Starting a business is an exciting journey that begins with your passion and determination. It begins with identifying your passion and interests and conducting thorough market research.

Then, you’ll want to create a business plan and choose a legal structure for your business, such as a sole proprietorship, LLC, or corporation. This decision will impact taxes, liability, and more, so consult with a legal expert or accountant. There are many types of insurance one can sell! A good guide is all you need to get informed.

Next, you’ll need to secure the necessary permits and licenses and set up your business finances. Open a separate bank account, obtain any required business insurance, and set up an accounting system to track expenses and revenue.

What You Need To Start an Insurance Company

To start an insurance company, you need a robust combination of industry expertise, substantial capital, and a meticulous understanding of regulatory requirements. You can begin by immersing yourself in the insurance sector, acquiring knowledge about underwriting, risk assessment, and market dynamics. Also, securing substantial capital is crucial, as insurance companies require significant reserves to cover claims and meet regulatory mandates. Starting an insurance company is a complex endeavor, but with the right resources and knowledge, you can embark on this challenging but rewarding journey.

What it Takes To Start an Insurance Company

If you want to start your own insurance agency, here’s what it takes:

Maintain Extensive Industry Knowledge

Understanding insurance products, risk assessment, underwriting, and regulatory requirements is essential. Consider gaining experience by working in the insurance field or hiring experts who can guide you.

Create a Comprehensive Business Plan

This should outline your company’s mission, vision, and goals. You’ll also need financial projections, market analysis, and a detailed strategy for acquiring and retaining clients.

Secure Substantial Capital

Insurance companies require significant capital reserves to cover claims and comply with regulations. Be prepared to raise substantial funds through investors, loans, or personal savings.

Navigate the Complex Regulatory Landscape

Insurance is heavily regulated, and you’ll need to obtain licenses, meet solvency requirements, and comply with state and federal laws. Legal and compliance experts are invaluable here.

Build a Strong Team

Hire skilled professionals in underwriting, claims processing, marketing, and customer service. Your team’s expertise will be crucial to the company’s success. Also, you’ll want to establish a strong network of insurance agents and brokers to distribute your products. Building relationships in the industry is key to attracting business.

Invest in Technology

Develop or acquire robust software and data analytics tools to manage policies, claims, and customer information efficiently.

Get the Word Out

Marketing and branding is a vital aspect of any business venture. Develop a compelling brand identity and marketing strategy to stand out in a competitive market.

Starting an insurance company is a long-term commitment that demands not only financial resources but also dedication to compliance, industry expertise, and strategic planning. With the right approach and a willingness to navigate the complexities of the industry, you’ll be set up for success and able to create a successful insurance business.

This resurgence in thrift shopping is more than just a fashion statement; it represents a broader societal shift towards conscious consumerism and a desire to reduce environmental impact. In this essay, we will explore the factors contributing to the newfound popularity of thrift shopping across generations and how it has evolved into a mainstream shopping choice.

Insider Tips For Newbies to Master the Art of Thrift Shopping

Leave Your Intimidation at the Door

Embarking on the thrift shopping journey can be an exciting and adventurous choice, but for many, it can also be intimidating. The prospect of sifting through racks of pre-owned clothing, deciphering diverse styles, and navigating the labyrinthine aisles of thrift stores can be overwhelming, especially for those new to the experience. 

Some individuals may feel apprehensive about the uncertainty of finding fashionable items, while others worry about the stigma often associated with secondhand clothing. The fear of encountering the unfamiliar or making a fashion faux pas can create a barrier that prevents many from embracing thrift shopping. 

However, it’s essential to recognize that thrift shopping is a skill that can be honed over time, and with a little patience and guidance, those initial feelings of intimidation can give way to the thrill of uncovering hidden gems and contributing to a sustainable fashion ethos.

Be Patient and Open-Minded

Being patient and open-minded when embarking on your first thrift shopping adventure is essential for a successful and enjoyable experience. Thrift stores often house a wide array of items, from clothing to furniture and everything in between. This diversity can be both thrilling and overwhelming. Patience is your ally as you sift through the racks and shelves, searching for hidden gems amidst the eclectic mix of items. Be prepared to invest time in your quest, as the perfect find may not reveal itself immediately.

Moreover, an open-minded approach is crucial when thrift shopping. The beauty of secondhand stores lies in their unpredictability. You may stumble upon unique vintage pieces, quirky fashion finds, or unexpected treasures you never knew you needed. Keep an open mind about styles, colors, and even sizes; thrift stores often house items from various eras, and sizing standards have changed over time. By embracing the unexpected and being willing to explore different sections of the store, you open yourself up to the excitement of the thrift shopping experience, where serendipity often leads to the most rewarding discoveries. So, remember to take your time, stay open to possibilities, and relish the adventure of thrift shopping.

Try Everything On

You should definitely make a habit of physically trying on any of the clothes you’re considering buying from a thrift store. One of the most compelling reasons for doing so is the unpredictability of sizes in secondhand clothing. Sizes have evolved over the years, and what might be labeled as your usual size could fit differently in vintage or older pieces. Trying on items ensures a proper fit, helping you avoid disappointment and the hassle of returning or altering purchases later.

Additionally, thrift stores often carry unique and one-of-a-kind pieces, and trying them on allows you to assess their overall condition. You can inspect for any hidden flaws, stains, or issues that might not be apparent at first glance. This careful examination ensures that you’re satisfied with the item’s quality and condition before making a purchase.

Additionally, trying on clothes in a thrift store also lets you experiment with styles and combinations you might not have considered otherwise. The fitting room becomes your fashion playground, where you can mix and match pieces to create outfits that truly reflect your personal style. In the world of thrift shopping, trying on everything not only ensures that you’re making wise purchases but also adds an element of adventure and creativity to your shopping experience, making it all the more enjoyable.

Reselling Items that Are Valuable

Considering reselling valuable thrift store finds is a savvy and sustainable approach to thrift shopping. When you stumble upon unique or high-quality items at thrift stores, you not only have the opportunity to acquire something exceptional at a bargain but also to potentially turn it into a profitable venture. Reselling allows you to share your thrifted treasures with others who may appreciate them, all while recouping your initial investment and more.

Furthermore, reselling thrift store items contributes to a circular economy, extending the lifecycle of these pre-owned goods and diverting them from landfills. This practice aligns with the principles of sustainability and responsible consumption, as it reduces waste and promotes a more eco-friendly approach to fashion and consumerism.

In addition to the financial and environmental benefits, reselling thrifted items can be a fulfilling hobby or even a small business venture. It allows you to hone your knowledge of trends, styles, and market demand while fostering your entrepreneurial spirit. Modern reselling websites and apps such as eBay, Poshmark and Mercari make selling to a wide audience very easy and smooth.

So, when you come across valuable finds in thrift stores, don’t hesitate to consider reselling them; you may discover not only a hidden talent but also a way to make thrifting not only a passion but a profitable endeavor as well.

Take a Moment to Inspect Items Carefully

Inspecting items carefully at the thrift store is a vital step in the purchase process that can save you from making regrettable purchases. Secondhand items, whether clothing, electronics, or household goods, often come with their own unique history and wear and tear. By taking the time to scrutinize these items, you ensure that you’re getting the best value for your money.

When it comes to clothing, closely examine each piece for stains, tears, missing buttons, or broken zippers. These issues may not always be immediately visible, so a thorough inspection is essential to avoid any unpleasant surprises when you get home. 

For electronics and appliances, check for signs of damage, rust, or malfunction. Plug them in or test them whenever possible to ensure they work as expected. 

In the case of furniture or home decor items, assess their structural integrity and any potential flaws that may require repair.

This meticulous inspection process is not only a practical approach to thrift shopping but also a skill that can save you time, money, and the frustration of having to return or repair items later. 

In Conclusion

The journey from being a beginner to becoming an expert in thrift shopping is a rewarding and fulfilling endeavor. As with any skill, it takes time and practice to refine your thrift shopping abilities.

Over time, as you gain experience, you’ll develop an eye for unique finds, learn to recognize quality, and even explore the possibility of reselling valuable items. Thrift shopping transcends mere consumerism; it becomes a lifestyle choice that promotes sustainability, creativity, and the joy of discovery. So, embrace the adventure, stay patient, and enjoy the evolution from a novice to a seasoned thrift shopper, all while contributing to a more conscious and eco-friendly approach to fashion and consumption.

Expertise in Talent Sourcing

One of the primary advantages of partnering with an outside recruiter is their expertise in talent sourcing. These professionals are well-connected in their respective industries and have access to a vast network of potential candidates. They understand the intricacies of the job market, including the latest trends, skill sets in demand, and where to find the best talent.

By leveraging their network and industry knowledge, outside recruiters can quickly identify and engage with qualified candidates who may not be actively searching for new opportunities. This proactive approach can significantly shorten the time it takes to fill critical roles within your organization.

Time and Resource Efficiency

Hiring can be an incredibly resource-intensive process, consuming valuable time and energy that could be better spent on other strategic tasks. By enlisting the services of an outside recruiter, you can free up your internal HR team to focus on core responsibilities while the recruiter handles the time-consuming aspects of the hiring process.

Outside recruiters can efficiently handle tasks such as reviewing resumes, conducting initial interviews, and coordinating interview schedules. Their expertise allows them to identify suitable candidates more swiftly, reducing the burden on your internal team.

Objective Evaluation

Recruiting can sometimes be clouded by bias and subjectivity, especially when hiring managers are personally invested in the outcome. Outside recruiters bring an objective perspective to the process. They evaluate candidates based on their qualifications, experience, and fit for the role, rather than personal preferences or biases.

This objectivity can lead to more effective decision-making and help you avoid costly hiring mistakes. An outside recruiter is focused on finding the best candidate for your organization’s needs, which can lead to better long-term outcomes.

Market Insights

To stay competitive, companies need to stay up-to-date with industry trends and salary benchmarks. Outside recruiters are often privy to market insights that can help your organization make informed hiring decisions. They can provide valuable information about compensation packages, candidate expectations, and the current state of the job market.

This market intelligence can be invaluable in crafting competitive job offers that attract top talent and in positioning your organization as an employer of choice.

Customized Approach

Outside recruiters understand that one size does not fit all when it comes to hiring. They take the time to understand your organization’s unique culture, values, and specific hiring needs. This allows them to tailor their search and selection process to align with your company’s goals and objectives.

Conclusion

In a rapidly evolving job market, enlisting the services of an outside recruiter can be a strategic move to streamline your hiring processes. Their expertise, vast network, objectivity, and market insights can save your organization time and resources while increasing the likelihood of securing top-tier talent.

By partnering with an outside recruiter, you can take a proactive approach to talent acquisition, ensuring that your organization remains competitive and adaptable in an ever-changing business landscape. Ultimately, the investment in an outside recruiter can lead to more successful hires and contribute to the long-term success of your company.

Understanding Business Law: The Foundation

At its core, business law refers to the body of legal rules and regulations governing business establishment, operation, and termination. This includes a variety of legal disciplines such as contract law, intellectual property law, employment law, tax law, and more. These laws serve as the framework for businesses to operate ethically, sustainably, and profitably while adhering to societal and legal norms.

The Ins and Outs of Business Law: When Your Company Needs It

Navigating the labyrinth of business law can be daunting, but knowing when and how to utilize it is essential for safeguarding your company’s interests.

Business Formation and Structure 

When setting up a business, understanding the legal structures (such as sole proprietorship, partnership, corporation, LLC) and their implications is crucial. Different structures offer varying liability protection, tax benefits, and operational flexibility.

Contracts and Agreements 

Contracts are the backbone of business transactions. Whether it’s negotiating with suppliers, clients, or employees, having legally sound contracts in place can prevent disputes and protect your rights. Consult a business lawyer to draft, review, or modify contracts to ensure they align with your interests.

Intellectual Property Protection 

If your company creates original works, inventions, or brands, protecting your intellectual property is paramount. This involves understanding trademarks, copyrights, and patents to prevent others from using your creations without permission.

Employment Law 

As your company grows, hiring employees becomes inevitable. Navigating employment laws ensures fair treatment of your workforce, compliance with labor regulations, and protection against potential lawsuits.

Tax Compliance 

Tax laws can be complex and subject to frequent changes. Ensuring your business adheres to federal, state, and local tax regulations is essential to avoid penalties and legal issues.

Dispute Resolution

Despite your best efforts, business disputes can arise. Understanding alternative dispute resolution methods, such as mediation and arbitration, can help avoid lengthy and costly litigation.

Regulatory Compliance

Businesses must adhere to industry-specific regulations and standards. Failing to comply with these regulations can lead to fines, lawsuits, and damage to your company’s reputation.

What to Look Out for in Business Law

While business law provides a framework for conducting commercial activities, it’s essential to be aware of potential legal risks. Common legal risks impacting your business include contract disputes, intellectual property infringement, employment lawsuits, regulatory violations, and data breaches. Staying informed about these risks and proactively addressing them with legal counsel can mitigate potential harm.

Business law forms the backbone of any successful commercial venture. From its fundamental principles to its intricate applications, understanding the ins and outs of business law is crucial for safeguarding your company’s interests and ensuring its longevity. Whether starting a new business, expanding operations, or facing challenges, seeking legal guidance from experienced professionals can make all the difference.

Canada is a mosaic of numerous unique cultures, religions, & languages. In this country, everything is said to coexist harmoniously, thus making it a world-famous immigration destination. 

Over the past few years, Canada has been getting a lot of attention from Indian investors and entrepreneurs as well. It wouldn’t be wrong to say that apart from studies, Canada is also getting popular for lucrative businesses! 

So, if you are planning to start a business in Canada, there are a few factors that you need to consider. See, commencing a business requires significant expertise, effort, determination, perseverance, time, and commitment. 

Don’t worry; we have got you back! 

Today, we will discuss the list of businesses you can begin in Canada. But before we move on to that part, let us discuss some factors to consider before you prepare to launch your business in Canada. 

Here’s what you need to know! 

Considerations Before Establishing a New Enterprise In Canada

Canada is one of the most-loved countries that offer people excellent education and career options. No wonder Canadian immigration is on the rise! 

So, if you plan to start your business, here’s what you must consider! 

1. Financials 

Before settling in a foreign nation, being financially prepared for what’s coming up next is vital! 

Undoubtedly, Canada’s standard and cost of living are higher than in other countries. However, it depends upon which province you choose to stay in, Canada. 

But keeping everything aside, financial stability is necessary to begin a business in Canada. 

2. Big v/s Small Province 

Canada has both small and large provinces, just like India. Therefore, the next vital step is identifying the proper Canadian province for your business and investing in it. First, determine each region’s cost of living, business operation costs, etc. Then, compare and decide which province is best suited for your business. 

Well, in small provinces, the business-related costs are much lesser. Moreover, smaller provinces also provide additional incentives for new businesses, unlike big provinces. 

So, consider everything before deciding upon the province! 

3. Languages 

If you are from a Non-French or Non-English country, you must learn the language. For example, Canada has two major languages, i.e., English & French. 

So, as a business owner, you must know any of these two languages to deal with people and build a professional network. Thus, knowing either of the two languages will help you grow your business and incur profits! 

4. Cultures 

When it comes to business immigration, cultures play a significant role. 

Canada has diverse cultures, one of the main things that make the country an attractive destination to begin a business. In addition, people coming to Canada bring a tinge of their culture and share values. As a result, everyone tends to embrace and adapt to each other’s cultures. 

So, while starting your business in Canada, make sure you learn to embrace the Canadian culture and the new market trends to formulate an effective business strategy. 

5. Government Regulations 

Understanding the rules and regulations governing the province where you plan to begin your business is vital. But remember, it is always better to consult with experts in the field regarding legal matters. 

6. Business License 

New businesses must get a license before legally operating in Canada. Suppose a particular city or province in Canada doesn’t have a website of its own. In that case, it’s better to check with government agencies online to get all the information about the business license. 

Top Businesses To Begin In Canada

Canada offers tremendous opportunities for entrepreneurs looking to begin a business. Irrespective of your background, with the right vision & work ethic, you can definitely find a profitable business opportunity that aligns with the abovementioned factors. 

For now, let us look at the top business ideas to consider!

1. Payroll & Bookkeeping Business

Businesses in the outsourcing payroll & bookkeeping industry are increasingly popular. The industry’s recovery has surpassed the pre-pandemic levels, thanks to Canada’s stable economy, resulting in business creation and generating more outsourcing opportunities. 

With a remarkable 35% profit surge, this industry will grow in the near future as well. Moreover, businesses in this industry will continue to harness technology to deliver value-added services, thus leading to more and more profits. 

2. Hotel Business 

The hotel industry is also experiencing growth & evolution as more and more companies recognize the significance of providing quality lodging options to travelers. This industry has rebounded from the pandemic, and occupancy rates are also increasing. 

This growth is driven by a stable economic environment that encourages travel & tourism. In addition, with higher travel demand, hotel businesses will likely experience growth and generate revenue. 

If you plan to venture into hospitality, ensure you have a solid financial position. Moreover, you can expect foreign investment to help this industry recover and reach new heights in the coming years! 

3. Construction Business 

Canada’s construction industry is progressing steadily, thanks to the strong and increasing demand for housing and commercial and institutional buildings. The industry has been experiencing a major uptick as the revenue is said to grow at an annual rate of 2.9% by 2025. 

This growth is attributed to several factors like population growth, urbanization, government investments, etc. Furthermore, low-interest rates and a growing number of homebuyers are also driving the development of the construction industry in Canada. 

Basically, the industry’s profitability is quite impressive, thus, making it an appealing sector for investments and expansion opportunities. 

4. Automotive Business 

The Canadian automotive industry has been making steady progress and is progressing to become one of the best automobile manufacturing nations in the world. 

In addition, the industry has benefited from the trend toward hybrid & electric cars, with several significant automakers investing in developing & creating such vehicles in Canada.

Interestingly, the industry’s profitability has been robust, with automakers generating good profits in recent years. Moreover, this sector is also responsible for creating jobs and supporting Canada’s economy, thus making it a crucial manufacturing sector. 

5. Plastic Product Manufacturing Business 

Because of its versatile applications, Canada’s plastic product manufacturing sector has exhibited remarkable resilience in the face of fluctuating demand. In addition, its revenue has grown steadily over the past half-decade. 

Well, this industry owes its growth to the steady demand of the automotive and construction sectors. Customer expenditure on home improvements has also played a significant role in this! 

How To Start A Business In Canada? 

Below are the steps for beginning a business in Canada. Take a look! 

• Choose a business idea
• Create a business plan
• Select a name for your business
• Register business 
• Get license and permits 
• Open a business bank account
• If required, buy business insurance
• Have a strategic marketing plan  

Conclusion 

If you have been looking or waiting for an opportunity to start a business in Canada, the time is NOW! 

Canada is one of the most prosperous countries that offer people various educational and career opportunities. You can consider the above business ideas or look for other small business ideas. 

Just keep in mind the factors before beginning a business in Canada. After all, when the factors are in sync, businesses are bound to flourish!

There’s a lot of different coverages, confusing terms, and fine print conditions you have to sort through. This sometimes causes business owners to be underinsured, over pay for a policy, or completely go without insurance—and that’s a risk you shouldn’t take.

Today Insurance Canopy is breaking down the ins and outs of small business product liability insurance so you can be better informed about the coverage you need.

What Is Product Liability Insurance?

Product liability insurance is a type of coverage used to protect against claims of bodily injuries or property damage. This coverage is intended to help you lower or eliminate the cost of a claim in the event of an accident. It is also often required by manufacturing or retail contracts since product liability claims can get expensive.

When you place a product on the market, you run the risk of someone trying to sue you for an accident your product caused. Common product accidents we see are:

• Choking on small parts
• Allergic reactions to ingredients
• Cuts, bruises, or burns
• Illnesses from ingestion or exposure
• Damages to property (such as fire or water damage, stains, or broken household items)

Even if you test your products frequently, accidents can still happen. Oftentimes there can be defects or damages that occur during production or shipment, causing problems you are unaware of. 

Who Needs Product Insurance?

If you deal with a product at any stage of development or market placement, then you need product insurance. Just a single claim can name dozens of businesses responsible. This includes:

• Suppliers
• Manufacturers
• Importers
• Distributors
• Wholesalers
• Retailers
• Online Sellers
• Dropshippers

If you produced, supplied, transported, or sold a product that caused an injury, illness, property damage, or death, then your business played a role in putting the faulty product into the hands of the customer.

For those who handcraft their own products, you are seen as the “manufacturer” and can still be held liable. In fact, manufacturing defects are the leading cause of product accidents. If a supply or ingredient you use to make your product is recalled or deemed unusable, and you are not aware, you can still be held responsible for any accidents that occur.

Whether you physically make the product you sell or outsource the production, you are ultimately the owner of that product. It is your responsibility to ensure your product is safe for consumer use.

What Can Product Liability Coverage Protect Me From?

Product liability coverage may protect you from paying for costly claims on your own. Similar to how car or health insurance works, product liability insurance may help lower or eliminate the cost of medical bills, lawsuits, and even product recalls.

Your insurance may also help you with instances of warning or label errors. Failure to provide warnings or mislabeling can lead to unforeseen accidents you could later be held responsible for. 

Many insurance companies offer more than just product liability insurance to help you have better coverage for your business. It’s common to have more than one coverage on a policy plan. 

You’ll typically see the following types of additional coverages in conjunction with product liability insurance.

• General Liability Insurance: This coverage applies to third-party injuries or illnesses that occur because of your business operations, such as slip-and-fall accidents.
• Tools, Supplies, & Inventory Coverage: Also known as Inland Marine Insurance, this helps cover damages or theft to the items you use to run your business. This can include equipment you use to make your product, your supply of ingredients, the computer you store private company information on, and even your product during shipping. 
• Product Recall Coverage: If you have a product get recalled, this coverage may help you cover the cost to remove the product from the market. It does not cover the lost profits of the recalled product.
• Personal & Advertising Injury: In some instances, you may be sued for accidentally using a copyrighted image on your packaging. Or, you may use an advertising idea similar to a competitor who files a lawsuit. This coverage may help pay for those costs.
• Medical Expense Limit: This coverage helps to pay for the medical expenses of an injured or sick customer who’s ailments were caused by your product or business.
• Professional Liability Insurance: Also known as Errors & Omissions Coverage, this is designed to cover you for any professional advice or services you may offer with your product. 
• Cyber Liability Insurance: If you take online payments or electronically file private business and customer information, you are at risk of having this information stolen or ransomed. This coverage may help cover the cost to retrieve stolen data or funds.

How Do I Get Product Liability Insurance?

Getting product liability insurance is easier than you think! You can now apply for a quote and buy a policy directly from an agency online. It’s a far simpler and faster process than trying to go through your homeowner’s insurance or meet with an agent in person. Plus, it’s often cheaper!

You can apply for a free product insurance quote today with Insurance Canopy. Our online application only takes a few minutes to fill out, and one of our agents will be in touch with your quote within one business day.

Don’t Risk It!

As a small business owner, you’ve taken a lot of risks to design your own product or build a business from the ground up. One of those risks should never be forgoing insurance protection. Your business deserves quality coverage tailored to you. 
Take risk management into your own hands by applying for product liability insurance today!

A recent survey shows that 3 in 4 small businesses faced an insurable event in 2020, meaning the time to prepare for an unexpected event is now. One of the best ways to do that is by getting an insurance policy.

You can insure your business the same way you insure your home, your car, and your health. Liability insurance allows you to transfer the cost of covered risks onto an insurance carrier. If you have a claim, this could mean less money out of your pocket and less stress on your business.

Now there are thousands of different insurance policies out there, the same way there’s thousands of different small businesses. We’ve narrowed down a list of the most popular insurance policies on the market right now to help you be more proactive in protecting your business. 

1. Product Liability Insurance

Average Cost: $1,400 (get a free price quote here)

Product liability insurance is designed to protect your products and businesses that handle the production, shipment, and sale of products. These plans offer financial support to pay for claims of bodily injury, property damage, illness, or death. Without insurance, you could pay thousands in legal fees, repairs, or medical bills. You may also have to halt business or recall products while handling a claim. 

Insurance Canopy understands each business has unique insurance needs—that’s why they offer customizable product liability insurance for an affordable price. Having the right insurance for your business helps you prepare for unexpected claims, handle recalls, and place your product in stores or online marketplaces. That’s the kind of peace of mind you can’t put a price tag on!

Button: Get A Product Liability Insurance Quote

2. Personal Trainer Insurance

Cost: $129/year ($12.50/month)

Having personal trainer insurance can make handling accidents and claims easier. It helps trainers pay for claims of injuries, illnesses, or damages that can happen during a session or as a result of your services. It can also help you train at multiple gym locations, give nutrition or dietary advice, offer online sessions, or work with clients outside of the typical gym setting.

Thousands of trainers trust Insurance Canopy to protect themselves and their fitness businesses. Their policies include general and professional liability insurance, plus the option to customize your coverage and add on a variety of different optional policies.

Button: Get Personal Trainer Insurance Today

3. Food Liability Insurance

Cost: $299/year

As a food industry business, you run the risk of making a customer sick from your food, damaging a rented kitchen, or having your equipment damaged or stolen. If you try to operate without food liability insurance, you could be facing thousands of dollars in medical bills, repair costs, and legal fees. You could also be blocked from selling your food at certain locations or events.

The Food Liability Insurance Program (FLIP) provides liability coverage for food businesses—such as farmer’s market vendors, bakers, caterers, food truck owners, chefs, and concession vendors. Your business is your livelihood and your passion, and FLIP understands that needs to be protected with the best coverage available. With general, professional, and product liability insurance included in one plan, FLIP offers all the coverage you need in one place. 

Button: Get Food Liability Insurance Today

4. Dog Walker Insurance

Cost: $139/year

People love their pets and often treat them like family, making them a valuable commodity to protect. A responsible dog walking business understands this and prepares for the unexpected with a dog walking insurance policy. If you’re not insured and a pet in your care, custody, or control is hit by a car, becomes sick, or sustains another injury, you’ll be glad you had insurance to cover medical bills, legal fees, and any other financial expenses that may arise.

Pet Care Insurance stands out as a top choice for dog walkers. PCI offers insurance coverage to dog walkers without requiring you to join an association. Policies include general liability insurance, business personal property coverage, veterinarian expense reimbursement, and animal bailee all in one convenient plan.

Button: Get Dog Walker Insurance Today

5. Yoga Teacher Insurance

Cost: $129/year ($12.50/month)

Yoga teacher liability insurance can help you cover claims related to student injuries, studio damages, and stolen yoga gear. You never know when something could go wrong and you could be responsible for paying hundreds or thousands of dollars in expenses on your own. 

Insurance Canopy provides coverage for general liability, professional liability, gear and equipment, and more. Policies meet most studio insurance requirements and even allow you to teach online, from your home, at events, in spas, or take your teaching on the road.

Button: Get Yoga Teacher Insurance Today

6. Photographer Insurance

Cost: $129/year

Protecting your photography business is essential—whether you shoot on location or in your own studio. Photographers inherit many risks as part of their day-to-day business operations, such as injured clients or stolen camera equipment. Without photography liability insurance, you and your small business could owe thousands of dollars in legal fees, medical bills, and other out of pocket expenses.

Voted “Best Camera Insurance” by Shotkit, Full Frame Insurance policies for photographers are flexible, affordable, mobile, and robust enough to cover most general liability claims. Full Frame specializes in small business insurance, designing comprehensive coverage options for both photographers and videographers.

Button: Get Photographer Insurance Today

7. DJ Insurance

Cost: $192/year ($16/month)

As a DJ, you face some unique liability risks when it comes to booking gigs, setting up shows, transporting equipment, using fog machines, or renting speakers. If your business causes injuries, illnesses, or damages, or someone steals or damages your equipment, you could be facing some expensive out-of-pocket claims.

With DJ insurance from Insurance Canopy, you’ll have coverage for general and professional liability, as well as coverage for damage to premises rented to you. DJ insurance helps to provide financial protection for you and your business—including the cost of bodily injury, property damage, or loss of personal property. 

Button: Get DJ Insurance Today

8. Liquor Liability Insurance

Costs vary by state (get a free quote here)

Liquor liability insurance, also known as dram shop insurance, is designed to protect alcohol-serving businesses from the risks of selling, serving, and furnishing alcohol. If your business—or someone you served alcohol to—is involved in an incident, you could be liable to pay thousands of dollars or more in fees, bills, and other expenses. Liquor-related claims tend to be costly, especially in cases involving death or serious injury. 

That’s where liquor liability insurance comes in. Insurance Canopy can help you cover part or all of out-of-pocket costs that could otherwise financially devastate your business. With general and liquor liability insurance included, Insurance Canopy creates a financial safety net to protect your business— giving you the peace of mind that comes from having the protection you need.

Button: Get A Liquor Liability Insurance Quote

9. Massage Therapy Insurance

Cost: $96/year

Massage therapy insurance can help you cover the cost of common liability claims—such as bodily injury, property damage, allergic reactions to oils, and more. As a licensed massage therapist, you don’t plan on accidents happening. However, you face risks each day while working. 

Beauty & Bodywork Insurance knows the value of protecting your practice from loss. Their policies provide professional and general liability coverage for both professionals and students. Unlike association-based insurance programs, there are no membership fees or coursework qualifications with BBI.

Button: Get Massage Therapy Insurance Today

10. Tutor Insurance

Cost: $99/year

Tutors face a unique set of risks. As such, you need a unique combination of insurance policies to cover your business. Tutor insurance is designed to help lower or eliminate the cost of claims so you can continue running your business with peace of mind. A single claim could cost your tutoring business thousands of dollars in out-of-pocket expenses—as well as damage your reputation as a tutor.

With general and professional liability coverage, Insurance Canopy offers a tutor insurance plan that covers the majority of risks a tutor may face. If you teach lessons in a rented space, or run your business at several different locations, their plans allow you to add an unlimited number of additional insureds for a small yearly fee. Now you can grow your tutoring business and help students get the assistance they need.

Button: Get Tutor Insurance Today

11. Fitness Instructor Insurance

Cost: $129/year ($12.50/month)

Fitness instructor insurance is designed to help independent fitness instructors and fitness business owners cover the cost of claims for incidents such as client injuries, stolen equipment, and damaged property. Insurance can help you keep your business running smoothly and save you thousands of out-of-pocket expenses. In the case of a lawsuit, fitness instructor insurance may help you cover the costs whereas a client waiver cannot.

With Insurance Canopy, fitness instructors can access top-rated coverage tailored to their needs. From private trainers to group teachers and even online instructors, you can get a plan that is made for your industry, fulfills facility insurance requirements, and helps protect you from costly claims.

Button: Get Fitness Instructor Insurance Today

Using a contract management system, you can ensure that you get the most out of your contracts as you engage with your employees, vendors, and other businesses.

How effectively a business manages its contracts play a significant role in the overall success of your organization. Any mismanagement of contracts on your part can lead to more extensive public service failures, something that you want to avoid.

In this post, we’ll walk you through some helpful tips on how to decrease risk and enhance the value of your contracts through a successful contract management implementation:

1. Choose the Best Contract Manager

A great contract manager should have the necessary certification and experience. Furthermore, they should also know specific aspects of contract laws. In the same way, they should have excellent communication and writing skills.

A manager with excellent communication skills is advantageous, especially if they frequently talk to and interact with your partners.

2. Think About and Analyze Relationships and Contract Duration

As you know, building strong relationships is key to every successful business. That’s why you need to have a contract and a relationship with your supplier.

Before a contract is in place, you need to make specific arrangements that will define how every party will agree to how the relationship will work in practice with the contract.

Keep in mind that both parties should be committed to each other and should work to promote each other’s best interests.

While focusing on relationships is a crucial factor, you also need to consider how long you want the contract to last in the contract process. It can be influenced by many aspects, such as conditions within the market, how easy it is to switch to suppliers, and how much leverage you’ll have over suppliers.

3. Keep Tabs on What Both Parties Have Agreed

Your basis for a tremendous managerial performance isn’t just signing the contract but also doing regular follow-ups on the conduct of your employees. By doing so, you are sticking with the established contractual obligations. At the same time, you’re securing the interest of your organization.

As much as you can, schedule a monthly meet-up with your recruited staff, provide a checklist of elements that aren’t going as expected, and ways to solve these issues. The sooner that you can fix them, the better.

4. Give Contract Management the Priority It Deserves

Don’t think of contract management as something like a last-minute add-on. Ideally, it would help if you integrated it right from the beginning of the procurement. That’s why getting proper Enterprise Legal Management software that minimizes risk and drives process efficiency is essential. 

Make sure that you have appropriate, adequately found resources. These should be secured and involved right from the start of the process as much as possible. Detailed planning is also essential to ensure the continuity of involvement.

There should be an efficient handover strategy if a vital individual in your organization suddenly decides to leave. It should be supported by developing a detailed knowledge base throughout the contract’s development and adaptation beyond its signing.

5. Make Sure To Use The Correct Tools, Processes, And

Provisions

It’s also crucial that you use the right processes, tools, and provisions.

Aside from that, the scope of the project and the complexity of your deliverables should be appropriate to the level of contract management that’s provided.

Also, if a specific task area will need more in-depth attention, it could be outsourced. It’s also great to get legal and procurement advisors to monitor how well the contract is monitored and put things in place if something drifts away from the agreement initially outlined.

6. Organizing your Exit and Managing Contract Expiration

In the same way, arranging how you’ll be exiting the contract is also essential before signing the contract itself. That’s because you’ll never know what’s going to happen. Even if you have a great relationship with a supplier, it’s still good to know that you can exit the contract if ever there’s a need.

Don’t wait for the contract expiry to creep into you. That’s because it limits your options when renegotiating a new contract. Put a system where you can flag the contract expiration. It will give you enough time to ensure that you can make appropriate arrangements.

7. Celebrate Milestones Along The Way To Keep Everyone Motivated

It would be best if you also celebrated important milestones as this is a way to keep everyone motivated. It can be handing out bonuses and incentives whenever specific milestones are met.

It also motivates employees and allows them to reach their goals. Celebrating milestones along the way, no matter how big or small, will keep everyone motivated to work hard, and e

eventually reach their goals.

Wrapping It Up

So there you have it. These are some practical tips for a successful contract management system. By applying these contract management best practices, you can enhance your business process and contract workflow.

It would also help if you also kept an eye out for possible red flags and potential problems. That way, these issues can be addressed early. You can avoid things going off the rails by spotting these early red flags. You can do this with your performance indicators.

By doing so, you can regularly measure these indications to your expectations. Hopefully, you’ll apply these tips to your organization as well. Good luck!

If you’re a startup founder, to avoid wasting money you know how important it is to find the right promos. Not only that, when you’re starting out, the budget is tight. And with so many options out there, it can be tough to know where to start – and even tougher to find the right deals and discounts. 

When you’re starting a business, it’s important to be as frugal as possible. And, this means that every penny needs to be accounted for, and that includes the money in your department.

There are a few other reasons why it’s important to save money in your department. 

First of all, it allows you to be more flexible with your budget. If you know that you have a cushion of money saved up, you can be more aggressive with your marketing and business development efforts.

Second, finding promos demonstrates to your investors that you’re taking your startup business seriously. So, saving on expenses is a sign that you’re making smart decisions with your limited resources. This can help to build trust with your investors, and it may even lead to more funding down the road.

Finally, saving money within your department can help to keep your business afloat during tough times. When expenses start to add up, it’s helpful to know that you have a reserve of cash that you can fall back on.

That’s where this article comes in. We’ve put together a list of some of the world’s leading SaaS software providers to bring exclusive deals, discounts, and perks to the startup community.

16 Companies That Save Your Startup Money By Department

Whether you’re looking for the best project management software or the perfect CRM solution, we’ve got you covered.  

Those looking for ways to save money in your business can start by breaking down their departmental budgets. There are likely a few areas where you can make cuts without harming your business’ long-term prospects. And who knows? You may even find that you can reinvest some of those savings back into your business.

Human Resources

Any startup knows that communication is key to success. After all, you need to be able to coordinate and collaborate with your team to get things done.

However, finding the right communication tool can be a challenge. That’s where Slack comes in.

Slack is a powerful communication platform that helps you manage human resources and multiple projects, easily collaborate with other companies, and build workflows to automate tasks like welcoming new members, creating reminders, and sharing updates.

Plus, you can share files and documents quickly and efficiently – making it a valuable tool for any startup.

And right now, startups can get a 25% off promo when they purchase or upgrade a plan – so there’s never been a better time to try Slack!

Read more: Starting a business? 5 Tips for Investing In Hiring Early On

Marketing

For any startup, sales and marketing are vital for growth. However, juggling all the different aspects of sales and marketing can be challenging, from email to social media advertising.

Sendinblue centralizes all your sales and marketing activity in one place so that you can boost your sales more efficiently. With this promo, startups can save 75% off the annual Premium Plan, you can save up to $1500.

Sendinblue is a great way to segment your campaign audiences and customize your campaigns. Automate campaign customization and segmentation to save time and access real-time reports.

With Sendinblue, you can send email or SMS campaigns, create A/B tests, and build customer loyalty. Discuss your services or products with your customers in real-time to meet all their needs.

Cloud Services & IT

It’s easy to purchase computing power that you might need in the future; however, the costs can add up faster than you could imagine. And that almost certainly means less money to reinvest in other things at the end of the month. It’s for that reason successful startups need reliable technology, at a good price, to help them grow.

Microsoft

One way startups can save money on their cloud/IT expenses is through the Microsoft Startups program, which gives startups access to Microsoft’s latest technology and support.

With this deal, Microsoft for Startups is a program that gives away up to $120,000 in Azure Cloud credits. And because Microsoft is constantly innovating, you’ll have access to the latest products and features to help you scale your startup.

You will get unlimited access to Visual Studio Enterprise Cloud, Dynamics 365 for Sales (CRM) & Dynamics 365 for Talent, GitHub Enterprise, and Office 365 Business Premium.

What’s more? This program will give you Visibility and marketing via events, press relations, interviews, and social networks.

So if you’re looking for a boost, be sure to check out Microsoft for Startups.

Amazon AWS

AWS, or Amazon Web Services, is a cloud computing platform that offers a wide range of services to businesses. These services include storage, compute power, database services, and more. AWS can be used by businesses in a variety of ways, including Storing data, Hosting websites, processing big data, and enhancing business continuity.

Using a cloud services provider like Amazon AWS can be a good idea to save money on cloud services as you will have the opportunity to start slow, and then as your business grows, you can increase computing power.

One of the programs that AWS offers is AWS Activate. It’s a program that allows startups to access thousands of dollars of credits on the Amazon AWS platform to use toward hosting. And this means more money to use in other places of your business. 

Use this link to get $5,000 in AWS credits for your startup business.

Productivity & Project Management

One of the most important aspects of any business is staying organized and communicating effectively.

This way, you can better manage your projects from start to finish and track data about them and other critical metrics like deadlines or cost cuts!

These tools are explicitly designed for startups who need an efficient yet straightforward approach when it comes down to making decisions on what needs to be done next based on all available information.

Miro

A startup in its early stages is typically characterized by high uncertainty and risk. However, the success of a startup depends heavily on the ability of its team to manage projects effectively and be productive.

Unfortunately, many startups fail due to poor project management and productivity. That’s where Miro comes in. Miro is an online collaborative whiteboard that offers startups dozens of board templates to help you hit the ground running and work more efficiently. 

Miro as a SaaS helps startups work more efficiently by providing a platform for collaboration and project management. With Miro, you can access hundreds of applications, embed videos and images, chat with teammates, and share information and data.

You can also use the robust API for specific needs. What’s more, Miro offers $1000 in promo credits for the Team plan.

So if you’re looking for a way to improve your startup’s project management and productivity, Miro is the perfect solution.

Notion

In a startup, it’s essential to efficiently manage projects and collaborate with other team members to follow the real-time progress of any project.

The notion can help with that by providing $1000 credits on the team’s plan (lifetime validity), which gives access to all of the following features:

• Project management: Create Kanban boards, assign activities, establish alerts, and keep track of your projects’ progress.
• Note-taking and documents: This handy app is simple: taking notes and grouping them. You’ll never have to worry about losing critical paperwork again.
• Templates: Hundreds of templates created by expert users are available to assist you.
• Knowledge base: Saves time and simplifies the onboarding of new employees, collecting information in one place.

Having all this information in one place will help the team centralize their work, collaborate efficiently, ensure the appropriate follow-up on projects, and enhance overall productivity and efficiency.

And what’s best is that Notion will help you get $1000 credits on your Team’s Plan.

Sales

For startups, sales are everything. They’re the lifeblood of the business, and without them, the company will quickly die.

That’s why it’s so important to have a good sales team in place and use the right tools to manage leads and customers. 

The features of Pipedrive include managing prospects efficiently, tracking teams’ communications, and insights and reports. 

Pipedrive is a great software option for startups, and it offers startups a 30% discount for 12 months. That means you can save up to $4000 on your subscription. 

With these powerful tools, you’ll be able to close more deals and grow your business. 

Design

Design is essential for any startup because it helps create a visual identity that can be used across all social media platforms and marketing materials. It helps to communicate who you are, what you do, and what you’re about.

That’s why it’s so important to invest in quality design, where Canva comes in. With a 20% off promo on their annual Pro plan, you can save up to $299 and access thousands of templates, graphics, and fonts to help you create professional designs that match your visual identity.

Canva is the best online design website that offers a wide range of templates and features, including animation, that can help bring your social media posts to life.

With Canva, you can collaborate with different teams on different projects, making it easy to get everyone on the same page.

The templates make it easy to create consistent designs, even if you don’t have a lot of design experience. So if you’re looking for an easy way to create professional-looking social media posts and marketing materials, Canva is a great option.

CRM

Any startup will tell you that customer relationships are essential for success. After all, without customers, there would be no business.

That’s why it’s so important to nurture these relationships and build them into something solid and lasting. And that’s where Intercom comes in. Intercom is the leading customer relationship management software, and it’s designed specifically for startups.

With Intercom, you can easily collaborate with your team, set up chatbots to deliver automated answers quickly, chat with customers in real-time, access data to personalize customer conversations, and onboard new customers quickly.

Plus, Intercom is offering promos for startups like you, free access for 12 months for a limited time – that’s a savings of up to $804!

So if you’re serious about building strong customer relationships, you need to check out Intercom.

No-code

No-code platforms like Typeform have made it possible for anyone to create excellent forms, quizzes, and surveys without a single line of code.

Thanks to its modern design and powerful features, Typeform is perfect for startups that need to collect data efficiently.

With branching logic, Typeform can tailor the experience for each user, and with pre-built forms and quizzes, it’s easy to get started.

And with integrations with apps like HubSpot, the Google Suite, and Slack, Typeform makes it easy to get the data you need. The best part is that Typeform offers 15%-35% off their essential and professional plans.

So if you’re looking for a powerful yet easy-to-use no-code platform for your startup, look no further than Typeform.

Client Management

As a startup, it’s essential to have a client management system to offer unique and personalized experiences to your leads and customers.

Freshworks provides a software suite that helps sales, marketing, and customer service teams work on the same data to provide personalized interactions.

Additionally, Freshworks offers $10,000 in credits across their products, which can help Startups manage their clients more effectively.

By utilizing Freshworks’ products and services, startups can improve ticket management, analytics, and reporting – leading to happier customers and more success for the business. Freshworks’ products will give you the tools to get started on the right foot.

Accounting

Bookkeeping and accounting are critical for any business. By keeping track of all the money coming in and going out, you can make informed decisions about allocating your resources. This is where QuickBooks can help.

QuickBooks is a bookkeeping and accounting solution that makes it easy for startups to keep track of their finances. With QuickBooks, you can create invoices, track expenses, and more.

Whether you’re a small business owner or a large corporation, Quickbooks, with features like expense tracking, cash flow analysis, and bill management, can help you streamline your accounting and improve your bottom line.

And right now, you can get 40% off for six months. So don’t wait – sign up today and take control of your financial future.

Banking & Payments

In today’s business world, startups need to be able to accept payments in a variety of ways to succeed. A good payment solution is essential for any startup looking to expand.

Stripe is an excellent option for startups as it offers a variety of features that can help businesses grow. For example, Stripe allows companies to accept all major credit cards and other popular payment methods such as e-wallets and transfers.

In addition, Stripe’s subscription management system makes it easy to accept recurring payments, which can be a great source of revenue for startups.

Finally, all payments made through Stripe are secure, thanks to the company’s anti-fraud system and 3D Secure technology. What’s more? Stripe helps startups with tens of thousands of dollars in transactions without fees.

Legal

Creating a legal entity for your startup can be daunting and expensive. But with Stripe Atlas, you can get everything set up in just a few minutes.

Stripe Atlas will help you choose the correct legal entity for your business and take care of all the paperwork. Plus, they offer 50% off on their services so that you can save up to $250. And if you need to issue stocks to founders, Stripe Atlas can help you do that legally.

After creating your account, you can use Stripe’s tools to manage and accept payments, generate invoices, and access detailed financial reports.

So if you’re looking for a hassle-free way to create a legal entity for your startup, look no further than Stripe Atlas.

E-commerce

The importance of a reliable and easy-to-use online store setup platform cannot be overstated for an e-commerce company.

A platform like Shopify ecommerce development will allow you to quickly create or migrate your optimized online store, benefiting from the tools you need to attract customers and boost your sales.

With Shopify, you can customize title or description tags to optimize your SEO, email campaigns, and social media advertising from the platform. Don’t miss out on this essential tool for your e-commerce business. Take advantage of 2 months free to save up to $598.

Read more: 10 Steps to Start an Online Business

365 Bonus Tip The Boardroom app also lets you easily connect data & visualize your whole business in one dashboard from your Shopify website

Final Thoughts

Saving money is essential for any business, but it’s especially important for startups. By saving money on products and services like Freshworks, QuickBooks, Stripe, and Shopify, you can free up resources to help your business grow.  So don’t wait – start saving today!

This article originally appeared on RickOrford.com and was republished with permission.

About the Author: Eric Williams

Eric is a staff writer with RickOrford.com, specializing in lifestyle and finance topics. Eric offers a creative flair that reflects in his work. When not thinking about personal finance, Eric loves to cook, travel, and spend time with his growing family.

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Look over these tips on how your small business can have a successful holiday season and gain some perspective on your options. A little research is all it takes to feel merry and bright in no time.

Hold an End-of-Year Sale

Plenty of companies use the year’s end as a way of giving one final push toward their sales goals. The best way of achieving this is with a sale. Of course, you will be dealing with plenty of other companies doing the exact same thing. Try to come at your promotion from a unique angle and offer a discount that does a bit more than entice. In this arrangement, you will find that aiming for volume of sales is far more rewarding than being selecting and pushing for high-cost sales. 

Send Out Cards

For generations, one of the easiest ways business owners have been able to connect with clients at the end of the year is by mailing out notes. Business Christmas cardsare a tradition that consumers love, as it is a sweet gesture that allows the owner of the company a chance to show sincere gratitude to those who have aided in the brand’s success. All you have to do is pick out a card design that you love, write a simple message, and get the cards in the mail as soon as possible.

Start Your Promotions Early

Starting the promotional journey as soon as you can is important for a number of reasons. Companies tend to start planning their marketing strategies for the holiday season well in advance. To stand up to the competition in a real way, you will need to make sure you have a good idea of what your promotional plan will be by the beginning of the fall at the latest. With cards, be sure to wait until right after Thanksgiving to get them in the mail. The sooner the better, but before Thanksgiving can seem like rushing things to most consumers. 

Give Back

Another wonderful way to help your company during the holidays is by helping others. Donating to a charity or taking part in good deeds can help improve the public image of your business and make you feel good about how you’re assisting others in your community.

From mailing out business Christmas cards to helping the less fortunate, there are some great options available to you when it comes to ending the year on a high note. Look at the variety of cards available at Cards for Causes when you’re ready to pick your design, and see how easy it is to get the ball rolling on a classic holiday gesture.