Start & Run a Gift Basket Business. Mardi Foster-Walker
area that can be kept out of sight. Generally your customers will never see your work space, so it is unnecessary to invest in expensive furniture and decor. Use your capital to market your business.
There are numerous tax advantages to having your business in the home. To take full advantage of these tax breaks, your home-based operation must take up an entire room, which is devoted solely for the purpose of your business. These tax advantages are discussed in further detail in chapter 12 on accounting and taxes.
2. The business and your family
Most often the spouse who chooses to work at home is the one with primary responsibility for child care. Blending the two tasks is no easy matter, particularly with very young children. The needs of the children and the demands of the business are often at odds with each other.
Doing some advance thinking and preparing for it will help you deal with the conflict. Understand from the beginning that simply working at home may not completely eliminate child care concerns — although at first, when the demands of the business are small and you can easily adjust your schedule to conform to that of the children, it may seem so. This could change rapidly. It is best to think about how you will handle child care well in advance of starting your business. If your children are very young, you might consider these options:
(a) Work around your children’s schedules
(b) Work while your children are in school
(c) Hire in-home care
(d) Take your children to out-of-home care
Your need for child care while running your business will depend on several factors, notably your financial objectives, the time required to meet those objectives, and the ages of your children. The children, however, regardless of age, will be affected by your decision to start your business from the home. Tell your children as openly as you can about your plans. Younger children need to understand, for example, that your gift basket supplies are not available for their art work. Older children can understand the importance of your work and help out by assuming more household duties.
And while it is crucial to explain to family members the importance of your work, it is equally crucial that you balance the time between your work and family. It is sometimes difficult to leave a home-based business behind. Many home-based business operators find themselves going back to work after dinner, late at night, or on weekends.
For your sake and that of your family, don’t turn yourself into a home workaholic. This is another reason for that separate, self-contained work space. Closing that door at the end of your work time gives you a clear dividing line between work and family needs.
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