Program #5: The Ruby Slipper Initiative
There are 38 million home-based businesses in the U.S. — this means that starting a business from home is more common than one might expect! According to survey data, U.S. home-based business opportunities are surprisingly plentiful and prosperous.
Neighborhoods all around the United States are full of home-based entrepreneurs who are succeeding in business on their own terms, working from home and perhaps selling online working from home.
Home-based companies are generating big bucks — with total annual revenue of $427 billion per year!
Many people have the misguided idea that home-based businesses aren’t “real” businesses — like you’re somehow “less” of a success if you work from home instead of having a brick and mortar storefront. But according to this survey data, business is booming for home-based entrepreneurs. 20 percent of home-based businesses make $100K-$500K per year — that’s a very comfortable income for anyone working from home!
According to Small Biz Trends, women are more likely to operate home-based businesses. 72 percent of women who own startups operate the startups out of their home, compared to only 61 percent of men who own startups, and 68 percent of women business owners are still running their businesses from home after 3.5 years, compared to just 53 percent of men. This is a sign that home-based businesses can be a good solution for women entrepreneurs who might have less access to startup capital, or who might be juggling the obligations of work and raising children or caring for family members. Women often want more freedom and flexibility in starting a business, and running a business from home often enables them to have the best of both worlds — a substantial business income but with a flexible schedule.
Starting a home-based business is an ideal way to save money and enjoy a more convenient, flexible schedule while learning how to build a profitable company. After a few years, once the business is more established, expanding the footprint of the company by renting office space or warehouse space or by creating a retail storefront is plausible — but especially in the early days, by using online sales technologies and by keeping your overhead costs low, a home-based business might be the best route to long-term business success.
Through the Ruby Slippers Iniative, the BusyGal HELPS Foundation will support 40 Women Over 40 per year per state by providing licensing opportunities to run potentially lucrative home based businesses in multi-billion dollar industries and markets utilizing the Market America | SHOP • COM Unfranchise Business Model.