Here are the first three people you need to seek out before starting your pool care business… Remember, seeking advice from professionals can provide you with critical information and increase your chances of success in your pool care business.
1. Accountant: An Accountant can offer valuable tax guidance and inform you of the financial matters of your business, including budgeting, tax planning, and revenue forecasting. They can help you understand the financial implications of starting a pool care business, assess capital requirements, and assist in setting up appropriate accounting systems. They can also advise you on pricing structures, cost management, and financial strategies to ensure profitability and long-term sustainability. Most importantly, you will need an accountant that you can meet with at least every quarter to review your current situation and provide tax planning tips throughout the year, so you aren’t shocked when the tax man comes knocking April 15th.
2. Attorney: Consulting with a legal advisor or attorney who specializes in business law can help you navigate the legal aspects of starting a pool care business. They can assist with entity formation, licensing and permits, contracts or agreements, liability issues, insurance requirements, and compliance with local, state, and federal regulations. A legal advisor can ensure that your business operates within the boundaries of the law and help protect your business interests.
3. Insurance Agent: An insurance agent specializing in commercial insurance can help you assess the risks associated with running a pool care business and recommend suitable insurance coverage. They can assist you with general liability insurance, workers’ compensation insurance, property insurance, and professional liability insurance. An insurance agent can help protect your business from unforeseen events, accidents, and potential legal claims.
Remember, these professionals can offer valuable guidance, but it is important to conduct your due diligence, ask relevant questions, and tailor their advice to your specific business needs and circumstances.
As a bonus – You could seek out a pool industry expert, like me. Consulting with a pool industry expert, such as a pool care professional, can provide you with a wealth of knowledge and practical advice. They can share their experiences, discuss industry trends, and provide guidance on best or worst practices for pool maintenance, repair, and customer service. A pool industry expert can help you understand the challenges, opportunities, and regulations specific to the pool care business.