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Starting a Home-Based Business

Infographic

If there is one thing we have learned for the coronavirus epidemic it's definitely that staying at home is better for you.

Joking aside, many people are interested in having their own business, being their own boss, yet only a few pursue this idea and even fewer tend to succeed!

One of the reasons it can be hard to start a new business is taking care of the logistics, especially when it comes to starting a physical business.

Another one is that people do not have the time or money to start big and feel it will not work to start on a small scale.

As a result, they will end up shelving their ideas for later. We all know that later is oftentimes Never!

Well, these people are wrong! Because there is a way you can start small, generate a decent earning and eventually grow into a bigger Business.

And that way is "Starting a Business from Home".

This is not a fairy tale, our research proves that this idea is actually backed up by some solid numbers!

The following infographic summarises why Home-based business proves to be such a success.

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We were surprised to find out that 69% of start-ups were/are home businesses.

Have a small budget? well, 44% of home-business owners need only ≤$5000 to fund their business.

Research also shows that 50% of home-business owners report high job satisfaction.

Now, let us look at the major Positives and Negatives of a Home-Based Business:

Positives

  • Securing possible tax deductions

  • Embracing a work/life balance

  • Selling products worldwide

Negatives

  • Establishing designated business-space in the home

  • Following business regulations

  • Possibly experiencing loneliness

Home-Based Business Ideas

While there are countless options for starting your own home business, here are a few of the most accessible ways to get started selling today.

  1. Buy and sell products online

    Just want to sell goods? Import products and sell them online for profit. Make sure to do your research on current market trends.

  2. Sell homemade products online

    Make special, handmade items? Marketplaces like Etsy, or your own storefront are perfect resources for selling your custom projects.

  3. Open a dropshipping store

    Don’t want to store goods in your home? Dropship. Third-parties provide storage, shipping, and other services in exchange for a cut of your sales.

  4. Open a print-on-demand store

    Want to design the goods? A print-on-demand store allows you to sell customizable, white-labeled products with your own custom designs.

  5. Buy an existing online business

    Have capital you’re willing to spend? Buy an online business. In many cases, these businesses will help you learn the marketing, design, and product steps necessary to succeed in the business.

  6. Sell your service or expertise

    Have particular knowledge that you can sell? Turn it into a business! By creating collateral -- like eBooks, courses, or designs -- you take on no additional product costs except your own time.


Conclusion

In the end, looking at the data, it is clear that starting a business from home is a risk worth taking! Many ordinary people have managed to create large companies employing 100s of employees and it all started from their home.

So whether you are a housewife or a 9 to 5 working regular Joe, you have an opportunity to change your life by taking a chance on creating a home-based business.