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  • Megan Cooper

Doing Business in Multiple States? Here’s How to Manage Your Living Arrangements

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If you live in multiple states - congratulations - you truly get the best of both worlds. In addition, multi-state living arrangements can also benefit your business - your company can reach new markets, grow revenue, and improve profits. But how do you manage all your responsibilities and stay organized when there’s so much on your plate? Tozzi Realty shares everything you need to know below.

Keep Helpful Products On Hand

Moving into a new home can be more manageable when you have the right products on hand. For example, having your homes set up with all the essential cleaning products, tech, and clothing items can help you feel settled in both houses. When purchasing any products for your family, try to read in-depth product reviews from unbiased sources to ensure you get the most bang for your buck. In addition, We Move The World reports that you should have all essential documents like passports, birth certificates, licenses, and registration with you during the move for safekeeping services. This way, you can ensure that these crucial documents stay safe and secure through your commutes to different states. Having backup photocopies of these documents will also be wise in case they get misplaced along the way and you urgently need them.

Choosing a Registered Agent

Choosing a registered agent for your business will be worthwhile as it can help simplify running your business across two states. Working with a registered agent will help you outline all significant decision-making tasks and processes. For example, you'll be covered the next time anything serious happens - like a lawsuit or tax notification. Check the rules in your state before choosing a registered agent, and you’ll be good to go!

Saving Money

According to Advisors Edge, over 42% of business owners are worried about finances. This stress increases when you run a business across two states while commuting and managing both properties. However, there are some easy ways you can save while still managing all your responsibilities. Making specific business arrangements like getting a registered agent in the state where your business is registered can help manage details like financial concerns. In addition, if you’re splitting your time between two states, you can save money when registering your cars. It is also possible to get cheaper policy options when you register in the state with more affordable options. This also holds true for health insurance!

Average Costs Involved in Moving

Moving can be expensive, particularly when you’re moving your business along with your life. If you’re worried about rising costs during this time, just remember that planning and budgeting for various expenses can help ease financial anxiety. Following are the average costs of essentials in different American cities:

  • Self-storage: The trick to finding storage in Las Vegas is finding self-storage options that buy you time to decide which items to keep and discard. The average cost of self-storage in Las Vegas is $66.

  • Business insurance: The cost of business insurance in a city like Detroit starts at $50 a month.

  • Childcare: The average cost of childcare in Seattle can range from $800-2000.

  • Food: Groceries for your family can add up when living in two states. The cost of groceries in Pittsburgh is $100.

  • Housing: The average cost of housing in Cleveland starts from $120,000.

Worried about your business as you move between different homes in different states? The good news is that today’s digital world enables you to run your business from just about anywhere. Be sure to incorporate the best practices mentioned above, like finding a registered agent and saving money along the way, to make the most of your arrangement.

If you’re looking to buy and sell property in Southeast Michigan, check out the Tozzi Realty site. Click here to browse current listings today.

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