NOTE: This handbook is copyrighted and cannot be offered (in whole or part) for sale or for free except by written permission from me (or my assignees). If you want to use it or any part of it, contact me (or my assignees) and ask.
The following checklist contains items you should consider before selecting a home business opportunity. I am NOT qualified to give legal advice, so check with an attorney regarding these matters.
1. Do you need to get a license to run the business? Many states require that businesses get a license before they are allowed to open. This includes home businesses in many locations. Check with your local government agencies to see what you will need to have in place to start your own home business.
2. Do you need a zoning permit? If you have a home business opportunity that requires doing actual business with the public, you are going to need to make sure that you will not be in violation of any zoning laws. Most cities have very strict residential zoning requirements and it is not hard to violate them. Make sure that the type of business you want to start will be acceptable to run at your current location.
3. Do you have enough space in your home to devote to your business? ( You may not know until you finish this handbook.) Running an informational company is one thing, but if you are going to be stocking products in your home, you’re going to need enough space. For tax purposes, you’re also going to have to have a room that is completely devoted to your home business. This means no kid’s toys, or anything from your normal family life can intrude on this room. If you don’t have this kind of space you may need to add on to your home to accommodate your business.
4. Will you need to purchase any insurance? If you are doing business with the public at your home, you will need to get liability insurance. This will help protect you if anyone falls on your property or injures themselves in anyway. If you will be storing products, you will need to have them insured in case there is a flood or they get damaged in any way.
5. Lastly, consider business protection insurance that will help you in the event of any copyright infringement claims or other common complaints. Don’t forget your own health insurance, or any insurance that you may need to provide for employees. This can add up quickly and increase your overall start up costs.