Category: Internet Marketing

Settling Business Interests After a Divorce

Home Business Magazine Online

In the wake of a divorce, it is common to wonder what will happen to your business. Often, the focus of couples will be on child support. It can be easy to forget the other financial agreements and legalities arising from a split with your spouse.

When building a future, it is possible to consider setting up a business and running it together. After all, you have to think about your future as a family. When running the company, the couple may have different roles and contributions. As the marriage crumbles, it can be easy to think that the person who “contributed” more to the business will get more. However, it is not always the case.

This article will discuss how business interests can be divided after divorce.

Division of Assets and Liabilities

One of the things to consider first is the division of assets, which depends on the state that covers the marriage. The state will decide if the asset division will fall under community property or equitable distribution.

As with assets, debts and other liabilities during the marriage are also divisible, regardless if only one partner is responsible for acquiring them. The business assets you own after the divorce are different from the personal assets owned before the marriage. Business assets include cash, accounts receivable, inventory, and real estate. You may also have the equipment, such as computers or vehicles, purchased during the marriage.

When looking at your business assets, it is essential to know that there are two types of property: community and separate. Community property is any asset acquired during the marriage, including real estate. If you and your spouse were equal partners in the business, then any income the company generates would be considered community property. A separate property is something owned before marriage or during the separation period after divorce.

Dividing Business Ownership After Divorce

A company may be one of the most valuable financial possessions one can own. It can be scary to think that all the hard work will be lost after a divorce. That is why it is essential to consider whether the business is a marital or non-marital asset.

If you and your spouse have separate businesses, dividing your wealth is straightforward. This is, however, dependent on whether your organizations are incorporated or not.

Unincorporated Business

This business type is not an asset. However, all that makes up the company may be considered assets. These assets may include:

  • Offices (if owned);
  • Equipment, tools, and vehicles used to run the business;
  • Business financial accounts;
  • Business debts; and
  • Business goodwill, including name value and ability to earn in the future.

Incorporated Business

Some parties may register their business as a corporation. With it, they can separate their personal and business assets and liabilities. When it comes to incorporated businesses, the law recognizes shares as assets. They will determine the value of the assets and liabilities and divide it by the shares owned. Value determination is similar to that of an unincorporated business.

In case of a divorce, a spouse can divide the corporation shares or receive assets from the business. Based on the legal guidelines, these assets must be divided 50–50. You retain company ownership if the company is brought into the marriage. However, any increase in the valuation of the company during the marriage should be shared evenly.

If the company were an inheritance during the marriage, it would not be included in the division of assets. However, the other partner may have a stake in it if it is intermingled with other marital assets.

After a divorce, the parties can ask for a formal business valuation. Once the valuation is final, the equalization process determines the amount the owner must award to the non-owner.

Registering the business as a limited liability corporation (LLC) does not offer protection from the division of assets. While some courts will not dissolve the business, they may adjust ownership interests.

If you are keen on keeping your operations intact, it may be best to compensate the spouse for their business interests. It is also possible to have the partner take a property of similar value to pay for their company share.

Protecting Your Business Ownership During and After Divorce

It is vital, as a business owner, to ensure that your business has protection during and after divorce. If you married a Canadian, you have up to two years from the conclusion of the marriage to claim a property division.

If the relationship is beyond repair and divorce or separation is inevitable, it is best to work with a lawyer. Choose one that specializes in complicated cases and can help you divide business assets.

Final Comments

Dividing your business assets and interests can be difficult after a divorce. However, if you can identify and protect your investments early on, it will be more straightforward.

The post Settling Business Interests After a Divorce appeared first on Home Business Magazine.

Original source: https://homebusinessmag.com/management/legalese/settling-business-interests-after-divorce/

Office Rent Options for Small Business Owners

Home Business Magazine Online

Small enterprises can rent some of the most well-liked private offices. During the workday, there is a reduction in distractions when working in private workplaces. Some businesses invested in a private virtual office due to COVID-19. Businesses may enhance productivity and attention while ensuring security with the help of a productive area. Due to the tight quarters of a small business, collaboration boosts even more. Attaining a private office as a small business owner can lead to a more effective team and workflow.

The most sought-after private offices for small businesses to rent include the following:

Professional Office Space

It is obvious to clients, customers, and the neighborhood that you are a genuine firm with expansion plans when you have a professional office space. In contrast to communal spaces or working from home, an office setting exists solely for commercial purposes, which fosters a distraction-free workplace.

Traditional Private Office Space

For small enterprises, traditional private office spaces are appealing. The best candidates for this type of space are businesses that provide financial services, such as banks, legal firms, or hedge funds. Most conventional floor plans include a lobby, boardrooms, and individual offices. You can provide each employee with a quiet, private office so they can work without interruptions. Traditional private spaces are available to rent, but you often have to sign a lease for at least three years. For small businesses, traditional private office rooms are undoubtedly popular. Traditional offices are typically preferable to other options like coworking for small businesses that appreciate their privacy.

Creative Private Office Space

A creative private office is yet another popular rent option for small firms. Both regular offices and co-working spaces can have creative layouts. Design, aesthetic, and layering vary from one location to the next. Creative workplaces typically feature wood flooring, high ceilings, big windows, wet pantries, and few walls. Less separation between desks emphasizes collaboration in this style.

Creative offices encourage collaboration, transparency, and teamwork within the entire organization. Because they typically have fewer employees who must work closely together, startups and tech organizations tend to like this layout more. Undoubtedly, as a tiny company, you might wish to think about renting a unique private office space.

Small Offices with Privacy

To rent a tiny business office, look into private offices in your neighborhood. This area provides improved security, thanks to a lockable room and private workstations. You and your staff get a private, quiet location to work without having to worry about your stuff.

Furthermore, the office is frequently already furnished, has Wi-Fi, and is open for business. A cost-effective option to operate your business is in small private rooms. Only the portion of the common area and breakout rooms used by your organization will be charged. Small private offices are popular for small firms that wish for their staff to feel secure and calm. By choosing single office space for rent in cost-effective packages created to fit your financial needs, you can now improve your company’s performance and make sure you can achieve your goals.

Open-Plan Office Space with Privacy

Small businesses may decide to rent a private open-plan office spaces. Ensure your office has an open layout so your staff can work comfortably within the room. Teams that collaborate should be grouped and placed in the same location. As a result, there is less foot traffic while maintaining the ability to communicate. Furthermore, you have access to a lot of natural light and can best use every square inch of space. Choose an open-concept arrangement for your company when setting up cubicles or workstations. In either case, staff members can customize their spaces and won’t feel confined. Without a doubt, consider renting a private open-plan office space for your small business.

Private Offices with Flexibility

Hire a flexible private office space if you want to expand your small firm. Flexible spaces are serviced workplaces, just like little private offices. You get a completely furnished, secured, and internet-ready space. Thanks to this facility’s flexibility, you can expand your company’s space as your firm expands. As you add more employees, you can increase your space.

Why commit to a full-time position when you only need an office part-time? With flexible office space, you can rent daily office space as and when you need it, saving you serious money.

Furthermore, you can lease your office for anywhere between 1 month and 12 months. Of course, if you decide to remain longer, the rental fee can be raised. Small firms seeking to expand and flourish are fond of flexible private office spaces.

There are many different types of office space for rent, so you can simply find something that fits your needs and your budget. Whether you are looking to impress clients with a gleaming new office or a large office space for rent that requires a meeting room in the city to deliver a presentation, there are several options.

If you’re renting office space, it’s crucial to work with a trustworthy business. Businesses should be very clear about the services they need and the particular location they want. It’s crucial to locate a workspace where the firm can prosper.

Conclusion

Small firms can rent a variety of well-known private offices. Since employees can have their own private offices to accomplish daily tasks, traditional private office spaces are popular with small enterprises. You can also lease a unique private office space where you can customize the design and promote better staff collaboration.

Rent a modest, private office to ensure your staff is relaxed and has access to private spaces where they can work quietly. Of course, you can also go for a conference room which will foster more collaborative efforts.

Flexible private offices are well-liked areas for developing small firms. This enables you to alter and enhance your area as your business grows. Small firms most frequently rent these private offices.

The post Office Rent Options for Small Business Owners appeared first on Home Business Magazine.

Original source: https://homebusinessmag.com/businesses/success-tips/office-rent-options-small-business-owners/

3 PPC marketing trends to keep a pulse on in 2023

As we begin 2023, it’s a good time to reflect on the macro-level trends we’ve observed last year. 

Here are a few trends that I believe have some staying power and should be considered as you build out your 2023 search marketing strategies.

1. A slow economy and heightened focus on efficiency

In case you haven’t heard, the economy has been struggling (that’s a joke). I graduated with a degree in economics, but like most of us, I have no idea how long this downturn will last. 

That said, I think many digital marketers are already feeling the impact.

  • Budgets are tightening.
  • Teams are getting leaner.
  • Questions such as “What’s the ROI?” or “What’s the CPA?” are becoming more prevalent. 

These environments are tricky to navigate and I certainly don’t have all the answers.

However, the advice I usually start with is leaning into your data. Make sure you have a deep understanding of your top-performing tactics and maximize your investment there first.

An analogy I often use is the concept of a sports team in the playoffs. When it comes to crunch time, a coach will always put their best players in the game for as much time as possible. Those players who are still developing are likely going to be watching the game from the bench. 

Take this same mindset when it comes to your search strategies. If your budget is limited, prioritize your investment on the tactics driving the most return. 

I’m sure many of you reading this are saying, “Yeah, thanks for stating the obvious.” But when I say this, I don’t mean simply consolidating to a brand keyword strategy. Instead, you should: 

  • Dig into the various segments of your campaigns’ performance. 
  • Understand what devices, audiences, geos, times of day/days of week, and campaign types drive the most efficient performance. Focus your investment on those combinations of segments first.
  • Consider creating a more granular campaign delineation to more effectively skew spend toward the top-performing combinations. 

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2. Automation vs. autonomy

This debate originated well before 2022. However, I do think the heat was turned up a bit last year with:

Machine learning is getting stronger and will continue to be woven into campaign management platforms.

I believe that to be successful in 2023, you must best balance the power of automation with the autonomy required to achieve your stakeholder’s objectives. 

Think about when you are setting up an automated bid strategy. Part of that process is providing the algorithm with business-specific guardrails that it should operate between – and toward. The better the inputs you provide, the more closely your results will align with your objectives. 

I think that same mindset should be leveraged with applications of AI more broadly in campaign management platforms.

Automation reduces the resources required for foundational tasks. But, we still need to guide it to work toward our business objectives. 

More tactically, think about what datasets you can incorporate. The more inputs you’re providing, the more data points that these algorithms can use to inform the optimizations and recommendations. 

In addition, think about what levers you need to maintain control over and where you can free up your grasp by relying on machine learning to make the optimizations for you

Lastly, consider how to structure your accounts to allow the automation to perform best. 

That balance of automation and autonomy will differ based on the complexity of your strategy.

Advertisers who have the best understanding of what this balance should be for their business stand to benefit.

3. Microsoft on the rise?

What would an article like this be without at least one opinion that is a little “edgy.” Buckle up, folks!

I’ve been pretty impressed with the updates that came out of Microsoft last year. They’ve not only expanded their ad offerings but also their geographic reach by about 70 new markets. 

Microsoft Advertising has always touted their lower costs and comparable features to Google, but we are starting to see some innovation (i.e., Multimedia Ads) unique to the platform.

Let’s be clear – I’m not expecting a significant shakeup in search engine market share. However, if you haven’t looked at innovation opportunities on Microsoft Advertising, now might be as good a time as any. 

The (generally) lower CPCs make it a solid testing environment and much of the innovation they’ve incorporated can help to improve conversion rates. 

Improving conversion rates combined with cheap CPCs sounds like an opportunity worth circling back to in budget-constrained environments. 

This recommendation is particularly relevant for B2B advertisers, as Microsoft Bing is an engine where we have seen particularly strong engagement, likely due to research taking place on work devices.  

Search marketing’s staying power in 2023

Now is an incredibly exciting time to be in search marketing. The platforms are making plenty of updates that it’s hard to keep up.

Search marketing is one of the most powerful tools in the digital marketing toolbox. Other than search, there are only a few other environments where users indicate their interests so clearly. 

I’ve highlighted a few of the trends I’m keeping a pulse on, but in our fast-paced industry, there are likely plenty more trends that you will consider as you build out your 2023 strategy. 

The post 3 PPC marketing trends to keep a pulse on in 2023 appeared first on Search Engine Land.

Original source: https://searchengineland.com/ppc-marketing-trends-2023-391165

Webinar: Keep customers engaged post-holidays and all year long by Cynthia Ramsaran

Business Finance

Your holiday campaigns were a success but keeping customers engaged throughout the rest of the year can be hard – particularly if you operate in a highly competitive market.

Join our live, interactive webinar with Kate Richardson, Director of Customer Retention Marketing at Artifact Uprising and Toby Yuen, Customer Success Manager at Blueshift and discover proven ways to keep customers engaged and purchasing more.

Register today for “Keep Customers Engaged Post Holidays and All Year Long,” presented by Blueshift.

Click here to view more Search Engine Land webinars.

The post Webinar: Keep customers engaged post-holidays and all year long appeared first on Search Engine Land.

Original source: https://searchengineland.com/webinar-keep-customers-engaged-post-holidays-and-all-year-long-391195

How to build a ‘helpful’ content strategy for 2023

Between the roll-out of the helpful content update and the emphasis of E-E-A-T on every query and search result, Google is clear about the significance SEOs should place on good, valuable content in 2023.

Given that, I’d like to break down the approach, process, and resources my team uses to tackle content this year. 

I’m not just talking about a content calendar, which is one facet of your content strategy. I’m talking about using your audience understanding and your organization’s branding to build a content system that provides genuine value. 

The right approach for valuable content

The emphasis on quality and value in content is good for marketers, even if it shifts a bit of focus away from quantitative metrics like clicks and external links. 

Producing good content will rely on a rich understanding of your audience, good fundamental content structures, and solid delivery methods – marketing skills that will always be relevant.

Start with your audience. Who are they? What do they need? What content should you deliver to help them get there? 

Approach content like any other product or service:

  • Find or understand a need and address it.
  • Know the emotions (fear, uncertainty, urgency, etc.) in play.

Here’s an example of a valuable piece of content that’s rewarded with a top spot in the SERP even though the title and query aren’t exactly aligned.

when to panic in crypto

Click into the article, and you’ll see NerdWallet’s helpful, on-brand approach to a knee-jerk question. They offer calm, informed content that gives context around the latest crypto crash and guides readers to consider their full economic picture before making any emotion-driven decisions.

Developing a voice that addresses an understanding of problems is valuable, hard to do, and, most importantly, a competitive edge.

Content that helps advance brand differentiation, as the NerdWallet piece does, makes it much harder for your competition to poach your audience by upping the trust ante.

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Building a process to create valuable content

The content strategy path I like to prescribe is as follows:

content strategy path
  • Problem aware: Empathize with your audience by articulating their problem in a clear, differentiated way.
  • Solution aware: Present your audience with objective, detailed, valuable options for solutions to their problem.
  • Brand aware: Develop your brand’s association as a trusted solution provider.
  • Product aware: Position your specific product or service as the ideal solution for the reader’s problem.

Following this path will:

  • Drive increased discussion, knowledge, and education around the problem.
  • Introduce new solutions that audiences hadn’t yet considered.
  • Position your brand as something transformative, unique, and revolutionary.  

The problem itself will give you an idea for content that you can take into the research stage.

Once your research is conducted, you’ll have what you need to craft content and deploy it in multiple ways. 

The flow looks like this:

content creation workflow

I’d like to call out a couple of themes here:

  • SEO / search analysis is one piece of the research pie. Google wants us to write for our target audience, not for Google. Dig into the qualified and quantified information that helps you achieve that.
  • Truly useful content that isn’t written solely for SERP rankings should be highly engaging on any number of channels and in multiple formats. Don’t stop at a blog post, and don’t just rely on Google for eyeballs.

Resources to use in content development

Presumably, you know how to use Google’s keyword research tools and external tools (e.g., Ahrefs or Semrush). I’ll focus on tools that go beyond keywords to help you develop your content priorities.

Qualitative interviews

Surveys are useful and often expensive if you’re trying to reach an audience outside your CRM. 

You can get great insights if you can facilitate other ways to engage subject matter experts with the same professional experiences, challenges, and responsibilities as your target audience. 

Slack communities, (live or virtual) meet-ups, and memberships in organizations like the AMA or ANA can provide on-the-ground perspectives for your content mapping.

Social media

Not all social media posts are created equal, but understanding your audience includes knowing where your audience likes to engage: Twitter, Reddit, YouTube, TikTok, etc. 

Work those platforms to get information on what your audience is talking about in real-time, and you’ll be able to see trends as they emerge.

Google Search Console 

GSC can provide excellent insight into the performance of your previous content performance and give you data on what people are doing on your site and previous content. This allows you to see underperforming content and top-performing content. 

For the former, consider what might be missing in the content you can address. For the latter, spin-off more content if the theme allows, do internal linking, and build deeper authority on the topic to establish a competitive advantage.

Competitor analysis

Competitor analysis, in this case, doesn’t mean just looking for keywords with low competition. It means assessing:

  • Where your competitors are leaning in.
  • What ground they aren’t covering.
  • What formats they are or aren’t using.
  • What angles they might be taking on broader topics that leave room for your unique point of view. 

Go into your research looking for opportunities to stand apart rather than just copying everything your competitors are doing.

Moving the needle with helpful content

Taking this approach to content may ultimately change how you view content KPIs.

Instead of clicks and impressions, for instance, you may put yourself in a position to report on leads and opportunities generated and influenced. 

Along with burnishing your brand and helping build awareness, valuable content can move the needle at every stage of the buying journey. 

Google’s heavy-handed guidance on helpful content might feel uncomfortable if it forces a pivot in your approach, but in the long run, it may just make us all better marketers.

The post How to build a ‘helpful’ content strategy for 2023 appeared first on Search Engine Land.

Original source: https://searchengineland.com/how-to-build-a-helpful-content-strategy-for-2023-391074

Google Local Service Ads are now available for dentists

Last week Google updated its Help Center to include a new vertical: Dentists.

The change was first noted by Matt Casady who wrote about the update on Local U. Carrie Hill posted about it on Twitter.

Carrie Hill

How it works. Prospective dentists will need to complete verification before being eligible to advertise.

companies

Why we care. If you’re a dentist or you’re running ads for a dentist, start going through the verification process now so you can get your LSA ads up as soon as possible!

The post Google Local Service Ads are now available for dentists appeared first on Search Engine Land.

Original source: https://searchengineland.com/google-local-service-ads-are-now-available-for-dentists-391175

How to make money from your shed

Reading Time: 9 mins

You may not have set foot in it for years, it may be full of tools and garden equipment. But did you know that wooden shack at the bottom of your garden could make you some extra money?

There are many ways to make money from your home, and your shed is just one of many spaces in your humble abode which could make you money. From your bedroom to your driveway, you can easily make some extra cash from your dwellings.

We delved into the intriguing world of shed-working and the results surprised us. There are many possibilities for transforming your dilapidated shed into a lucrative source of income.

 

Shedworking revolution

Small pink shed

Using your shed for anything other than storing gardening tools may seem strange. But. many people have turned theirs into a productive alternative workplace. There are even whole websites dedicated to doing this!

Alex Johnson, writer of The Independent’s Home Front property column, operates Shedworking.co.uk, a daily updated guide for people who work in garden offices and other spaces.

Johnson started the site in 2006 after moving back to the UK from Madrid with a growing family.

“As we liked where we lived and didn’t want to move. I investigated the then very tiny garden office market and decided that was the way forward. After a couple of months, it struck me that there would probably be other people in the same boat. So I started ‘The Shed’ PDF magazine and then the Shed-working site (which inspired the book),” he explains.

More than a decade down the line, the whole idea of shed-working has increased exponentially and so has Johnson’s site. Since his very first post in October 2006, Johnson has covered every aspect of shed transformation, interviewed an array of shed-workers from all over the globe and published an inspirational illustrated book called Shed-working: The Alternative Workplace Revolution.

GDP contribution

Perhaps one of Johnson’s most interesting articles to date, however, was a 2010 post in which he shared the fact that Shed-workers contribute a whopping £6.1BN to the UK economy.

Based on findings from a poll he carried out, Johnson also revealed a few interesting statistics surrounding shed-based businesses:

  • The average turnover of a shed-based business in the last financial year was £76,449
  • An estimated 80,000 workers are thought to be based in garden sheds and outbuildings in the UK
  • More than half of shed-based businesses (61.3%) are run by sole traders, with 32.3% employing 2-5 workers
  • Of the more than 500 shedworkers polled for the study, 74% said that they planned to remain in their sheds indefinitely

Seven years later, shed-working has been growing steadily more popular. While Johnson hasn’t had the opportunity to gather more recent statistics, there’s reason to believe that its impact on the UK’s economy is even more impressive.

“I think we’re returning to a more natural way of life with better work/life balance, more like the cottage industries that were once the main way people worked, rather than the mindless commuting that we’ve become accustomed to in the last century,” comments Johnson.

Finally, he believes that this frenzied way of life we’ve become accustomed to will soon slow down.

“Essentially, technology was used to herd us into factories. But the way it’s developed now means we don’t need to go into a central office. At least not all the time” Johnson concludes.

 

Shed-based businesses to consider

Carpenter working in his shed

Here are a few ideas of businesses you can run from your shed:

Brewery

Hop onto the craft beer bandwagon by turning your backyard shed into a bespoke brewery. If you don’t actually have one, you could always invest in this fully-kitted Brewery Shed by TigerSheds.

Creative studio

Whether you’re a designer, jewellery-maker, artist or writer, you’ll know that having an inspiring place to work in does wonders for the creative process. And what better setting than your very own garden? In fact, if this Guardian article is anything to go by, transforming sheds into studios has been popular among creatives for a very long time.

List it on Airbnb

As with pop-up restaurants, people are always on the look-out for something quaint and interesting when trawling Airbnb. Give your shed a good spring cleaning and then kit it out for guests. Bear in mind that this would require installing at least a toilet and shower, but possibly also a kitchenette. Read our article on how to make and save money by renting.

Urban chicken coop

Firstly, this is probably not a good idea for anyone with neighbours living very close by. However, if you have a larger garden with some extra space, running your own chicken coop and selling ‘farm’-fresh eggs could become a roaring business.

Read our guide on how to keep your own chickens and this post by Simple Living Country Gal for a few tips on converting your shed into a coop.

Location for shoots

If your shed is full of character, maybe it’s cute and well-kept or run-down and creepy, you could offer it as a location for film sets or photo shoots. This would involve a lot of foot traffic through your house and garden. But the money earned can be well worth it.

Read our guide to renting out your home as a film set for more details.

Garden office

Toying with the idea of working from home full-time? Instead of trying to have your guest bedroom double as an office, you could always repurpose your shed.

Dog grooming business

This is a great idea if you love animals and have a big, secure garden where dogs can roam around freely and safely. In order to set up a doggie parlour in your shed, you will need a reliable water supply, a large bath/basin or two and a sturdy table for drying, cutting and trimming their coats.

Yoga studio & retreat

If you’ve always dreamed of running your own wellness retreat, you don’t have to look much further than your back garden. Since you probably won’t be able to accommodate too many people at a time, your unique angle can be exclusivity. The main objective here is to create a space that is airy, welcoming and serene. Consider adding a window or two, as well as air conditioning and heating to keep the temperature mild throughout the year.

Storage space

Finally, you can always make money by using your shed for its intended purpose; storage. However, instead of stashing your own stuff away in there, you will be helping other people out by keeping theirs safe.

Read more about making money by renting out parts of your home for storage.

 

A few tips for transforming your shed

Before you can start making money from your shed, however, you’re probably going to have to spend a fair amount on transforming it.

Here are just a few things to consider:

Power

No matter what kind of business you run from you shed, you’re going to need electricity. Unless you’re a qualified electrician or have a natural affinity for these sorts of things, it’s probably best to get professional help. After all, you don’t want ongoing power troubles to interrupt your work or, even worse, an unfortunate accident to cast a shadow over your new venture.

Heating/Air-con

Unless you’re running something like a yoga studio, installing heating/air-con is more of a nice-to-have. For most businesses a heater will do the job in winter and a fan in summer.

Wi-Fi

If you’re running any desk-based business, you’ll definitely need an internet connection. However, if the whole idea is to escape distractions, you may want to avoid it altogether.

Tools of your trade

Of course, you’re going to need to kit your shed out fully in order to your business. So, if you’re using it as the base for your catering enterprise, you’ll need a safe, clean and spacious kitchen setup. If you’re designing and sewing wedding dresses, you’ll need a large sewing table, good lighting and plenty of storage space for fabrics.

The best thing to do is make a comprehensive list of all the necessities, followed by a list of things that could add value. Once you’ve ticked off all the former, you can move into your new shed-working space and add the rest as you go.

Rules & regulations

Finally, if you’re going to be running any sort of retail/catering/food/beverage business from your home, you may need to check with your local authority about any zoning regulations. Also, if you’re going to be working with food at all you will need to comply with health and safety regulations, as well as apply for certain licenses. The Food Standards Agency has a comprehensive start-up document to help you out.

 

Case study:

Dawn and Hannah in front of their shed

We caught up with Dawn Fry from The Melting Pot to find out more about the chocolate workshops she presents in her garden shed.

This is what she had to say:

Can you give a quick summary of what it is you do at The Melting Pot? 

The Melting Pot offers chocolate-making workshops to adults, children and teams.

I don’t make chocolates to sell, most people presume I do this, but just offer workshops. Where people come and make their own yummy creations under my instructions.

It has proved a great formula. I now teach other people how to run workshops from where they live, and have created a ‘business in a chocolate box’.

 

What did you use your shed for before it became the home of The Melting Pot? Also, how big is your shed?

The shed was previously our family den. We have three children and a small terraced house. So when they were growing up it was a great big space to have friends and family in or just a space to play. There were lots of parties for children and grown-ups too. And this continues to this day.

The shed is 5m x 6m and was built entirely by my husband Jo, a blacksmith by trade.

 

How did you decide to transform your shed into a working space?

I had seen some friends use their sheds for businesses and this inspired me to think about running my own.

Frustrated with part-time work and trying to fit around the needs of my family. I wanted to create a business that was fun and flexible. Since I love cooking, I knew it needed to be food-related and also that I wanted to include people. I really enjoy meeting lots of different people and didn’t wish to work on my own.

I literally woke up one day and thought ‘chocolate, that’s got to work!’

Once I’d made that decision, I started to research how you trained as a chocolatier, found out about some courses, started planning my business on paper, whilst still in a part-time job.  This was in early 2009 – in June of the same year I was made redundant from my job and decided, it’s now or never, and went for it.  There was no redundancy package to fund my new business, but I did my training and launched that September.

I was totally scared, but it’s been the best thing I’ve ever done for so many reasons. Not least of which the amazing opportunities that working with chocolate has bought for me personally. It has also been totally flexible while my family was growing up, which is what I wanted in the first place.

 

How long did the transformation take? Can you name a few of the changes that had to be made? What was the hardest part?

The structure of the shed was already there, in terms of making it useable for my business. We stuck a false wall in the main body of the shed, to create a storage area. Then we added underfloor heating, flooring, mains water supply, painted and prettified.

It already had an electricity supply.

We did this over a couple of months in the summer of 2009.

The hardest part was worrying that the investment was worth it. We did not have any funds behind us, it was the height of the recession. I was using up precious resources to launch and untested business concept!

 

What do you love most about your working space?

I love my working space because it’s home, but not quite home.  I’m down the garden and I can see my own house but I’m in my own precious space.

The outlook is so pretty, and it always smells of chocolate!

It’s my space, but one I also share with lots of others.  It’s where we go to have fun and a good time. So it has a really positive ambience and also a lovely peaceful feel to it too.

 

Would you recommend RE-PURPOSING your shed into a working place to other entrepreneurs? If so, why?

I would definitely recommend repurposing your shed if you have a business idea and wish to go for it.

Both my husband and I believe that your job should be something you enjoy doing if at all possible. He offers courses at his forge on the back of my success at chocolate workshops.

Working from your shed is flexible, the commute is fantastic and usually you are doing something creative, that you love.

 

Ask your money-making questions

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Original source: https://www.moneymagpie.com/make-money/how-to-make-money-from-your-shed

9 great ways to make money from your living room and bedroom

Reading Time: 10 mins

As the colder weather continues on, there’s the temptation to begin a hibernation process in your living room. It’s all well and good if you have a trust fund, but that’s not the case for most of us. Earning usually means leaving the house. Unless, of course, you try one of our top tips to make cash in your living room and bedroom.

We have a whole range of ways to make money from your home, including making money from your shed, driveway and garden. But cashing in on your living room or bedroom may suit you best.

So – slippers on, kettle boiling. Let’s go!

 

rent out a spare bedroom

Rent a room to students or week-day professionals

Renting out a spare bedroom can make you up to £7,500 a year tax-free. According to the government’s Rent a Room Scheme you can let out as much of your home as you want. The only exemption is if you earn less than the threshold – Jasmine writes about it here in more detail.

Depending on your space and preferences, you’ll need to decide what kind of housemate you’re after. Could you manage a permanent co-resident who freely uses common areas like the living room and kitchen? Or would you prefer short-term visitors who simply need a pillow to lay their heads on at the end of the day?

Advertising your room

Sites like the following:

Cover the whole of the UK. They’re the perfect platforms for advertising your room for a lodger.

Airbnb currently dominates the global market for vacation rentals. It’s a good place to list your spare room for occasional holidaymakers.

Claiming expenses to save on tax

If you take hosting on Airbnb seriously, you could be looking at making more than the £7,500 tax threshold. You’ll then need to look at claiming some expenses to bring that income down.

Think about claiming things such as:

  • accountants’ fees
  • insurance covering the building and contents
  • your utility bills (gas, water and electricity)
  • maintenance and repairs – but not improvements
  • council tax
  • services you pay for, such as cleaning and gardening
  • costs racked up by letting the property (think your telephone calls and advertising).

Do you prefer tourists or students?

Your location also determines the kind of people who may be interested in your accommodation.

If you’re close to a university, for example, you can expect lots of student applications. In a more central spot in close proximity to transport routes, you could target the tourist market.

Hosting foreign students is another avenue to explore. You could make even more money by potentially giving English tutorials to students staying in your home for a few weeks. Read more about this option and how to connect with your local language – which will help you find students to host – in our article here.

Other than this, you should consider a bunch of additional points. For more tips on:

  • furnishing the room,
  • insuring the contents,
  • screening candidates based on references, and
  • drafting a water-tight contract

Read our article on renting out a room.

 

Cash in your junk 

Sell your stuff

We say this a lot but it really works: you can easily make money from your living room and bedroom by decluttering. Spend a few hours doing a good clear-out and sell the items you no longer want or need.

Our Clear Your Clutter campaign has oodles of ideas for making money from your junk. Take a look at some of the articles and videos here.

It might not seem like you have anything worth selling. But just look around and ask yourself: what haven’t I picked up in years?

  • Do you really want all the novels on your bookshelf?
  • When did you last pick up that violin?
  • And the dining set that has stayed in the Christmas drawer three years in a row?
  • Not to mention the clothes occupying valuable wardrobe space and which haven’t seen the light of day in years.

That’s right: Someone will pay for your junk

When it comes to second-hand household goods, one man’s junk truly is another man’s treasure. You may even have collectables lying around that could be worth good cash.

Nope, we’re not talking silver candlesticks or Victorian carved furniture. Surprisingly, they’re worth very little at the moment. Instead, dig out the things that’ll bring in the bacon:

  • plastic action figures
  • comics
  • first editions of popular books
  • children’s toys and books

Read more about making money selling collectables you already have here.

Not show-room condition? That’s okay

The good news is that the things you sell don’t even have to be in good condition. A really old, broken mobile phone, for example, could bring in a fiver or so. Go dig out your old phones from the back of your drawers and make cash.

Find out how you can make money even from broken bits and pieces here.

Okay, now HOW to sell it

What you find to sell will largely determine how you sell your stuff. In our article 5 Ways to make money selling your junk we recommend hitting the online markets first. Which do we recommend, you ask? Try:

  • eBay: this online auction platform is the ideal place to sell unwanted bits and pieces. Even half-used bottles of perfume and partly-used cosmetics will sell! Check out our handy guide to selling things on eBay here.
  • Gumtree, essentially an online classifieds site.
  • Facebook makes it easy to sell to your local network. Check out our tips including playing fair and putting safety first when selling through Facebook.
  • Ziifit is great if you’re looking to get rid of games, CDs, DVDs and books. Available via its website or app, the free service scans bar codes on any book, CD, DVD, Blu-ray or game. It arranges and pays for the collection of any items, and pays customers within a few days of items being received.

Offline? try these

If you prefer to conduct your sales offline, car boot sales are always a winner. There isn’t much you can’t sell at a car boot sale. Make sure you raid your wardrobe, cupboards, drawers, attic and shed to see what hidden gems you might have stashed away. 

Read more about turning your trash into cash at boot sales.

But if you find a rare item, consider an auction.

Getting auction action

Lastly, if you have rare or highly valuable items to sell, an auction might be the best channel – think antiques, jewellery or vintage items. Most auction houses have specialists on site that will provide free verbal valuations on your items and guide you through the process from beginning to sold.

 

Host a product party or pop-up event in your living room

make money hosting an event from your living room

The traditional ‘tupperware party’ has long since had a makeover. Today’s home selling events are the place to go for everything from vintage clothes to skincare. If you enjoy hosting people in your home, you can use your living room to invite friends and their friends round to try out various products.

Step 1: Social butterfly? Try this…

As a hostess, you won’t earn cash as such. But you’ll benefit from free products, discounts and special offers. A company consultant will facilitate proceedings, guiding everyone through what’s on offer and giving them the opportunity to purchase whatever tickles their fancy.

Step 2: Things go well, what’s next?

If things go well, you could become a consultant yourself and represent a company. This will:

  • enable you to host parties
  • put the commission earned from sales into your own pocket
  • help you to earn money flexibly – you can choose how many parties to book, whenever you like.

Step 3: Things keep going well, what’s next?

The business will assign you a mentor and train you on everything there’s to know about the product you’re selling, as well as the company behind it.

Your training will be specific to the brand. For example, as a Body Shop At Home consultant you’ll be taught all the ethics that the products endorse. That’s fair trading, protecting the planet and anti-animal testing. Working for Ann Summers, you’ll learn to arrange party games so you can tailor the event to your customers.

Step 4: Like what you’re reading? Here’s what to do now

To get started as a hostess or consultant, you just need to fill in your details on the websites of the companies you’re keen to represent. They’ll get in touch to get you started.

  • Read more about it: we highlight some of the bigger, more common home-selling opportunities in our article on how to host a product party for cash. Find out more about the nitty gritty of how much you can potentially earn from using your living room this way, as well as some of the costs to bear in mind.
  • Do it, just with your own home-made products: we also look at the idea of creating your own DIY product party if you make cosmetics yourself. Making beauty products at home is actually easier that it sounds. You can unleash your inner potion powers in our article here on how to make your own cosmetics to sell.

Step 5: Maximise your living room’s earning potential

Of course, you don’t need to limit yourself to selling products. You could use your living room to host a pop-up vintage clothes market or – the latest thing in food – a themed supper club (you’ll need to use your kitchen and culinary prowess for this one). If you can picture yourself whipping up a gourmet meal to serve to a bunch of strangers, you could well start raking in gourmet cash. And perhaps even make a name for yourself in the home cheffing world too.

Love the idea of gourmet cash? While supper clubs can pop up and disappear without notice, visit the Supper Club Fan Group for a round-up of UK supper clubs to get a taste for what’s cooking in this arena.

 

care for kids in your living room

Make money from your living room as a nanny

Get paid to look after your own children

Are you home looking after your own kids during the day? Why not add a few more in and make six a party. If you’re confident your living room (and psyche!) can handle it, it could be a particularly good way of making money.

A childminder working full-time may earn between £10,000 and £18,000 a year. You could make more – childminders set their own fees. Depending on where you live and how much experience you have, you could charge from £3 to £10 an hour per child.

Pay levels are set locally rather than nationally. They depend on the number of children you look after, the setting in which you work and the number of hours you do. The better qualified you are, the more experience you get and the higher your level of responsibility. This also translates to a higher salary, of course.

Remember that as a childminder you’ll need to:

  • make arrangements for paying your own tax
  • sort out any insurance
  • meet costs such as providing meals and buying toys and equipment.

For more information, check out our article on how to make money childminding. 

use your skills to provide a service

In the UK, you don’t need any formal qualifications to, say, teach yoga. Technically, anyone can open their living room doors and charge customers for a class. Without the right experience, we wouldn’t recommend it – and no, being able to do some downward dog poses does not classify as expertise!

But if you’re skilled in a particular field – be it pilates, massage, still life painting or street dance, you could pass on your knowledge to others and make money in the process.

Clear the decks

Step 1: Your living room will need to suit the purpose and be appropriately equipped. Before you set up shop go through the logistics of what is required. Need pole dancing poles? Or a pottery kiln? It’ll help you budget for the initial investment.

Step 2: Once you’ve worked out what your service offering will look like, advertise it. You could do a shout-out on Facebook or stick posters in your library. It’s best to target a local network who may not have found a provider in close proximity.

Or, just lease your lounge. If you don’t want to be involved in actually providing the service itself but have a space that could work well, consider renting it out to someone else. It’s an easy way to make some monthly dosh.

rent your living room as a film set

Lights, camera, cash!

Location scouts look for all kinds of properties for photo shoots and film sets. They pay up to £2500 a day. You never know, your bedroom or living room may just have the look they’re after!

To get started, sign up with an agency such as:

Register your property with these sites and they’ll help provide you with work. You could also contact the BBC locations department or your local film commission directly to ask if they’d be interested in your home.

Remember:

  • Your chill pill. If your home is going to be used as a film set, you need a laid-back attitude. You could have a film crew of 30 to 40 people lugging around their equipment and it can be very intrusive – you may even need to move out for a while.
  • Parking requirements. You’ll need to consider whether you have enough parking nearby to cater for the entire crew. Perhaps they’ll be interested in buying coffee from you?
  • Your neighbours. Consider your neighbours to make sure they’ll be happy with the arrangement. Night shoots, for example, could mean the road is lit and noisy when they try to sleep. It might not impress the rest of the street. If such practical implications don’t phase you, it could be a great way to make extra cash and maybe even meet a celebrity or two.
  • Read our full guide: How to make money renting out your home as a film set.

 

Earn cash while you watch tv

Make money from your sofa watching tv

Believe it or not, you can easily make money without moving from the sofa. Or almost.

Got pins? Knit for cash

No clue where to start? Fear not. We can help you learn everything you need to know, from how to cast on to where to find the cheapest wool. We’ll also show you how you can knit items to sell and how to teach others to knit.

Find out how to knit your way to riches here.

Pump iron

You can earn as much as £12 an hour doing other people’s ironing. Sounds appealing?

For most of us, ironing is one of those horrible chores we avoid for as long as possible. If you’ve got a knack for it, though, there’s plenty of people out there willing to pay you to take that stack of creased shirts off their hands.

Learn more about how to make money ironing. 

Make more money from watching TV

Like sitting in front of the box? We’ve got a whole host of ideas on how to make money from TV itself – check them out in our article on how to make money from TV.

If you try out all of our ideas to make money from your bedroom or living room and have no luck (unlikely), just take a look down the back of your sofa. It’s never going to make you rich, but finding money you didn’t know you had can put you in the positive mindset you need to go out there and turn those rags to riches. Happy hunting!

 

Ask your money-making questions

The Magpie community is full of savvy money savers and makers – and now’s your chance to ask your burning questions!

The new MoneyMagpie Messageboard brings together the Magpie community, MoneyMagpie team, and vetted experts to make sure your essential money-making questions get answered.

Take a look here and register to post a new thread or reply.

The post 9 great ways to make money from your living room and bedroom appeared first on MoneyMagpie.

Original source: https://www.moneymagpie.com/make-money/9-ways-to-make-money-from-your-home

Brokerages – An Analysis of the Various Types

Home Business Magazine Online

A brokerage is a corporation that facilitates the buying and selling of securities including stocks, bonds, and mutual funds. A lot of brokerages also provide other services like retirement and financial planning. While some brokerages are full-service or offer a variety of services, others are low-cost brokerages that primarily concentrate on transaction execution. You may be wondering, is IFC a good broker? It’s smart to read feedback from customers and gauge the pros and cons. Your financial goals and preferences will determine which brokerage is ideal for you out of the many different types available. Here is a summary of the many types of brokerages and the services they provide.

Full-Service Brokerages

If you want to handle all of your financial needs at one time, a full-service brokerage is likely your best choice. Full-service brokerages offer a variety of services, including tax preparation, estate planning, retirement planning, and investment counseling. Additionally, they may put you in touch with a group of research experts that can provide insight into certain assets. Full-service brokerages may be a wonderful option for customers who are new to investing or who want extensive financial services, despite the fact that they frequently have higher costs than other types of brokerages.

Discount Brokerages

For seasoned investors wishing to reduce brokerage fees, discount brokerages are a fantastic solution. Discount brokerages sometimes provide fewer services and lower commissions than full-service brokerages. You might need to carry out independent research or retirement planning, for instance. On the other hand, discount brokerages can provide you access to a variety of products, including stocks, bonds, and mutual funds. Additionally, if you are a more active investor, you may appreciate the freedom of not being required to pay for services that you do not need.

Online Brokerages

For investors who feel comfortable managing their own assets and want to cut costs on fees, online brokerages are a great option. Online brokerages sometimes provide fewer services and lower commissions than full-service or discount brokerages. You might need to carry out independent research or retirement planning, for instance.

Wrap Up

When choosing a brokerage to begin investing with, there are a few aspects to take into account. What type of an investor are you first off? Do you wish to invest in mutual funds, exchange-traded funds (ETFs), stocks, bonds, or all of the above? You may begin limiting your alternatives once you’ve selected what you want to invest in. Consider the costs associated with each brokerage next. While some brokerages levy a per-trade fee, others charge a monthly or yearly fee. Other brokerages don’t impose any fees, though. To determine which option is best for you, compare the costs.

Finally, think about the services and resources that each brokerage offers. More research and data are available at certain brokerages than at others. Some of them also offer mobile applications, which are helpful if you want to manage your assets while traveling. Finally, your particular needs and tastes will decide which brokerage is appropriate for you. If you do your research, you can choose the finest brokerage to help you reach your financial objectives.

The post Brokerages – An Analysis of the Various Types appeared first on Home Business Magazine.

Original source: https://homebusinessmag.com/money/personal-finance/brokerages-analysis-types/