10 Benefits of Operating Your Own Home-Based Business | International Franchise Association

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10 Benefits of Operating Your Own Home-Based Business

 

 

 

Being an entrepreneur is hard work, and many people are afraid to take the leap. However, the rewards of building a successful company can be enormous—here are 10 reasons why starting a home-based business is a great idea.

1. Flexible Work Schedule

Tired of the 9-5 grind? One of the many perks of owning your own business is the ability to make your own schedule.

Yes, you’ll still have to coordinate with clients and others, but if you want to take a family vacation, you don’t have to ask for approval. If you need to go to a doctor’s appointment, you can simply schedule around it.

2. Be Your Own Boss

Entrepreneurs often share a common trait—most don’t love being told what to do.

Of course, owning your own business doesn’t mean you’ll never be told what to do again. Clients, the law, and other outside forces will always be an influence. However, when you own your own business, you get to be the one with the final say on important decisions.

3. Pursue Your Passion

Are you tired of working hard on someone else’s dream? Owning your own business gives you the opportunity to turn work into something you love.

The average adult will spend over 90 thousand hours at work in their life. Wouldn’t you rather do something that you can’t stop thinking about before you go to sleep and lights a fire under your feet when you wake up?

4. You Can Build Something

Have you ever wanted to build something but felt limited by your job? When you own your own business, you have the opportunity to build something bigger than a line on your resume.

As you see your business grow and thrive, you can take pride in seeing how far you’ve come and how much you’ve built through your sweat and tears.

5. Tax Benefits

As a business owner, you may qualify for different tax benefits related to creating and growing a business. You might be able to write off several business-related expenses you might not think of off the top of your head.

Before you file your taxes this year, talk to an accountant about what tax perks you might qualify for as a business owner.

6. Less Commuting

Even those who love their jobs might have a hard time getting out of bed in the morning when they think about their commute.

If you own your own home-based business, you can forget about the daily commute and focus on the work that grows your business and your paycheck.

7. Building Meaningful Connections

As you build your business, you can enjoy meaningful connections with your clients, other entrepreneurs, suppliers, etc. Small business owners have so many opportunities to work with people one-on-one instead of hiding behind a corporate image.

8. Challenging Yourself

There are many words you can use to describe the life of an entrepreneur, but mundane is not one. Every day brings a new challenge to overcome. Owning your own business creates a life of trials, triumph, and growth.

9. Leaving a Legacy for Your Children

When you find success as a doctor, lawyer, or even an executive in someone else’s company, you might be able to build a reputation and financial comfort to give your children when you’re gone, but as an owner, you can leave them something more tangible—your business.

10. Limitless Earning Potential

At most jobs, you are limited by a salary. Sure, you may earn bonuses or raises, and some companies offer commissions, but there’s always a boss who determines how much you make.

Forget about arbitrary limitations. As your home-based business grows, so does your earning potential and your potential for enjoyment in your career.