Is there a limit to how much you can make at home ?

ChrisFarleyChrisFarley Posts: 20subscriber
edited October 2007 in Selecting a Business
I am interested in starting my own home based errand/delievery service but i want to run it out of my house and maybe hire employees but, i want to keep it in my house.  Is there a limit to the amount of money you can make?

Comments

  • HomeGurdianHomeGurdian Posts: 0subscriber
    Hi Chris, Nice post! You answer is you can run your company out of your home. Dollar amount doesn`t matter. I do. Reguarding employees. Don`t have them. Treat as a sub contractors. Pay them a set fee. You will nee to make up a fee schedule for them. Hope this helps. 
  • LizardWisdomLizardWisdom Posts: 0subscriber
    There is no limit to the amount of money one can make from home. However, it is entirely dependent on what you are doing from home.
    For example, a home based errand/delivery service definitely has its limits to the amount of money that one can make. Remember, there is only so much one person can do in one day, or in a given amount of time. You can only be in one place at one time, therefore if your business is dependent on someone being present in order for money to come in, then you have a definite limit.
    Yes, you could hire employees to "replicate" yourself. Then you have to deal with employees. Or deal with sub-contractors. Remember, the IRS has some pretty harsh rules about sub-contractors. We are not CPAs or lawyers, but if we remember correctly, there is something about they cannot do 100% of their work for one company (you) and still be considered sub-contractors. If they look like employees and smell like employees, then they are employees. Check with a lawyer or CPA before you start playing the sub-contractor game.
    Now, if your business is related to something online, then the profit per employee potential has much less limit. In other words, with just one of you, you can make bucks! Especially if you are doing something that doesn`t require your 100% attention like affiliate marketing. Even something like eBay makes you money while you sleep. Find something that makes you money while you are away. This is the goal one should have!
    Pick your chosen profession well and make sure you consider how much of your time is required to make a certain amount of money.
    Good luck!LizardWisdom10/20/2007 12:12 PM
  • 3genconsulting3genconsulting Posts: 0subscriber
    I have to agree with lizardwizdom. You can not hire people directly and call them subcontractors. There are various laws saying a contractor has to be able to lose money working for you, can work for you 100% of the time, you can not tell them what to do day-to-day, i mean it`s pretty air tight. Like all other laws there are loopholes though, you just have to find the correct way to structure yourself. You may also have to think about zoning laws. In some jurisdictions it is illegal to run a business out of your house (if you have customers visiting) if you don`t have a permit. The key to running a successful business is having good advisers though, so get a CPA, maybe consult a lawyer, and think about start-up consulting to get things rolling correctly.
  • WebJunkyWebJunky Posts: 8subscriber Member
    are you kidding me?  whether you work from home or not there is no limit to what anyone can earn, as long as there is no limit to your desire, persistence and initiative. keep learning, trying, monitoring, enhancing and there is no reason you will see a limit.  there are always 1001 ways to skin a cat or anything else....multiple streams of income is a growing trend.  take what is profitable and market it through multiple channels to multiple demographics...that is just one example how you can expand profits exponentially.
     
    a long winded answer to a simple question. the short answer is NO, there is no limit.
     
    good luck
  • andreahessandreahess Posts: 1subscriber
    The only limit to how much money you can make is the limit on your passion and creativity.  Yes, zoning laws and understanding what a subcontractor is is definitely important.  But you know what?  The most important thing with any business is just to START!
    Don`t shoot for the 5-year plan that makes millions.  Just start getting cash-flow going.  When you recognize that you income is limited by the amount of hours you yourself can put it, you`ll start getting creative.  But you really don`t know what your business will look like until you get going.  So just start!  There are no limits.
    Blessings,
    Andrea
    http://intuitioninbusiness.com
  • WebJunkyWebJunky Posts: 8subscriber Member
    well put Andrea - it can`t be said any better
     
    Just Do It - as Nike says
     
    many people site and go crazy thinking about home run ideas so that they can retire overnight.  is that really necessary?  many people are happy with an extra 1, 3, 5 or 10k from their ventures at home.
     
    i built all my websites in my spare time.  i still maintain a demanding corporate career.  all i wanted was an extra 1k per month...that became 2 and 3 and now more and counting.  stick with it and there shall be no limit.
     
    good luck
  • flyemhighrocketsflyemhighrockets Posts: 1subscriber
    In one word "NO!!" there is no limt to how much you can make at home.
  • Tabor88Tabor88 Posts: 3subscriber
    Of course there is no limit as to how much you can earn from home, however there is a limit as to what one person can physically accomplish in a 24 hour period.  
    Start your errand business, it is a good idea.  But do not limit yourself to just that.  Use the money that it brings in and begin thinking of another income stream and keep going from there.  Personally, I have always been big on residual income opportunities, as not only do they multiply your time but they also pay you over and over for work that has long been done.  Stay focused, hold on to your dreams, and the the sky is the limit!Best of LuckTabor8811/29/2008 1:43 AM
  • RetiredMember5RetiredMember5 Posts: 0subscriber
    You can definitely run your business from your home.  When it is appropriate to expand into another location and/or facility, then encounter that when necessary and revenue supports such decision.  In the meantime, check out our FREE entrepreneur guide as to how to start, operate and grow a business in today`s web 2.0 world.  I am confident this may assist you with growing your business in the internet market.
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