Insurance:
- Product Liability: This is available for businesses that create and sell a particular product. It offers protection to the com pay if any issues arise at the product's fault. Although we are just a flower company, anything can happen so it is important to be protected. Along with this, our flower idea and our store name will be protected so that no one else can use it for their own.
- Personal/Business Liability: This liability protects the company from any lawsuits that may come about. It covers a portion of the money taken to give back to us.
- Vehicle: This protects the company from large mechanical costs from the cars being used to deliver the product. This covers everything from a simple fender bender to a completely ruined car.
Financial:
Start Up Costs
- Legal, Accounting, and Professional Services- $10,000
- Deposits for Utilities- $3,000
- Prepaid Insurance- $2,000
- Payroll Taxes- $200
- Travel- $5,000
- Furniture and Fixtures- $3,000
- Building Improvements-$50,000
- Starting Inventory- $10,000
- Advertising and Promotions- $5,000
- Licenses and Permits- $5,000
- Salary and Wages- $6,000
- Truck and Vehicle- $35,000
- Tools and Supplies- $18,000
- Machines and Equipment- $20,000
- Land and Building- $50,000
- Cash (Working Capital)- $110,000