Income from a Home Based Business
What kind of income can you expect from working at home? Will it be supplemental or full-time? Will you be able to replicate previous salaries with the one you will be earning from home?
These are the questions we will be answering in the following section. The question of income is one of the most important when it comes to examining the possibility of working from home.
People base their lives around the incomes they make from their jobs.
Family budgets, college plans, vacations and many more factors surround the issue of income.
There are two types of incomes you can expect in working from home: supplemental and full time. Both are equally as achievable and both are very different. The important thing to remember about the income you make in working from home is that it will drastically vary from person to person and from job to job. Many people who work from home were professionals in a field who have a client base that is solid enough to let them work from home. This is especially true for journalists who worked in-office but now are freelance writing from home. Business professionals as well also move from the office to home when they can provide services because they are established enough to work away from the office. Consulting is a huge at-home business that reflects a demographic of people who have worked for years in an office and who now enjoy a more flexible work schedule due to the success they had earlier in their careers.
For the most part however, people reading this information are just beginning to examine the possibilities of working from home. The fact remains, and it is a general rule of business, that the same business model used by one person will yield different results when being used by someone else. This is especially true when it comes to the subject of income. In this section the information provided is meant to be understood as a generalization and should be used as an informational tool.
None of the information in this section is meant to offer concrete predictions about the income you will earn while working from home.
Supplemental Income and Working From Home
One of the largest demographics of people who work from home are stay at home parents and start-up or side businesses. This demographic represents a group of people who statistically earn supplemental incomes when working from home. This generalization is true for several reasons. Parents who work from home are usually occupied a portion of the time by kids or other household distractions and demands. This is especially true when young children are in the house. As such, less time is available to dedicate to work. This simple time constraint is one reason working from home is largely supplemental.
Even people working from home who are not stay at home parents often work on a part time schedule due to classes, other jobs and various other commitments.
Most businesses will tell you that during the start up phase, there is a lot of time commitment involved and not a lot of money. Several businesses earn their start by cutting corners on costs and working out of the home until they are ready to transition into bigger spaces. While working from home may be a transition for some businesses or a permanent residence for others, when businesses first begin incomes are more likely to be supplemental.
Keep in mind that while these supplemental incomes may not be full time salaries, often times people who work from home, do quite well in terms of earnings.
Full Time Incomes
Many work from home professionals earn full-time incomes from their businesses. Again this largely depends on the business but it is common for writers, contractors, stylists, day care owners, consultants and other businesses to make just as much from home as they would in an office.
While the majority of people who work from home report supplemental incomes over full time incomes there are many opportunities to make full time earnings from a business that takes place in your home.