Start Your Own HOME-BASED BUSINESS (ePub)

You Can Make Extra Money With A HOME-BASED BUSINESS!

In this day and age, it's no secret that many struggle to make ends meet. A full time job and/or two family members drawing a pay check are simply insufficient and often fail to provide enough funds for basic living expenses. Often, the only option remaining is to find additional employment in order to gain financial security for you and your family. You have already exhausted the formal part-time job offerings in your area, having no success. So what to do? The answer just may be to start your own HOME-BASED BUSINESS!

Within this eBook, you'll discover 25 outstanding home-based businesses ready and waiting for your consideration. Admittedly, most business concepts detailed herein will not fit your interests, expertise, time parameters, or financial goals, but it is certain that there will be one idea that will spark your interest and, ultimately, will be the one you choose to implement. Browse through all 25, and then select perhaps three business ideas that immediately catch your eye. Go back and read each of the selected three carefully, all the while evaluating the pros and cons of each idea as it applies to your particular situation.

When you are satisfied that your diligent examination has resulted in the perfect solution for your needs, make your final selection and then prepare an appropriate BUSINESS PLAN in accordance with the suggestions and tips delineated throughout this eBook, especially in the Chapter entitled STARTING YOUR OWN BUSINESS.

And then GO FOR IT!

When deciding which home-based business is right for you, it is imperative that you develop a sound business plan that puts your expertise, knowledge, and experience to use in a manner that guarantees a profitable venture.

While brainstorming ideas, start with the kinds of businesses in which you already have a strong. Consider which materials and equipment have access to or can inexpensively gain access to. In doing so, you will minimize startup costs and, as a result, allow you to have an immediate impact on the market. Also consider which businesses already exist in your area. Are there any businesses that would be in direct competition with your business? If that's an affirmative, how can you best distinguish yours from theirs and, most importantly, will there be enough business to go around? Does the absence of a similar business represent an opportunity for you?

Next, you should determine the prospects for your new home-based business. Is the market for your product or service sufficient? Can you make a profit after deducting overhead? How have other similar businesses fared? Diligent research is required in order to ascertain the answers to these questions.

The tax benefits of operating a home-based business can be rewarding. You can often deduct a portion of your home's expenses including your mortgage interest, property taxes, utilities, and repairs and maintenance against your business income. In order to qualify, your home must be your principal place of business. However, you may only deduct proportionate sums of the total expenses that are directly related to your business. You cannot claim a loss with your home-based business expenses, but you can accumulate and apply them to future tax years should you not have sufficient business income for use in the current year.