Definition: A privately held company whose main workplace is at the discretion of the owner. The company can be any size or type as long as only the main workplace is located in the home of the business owner. Two thirds of all businesses (of all sizes), start out in a spare room, garage, basement or even a bathroom. The other two thirds are started in offices.
Why is it important to have a business that is not based out of your home? Many businesses today are based out of their home and some do quite well. However many times these businesses have two or more employees and they have to pay their employees sub-par wages. This can affect the local economy and force many neighborhoods to lose jobs and citizens to move to other areas of the community. You may have a great business idea that could revitalize a neighborhood and bring back many jobs and new tax dollars. Why not let the zoning laws to determine if your business can be built on your property?
I am sure you have asked yourself this question “Why shouldn’t I make money by starting my own home business?” There are many good reasons to do this and we will go over some of the most common reasons below. First and foremost is the fact that home businesses are exempt from many local and state taxes. Also there are usually no zoning requirements to build a business out of your home, which makes opening your own home business a very appealing choice.
Did you know that eBay is home to one of the most successful and popular ecommerce businesses in existence? Did you also know that eBay charges no monthly membership fee and has never collected a membership fee. This is due to the fact that eBay is an amazing business opportunity that provides sellers and buyers a chance to engage in global trading without ever leaving their homes. If your home business ventures include online auctions, as well as drop shipping and affiliate programs, then you will not be able to charge a membership fee. The reason for this is that these type of ecommerce businesses need to maintain a tight overhead and generate a profit in order to stay in business so they cannot charge a monthly fee.
Do you have a mind set on becoming a stay at home mom or dad? If so, there are tons of home-based businesses that cater to moms who want to stay home with their children while doing their job. Many mothers choose to become daycare providers and deliver babies while their husbands work in the corporate world. Other stay at home moms to start small businesses like massage therapists or chiropractors where they offer services to other people. There are so many different business types available and it is easy to find work at home businesses that cater to your needs.
A great example of a business that caters to a loyal audience is your network marketing business. Network marketing is a lucrative industry, but it can be difficult to build a large down line of distributors. The key to a successful home-based business is to target a loyal audience that will purchase products and services from you. You do not want to sell a product or service that no one wants so the best way to build a large down line is to use article marketing, network marketing and home business ideas that have a high rate of customer retention.
How does one find the perfect home business idea? This is harder than it sounds. There are many factors that go into determining the success of a business. Things like the competition in your niche, your passion for the niche and profitability are just a few of the things that go into deciding if a business will be successful. You can determine if a business has a high rate of customer retention by researching it in the forums and by asking others in your niche what they think of the business.
If you’re looking for an ecommerce business, I recommend that you research the market first before jumping into it. There are many businesses that have failed because people entered the business without doing enough research and therefore got distracted and lost money. So be very careful who you choose as your sponsor and don’t invest a lot of money in a new business without doing your homework. As with any business there are great opportunities and scams out there so it’s important that you do your research on the internet. There are many free resources available.