Being successful at being a handyman is not as easy as some people think. However if this is a business that you would like to start and you think you could be successful at it the first thing you must figure out is if you have what it takes to do this.
Holiday periods. Do you close down for certain holidays? What extra risks does this expose your business to? Key factors could include the value of goods and equipment left unattended plus replacement costs. Location might also be a factor depending on whether you’re in a high-traffic zone or a quiet business park.
Protect your personal assets. If you don’t protect yourself, a creditor can go after your personal assets, such as your car and your house, to pay for any debt or liability you may occur in business. Get Business Insurance or form an LLC. You can also get a patent or trademark to protect your ideas.
Ask if they have commercial business insurance toronto. When limousine services charge $200 – $300 less than other providers for weddings, there is a good possibility they do not have Commercial Insurance. God forbid anything happens to you or your guests, for you will not be compensated for your injuries.
The average kitchen is 50 sq feet and can be polished by 2 men in about a day with a simple edge such as Eased or Straight polish. On the other hand the Ogee edge on that same kitchen will Small Business Insurance take a day to shape and days to polish. The Diamond Bits that are required to shape that edge are costly.
Analyze the loss exposure. How long can a business remain a viable entity in the economy without revenue? Will the business be able to reopen after being closed a day? How about a week? Will the business be able to remain closed for a month when physical repairs need to be made to the business to allow them to reopen? What happens to the employees; will they be resilient enough not to receive a paycheck for a week? How about a month if physical repairs need to be made to the business?
Some of your most vital staff need to know how to file claims for insurance, if necessary. CCTV cameras can be used to record any incidents in areas of high risk. With the necessary action plan, and in case of a mishap needing an insurance claim, you will be in readiness!
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