Starting a home-based business can save you money over renting office space. A home-based business can be started with little upfront capital and can reach profitability quickly. Another benefit is the tax deduction for home-office expenses. There are many ways to make money from a home business, using space and equipment that you have already paid for.
Many home-based businesses can be run with a simple laptop or desktop computer. Whether you are providing services for clients through the Web or email, or preparing documents for local customers, a computer-based business takes little start-up money and can produce steady revenue. Check your existing equipment (CPU, printer, monitor and so forth) to make certain it is up to standard and will be able to handle higher volumes of processing. Buying new home-office computer equipment may be necessary, but it is becoming increasingly affordable. Plan on replacing your computer every two to three years, as new software often takes more space, and eventually you will need to upgrade.
Day Care Business
Running a day care or baby-sitting service is another way to use your home for a business. Check first with your local bylaws to get up-to-date information on licensing, restrictions and child care laws. Childproof your home and put all dangerous items in locked areas away from the care space. Most municipalities will have restrictions on the number and ages of children that can be cared for in home-based day care businesses. You may have some children with you throughout the day and some only before or after school, so remember to count all the children for bylaw purposes.
Meal Preparation Business
Starting a meal preparation business allows you to use your kitchen to make money. Many busy families do not have time to cook from scratch and don't have the budget to go out to dinner regularly. A meal preparation company cooks dinners at home and then distributes them to customers on a regular basis. You can set up a website to take weekly orders and track deliveries. The main cost of starting up is a stock of ovenproof baking dishes with lids.