Home Business Ideas and Tips

Home Business Ideas

phylisrn — Wed, 18 Mar 2009 01:48:24 +0000

Transitioning from corporate office to home office is not as tough as you may think. While each homebased business has different needs, every home office must provide the same basic functionality:

A clean, well-lighted place for the owner to run the business free from noise and distractions
A place to sit down and work (desk, chair, lamp)
A place to store information about your customers (computer, filing cabinet, electronic organizer or database)
A way to communicate with your customers quickly and efficiently (phone, fax machine/software, Internet connection)

Since most homebased businesses are service businesses, not retailers, manufacturers or wholesalers, it’s rarely necessary for a home office to be large enough to store inventory or component parts. And since most home based business owners travel to their clients’ offices for meetings, you probably won’t need a conference room, a white board or a projector.

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Home Business Networking

phylisrn — Wed, 29 Oct 2008 01:44:47 +0000

Are You Working Harder than Ever, but Still Worried About Downsizing and Layoffs?

phylisrn — Wed, 29 Oct 2008 00:00:16 +0000

Benefits of Home Businesses…

* 84% recommend working from home to others.
* 86% of home-based business owners are happier running their own business instead of working for someone else.
* 20% of home entrepreneurs reported that their businesses grossed between $100,000 and $500,000 last year.
* 14% paid themselves annual salaries of $50,000 to $250,000.
* 29% work at home with other family members.
* 83% spend more time with their families.
* 60% think their businesses are doing as well or better than they expected.
*
76% expect their home-based business revenues to grow this year

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Small Business: Insurance for your home-based business

phylisrn — Mon, 27 Oct 2008 23:33:37 +0000

Such are the perils a home-based business may encounter — unfortunate incidences, which at the very least, can cause financial strain on owners, and at worst, can drive them out of business, unless there’s adequate insurance coverage.

Trouble is, many of the estimated 11 million owners of home-based businesses nationwide don’t bother to obtain additional coverage, insurance experts say.

“They think their homeowner’s or renter’s policy will cover them — that’s usually not the case,” said Jeanne Salvatore, spokeswoman for the Insurance Information Institute in New York.

What kind of insurance do you need?

A typical homeowner’s policy provides only $2,500 worth of coverage for business equipment, which is barely enough to handle the cost of most high-end personal computers and printers. The typical policy also doesn’t cover liability should someone become injured on your property during business hours, for example, and it certainly won’t include reimbursement for interrupted business.

To adequately insure a home business, owners have three basic choices: obtain endorsements, or added coverage, to their existing homeowners policy; buy a policy that specializes in in-home business; or buy a policy for small businesses.

The first option is often only recommended for the smallest of home businesses — that is, businesses generating $250,000 or less in annual receipts. Those who might fall into that category: freelancers or consultants working largely out of a home office.

Depending on the type of business being operated, you may be able to double your standard homeowner’s policy limits for business equipment from $2,500 to $5,000 for as little as $14 a year. Additional liability coverage of $1 million or more may be purchased for around $200.

Keep in mind, however, that homeowner’s policies exclude flood coverage, so if your business is located in a flood zone, you’ll likely need to buy a flood insurance policy from the National Flood Insurance Program.

“Talk to your agent first to find out what coverage you already have and what you will need,” Salvatore said.

Special coverage for professionals

In-home business policies provide more comprehensive coverage. For about $200 a year, you can insure your business property for up to $10,000. General liability also is included, but business owners can purchase up to $1 million more for an additional fee.

Salvatore also recommends individuals in certain professions obtain professional liability coverage.

“A lawyer or a psychologist working out of the home, for example, will need it,” she said.

One of the big advantages of in-home business policies is that they provide business-interruption coverage for those who may be unable to operate a business because of damage to their home. That includes lost income and ongoing expenses such as payroll for up to a year. The policy also provides limited coverage for loss of valuable papers and records, accounts receivable, offsite business property and use of equipment.

But not everyone can obtain this policy, since not all states permit its sale right now, according to Salvatore.

“It’s relatively new,” she said. “We’ve seen more and more of them in the last couple of years … (as) the number of people who are starting business out of their homes has been increasing.”

She says such policies are ideal for people with part-time home businesses.

Venturing out of the home

For those with more involved operations or whose livelihood depends on a home business, business owners package (BOP) policies are recommended since they provide more extended coverage.

BOPs, like in-home business policies, cover business property and equipment, loss of income and liability. However, they’re on a much broader scale.

They’re ideal for home-based businesses that operate out of more than one location or manufacture products outside the workplace.

And speaking of venturing outside the home, if you’re using a personal vehicle for business activities, such as transporting supplies or visiting customers, you’ll also need to check whether your automobile policy also covers accidents which may occur while on business.

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The Joys of Owning Your Own Home Business

phylisrn — Sun, 26 Oct 2008 23:53:53 +0000

When you work from home, there is usually little start-up costs involved in getting your business going. You already have a living accommodation that can double as your office, so you save from paying office rental.

Theres the freedom to set your own work schedule. No more having a boss telling you what, when and how to do your work. You don’t need to travel in bad weather or being stuck in a traffic jam.

You don’t have to pay childcare costs or travel expenses such as gas and automobile maintenance. Many people in business are deciding to work from home so that they can spend more time with their children and family.

Health care has been an ongoing debate, mean while millions of Americans are without dental and medical coverage. Fortunately, Ameriplan, has created an alternative solution for this national problem

Ameriplan is a company specializing in dental and medical plans.

We are always looking for representatives to market the plan. This is a wonderful opportunity to have your own home business.

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