All Posts tagged business

Risks of Expanding Business into Propane Delivery

Risks of Expanding Business into Propane Delivery

If you’ve been considering diversifying your heat and oil business to include propane delivery services, this can be a profitable move. However, there are also many things to keep in mind before jumping into this new endeavor.

Financial Considerations

Going into the propane industry will require a large financial investment. It could put a significant financial strain on the rest of your business. Many of the upfront costs that you will need to consider include bobtails, storage families and tanks for your consumers.

If your business is in a strong position financially, then this move can make a lot of sense. For businesses that are already struggling, it can make their situation worse.

Safety Considerations

Because propane is a hazardous chemical, your employees will have to go through additional training in safe housing and delivering propane. Some of the hazards include:

  • Propane inhalation
  • Direct skin contact
  • Correct use of protective equipment
  • Environmental disasters

These risks will necessitate the addition of propane dealers insurance to your commercial policy. If there is a mishap, you want to ensure your business is protected.

Propane can appear to be a lucrative business, and it can be if you have the resources to get a new business off the ground. Understand the risks and be cautious as you enter into the industry.

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The Best Marketing Tool for Your Cannabis Business

The Best Marketing Tool for Your Cannabis Business

Cannabis is one of the most challenging sectors to the market. Cannabis companies have to come up with creative ways to let their potential customers know of their existence. One of those creative avenues that have shown good ROI is through sponsorships. 

How Sponsorships Work

Promoting your business through cannabis sponsorships will increase your visibility. Many events work hard to find sponsors and are going to be eager to work with you. The event coordinator will ask you to choose a sponsorship level. Keep in mind, each level will offer your business more exposure.  

Think about what type of exposure you would like to give your business. Consider having exposure in or on

  • the backs of t-shirts
  • banners around the event
  • programs and media advertising
  • announcements during the event
  • goodie bags, including providing your own swag for event participants

Choosing a Market

Not all events are going to be a good fit for your business. You also don’t want to sponsor an event that is out of the market. 

As a cannabis business, think about who your clients are, and where you see them spending their free time. It is at those types of events that you want to take your brand image to attract other people like them.

Being a part of an event can also be a rewarding experience as you get to meet new people who have a genuine interest in your business, and you get to give back to the community. 

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General Aviation Insurance

General Aviation Insurance

General liability is not legally required for non-commercial owners in the aviation business. However, the majority of accidents and crashes involve small aircraft and private owners. This often leaves passengers injured in a crash to pay for their own medical expenses afterward, a path that could lead to lawsuits. Why risk all of that when you can invest in general aviation insurance?

General Liability Insurance

General liability in the aviation industry can fall on the owners and pilots of aircrafts that get in a crash. General aviation liability insurance is designed to protect everyone involved, including the owners, pilots and passengers. It can cover property damage as well.

Customizable Options

Most insurance companies provide plenty of options for aviation coverage depending on your needs and uses. Whether you have charter or corporate planes, helicopters or experimental aircraft, you can find a policy that covers yourself and your property. You can also get coverage for financial institutions. Specialized insurance is available that covers specific parts of the aircraft, family travel and medical expenses.

Most other insurances don’t cover anything aviation-related, so you will need to look into policies specifically for aircraft. Take out insurance before you fly to give you the peace of mind that you are covered in case an accident occurs.

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What Employees Expect from a Benefits Plan

What Employees Expect from a Benefits Plan

If you’re like most business owners, you know that your company wouldn’t be what it is without your employees. However, telling your team that you appreciate them isn’t enough to foster good employee retention. The longer you can convince your employees to stay with the company, the better it is for your bottom line. The best way to do that is to offer a great benefits plan.

Why Benefits Plans Matter

When people look for jobs, they look for employers that will take care of them and help them thrive both in work and outside of the office. Offering benefits is a great way to show prospective employees that you value their efforts and want them to be invested in your company in the future. Those comprehensive employee benefit plans help your company stand out from others in the industry and may help you attract the top-tier talent you’re looking for.

What to Include in a Benefits Plan

Designing the perfect benefits plan for your employees largely depends on your budget and the size of your business. Ultimately, the more comprehensive you can make it, the more attractive it will be to your team. Whenever possible, try to include the following:

  • Health coverage
  • Dental coverage
  • Vision coverage
  • Retirement plan contributions
  • Paid vacations
  • Paid sick leave

The more you can offer employees, the more likely it is that they’ll stick around.

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Insurance Policies Your Business Needs

Insurance Policies Your Business Needs

It’s a given that your business should carry general liability insurance. This will protect you and your business against claims of bodily injury or property damage that result from your business operations. In addition to general liability, here are some situations where other insurance may be needed.

  1. You Engage in Operations With Another Business

When you hire a contractor to do work at your place of business, such as construction or repairs, when an accident occurs from the work they perform, your business could also be at risk. Carrying contingent liability insurance will protect you against any claims that result from injury or damage occurring as a result of another business associated with yours.

  1. You Have Employees

If you have even one employee, your business should carry workers’ compensation insurance. No matter how safe or simple the work your employees perform, accidents can happen. The worker’s compensation will cover any medical treatment or payouts for disability.

  1. You Manufacture Products for Consumer Purchase

You may think your product is safe, but you have no control over what consumers do with that product once it’s in their hands. Product liability insurance will protect you if your business finds itself named in a lawsuit due to damages incurred by a consumer.

Always talk to your insurance provider to make sure your business is covered in every conceivable way against liability.

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Protections for Your Retail Business

Protections for Your Retail Business

Running a retail shop can be a great way all to provide goods to the community while earning profits. As an owner or manager of a retail store, the possibilities of how you design your store and what you sell can be virtually endless. Regardless of the type of retail store you run, it is important that the proper foundation is put in place to minimize anything that can threaten your profits and the way your store is perceived by existing and potential customers. Taking the time to first focus on important matters such as retail business liability coverage and other pressing issues can be a great starting point for those interested in setting up shop.

Minimizing Risks

Trusting an expert in the industry such as Moody can make the startup process easier, quicker and more thorough. Because of the risks involved in running this type of business, it is wise to ensure that a plan is put in place to prevent these types of mishaps from happening. Some things to consider include the following:

  • Workers compensation
  • Liability for employee actions
  • Accountability for products being sold
  • Recovery from crime, natural disasters, cyber-attacks or equipment failure
  • Miscellaneous business interruption

Providing exceptional customer service, selling the most sought-after products and growing profits can become attainable goals when you know that these types of incidents won’t easily undo your efforts thanks to the proper safeguards for your retail shop.

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Websites Insurance Customers Want to See

Websites Insurance Customers Want to See
insurance websites

insurance websites

insurance websites

Every business has to provide their customers quality web-based information in order to meaningfully connect with them. This is especially true of insurance websites. Customers need to see at a glance the most important information and feel confident that it comes from a trustworthy, authoritative source. Providing clients and prospective clients with the online resources they want is simple though there are a few key points to keep in mind.

 

Focus on the Essentials

 

Customers visiting insurance websites are generally looking for three things:

 

  • Information about policies offered
  • Explanations of currently-held forms of coverage
  • Contact information for their agent or a 24-hour response line

 

These three elements should be given priority on insurance websites.

 

Inviting Further Contact

 

An insurance agency should be easy to contact; many agencies are served by 24 hour contact services that help customers handle claims at any time of day or night. Some websites include live chat boxes to help customers access necessary services. Basic contact information should also be included; make sure that customers can easily locate the general phone number of the agency as well as the mailing or street address where physical letters can be sent. The email address and phone number of each agent should also be included.

 

Creating insurance websites that are informative and user friendly requires insight and expertise. Experienced marketing agencies can create a website with detailed information that is easy to understand and relevant to the concerns of your customers.

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