How do you handle traffic spikes, especially from the networking point of view? What kind of connection do you have? How do you make your service as fast for all customers around the world (saying you have a succesful Saas). How do you prevent a local blackout from taking down your service? Where do you store your backups, in case your building gets flooded or your machine blows up? What would you do in case a malicious process takes over the machine? These are some things that are managed in a cloud environment.
I understand investing in a datacenter rack where you own your hardware, if you have the skills, but running it in a home office cannot support a successful business nowadays IMO.