Why Go Home Based Over Traditional Business
How many times have you… thought about starting your own Business. Have you ever pictured yourself with a successful Business?
Lets do a comparison between home based and traditional business. Each business has costs involved with starting and maintaining. Which type of business is right for you?
Home business can have all of the success of traditional business at a fraction of the cost.
Both types of business have costs involved, the traditional business tends to have more. For starters, the traditional has an overhead that really cuts into your profits. You have rent, lease, or mortgage, loan payments furnishing, equipment, landscaping, utilities and so forth.
Home based cuts down on most of these costs. The main thing you need is your office equipment, computer, printer fax, desk, chair and phone. The rest you are already paying.
You have to have an advertising budget for both. How much depends on the position you are in.
Advertising costs to launch a traditional business could be huge depending or what your market is. You need to get the word out that you are open for business.
In home based we still need to advertise and need a budget for this, but in can be what you can afford. Of course the more you advertise, the more your business is seen, the faster you have success.
Licenses can be needed to be in either business. Governments around the world have guidelines to follow of what licenses you need to have to be in business.
Licenses are needed in tradition business and you actually may require many depending on your niche. These are usually yearly purchases.
Home based may require a business license and maybe a specialty license depending on what your business is. In a traditional business, depending what your business does could require you to have multiple licenses. Home based tends to need less, maybe a business license or a specialty license. These fees are normally yearly.
There is great tax saving benefits to both businesses. Most government’s give you deductions for many things.
Both business types give you great tax saving methods and are about the same. Home based you get to deduct a portion or all of what you already pay for. This could turn out to be thousands that stays in your pocket and not the governments.
You know that supplies are needed in order to maintain a business. Home based do not require the need to purchase many items that are needed for maintaining your space and many you currently have in your household budget. These include cleaning supplies, mop, bucket, vacuum, and cleaners, which part of can become a tax deduction.
A traditional business has to invest in these things at the start. Of course there are other supplies that both types of business need on a monthly basis. Some basic needs in either business are for paper and ink for your printer as well as pens. Home business may require some specialized tools to help with your marketing, but most are not that expensive and you can do business with out them or buy them as you go along. These tools generally make marketing easier and faster.
Time freedom and management is one of the reasons we all would like to have a business, but what really is the reality?
In a traditional business starting out the owner usually works very hard and is required to work many hours, to get the business off the ground. It could be many years before you could have time off.
In the Home Based industry most people start out part time, and gradually work into full time when they are having enough success. Instead of watching 3 hour of TV a night they turn this time into creating their future. It is easier to schedule time for special events in your life. Again the more you do the faster your success.
The best reason to go home business is to create residual income. This is income that pays you over and over for doing the work once.
I have and continue to do both types of business. In my experience both can be, successful, challenging, and self-rewarding. Dollar for dollar you should look at the home based business industry, find one with a good support team, marketing system and good products and start your way to creating your future.
Do you see the benefits to a home-based business?