When you run a business from home you will not only be earning money you'll be saving money as well. This not-so-obvious benefit to home-run businesses applies to any type of business but especially to internet marketing businesses. It is a factor that should be seriously considered when drawing up a business plan for a new business from home.
Firstly, there's the question of office space. You do not need a fancy office to run an internet marketing business and running it from your own home means you don't really require any sort of office at all: you simply use the room in which you normally house your computer. This might well be a study or some other especially set-aside room, but it could well be part of your livingroom, your kitchen or even a garage. Whatever the arrangement you personally make, the big plus-factor is that you do not have to pay rent for an office. So that's saving number one.
As a bonus to this saving, call it saving number two, you should also be able to claim the expense of running an "office" from your home against your income tax.
Generally speaking, any expense that you incur in the process of earning your income is a legitimate claim in respect of income tax. Laws and regulations vary from country to country but it's worth speaking to a tax expert about this. Many home-based businessmen put it this way: they are using (for example) one-tenth of the area of their home for business purposes. This allows them to offset one-tenth of their mortgage repayments or their monthly house-rental as a genuine business expense.
It also means they can offset one-tenth of their other business expenses too: such as telephone, electricity consumption, repairs and maintenance, heating and any other household expenses that genuinely incurred when working from home.
Third on the list is the saving of travel expenses. Work out what it really costs you to get to and from work every day - to go to and return from an office or factory. When you are working at home this is money in your pocket! No longer will you have to fork out for fuel for your car or for train or bus tickets. Most people with a "conventional" job like to dress reasonably well to go to work. Bankers and lawyers are almost obliged to wear suits but even those people in "ordinary" jobs like to appear neat and tidy for the trip to work and for while they are working amongst their colleagues. This is especially pertinent if you deal with the public.
When you work from home, very few people get to know how you dress or what you are wearing. When you're sending out newsletters or writing articles about internet marketing, the only person who knows that you're dressed in an old tracksuit and a pair of soft slippers is you!
So saving number four is what you save on not having to buy smart, fashionable clothes. Again, money in your pocklet.
Finally, it's a lot cheaper to drink coffee and eat snack lunches in your own home than it is at the corner diner or the local take-away. We're not talking of hundreds of thousands of bucks here, but this can certainly be counted as saving number five.
So, if you are planning to run a business from home - be it internet marketing, affiliate marketing, writing e-Books or any type of home-based business -it's a comforting thought to bear in mind what you'll be saving on top of what you expect to be earning by working from your own home. It's worth bearing in mind when you're preparing your business plan.
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