The new American dream: starting
a home business

Is a Home Business on
Your Wish List?

Starting a home business has never been more popular. According to the Small Business Administration, there are over 24 million home-based businesses operating in the United States, and these businesses make up about 53 percent of all small businesses. Another survey claims that the average income-generating home office household is $63,000 a year (IDC survey).

If we can assume that these figures are true, then a home business is very attractive and profitable too! According to a fairly recent Harris poll, 72% of American adults are seriously thinking about starting a home business. How about you?

Whether you are thinking about a part-time home business start up or a full-time one, starting a small business at home is a great idea. Such a venture does require persistence and hard work, but millions of people just like you are successfully starting or operating a home business every day.

Some Benefits of Starting
a Business From Home

• Be your own boss, be more in control of your own destiny. Because you are the one in control, you may be in a better position to produce a positive change in your life and work style, resulting in increased personal fulfillment.

• Starting a home business offers you the liberty to pursue your favorite recreation, can give you a more flexible lifestyle to do the things you want to do most in life.

• Your work is at home, you don't have to "go to work." If family life is a top priority with you, because you are at home much of the day, you can spend much more time with your family.

First Things Needed When Starting
a Home Business

• When starting a home business, you may need a small business license from your local city hall. If you are selling only used goods obtained from garage sales or flea markets you may not need a business license.
  
  
• Obtain a sales tax resale number if you are going to purchase merchandise for resale from a wholesale company. Check with your Chamber of Commerce and they will tell you where to obtain a resale number, usually for just a small fee.

• Where will the money come from to finance your enterprise? Where is the best small business funding available? From my experience, the best and safest sources of funding is from your savings and from your present job. Another good source is from friends or relatives that you convince and who want to invest in your small business.

• If you can avoid it, credit cards and loans are, in my opinion, the worst source of money for most small business start-ups. That's because small business loans and credit cards encourage entrepreneurs to spend more, and overspending, especially for beginners, is a main reason for small business failure.

• Depending on the type of small business you are starting, you almost certainly need a computer, at least for bookkeeping, research, and advertising. If your business is computer based, for example, a small business doing Web Sight Design, the computer will be your main piece of equipment. Computers range in price from about $500 to $2500, depending on your needs.

• You will need office working area and equipment. For office equipment, you will need a desk, a good arm chair, lamps, file cabinet, computer, combination fax/printer/scanner, and possibly a separate phone line (or cell phone), devoted just for your small business. Depending on your business selection, your office and working space can vary considerably, from under $1000 to $10,000 or much more.

• Home business advertising is a must. Without advertising, how will people know about your business? So somehow get the word out with business cards, brochures, flyers, and any way that you can. Craigslist.org and Upillar.com offer free classified ads for those starting a home business.

• If you are going to sell on the Internet, pictures are critical. You will need a digital camera, (many cell phone cameras work well enough too), to easily transfer pictures to your website or your listings on eBay, Craigslist, or other advertising website.

  You can purchase high quality digital or other photographic equipment on eBay at very reasonable prices. I recommend not buying a cheap digital camera, but invest in a good one. For my own use, I have a Canon that I paid $250 for, it works great, that I bought at a local camera shop.

  I also have a Droid 3 cell phone that takes incredibly good macro close-ups, plus it takes great videos. If you can afford the $400 or so price tag on a Droid 3, I highly recommend one. And if you have a Verizon Wireless subscription, you can get this cell phone for about $100 by signing one of their two year contracts. (By the way, I'm in no way affiliated with Verizon Wireless, I'm just suggesting this particular cell phone for your benefit and because it works very well for me).

Here are Some Great Home Based
Business Ideas

Creating a Website Business (new window)
Probably the easiest home-based business for most people to create, and the most profitable, is one that is website based, either creating your own website or using an e-commerce site such as eBay or Amazon.com.

Auto Detailing Business (new window)
Do you enjoy cars and making your car look as great as it can be? Then a Mobile Auto Detailing business may be an excellent, high demand small business venture for you!

Dog Grooming Business (new window)
Do you love dogs? Start your business at home as a Dog groomer. This may be just the small business for you. Many dog owners are willing to pay big bucks to have their dogs groomed.

Gift Basket Business (new window)
Start a gift basket business! At least 75% of gift basket businesses can make over $50K per year, 20% can make about $200K according to a survey by Gift Basket Review (www.festivities-pub.com).