Talk about making sure that business is not illegal i.e. drug related. Is there a market for your business – does it exist already Will money coming in be greater than money going out and enough to live off.
Lower overheads, good for working mums etc
You can portray a corporate image through the way you market your business – i.e. professional website.
A website gives you the same size shop front as everyone else – make the most of it Example of client getting ready for work leaving by the front door and going to the garage
John’s example of client turning up in Chauffeur driven Bentley and being walked through the house.
Home sweet home working -
Home Sweet Home Working
Working from Home – Is it for me?
• Pros & Cons of running a business
• Have you got a good idea?
• Have I got what it takes?
• Pros and cons of running a business from home
• Issues and implications of running a business from
• Hints and tips
• When is it time to leave?
• Any Questions
Pros & Cons of Self employment
• You are your own boss
• Time is flexible
• There is no ceiling on
• Job satisfaction
• There may be tax
• You make the decisions
• You need self-discipline
• You have to manage your
• There is no floor on your
• You are completely
• No payment for sickness,
Key Questions to Ask Yourself…
• Is my idea legal?
• Will people buy my product / Service?
• Will I make a profit from my business?
• Can I make a living from my business?
• Have I got what it takes?
Have you got what it takes?
• Skills – Technical, business
• Characteristics – Attitude, Discipline,
• Support – family, financial, professional
• Capacity / time – 168 hours per week
• Space – premises, home, serviced office
Pros of working from home
• Low cost
• Offers convenience and flexibility
• Supports work / life balance
• Overall can be less stressful
• You may be able to get tax relief on
• More practical for people with special
needs or disabilities
Cons of working from home
• Professional isolation
• Difficulty separating personal life from
• Easy to become distracted by domestic affairs
• May undermine professional image
• May need planning permission
• May need to pay business rates
• Clients may turn up uninvited or late
Home working Issues to consider
• Does your lease / deeds allow you to run a
– Tell your landlord / mortgage provider / Home insurance
• Do you have space to work effectively
– Can you leave your papers untouched overnight
– Is your kitchen big enough
– Do you have enough storage space (DPA?)
• You may need to apply for planning permission if:
– You change primary use of premises
– Clients coming and going
– Creating smells, noise
Issues and Implications of Working from Home
• You need to comply with Health & Safety
• Don’t forget your family, friends, and
• You may need a trading license
– i.e Child minding, health & beauty, food (LA
• You need to comply with the Disability
• IT & Communications
Hints and Tips
• Working from home does not confine you just
– Meet your customers
– Meet your networks and attend events, forums and
– Market research is not just about sitting behind your desk
• Consider buying used furniture
• Set aside a separate space and ground rules
• Set up a separate phone line
• Working from home does not mean you have to
look small to your customers
• Go to work! (get yourself in “the Zone”)
When do I Leave Home?
• When image becomes important
• When you need to recruit employees
• When your domestic equipment / space
• Personal desire