| Starting a janitorial business in Ontario requires a few | | | | million for each occurrence, and $5,000 bond coverage. |
| different things that are extremely important in order to | | | | These limits can be increased at any time, and you |
| operate a successful business. This article will explain | | | | should have coverage according to the amount of |
| exactly what is required to start a janitorial business, | | | | properties, or employees you have. Call a few of your |
| and how to go about doing these things. | | | | local insurance brokers to get a few quotes on prices. |
| A) 1st step is to decide on whether you want to | | | | For new insurance policies the prices ranges between |
| operate your business under a sole proprietorship, | | | | $120 - $200 per month depending on where you obtain |
| partnership, or incorporation. There are advantages | | | | your insurance. This is a very crucial step in your |
| and disadvantages for all three of these. Operating | | | | business so do not overlook this. This can be the |
| under a sole proprietorship is the easiest to open, and | | | | difference in operating a long term successful business, |
| cost about $1,000 less. It costs around $70 dollars and | | | | or being shut down in the very near future. Most new |
| is most commonly known as a master business | | | | clients will request prove of insurance before they sign |
| license. You can register online, or visit your local | | | | any contracts with your company. |
| business registration office. Opening a partnership | | | | C) The next step is to obtain insurance from your local |
| requires 2 authorized owners. Both owners share all | | | | Workplace Safety & Insurance Board also known |
| profits, but are both liable for all the risks. Another | | | | as WSIB. You will need this insurance coverage if |
| disadvantage of owning a sole proprietorship or | | | | you're planning on hiring people to service your |
| partnership is that if someone sues your business, you | | | | accounts. It is against the laws in Ontario to employ |
| can be held liable personally. So in other words, if | | | | workers without WSIB coverage for employees. You |
| someone sues your business, and the business does | | | | will need to pay insurance premiums on your |
| not have any assets, your personal assets may be | | | | employee's behalf. This will protect you but more |
| seized to compensate for the lawsuit. | | | | importantly protect your employees in case they get |
| The only way to protect your-self from this is to open | | | | injured while on the job. If you decide to sub-contract |
| a corporation. It costs between $1,000 - $2,000. You | | | | your accounts to other cleaning sub-contractors, you |
| will also need to decide if you will be operating in your | | | | will need to make sure they carry insurance for their |
| province only, or operating nationally. You can open a | | | | people. You should keep copies of all this for future |
| corporation regionally, or nationally. You must decide | | | | records. You will also need to make sure that by |
| which is appropriate for your business. The | | | | sub-contracting your accounts, you do not breach any |
| advantages of opening a corporation are that you | | | | part of the contracts with your clients by |
| protect all personal assets from potential lawsuits. | | | | sub-contracting. Some clients will request a provision |
| Because a corporation is a separate entity, all owners, | | | | be put in the contract that stipulates you can under no |
| directors, and executives are protected from potentials | | | | circumstances sub-contract the service. Once you |
| actions against the company. Obviously the | | | | have completed this step, you are ready to move on |
| disadvantage is the cost involved in opening a | | | | to the next step. |
| corporation. But if you're serious about doing business, | | | | Once you have completed these steps you are now |
| this is what you should really consider. | | | | ready to start advertising your business. Check back |
| B) Once you have opened your business, you now will | | | | on our website on how to advertise your business. |
| need liability insurance to protect your company in | | | | Feel free to link back to our site for more information, |
| case of accidents, or theft at your client's properties. | | | | or content. Congratulations! You are now ready to |
| The most common limits of liability insurance are 2 | | | | start conducting business. |