By Ken Myers
Looking at real estate for your small businesses? If so, think again. Starting your business from your home may have more benefits than you think.
Like with any business, running a home-based business does present a myriad of challenges but the rewards and the payoffs of working from home can make dealing with them a whole lot easier.
What are some of the best reasons to consider starting up at home?
Personal perks. There’s no place like home. Many who participated in a recent online survey seem to agree. PlanetSoho surveyed a diverse range of entrepreneurs working from home and the majority of them expressed positive feedback citing things likebetter sleep and the ability to spend more time with loved ones as huge personal perks.
You set your own pace. In PlanetSoho’s study, the largest amount of positive feedback, coming in from 61 percent of respondents, resulted from the flexibility that small home-based businesses provide. If you intend to juggle various responsibilities or if you are transitioning out of a full-time job, you could particularly benefit from the freedom that comes with launching or maintaining a start-up on your own terms.
You receive tax benefits. You should be able to write off utilities and the square footage of your work space, at a minimum. Doing so can help to streamline your administrative costs. As always, consult with a professional tax advisor or accountant to get more detailed advice about the specific tax laws in your area.
You have more opportunities to set up passive income. Depending on your business model, you may be able to supplement your income by selling ad space on your website or marketing products to your customers as an affiliate. You may be able to earn a profit by running a blog, setting up an online store, or freelancing to supplement your income all from the comfort of home.
Before you start your home-based business, you’ll want to be sure you’re willing to give it what it takes. Working from home does not automatically mean you will be working any less than someone who owns a storefront. In fact, you may find that at first it takes just as much–if not more–work to get the motors started and continuously running.
While working from home pays off tremendously in ways that will empower you to live the lifestyle of a business owner without the added pressure of maintaining a storefront, it does require an investment of energy, time and finances to make it happen. If you’re up to starting a business, however, doing it from home may be worth looking into.
Ken Myers is a father, husband, and entrepreneur. He has combined his passion for helping families find in-home care with his experience to build a business. Learn more about him by visiting @KenneyMyers on Twitter.