What’s a roaming entrepreneur? Basically, it’s a digital nomad that owns a business instead of acting as an untethered freelancer. As a business owner, however, you can’t just settle in any city, you have to pay close attention to a few of the nuances that make living in one ZIP Code a bit better than another. Today, we touch base on a few common business practices and why four of our favorite cities make the most sense for business owners.
Before we get into specific locations, it makes sense to cover a few important business tasks that you want to get out of the way before you settle down. Two that come to mind are business formation and marketing.
Your business structure affects how you pay taxes, hire employees, and set rules and regulations within your organization. Having the right business structure in place is paramount to your success. For most of us, forming an LLC makes the most sense as this keeps our personal liability to a minimum. You can also pay yourself through your LLC, which classifies you as an employee so that you can maximize your tax deductions for your business.
Marketing yourself as a nomadic business owner may be a bit trickier. Many people are going to want to know that the person they’re dealing with is available when they’ll need you the most. One thing you can do to offer some assurances to your customers is leave a business card. While this sounds like a small thing, it is a tangible reminder that you’re there for them. You don’t have to have anything fancy, and using a template is a great way to get your brand (including your colors, fonts, and images) across in business card form. If you’re looking for a quick way to make a card, this may help.
Atlanta, Georgia is one of the busiest towns in the south, but it’s a great place for a digital nomad. Why? Because of its proximity to nature, its eager workforce, and its bustling retail scene. And if your business focuses on sports whatsoever, Atlantic Station notes that you’ll find at least five major league teams including the Atlanta Braves and the Atlanta Hawks. Look for homes outside the city center for the best price as Atlanta can get expensive.
Denver is beautiful, but it’s also one of the most educated cities in the entire United States. This means that you’ll have access to an educated and experienced workforce. Plus, it’s a high-income area, meaning you should be able to target high income earners. An apartment here can run $2,000 or more per month. If cost is an issue, consider finding a roommate or purchasing a home that needs a bit of work.
Not only does Music City have all the amenities you could ever want, including major sports, shopping, and a diverse music scene, the people in Nashville are also hard-working and welcoming to new businesses. FranSmart notes that there are also plenty of resources for entrepreneurs and lots of places to open up shop if you need an office space. This includes retail locations and cooperative working environments; many new living spaces are popping up downtown, so you may find a building where you can work and live.
Wyoming has some of the lowest tax rates in the country, and Sheridan is great for business owners for this and other reasons. The economy here is primarily centered around healthcare, education, and energy, but it’s also a tourist hotspot with lots of history and mountain views. A fairly rural area, you may luck out and find a beautiful mountain cabin here.
For all of the benefits and challenges associated with being a remote-based business owner, having the freedom to live anywhere you want is reason enough to want to find a new place to call home. But, before you get started and cut ties to where you live now, handle a few business tasks, such as marketing and business formation. Then, take the time to research the benefits and disadvantages of your preferred cities. Wherever you wind up, just remember that you are tied to any one location, and you can always move if you need a change of scenery once again.