Dear Reader,

These articles will provide a step by step guide on how to start and run a home based business based on my experiences and other home business owners. This is part 1 in a series of 5 articles. They are written in a basic format and where possible main points are summarised in an attempt to be understood by all. I have tried to minimise technical jargon as much as possible.

So lets jump right in and see what we need to know about starting and running a home based business.

Regards,

Alvin http://www.parttimeincome.org

I publish Home Business Tips, a fresh and informative newsletter dedicated to supporting people like YOU! If you’re looking for best rated home business opportunities, latest time saving tools and helpful support from a friend in business, come by and a grab a F-R-E-E subscription today at: http://www.parttimeincome.org

What type of business?

The following is a list of business that can be run from home. Look through list and note any that grab you, these may give ideas to explore and develop. Please note that this list is not exhaustive, there are many home based business opportunities out there!

§Aromatherapy §Beauty therapy §Book keeping §Computer repairs §Desktop publishing §Event management §Furniture restoration §Graphic design §Hairdressing §Interior decorating §Network marketing §Resume writing §Tutoring §Web design

Will it work?

Many people waste their resources on good ideas, but not viable business propositions. You need to conduct a feasibility study to test idea and help you make a decision whether you need to pursue it or not. More on this later.

Essentials you must consider for a home based business:

§A good idea §Money §Time §Customers §Location

Remember this is a business and a business requires time and money. Be sure you allocate sufficient amounts of both of these when you do your research.

A good place to start your research is to see if someone else has done it before at another location. Find out if they were successful or not and why. This may involve a simple e-mail or a telephone call, you will be surprised how many people are willing to tell you their story.

Legal matters

A decision will need to be made on legal structure to operate business, eg: sole proprietor, limited company. You are best to check with a qualified professional, like an accountant, to determine what will be best for you.

Business costs

You have to take things seriously, a business needs capital to start up and operate. You need to calculate business expenses and following list will help you think about and estimate some costs. Remember these are listed to stimulate you and because your business may be different, you may have different costs.

Business expenses §Start up capital §Telephone, fax, computer

Operating costs §Insurance §Cleaning §Gas & electricity