One of the first concerns about starting a home business is cost and startup capital. With people struggling to pay bills and living paycheck to paycheck, these issues are very valid. One need not assume a startup home business will cost thousands. Some home businesses need almost nothing to launch. Key examples are etsy, eBay, Craigslist or any local resale shop. Do you have a collection of baseball cards or rare coins or antique furniture? List them on the above sites or sell them at a local reseller. Instant business, minimal cost. You can build in the shipping and listing costs in the selling price.
The cost for the above business is virtually nothing. If you intend to start a slightly more complex business – consulting, freelancing or making a product – below are a list of basic costs you can expect.
2) Domain name and web site hosting – $10 to $20. Put your product or service on the Internet and sell locally, regionally or globally.
3) Accounting services – $75 to $100. Charges will vary based on complexity and information recorded for your accountant.
4) Marketing – $20 to $150. Simple handouts to email marketing to advertising in local papers or community newsletters.
Total: $180 to $400 per month for an ongoing business.
There are other potential one-time costs too:
– Legal registration of the business for the government – see http://www.bizfilings.com/ – in Illinois about $125
– Computer – if you don’t have one, shop around and buy for $350
Other important business tools are free including:
– Business cards – free through http://www.vistaprint.com
– Office software – free at http://www.openoffice.org/
– Accounting software – free online tools – http://quicken.intuit.com/personal-finance-software/mint-online-money-management.jsp
– Start a web site – some companies offer free web hosting, albeit with their advertising included
Can you afford a startup business? Yes! Ask yourself, can I afford not to start a business???
By Dion D Shaw
Dion D Shaw is the founder and owner of Homepreneurs
Homepreneurs. New Day. New Opportunities.
Homepreneurs does not endorse nor have any relationships with any of the services listed. Homepreneurs receives no compensation or consideration for its suggestions. Homepreneurs strongly urges all interested parties to conduct research and accepts no responsibility for any losses incurred.
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