Writing A Business Plan:
Work from Home Businesses, Easier Now Than Ever Before

Q: What's the difference between work from home businesses and other businesses?

A: Location. Location. Location.

Location is everything.

For work from home businesses, it means that your overhead is lower... way lower.

It means, too, that your odds of success are higher ... way higher.

If that sounds overly optimistic, consider that a traditional brick and mortar business requires somewhere in the neighborhood of $100,000 to start up. There's rent (first, last and deposit), electric, build out, signage, inventory (whether you need it or not), advertising, employees, etc., etc.

At home businesses have it a lot easier. There's no rent, hardly any electric, no build out, no signage, inventory only as you need it (and maybe none at all), much cheaper advertising.  
Employee costs, too, are much lower. In a traditional retail business, there must be someone on the floor whether there are clients or not. Not so in work from home businesses. 

What kind of home businesses are there?

Just about any kind!

Consider a retail business that you start from your kitchen table.  This kind of retail business flourishes due to the reach and power of the internet. Your product is on display 24-hours a day, no matter what. Everything from aardvarks to xydeco is online.

Or look at a wholesale business.  Wholesale businesses enjoy the same edge. Locking your door at night doesn't mean the business day is over. Not at all. Clients keep on finding you, all night long

Informational services are flourishing, again due to the incredible strength of the internet. How would you like to get up in the morning and discover that you've sold a couple of hundred dollars worth of ebooks over night?

How serious are these entrepreneurs? 

Very serious.

WAHM s (work from home moms) have a vested interest in making the home business work, as do SOHO (small office, home office).

Do home businesses need an internet component?

Some do not.  But for most, it certainly makes the business grow faster!

What's the biggest drawback?

Somewhere in the depths of your soul you need to have faith in the fact that you can start and build one of the successful work from home businesses. Lots of people want to work from home, well over 80%. But not a lot of people actually do it.

You are on the right path by investigating it now, before you actually start.

So, what should I investigate?

1. Determine what kind of business you would like.

2. Do you want to work for someone else, or start your own business?

3. How proficient are your computer skills?

4. Do you have a client base you can draw from? If not, how will you get one?

5. Do you have sufficient savings to tide you over until your business can be profitable?

6. Do you have friends who have their own work from businesses, and who can help you on your way?

7. How does your family think about this? It's a big step, financially and emotionally.

In short, do everything that you would do for any other type of business. The fact that it will be home based only means that it will likely be less expensive to start. However, it will also be harder to get outside funding. Cover your bases now and you will launch your home based business with a great deal more confidence.

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