For many people, the option of working from home, especially in the early days of setting up their own business, is a way of getting started without having to commit to the expense of business premises.
If the business becomes successful and bigger space becomes a necessity then it is always possible to move into alternative premises.
Let's now take a look at the pros and cons of working from home as well as what to keep in mind when you decide to take this route.
There are a great number of advantageous reasons to working from home.
It can be particularly suitable if you plan to work part time; think of the dollars and time saved from not having to travel into the office.
People who have young children or other dependents find they have greater flexibility in balancing their work commitments with their caring responsibilities.
Parents get a great feeling when their children arrive home after school and they are there to welcome and spend that quality time with them that we hear so much about.
It may also be appropriate, if your home premises are large enough, for you to identify a suitable space that can be dedicated to running your business.
It can be especially beneficial if you can separate it from the rest of the house.
We explore this in more detail in "Running Your Home Based Business - Where You Will Work".
If you are just starting your own business you probably don't have much money available and will be working within a limited budget.
Don't let the cost of renting a business property put you off starting your own business.
Working from home can help keep your start up costs to a minimum, which could prove essential to the longer-term success of your business.
Working from home could prove to be a great advantage if you can sell your services to your local neighborhood.
Whether you work from home or work at home, a local provider of a service will always prove more appealing to a potential customer for reasons of convenience, lower cost (because your overheads are less you can be more competitive in pricing) and the good feel factor of supporting a local business person.
One very important factor in deciding whether running a home based business is suitable for you is to recognize whether you have plenty of self-discipline.
Why? The temptation when working from home is to get sidetracked, and it's so easy for this to happen.
That extra cup of coffee you wouldn't have had in the past, getting caught up listening to a radio talk show, doing those chores you forgot to do the night before; these are all sure-fire ways of not doing your work.
And what happens next? Your work tasks take longer, you miss deadlines, and you are not focused.
Working from home has lots of advantages.
It can be low cost, which is good for your budget and eventually your profits.
It can offer a relaxed atmosphere to your clients if they have the need to visit you.
You can attract clients from your own area with the added benefit of none or minimum travel on your part.
It is easier to start running your home based business and you have more flexibility and can organize your own time.