You’ve always dreamed of owning your own business, being your own boss and living the good life. You’ve got the perfect idea for a business and you’re ready to run with it. Now the question is should you create a home-based business or a traditional brick-and-mortar business?
Here are some tips to help you decide which is right for you.
Brick and Mortar is Rarely a Necessity
In reality, there are many and nearly endless business ideas that can be run from home, especially with the Internet making it easier to receive and ship orders and communicate with clients and customers. Even if you have large product inventories, you needn’t clutter up your home with all those boxes. There are many fulfillment centers that will handle the storage and shipping of your products for you, so you can concentrate on selling more products.
Consider the Additional Start up and Maintenance Costs of Brick-And-Mortar
In most cases, a home business is cheaper to start than a brick-and-mortar option. Added expenses for brick-and-mortar come in the form of rent/lease/property purchases, larger staff requirements, licenses, etc.
Do you have money saved up for such a venture or will you need to take out a loan to get started? One option is to start small and home-based, if possible and expand as your profits allow and you prefer to move into a more traditional business setting.
Warning: Large Doses of Discipline Required
As a business owner you must have discipline unlike that of an employee as well, no matter which type of business you choose. However, working at home requires additional discipline that not everyone posses. Yes, it takes a lot to get up and go to a 9 to 5 job every day, but when you’re in business for yourself it takes more than just a paycheck to keep you motivated some times, especially if you’re working amongst the many distraction of home life.
With Discipline Comes Freedom
Most home businesses still allow you a large amount of freedom in your lifestyle and mobility. Setting your own hours and moving your business if you decide to relocate is much simpler with the home based business.
Overall, you need to make a decision that is right for you, your finances and target lifestyle. Whether you build your business from home, an office, a workshop or a retail store, careful planning will help you achieve the success you’re looking for. There are plenty of great business ideas at the Business Idea Library to get the ideas flowing.
Alice,
Good point of view – I’ve been in the 2 worlds right now, and I agree with you – despite what people said about ‘proven’, ‘conventional’ and others that pro a brick-and-mortar, it is expensive to start and maintenance – especially on the employee part – is notoriously challenging.
I just entered the online entrepreneurial world 2 months ago and I can share that it is the best an entrepreneur can do – to ride the wave. It’s booming, web properties value rise, and the barrier to entry is low – main point: if you don’t understand a bit about tech stuff – hire one techie / freelancer online! IMO, more professional and less troublesome compared to the offline counterparts.
Cheers!
Good points. I would also add the best work at home businesses are internet based – they earn 24/7 and have global reach. You can work whenever you choose and in your underwear if you like. The money can be huge and the freedom amazing – can’t beat the commute either!
david