Registry.
A: Go to BC Business Registry online: http://www.bcregistryservices.gov.bc.ca/bcreg/corppg/companies/index.page Find your type of business and fill out the necessary paperwork either online or hard copies. Do read the fine print on this page. Depending on your business you may have to fill out additional forms or register with additional organizations based on health standards etc. This process will take approximately 2-4 weeks. Once you are approved you will then receive a business number.
Q: OMG then what? City License Registration
A: Go to your local city hall and apply for a city business license. This will be the only license you will have to renew and pay for annually if you are simple straight forward business like mine. Most municipal licenses are under $100 for the year. This process will take approximately 2-3 weeks. Once you are approved and you meet all the regulations and guidelines you will receive a paper license in the mail. Get a nice frame and put that sucker on the wall, you earned it! The license is required to be in a conspicuous place at your business site. Also, make copies before putting up, this will help you later. Lastly, check out what your municipality does for its businesses, you never know there might be some perks!
Q: Do I need insurance?
A: You always need insurance whether it is for loss or liability. Go to your current insurance broker and try to get a rider on your current home insurance. Business policies are expensive and will suck you dry but home-based business riders are affordable and easy to do. Let the broker guide you, that is what they are there for! Don't be afraid to shop around but not your rider has to be with your current home and contents insurance or you will have to move the entire thing.
Q: Advertising - what did you do?
A: Since I cannot post any signs on my windows, lawns or doors I turned to Facebook where I made an awesome possum consulting page. I got myself signed up on LinkedIn, tutoring email lists, contacted local resource centres and libraries with my business cards and brochures. I gave away free lessons as part of gift baskets and raffles. I had advertising magnets done up for my car. I volunteer at my son's school with the Talking Tables program and with reading. I signed up for the annual Christmas tree decorating competition between all the businesses in my home town. I participate in city events. I go to school board meetings and I am a part of my son's school PAC. I wear my Awesome Possum hoodie and baseball cap with pride. I talk about what I do. I have set up vendor tables at events such as craft fairs and marketplaces. I have posted my logo-ed items on community notice boards. I offer a free session to any current clients who successfully bring in a new client to me. You name it, I have done it!
Q: Facebook! What did you do exactly?
A: Facebook is a whole other cat. You can take classes on how to maximize the site traffic on your business page. For me personally, I know Facebook is based on algorithms so I based my posts on contests like free sessions so people would share my info. I would post random fun words facts to catch people's attention. I offer a free session to those clients who book with me through Facebook. I keep my posts fun, positive and usually with something to offer.
Q: Where did you get all your logo and all the logo stuff made up?
A: Vistaprint -they are pretty amazing. It was a one stop shop for me. I also frequent the local print shop when I need something next day.
Here are some other helpful hints:
- Take notes on everything, even it seems ridiculous
- Make a Excel spreadsheet for all your finances if you do not use a bookkeeper.
- BC business taxes are not due until the end of June.
- Always keep a stack of business cards on you; you never know when you will need one.
- Keep info on your clients/customers this will help when you offer a new service
- Save all your bills, receipts and invoices for tax time and file it all straight away.
- Do month end reconciliation, don't put it off, you want to track everything!
- If you do not have a bookkeeper Turbo Tax is an excellent program for first time business tax users.
- Document all your gas expenditures, travel and keep receipts. Credit card bills are acceptable!
- You can write off so much off at tax time... http://www.cra-arc.gc.ca/tx/bsnss/tpcs/slprtnr/bsnssxpnss/menu-eng.html#expenses for a full list with guidelines. (Cell phone, bridge tolls, insurance, etc!)
- Schedule time in to work! It is too easy to procrastinate. Set boundaries with your partner and children with time and space.
- Change what doesn't work and cut the redundancies. For example I changed my pay scale six months in as it was too labour intensive for a sliding scale and I wanted more public transparency with what I charged. Having said that I can take on a student of the parents or guardians are struggling financially.
- Keep a do to list
- Dream where you want to go with the business. Write down where you see yourself in 5 and 10 years.
- Follow your instincts
- Keep a blog - if appropriate
- Participate in community events - give back!
- Try to think 2 steps ahead, never be 100% complacent, and always question things that do not make sense to you.
- Create! it is your business, have fun with it!
- Love what you do!
- Thrift shops and Craiglist are GREAT places to acquire office supplies, decor and office equipment. Don't spend all your money on super fancy office items. Go for classy with the guise of it being cheap, easy, or free!
- Keep your clients informed about new products, services and events. There are new federal laws about sending informational emails to customers. Be sure upon them subscribing they agree to you sending them unsolicited information.
- Keep relevant, move with the times, trying not to get stuck or stagnant. Attend seminars and classes, they are out there and most of them are free! Check your local library, non-profits and newspapers. "Like" Facebook pages that help your cause.
I will keep adding to this list as I go on...
I hope you find this helpful! If you do pass it along! If you don't well I can't give your your time back but I can give you a hug the next time I see you. I do not have a business degree, all this above information is based on my own personal experience. Take what you like and leave the rest!
If you have any questions feel free to email me at awesomepossumconsulting@gmail.com also, like my Facebook page for awesome possum super fun facts on spelling, writing, word origins and other wordy word type things. https://www.facebook.com/pages/Awesome-Possum-Tutoring-and-Consulting/192510507539462
Cheers!
Courtney C.
Sole Proprietor of Awesome Possum Tutoring & Consulting and CEO of the Catt household
The City of Port Coquitlam - Nominated Home-Based Business of the Year 2013 & 2014
Runner-Up Port Coquitlam People's Choice Award 2014
Runner-Up Port Coquitlam People's Choice Award 2014
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