What do Apple Computer, Hershey's, Mary Kay Cosmetics, and the Ford Motor Company have in common? These well-known corporations all started out as home-based businesses. In fact, more than half of all U.S. businesses are based out of an owner's home.
Starting a home-based business has many rewards as well as challenges.
Before You Begin
- Can you live and work in the same area? Find the answer by asking yourself the following questions: Where in the home will the business be located? What adjustments to living arrangements will be required? What will be the cost of changes? How will your family react? What will the neighbors think?
Start a Home-Based Business
- If you have decided you are ready to start a home-based business, then you might already have an idea and/or the products you want to market. If not, think about your background, what you are good at, and what experience you have. This exploration can get you on your way to coming up with a sound idea.
Buying a Work-at-Home Franchise
- Home based franchises are becoming more common, but buyers beware! Some "work at home" franchise opportunities are schemes to get your money.
- Visit theConsumer Guide to Buying a Franchise for more information about evaluating and buying into franchises and related work-at-home business opportunities.
Financing a Home-Based Business
- Federal agencies do not provide grants for starting a home-based business. However, there are a number of low-interest loan programs that help individuals obtain startup financing. Visit theLoans and Grants Search Tool to get a full list of grant, loan and venture capital programs for which you might qualify.
Marketing a Home-Based Business
- There are several ways to market your business and get in touch with your customers. Customers are a key component to businesses success.
Starting a home based-business is a great way to ease into a new business. If you are not well suited for home-based business, you will know very quickly.