What You Should Know Before Staring A Home Based Businessby Shawna N. Consultant
Okay, so you've decided that you want to work for yourself or maybe just take up a side hustle that you can do from home. Awesome idea, but there are a few more things to consider before getting started. So, you're ready to get started, right? Not so fast! Before you start that home business there are a few things that you need to consider.
Do You Need A Business License?
Depending on where you live, you might need to pay for a business license for your locality or city. This varies from one location to the next, but is usually pretty cheap.
You may also need to pay sales tax in as well, so be sure to check that out.
Can You Even Legally Run A Business Out Of Your Home?
This right here is probably the most important thing that you need to consider. In fact, the answer to this question might just stop your home business idea before you even get started.
Are you in a house or an apartment? This matters because if you are renting, then you might not be able to legally run your business from your place. You might not even be able to do it if you own your own home! When I was looking for apartments for rent in Carrollton TX, I had the people at UMoveFree help me to find the perfect place to move into where I could do my online business from home. Most of the time, the real problem with a home based business is if customers or clients are going to be showing up. That's why it can be frowned upon or not allowed by some apartment complexes and home owner associations.
Another thing to consider is does your business have any legal requirements that would prevent it from being home based. For instance, in many states you cannot sell food items unless you make them in an approved commercial kitchen. However, if you're in a state with cottage laws, then this likely won't apply to you. Just check what the regulations are for your type of business in your specific state or locality.
Do You Have Enough Space?
You might not even have enough room in your home for your dream business. For instance, if you are selling physical products and not doing drop shipping, then you might not have enough storage space for those boxes.
And if you are ordering products from China or elsewhere that have to be shipped to your location, then you might not be able to have that business. Why? Because products like that typically come on pallets and your apartment complex or HOA might not be too happy when a semi truck unloads a few pallets of products on the street in front of your place.
You also might need a workshop. For instance, if your potential business idea involves woodworking, then you probably need space for a workshop or at least a garage that you can work in. And not all places are setup for this kind of thing. This can be especially difficult if you are a renter instead of a home owner.
These are just some of the important things to consider if you have dreams of starting up a home based business of your own.
Created on Oct 30th 2018 19:18. Viewed 160 times.
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