Home based business vs a Retail business?

Chances are you already know the benefits to having a home based business instead of having a retail business, but just in case, let us review them. Maybe we will stumble upon something you are not aware of.

Flexibility – When you work out of your home, you have the flexibility to do things when you want and how you want.  This is especially important with direct sales as you can book events when you want to do them.  Have a kid’s birthday party?  No problem, don’t schedule an event that day.

Time Commitment – You can make just as much money in a few hours in direct sales as you can working an eight hour shift somewhere else.  If you work your business well, you can pretty much be guaranteed whatever income you are looking for.

Cost – Ever wanted to start your own business but you only have a few hundred dollars?  No problem!  I have not run into any company that costs more than $500 to start up!  And depending on the company, you may even be able to earn that sign up fee back!   Have you ever heard of starting a retail business for that amount?  Chances are you going to pay more than that in rent per month.

Profits – Not only is it cheap to get into direct sales, but you make profits fast!  Even if you do not get your kit for free, within doing a few thousand dollars worth of sales (depending on kit cost and commission level) you have made back your investment and are into profits!  Try doing that in a retail setting.

Tax Write-offs – This is a favourite for everyone, the write-offs you get working from home.  You are able to write off portions of your car, your fuel, the products you buy for yourself and family (product testing is important, right?) and so many other things.  Always check with your tax accountant or buy a proper tax program to help you with this.  But make sure to keep a mileage book and all receipts until tax time.

I have heard some people say that if you own your home, it is stupid not to run some sort of home based business, at least for the tax write offs.  But imagine getting into direct sales and being able to make money relatively easy, and get the write offs to go with it.  Win win!

 

Enhanced by Zemanta

Leave a Reply