Is a home based business right for you?

A home-based business is a business where the main office is located at home.

Working from home can be a lot of fun — if you’ve chosen the right career. There are now more options than ever when it comes to home-based businesses. And some of the opportunities might be just what you’re looking for if you want to add some more fun to your life. Below is a list of the most fun home-based business ideas.

Here are 3 questions you need to ask yourself before starting a home business.

Do I have a product or service that people will pay money for?

This is no different to any kind of business in any location – a bright idea needs to be supported by good market research and a sound business plan in which you demonstrate how you will degenerate sales, pay the bills and make a profit.

Are there advantages to me locating my business from home?

Is It flexibility you’re after, including the ability to balance family commitment with making a living?
Or is it about affordability? - recognising that costs associated with work premises can be minimised by running a business from home.

Does my home lend itself to a business?

What’s the nature and scale of your business – can your home accommodate the business without disrupting family life and neighbourly relationships?
Do you have space, perhaps an attic, spare room or garden shed, or even part of an active living space which could be utilised for business purposes?

Source:Contains public sector information licensed under the Open Government Licence v3.0.