Many new businesses fail for reasons other than inadequate financing or a poorly researched business plan. Stated simply, they fail because people with inadequate expertise try to start them. For example, running a repair shop for automobiles or computer equipment requires extensive training and experience. Without it, your customers will repeatedly bring these items back in for further repairs until properly fixed. Likewise, if you’ve never rented or leased sports equipment in the past, you should hesitate starting this type of venture as injuries are quite common and can prove highly problematic.
It’s also unwise to start a business just because you think you may enjoy running it – without hiring highly knowledgeable and experienced assistants to assist you. Furthermore, many new businesses never make it because the owners failed to carry adequate liability insurance coverage to protect them from future lawsuits.
Here are a few of the other types of businesses that should only be started by those with special training and experience. After all, it’s often not enough to simply hire assistants who are quite knowledgeable since small business owners often have to substitute in for many of their workers.
Potentially Dangerous Jobs Requiring Expert Management
Sports equipment lease/rental businesses. As briefly referenced above, you need to be very knowledgeable about many sports before ever trying to rent or lease skiing, wall-climbing, skating, surfing, jet-ski, and other sports equipment. In addition, as a quick review of annual slip-and-fall statistics reveals, products liability and personal injury cases are often filed after people rent equipment involved in accidents;
Childcare. While many people assume they know all that’s required to take care of kids, there are many health and safety standards that must be met in order to run a daycare business and similar operations. Also, you must carefully select and train all of your workers and regularly check their credentials against child predator records;
Any business involving the care or handling of exotics animals. This type of enterprise is often dangerous since such creatures are often prone to “act out” when frightened. If you insist on starting a small petting zoo or similar venture, make sure you hire experienced handlers and buy comprehensive liability insurance;
Any business where alcohol will be served and consumed on the premises. Not only must you be concerned with getting drunk or highly inebriated customers home safely, you must regularly interact with various government authorities and obtain different licenses. Furthermore, you must constantly check customer ID’s regarding their age, as well as make sure that all of your servers are old enough to be working in that capacity;
Selling various types of foods and beverages (regardless of whether a restaurant is involved). No matter how careful your workers may try to be each day, foods are likely to become periodically contaminated. Although some people can die from consuming unhealthy foods, it’s far more common for something like salmonella poisoning to create lengthy illnesses for consumers and lawsuits for business owners;
Trying to run construction projects or home-remodeling jobs. Apart from asbestos and other substances that have harmed workers over the years, personal injuries occur regularly in these settings, along with cost overruns and employee turnovers. You must also work hard to quickly become a safety expert to keep all of your workers as healthy as possible and on the job.
To obtain help with handling all of your Georgia business planning needs, please contact Shane Smith Law today. You can schedule your free initial consultation with a knowledgeable Peachtree City estate planning attorney by calling: (770) 487-8999.