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Why A Home Based Business?
Do People Really Make Money from Home Based Businesses?
Although this is a question I hear very frequently, and I want to give you a few points to consider, the answer is very simply yes! There are many people who are making huge incomes working from home for themselves in Home Based Businesses.
The fact is, according to many economic agencies and magazines, I have recently seen reports to indicate the Home Based Business industry is the fastest growing segment of the economy in the USA. Plus, a large percentage of the Millionaires in this country started their fortunes in the Home Based Business Industry. How can this be?
First of all, there are many different types of Home Based Businesses available. From the Home Based Consultant, Home Based Franchise Owner, Home Based Service to the Multi Level Marketers. But there are a great many others in between. Some of them produce larger incomes than others, some with more work than others. Later, we will take a look at some of these and see where the money really is.
But First! Are there Real Advantages to Owning a Home Based Business?
Absolutely! In addition to the money to be made, it was primarily the advantages that drew my husband and I to the Home Based Business Arena. When we started in 2004, our original plan was to take advantage of substantial tax savings as well as make a few extra dollars to save for our retirement. But we learned very quickly the money was better than our jobs and quit our corporate jobs 3 months after we started.
However, I digress… the advantages drew us to the industry.
Consider this:
Tax savings, although the advantages change somewhat from state to state and with the type of business, the fact is simple, the tax savings are enormous. From a portion of the utility bills, travel, mortgage or rent costs to the use of cars. Check with your local agencies to get more information but do not discount this. This can be an enormous savings to your overall. One common requirement for the tax benefits is the business must be legitimate and have the intention to be profitable.
Income protection is another factor. Again, I am not an expert and I suggest you check with local agencies or your attorney. But, with the proper structuring your income can be protected for yourself and your family.
Time, if you choose to be a full time Home Based Business owner, you have total control over your time. No more commuting in rush hour traffic, not to mention the savings of gas and car maintenance. Plus, you can be home to raise your children yourself.
Types of Home Based Businesses
The types of businesses are endless, so let’s look at a few: (disclaimer, these are based strictly on my opinion and from my own personal research)
Service such as plumbers, electricians and painters can work from a home base. However, this is still a manual labor business. You will still be trading your time for money but you will not have the burden of a brick and mortar business and your profits will definitely increase.
MLM is a route many people choose to start with. The start up cost are very low. A point to keep in mind is in mlm, your success is very dependent on the work of others, plus, it usually takes years of work to build a substantial income. A couple points to keep in mind in MLM (multi level marketing) is the profits are shared with your sponsors and/or upline, and you may be required to stock some product.
Direct Sales is the route we chose and the reasons are clear to us. One profit to one person, we get paid immediately when a sale is made, and no inventory. Plus, we chose a company with high end products which increases our income potential dramatically.
I hope these points have assisted you in some way. I would like to suggest that you check out my blog, specifically this article on business modeling.
We would love to assist you in creating the substantial, six figure income working for yourself from your home. All it takes is a decision to have that level of income. We look forward to talking with you.
To your success...
Enjoying Whistler Canada
This is Our Island Home as seen from Swansboro NC (The Southern Outer Banks)
Where we spend A LOT of our time
From the desk of Wanda Grindstaff:
Dear Friend,
Jerry and I are very passionate about what we do. This is about so much more than money. Yes, the money is great, but we feel a very strong moral obligation to assist as many people as possible to make a real difference in their lives. By doing this, we are helping many others, simply because it is the affluent who make a difference in the world. It is a very powerful way to pay forward the success we have enjoyed. We are here to assist you to have success as well.
This is a real opportunity to have exactly what you deserve in life, a life full of prosperity in all areas and the time to live the life you have always planned on. Do it now, make it happen. There is no better time than today to create wealth!
To your future and your success…
Wanda Grindstaff
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