September 5, 2017
Life is expensive. Even with a household budget comprised of two monthly incomes, the demands of our modern lifestyle deplete our funds as soon as they are deposited into the bank. This is why most households have begun to embrace the entrepreneurial spirit and run a home-based side business.
Thanks to the Internet and home computing advances, the potential for having your own start-up has never been greater. If you have ever had an artistic streak, you can venture into freelance design or sell your artwork on Etsy. Are your strengths based in something more practical? You could capitalize on tax season as an accountant, pick up a few bucks as a notary, or offer your services as a fitness instructor or a consultant. Maybe you are at home caring for a little one. You could open your doors to a few other kiddos at your own childcare service, offer tutoring for the older kids, or put that heirloom piano to use by giving music lessons.
With a little bit of imagination, the possibilities for a side gig are endless. That’s why the U. S. has seen a start-up boom within 38 million households reporting over $427 billion in annual revenue. Broken down to individual businesses, the average expected income is about $44,000, but the top 20 percent have been known to annually bring in $100,000 to $500,000.
One major reason behind the success of home-based business is that they require minimum overhead. 44 percent of home-based start-ups reported beginning their ventures on as little as $5,000. This includes necessary purchases such as a new computer and software, state business registration, contracting services from attorneys and accountants, and other equipment and goods needed to conduct day-to-day transactions. That may seem like a lot, but it’s not bad compared to the $30,000 it takes to launch a traditional brick-and-mortar enterprise.
Even so, $5,000 isn’t something to laugh at. If you are commencing at-home commerce, more than likely it’s because you need to make more money rather than spend it. That’s okay, though, because in the end, not only have you invested in a solid foundation that will support the growth of your business, but also you get a pretty sweet tax break from having an office in your home.
To gather start-up capital, many entrepreneurs secure financing or loans to jumpstart the process of setting up shop. The traditional route is with banks, or even by taking out a business credit card, but this route could create some barriers if you are still building your credit. One quick workaround is applying for car title loans in Memphis.
Car title loans in Memphis allow you to leverage your vehicle with no credit checks or waiting periods. All that is required is a drivable vehicle, its lien-free title, and a photo ID. If you bring those in to a Mid-South Title Loans office, you can receive a cash loan of anywhere from $150 to $2,500, based on your vehicle’s value.
If you are ready to start generating side income with a home-based business, don’t let a lack of cash hold you back. A car title loan in Memphis from Mid-South Title Loans can give you your start-up capital fast and hassle-free. Stop into any of our three convenient Mid-South Title Loans locations in Memphis today!