Home business versus Offsite business. What's the difference?
Are you still stuck trying to make a decision? Don't know what the benefits are? You're not alone! There are others that don't know either.
Since there are different reasons why people start their own business, let's explore some of the differences. Depending on your goal, your vision and your needs, you may need the advice of a professional business consultant at the beginning. Having a clear understanding of the differences between the two, can help you make informed decision.
First of all, a home-based business is also referred to as an internet business, because many of them are conducted online as well. So...
' The internet has changed our lifestyles. From getting a degree from the comfort of our homes through independent studies, to earning a living outside of the 9:00 - 5:00 rat race...it has all changed. The home business industry keeps growing with no sign of slowing down.
The number one reason why more people prefer home business is
freedom. Freedom to spend more time with their family, freedom to get up when they feel like and go to bed when they do, freedom of not having to rush out to beat traffic in the morning, freedom of not having to with a cranky
and mean-spirited supervisors...I can go on and on. It is refreshing!
2. Location. You won't have to find a location when you have a home business. You won't have to worry about paying extra rent either. Whether you are running at a loss or not, you are obligated to pay your rent when you run your business outside your home. In addition, you are expected to open your store at a set time and close at a set time, which puts you at risk of losing customers.
Whether you are present or not, your business will still run 24/7, especially if you have a website.
3. The elimination of complicated paperwork. There are far more paperwork involved with running a business outside of your home. In some cases, you will need the services of an attorney.
Though there are paperwork involved with a home business, it's not as complicated, and many of them can be done online. The ease at which anyone can start a home business versus offsite is encouraging. Not having to deal with the stress and sometimes frustration is worth it.
4. Zoning Laws. In some areas, especially in residential areas, you will have to abide by zoning restrictions. There is no way around that. Otherwise, other business owners will complain. You are not above the law. This restriction alone can cost you potential customers and revenue if you are in a location where there is inadequate parking. Seriously consider this, as you decide on the pros and cons of a home business versus offsite.
Although there are zoning regulations that governs the home business industry, it is not as restrictive. If there is a restriction, you can file a petition of variance. That will allow you to conduct business with some degree of flexibility.
5. Budget. Before the internet, starting a business, requires huge amount of capital. Most likely, an inheritance, your retirement savings or a bank loan. Nowadays, you can start a home and internet business for less than $50.
6. Savings on overhead. Most home business owners are sole proprietors. They do their business alone and do all their paperwork themselves or outsource it to Fiverr or similar networks. No need to hire employees, pay salaries or deal with overhead expenses.
7. Additional Tax Advantages. There are some tax saving advantages in home business versus offsite. Please consult with your accountant for more on this.
9. Flexible Location of Your Business. This should play a pivotal role as you consider the advantages of a home business versus offsite. As a home business owner, you can carry your office anywhere and conduct business even from outside the country. There is no geographical barrier. As long as the internet exists and there are other mobile devices available, your business will go on.
10. The Endless Possibilities.
People who never thought they could make a living outside of working
for someone else, are realizing that they can actually start their own
business from their kitchen table and still generate sustainable income from
home, even unto retirement. They can even implement additional income opportunities that compliments their
primary business. For example, if you start a cleaning business, you can decide to sell cleaning supplies to your clients through affiliate programs. More on how to add other opportunities to your primary business later.
Location in an offline business is limited only to the people in your local community, especially if you don't have a website, and a few more outside your local area.
So when assessing the advantages and benefits of a home business versus offsite, consider the differences. Search the internet for more information that I may not have mentioned here.
With a home business, only the sky will be your limit.