If your future retirement dreams have been shattered, or your job was hard-hit by the failing economy, or you simply can't stand the idea of getting in your car one more day and driving to a job or a boss you hate... consider this:
START A HOME-BASED BUSINESS!
What comes to your mind first when you think about home businesses? For many, the image of Tupperware parties or Amway “strong-arm” sessions comes to mind (no disrespect to Amway, really.)
For others. It conjures an image of a garage full of un-sold, hand-made crafts that couldn’t be unloaded at the local swap meet. If you have similar visions, then you need to know that home business has changed and evolved and enjoys new found respect.
* Note: for the purposes of this article, "home business" and "home-based business" will be used interchangeably, as they mean the same thing.
21st Century Home Business Ownership
It’s the 21st century, and the term Home Business has grown to encompass much, much more than just network marketing companies and granny’s home-made crafts. A home-based business is any business that takes place either from within an individual's personal residence, or nowadays, from their personal computer!
People start home-based business ventures for a wide variety of reasons. Some people are forced to leave the corporate world as a result of downsizing or early retirement, while others leave voluntarily out of a desire to be their own boss, to avoid the hassles associated with commuting, or to facilitate caring for children or elderly relatives.
Home-based businesses have become a significant trend in recent years and they’re now taken much more seriously. Today, home-based businesses range from consulting firms and advertising agencies to photography studios and free-lance writing services.
What's Changed?
In a word...TECHNOLOGY
The driving force behind the growth of home-based businesses is the increasing capability of technology. Rapid advances have virtually eliminated the need to commute to a place of employment and have enabled one person to be able to do the work previously required of an entire support staff. Yes, the face of home business ownership has changed!
Roughly two-thirds of home-based business owners are women, due to childcare concerns or because of a perceived glass ceiling limiting their earnings potential in the corporate world. However, these odds are changing due to the sour economy. A growing number of couples are teaming up to run home-based businesses, as well as the number of men who have traded in the business suit for a t-shirt and jeans.
Retired people are also coming to home-based business ownership. For them, running a home business is appealing for it’s ease of operation and for the additional income that can be generated to supplement their retirement income without having to compete in the shrinking job market. It also gives them something to do that keeps their minds engaged.
What are some of the major advantages of Home-based Business ownership?
Freedom
For many, running a business out of the home is attractive because of the advantages it offers, including time savings, control over working hours and conditions, independence, and flexibility. You also have more control over who you work with. No more having to please the boss and coddle a nasty client. When you’re your own boss, you can kick’ em to the curb!
Costs
The cost of operating a home business is another advantage. It’s considerably cheaper than starting a business in rented facilities or buying into a franchise requiring large start-up costs.
Taxes
In addition to saving money on overhead expenses, commuting costs, and wardrobe expenditures, many home-based business owners can deduct a portion of their rent or mortgage interest from their personal income taxes.
A look at some of the Home-based Businesses of today:
- Internet Marketer
- Insurance
- Real Estate
- Network Marketing
- Consulting Services (business,health, advertising, etc.)
- Photographers
- Freelance writers
- Home healthcare
- Daycare - children and elderly
- Cleaning Services
- Graphic Designers
- Hair and nail stylists
- Personal Trainers
- Handyman Services
- Academic Tutors
- Music Teachers
- Crafters
- Seamstresses
- Mobile Service Technician
- Computer and web services
- Small home-service franchises
These are just some of the ways people are creating their own income by starting and owning a home-based business, and the list is growing rapidly! There really is something for everyone!
What kind of home business do you own, or what type are you interested in?
If you liked this article or found it to be helpful, I’d love to hear about it - leave me a comment below. As always, please feel free to share a link to this article using one of the buttons below. Ciao!
Eryn McCormick is an online marketing entrepreneur, coach and award-winning blogger. She's a woman on a mission to "inform, inspire and ignite" people to take action to recapture their own earning power by leveraging their skills, talents and abilities to start an online business from their home computer or on the go with a mobile device.
Go on...share it, I dare ya!
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