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Checklist for Starting a Home-Based Business
Checklist for Starting a Home-Based Business
Get your home-business off the ground with our comprehensive checklist for starting up a home-based business venture. For your convenience, we’ve included links to relevant business services and suppliers in our business directory who can help you get your home business up and running.
Ground work
- Assess whether your home-based venture is a legitimate business or simply a hobby.
- Determine your income and lifestyle goals for starting a home-business.
- Decide how you want to work (e.g. own business operator, freelancer, consultant or contractor)
- Determine whether your current home is suitable for running a home business.
- Consult your family and neighbours about any potential impacts of your home business.
1. How committed are you to this venture? Is this something you must do, or are you simply ‘testing the waters’ to see how things go? 2. How much time can you put into this business? Can you devote yourself to your home business full-time or do you have to work around children’s schedules or other obligations? 3. Do you have a dedicated area in your home that you can transform into an adequate home-office for your business? |
Getting started
- Write a business plan for your home-based business.
- Determine your business structure (e.g. sole proprietor, corporation, trust).
- Name and register your home business.
- Register a web domain name for your home business.
- Determine the level of start-up funds you will require.
1. How much money do you want to make? Do you want to generate a full-time income from your home business or do you simply want to supplement your income? 2. How much money are you willing to put into this business? 3. What are the key business milestones you want to achieve during your first year? What are your turn-over or growth targets? Are they realistic? |
Finance and Legals
- Investigate your legal obligations as a home business.
(e.g. council signage regulations, OH&S, insurance, zoning etc) - Ensure you can legally conduct a home-business according to your mortgage or rental agreement.
- Make sure that you can legally conduct your business from home according to council regulations.
- Apply for any permits or licenses that you require.
- Get the funds you need to kick start your home business
(e.g. government grants, small business loans, own investment etc) - Separate your business finances from your personal finances and set up separate accounts.
- Get appropriate insurances for your home business.
- Investigate the taxation implications of conducting a home-based business.
- Register for GST if applicable.
1. Will you have any staff working for you on-site at your home? 2. Will customers or clients will be visiting your home to access your services or products? 3. Have you checked the zoning and use regulations for your residence with your local council? |
Nut and Bolts
- Establish an appropriate office space in your home.
- Make any necessary structural changes to your home
(e.g. extra phone lines, air-conditioning, client parking etc) - Purchase or lease office equipment.
(e.g. computers, photocopier, furniture, etc) - Organise and stock your home office with relevant supplies.
- Set-up electronic business systems
(e.g. payroll and accounting systems) - Investigate e-commerce opportunities
- Hire office support if required
(e.g. part-time accounts person)
1. What are your home-office requirements? How much space do you need? Do you need additional parking for clients or customers? 2. How can you optimise your home-office space for business? Can you install a separate phone-line, high-speed internet or air-conditioning? 3. If clients or customers will be visiting your home office, is your office comfortable and presentable? Would you benefit from professional office design advice? |
Marketing & Promotion
- Write a marketing plan for your business.
- Create a logo and website.
- Get business stationary and signage.
- Ensure that your office and entry present well to clients and customers.
- Set a launch date for your home business.
- Publicise your home business.
(e.g. business directories, local newspapers, trade magazines & online) - Launch your home business.
1. How will your customers find your home-based business? Do you have adequate street signage? 2. Have you listed your home-based business in the appropriate business directories? 3. What are the best advertising and promotional channels to reach your potential customers or clients? Articles in trade journals, ads in local newspapers, online advertising or direct-mail flyers? |
An online network and one-stop-shop for home based business information. Government information service for home-based businesses including tax information. Information on licences required to operate your business in Australia. Free service to help you find a wealth creating home business. |
Important - Read This: This information is intended to provide general information only which may not be applicable to your particular circumstances. You agree to access this information at your own risk and that First Point Media is not liable to you for the content of the information or any reliance by you on this information.
