It is a time in our country’s economy that resembles the depression of the late 20’s and 30’s, when one of four Americans who wanted to work were unable to find a job. Today, with the unemployment rate at 10% and approximately 15 million Americans unemployed, jobs are scarce. More and more people are looking for alternatives to a saturated job market. Many have been challenged to consider being self-employed and working out of the home. Home based businesses have been a popular trend over past decade. More than half of all U.S. businesses today are home based. Every 8 seconds someone starts a home business. If you are considering stepping into the responsibility of a home based business, there are 3 keys you want to consider before you invest in one.
1. Consider Whether Or Not You Have The Temperament and Skills to Do A Home Based Business
Before you launch out to purchase a home based business you need to first assess whether or not you are made for that type of responsibility. Not everyone has what it takes to run a business out of their home. It often takes a person who is well disciplined, organized, and proactive. Too many people plan to plan and they never actually get to the place where they set out to go. If your self-assessment concludes that you are not a good fit for running a home business, but you like the vision of home based work, consider teaming with someone that has the needed skills and temperament that you lack to be an affective home based entrepreneur.
2. Consider The Cost Of A Home Business Franchise
Owning your own franchise can be very costly both financially and time wise. A Deli Shop franchise can cost nearly $400K + inventory, a Coffee Shop franchise is nearly $300K, a Hair Salon $79K, or a even Hot Dog Stand can cost nearly $8K. Many home based businesses can be bought for a very affordable price. Taking a risk on a home based business that fails will not hurt the pocket book nearly as much as most brick and mortar businesses can. Make sure you read carefully what you are buying into. There are many home based business scams. Check reviews online for any company you are considering purchasing. The time commitment also needs to be considered because with the start-up of anything new, it takes time, discipline and perseverance.
3. Consider Internet Marketing As An Affordable Home Based Business Opportunity
The internet is the last bastion of entrepreneurial opportunity on the planet. This is a high income industry. You can do it all out of your home, online. The internet because it is on 24/7, that means it never shuts off, it puts you within 3 feet of every online person in the world. It is a multi-billion person marketplace. This industry is made up of a lot of ordinary people- moms, dads, men and women, young and old, every kind of background and ethnicity. And it can be learned by complete novices to computer and internet technology.
Days, weeks, months pass by and still no job. The many online and walk-in job applications that you have completed have not come to fruition. Instead of employers determining your employment future, take charge of your life and look outside the box, consider if you have what it takes to run your own home based business. Consider whether or not you can afford the financial and time investment of such a job. And consider whether or not the last bastion of entrepreneurial opportunity- in the home is for you.