Legal/Insurance Coverage before starting??
Hello everyone, I am new to the forums.
I've been working on starting my own cleaning business. I am taking my time doing this, writing my own personal detailed business plans and learning as much as I can before "opening up for business".
I am from New York. So I already figured I need Workers Comp, Disability Insurance on top of General Liability Insurance and Bonding.
My question is; do I get all of this before I start operating? My expenses monthly would roughly be around $400 monthly with all the coverage.
Does this mean I pay this monthly, while trying to build a profit, or do I build a profit first then get all the essentials?
I just feel like I am missing something here? Did you all start out paying for insurance, bonding, workers comp etc...while making no profit just to have a legit business?
Thanks for any insight/feedback