Everyone thinks because they own a home based business that their life will automatically become so much easier, life will be fun, laughter, and playing all day long. This is not so! While owning a home based business can have its advantages (if ran correctly), it can also have its disadvantages.
Some of the advantages of owning a home based business would be, flexible hours, you are able to incorporate your work with your family life, no commute to work and no office politics. You become master of your own domain, take lunch and breaks when you want to and you set your daily, monthly, and yearly goals, not someone else. It can give you a sense of security (if you business does well) even in a slow or bad economy.
Now for the disadvantages, one needs to have a really good knowledge on how to run a business in order to run even a home based business. If you hire employees, are you going to pay them enough to make them want to keep working for you? Will you be able to offer fringe benefits like insurance?
Do you have enough self-discipline? There will be days when you just don’t want to do anything, will they be far and few in between or a common occurrence? The hours will be long and hard. You’ll have to deal with family interruptions during the course of the day. Owning a home based business will also mean doing the bulk of the work yourself, there is no real delegation of work to others. It will also mean you may not have a much freedom as you think. Dropping everything a 5pm and going to dinner with the family will become a scarce thing.
So before you decide to open a home based business you must weigh the good with the bad because in the beginning there will be probably more bad than good. At least until your company gets off the ground.