Home-based businesses are fast becoming one of the best-known alternatives to supplementing a conventional 9-to-5 job. It is also a good reason to leave it. The growth of home-based businesses have been unprecedented, thanks in part to the increasing number of people who recognize its advantages and to new technology that has made running businesses from homes possible. These days, starting a legitimate home-based business is easier and cheaper.
Running a legitimate home-based business
Some of the best home businesses begin with a simple idea. From there, they can grow and become real moneymaking ventures. But whichever type of home-based business you wish to start, make sure it is legitimate. For one, a legitimate business can assure you of trouble-free operations. If you’re doing business within the confines of the law, you are assured of protection and have nothing to worry about. Second, you can hope to keep running your business for a long time to come without worrying that you might be violating laws or regulations.
To make sure your home-based business is legitimate and will keep you out of trouble, here are some important things to consider:
Are you legal?
If you’re starting the business yourself, such as when you turn a hobby, interest or training into a source of income, it’s important that you consider all the legal requirements you will have to comply with.
Your product
First, consider whether the product or service you will be offering is lawful. It’s also important to check if ingredients or raw materials that will be part of the production can be legally imported, exported, obtained or used. If the raw material used for your product is considered illegal or dangerous in your state or country, for example, it could result to getting your products seized or pulled off the market.
To prevent this from happening, always check every aspect of production or implementation involved in your home-based business. Do your research and ask local agencies for guidance so you know that what you are doing is legitimate and correct.
If you will be selling a product for someone else as a distributor or franchisee, do independent research on your own. Ask for complete information and check all claims made by the producer. It will also be a big help if you find reviews regarding the company or product in magazines or websites. This will help you make an educated decision regarding your business.
Tests, studies and government approval
Another important aspect of a legitimate home-based business is approval from the appropriate agencies. If the main objective of your business is manufacture of products that involve health or technology, for example, you might have to show proof that the products truly work. This is usually done by presenting evidence of direct or related tests or studies that corroborate your claims. If you will be selling health supplements, for example, you should be able to prove that your product is safe and effective.
Permits and licenses
To keep your home-based business legitimate, find out first what types of regulations or laws restrict the distribution, production or selling of the product or service that you wish to offer. If you’re considering a franchise or buying an established business, research the necessary information to check if the business is legitimate or not. This will help protect you from making any unintentional violations. The type of business you run and your location will also be a factor. Cities, counties and states have local regulations or zoning requirements that will determine the legitimacy of your home-based business. These regulations are in place so public safety is enforced. If operating your business will mean that public safety will be threatened, you may be legally prevented from continuing.
To keep your home-based business legitimate, check with your local agencies, particularly with those who have jurisdiction over the type of industry you will belong to. For example, if you will be making food products from your home kitchen, you will have to comply with regulations imposed by the health department. If clients and suppliers will be visiting your home for appointments or if you will be putting up signs, you should be able to comply with zoning regulations in your locality.
To keep your home-based business legitimate, always do the initial research first, prior to starting the business or signing up for it. Remember that it’s a lot cheaper to follow rules and implement preventive solutions than to be involved in a lawsuit.
Copyrights and trademarks
Another important consideration to ensure that your home-based business is legitimate is to determine if there are no copyright or trademark infringements. This applies equally whether you own your business, buying an existing one or running a franchise. Infringements can carry a significant fine and will not be helpful for your business. Plus, you could lose your license and the right to operate.