Wish Me Luck !

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One of the ironies of our litigious society is that liability coverage virtually guarantees you will be sued. Conversely, the lack of such coverage almost guarantees that you will not. Lawyers look for a deep pocket. If there isn't one they don't bother.

It's called making yourself "judgement proof".

Can't get blood from a stone.

Karl, you are probably correct about the insurance, except he will need a contractors license if he does the actual installation and that will require insurance to provide the bonding.

Paul

On Tue, 25 Nov 2008 16:10:44 -0500, the infamous Pete Snell scrawled the following:

The large award was remittitured by the judge and the actual settlement was stated to be enough to pay her hospital bills.

Any other person in the world would have immediately jumped out of the slow-moving car and flapped their clothing to cool off the liquid in about 30 seconds, never receiving more than a red patch of skin from the experience.

You don't know what you are talking about. Any time you are in business and are selling a product to the public you are obligated to make sure that product is not harmful to people. If it is and you sell it and it harms someone you are liable for their injuries. McDonalds had been warned over and over their coffee was too hot and many people had already been burned. McDonalds ignored the warnings and went on selling its coffee at a temp that was dangerous. The woman who sued got 3rd degree burns and spent three days in the hospital. I'd say that coffee was dangerously hot. So she was awarded the proceeds of a day's worth of coffee sales for the whole chain. For a company that big to be deterred from doing something the price to it has to be big. The lawsuit was not frivolous and the woman deserved what she got. But if you knew the facts you would know that.

Hawke

Easy for you to say. You aren't putting out a dime or risking anything. He's going to put in all his time and a lot of money. Odds are he'll lose it all. That's not being pessimistic that's just the reality of a new start up business. It's very risky. Most people that try it lose everything they put into it and they work for nothing. It's not for the faint hearted or the risk averse. Most people are much better off looking for a new job than risking everything they have on a business. It's sounds like a downer but that is the reality. Welcome to America.

Hawke

Get back to us in a year and let us know if you have shown a profit. I know the odds. You're taking a big risk, which you probably know. That's all I'm saying. You're talking about a one man business going up against established businesses and in a bad recession to boot. Like I said, good luck. You're going to need it. And if you do fail you won't be able to complain about it either since you just went and criticized others who whine about how bad things are. I've been in business. I know how hard it is. All I'm saying is that you are not going to have an easy time making a buck and you will most likely fail. Sorry, but that is the hard truth. Maybe you should thank me for telling you the truth but I know better than to expect that. The guys egging you on have nothing to lose. Maybe I should join them in encouraging you, jump, jump, jump. Like that better?

Hawke

Most people wouldn't have held an easily-distorted cup of hot coffee between their thighs to take the top off and add sugar in the first place.

Snag doesn't sound like "most people" to me. Many who fail have no previous experience, nevermind degrees in accounting and/or business, or even doing any homework. Hope is definitely not a strategy. It's clear to me that Snag understands that because he's reported some homework and quite likely done a lot more he hasn't reported.

You can't know what the odds are for his success without knowing a lot more details than have been presented. Percentage of failed ventures per year is a statistic that could be completely irrelevant here: it could just as well reflect percentage of attempts by people who skip due diligence and/or simply don't know enough about business to succeed.

months back.

buy a safe

dont! do alarm systems yourself unless you have been in the biz for a long time.

however you can take samples to local alarm companies with your business card and some photos and let them sub bars and such to you. stick with what you know. Same with safes

dont bother with the big national alarm companies. they sell packages.

Gunner

"They couldn't hit an elephant at this dist..." Maj. Gen. John Sedgewick, killed by a sniper in 1864 at the battle of Spotsylvania

to be able to

will he be selling the bars, or selling and installing?

there is far more liability as an installer/seller

"They couldn't hit an elephant at this dist..." Maj. Gen. John Sedgewick, killed by a sniper in 1864 at the battle of Spotsylvania

Hawky?

Cheers,

Schwiek (goodsoldierschweikatgmaildotcom)

Thank you !

Actually the facts are a little different. Try

Cheers,

Bruce (bruceinbangkokatgmaildotcom)

You just don't get it do ya ? The businesses that make it all did what I've done . They've researched their market , assessed the need for their product , and aimed at a price point that will make them competetive with the "big boys" in that market . THE RECESSION IS WHAT MAKES THIS VIABLE !!! Yer an idiot . Now sweep up that pile of chips ya just spilled . And go take a bath , phwew !

On Wed, 26 Nov 2008 19:06:27 +0700, the infamous Bruce in Bangkok scrawled the following:

Parakeet is a brainless, liberal, fidiot troll (is that redundant?) who doesn't deserve airtime, guys. Just hit Ignore next time. Don't take the bait...he's not worth it.

-- "Menja bé, caga fort!"

Good luck Terry! Keep us posted on the progress.

Thanks Iggy . I will update as things unfold - if only to thumb my nose at the naysayers .

Good luck!

Be careful about basing your business model solely on undercutting the competition in price-- try to find something else that you do better than them (delivery time, materials, design or something like that). Many buying decisions don't go to the low bidder and unless you've worked in their businesses you may be overestimating their costs (they've had a long time to figure out the best suppliers for everything) and new businessses sometimes have to deal with selective price cutting by the established competition-- they figure that all they need is to land a few good swats and you'll go away. You most definitely *will* underestimate your own costs unless you've run a very similar business yourself (signing checks and responsible for the rent and payroll running, not just doing the work). All sorts of things add up, and you're starting out with fewer clients to spread them over. Talk to other people doing similar things.

Once again, best of luck!

Best regards, Spehro Pefhany