As the owner of a small cleaning, maid, or janitorial services business, you are no stranger to cleaning up messes. Whether you employ a handful of professional cleaners or you are an independent cleaning contractor, it's your eye for detail that helps keep your clients happy and their spaces sparkling.
But even the keenest eye may not be able to spot all the potential liabilities that accompany commercial and domestic cleaning services. In fact, the unique nature of your work exposes you to many risks that could jeopardize your business assets and personal finances.
For example, what would happen if a client accused you of theft and sued for damages? What if someone slipped on a recently mopped floor and broke an ankle? That person could sue you or your client for medical expenses.
Or let's say you accidentally use a cleaner that damages your client's property. Would you have the means to cover replacement costs out of pocket? Even if you can't, the client might decide to sue you for those costs, which would put you even further in the hole after lawyers' fees.
Though you may believe the old adage "You can't bleed a rock," the courts find ways of squeezing out money. For instance, if you're found liable for property damage, a judgment lien can be placed on your real estate, vehicles, and other property. If you have an outstanding lien, it could attach to property you acquire later, too. (Read more about judgment liens in Nolo.com's "What Is a Judgment Lien?")
Though these scenarios may seem extreme, they are common in the world of building cleaning services. So the question remains: if you don't have deep pockets and certain risks are unavoidable, how can you survive these unexpected hits?
The solution is to manage your risks through appropriate planning and insurance. With the right strategies in place, you can keep your assets safe, even when the unthinkable happens.
This guide helps you navigate the world of risk management. From finding policies to preventing disasters, you'll find the information you need to start building your business protection plan. This includes…
- Understanding your janitorial or cleaning service's business risks.
- Understanding cleaning and janitorial insurance policies.
- Finding insurance for your business.
- Building a risk management plan for your business.
Ready to get started? Keep reading for more risk management tips for your cleaning business!
Next: Chapter 1: Understanding Your Janitorial or Cleaning Service's Business Risks
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