12 home-based business ideas you can start.
While there are plenty of ways to go about starting a home-based business, the following are some of the most approachable paths to creating a home business for yourself:
But with any home-based business there are pros and cons.
A low-investment business has fewer overhead costs (such as warehousing fees), plus potential tax deductions you can claim.
The option to sell products or services locally or internationally.
Flexible work-life balance, which is ideal if, for example, you’re a stay-at-home parent or a retiree.
You can create a family business where your relations or your spouse can chip in as needed.
You may need to convert space in your home to support the needs of your business (e.g., holding inventory, creating a home office, or storing equipment). The challenge can be doing this without disrupting your life at home.
You still have to comply with any regulations that pertain to the business you want to start (e.g., you may need to rent a commercial kitchen if you plan to sell food products or a license/permit to hold inventory).
Your business may outgrow your home and require you to rent additional space and hire employees.
Working from home offers you a lot of freedom, but it can also be lonely. This might be difficult if you enjoy being around other people.