The idea of running a home business can sound like a walk in the park. What is so hard about waking up in the morning, commuting to your designated office space at your kitchen table, and working in pajamas? Before you quit your day job, verse yourself in these important facts about running a home business.
1. There are more than 38 million home based businesses in the United States.
2. The home business industry is worth more than $427 billion.
3. An estimated 44% of home businesses started with less than $5,000.
4. More than 51% of all small businesses in the US are operated from home.
5. Home businesses have exponentially increased in recent years, more than doubling since 2010.
6. An estimated 7,200 home businesses start each day.
7. More than 67% of home businesses are focused in the marketing niche.
8. 7 out of every 10 home businesses are still operating after three years.
9. The percentage of failure of home businesses are 40% less compared to brick and mortar stores.
10. More than 82% of home businesses are marketed through social media.
11. Half of home businesses are credited with producing more than half of owner income.
12. Approximately 40% of home businesses produce more than $100,000 in yearly revenue, with 10% exceeding $400,000.
13. An estimated 10% of homes in the United States run a home business.
14. The average home businesses has at least 2 employees.
15. Products sold from home businesses are more than capable of competing with other available products on the market.
Arming yourself with these important facts will help place your own home business idea into more perspective. The odds are far from being against you, so why not take a leap?