There are almost as many reasons to close your home business as there are reasons to start a home business. Deciding to close your home business can be a hard decision to reach and it is a very personal decision.
I will try to list some of the factors that will help you make your decision.
1) You have received a dream job offer. It is an offer for a job that you have always wanted; but, you cannot take the job and still run your home business. It is better to close the home business than to always look back and regret not taking the job. If the job does not work out you can always start the home business over; but, job offers for dream jobs do not come along every day.
2) You have given your home business time to grow and catch on; but, you are only losing more and more money. It is time to give up the business. Perhaps you were in the wrong business or you did not have the necessary skills to make your business work. There comes a time when you have to say “enough”.
3) Your health is suffering. If you can no longer physically keep up with the demands of your business and you cannot afford to hire someone to do the work you can no longer perform; it is time to close the home business.
4) It is time to close your home business when it is taking over your life and/or causing family problems. When you no longer have the time to spend with your family or do the things you enjoy it is time to close up. You cannot allow a home business to “take over” or it becomes a “monster” that needs to be caged or “put down”. If the business is doing well enough to move out of the home and you can afford to hire others; you might be able to transform your business from a home business to a commercial business. But, it is still time for the HOME business to close.
5) You have a great offer from someone else to buy your business. This could be a great time to close the home business. You can hopefully make a profit, take some time off, and then, if you are bored, start a completely different business in your home.
6) You are unsatisfied with the business you have started. Instead of trying to add things on to it; sometimes it is best to just close that home business and start a new home business. Let’s face it – if your business started out as “Julie’s Dog Walking Service” does it really make sense to keep adding things until you have something like “Julie’s Dog Walking, Pet Sitting, Landscaping, and Personal Shopper Service”.
7) If your
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