Category: ‘Risk Management’

Risk Management and Auto Dealer Car Lot Cleaning – Case Study

January 28, 2012 Posted by admin

Every small business must worry about risk management, especially service companies. It hardly matters if you are running a landscaping company, a home inspection service, or even a mobile car wash business, there are always inherent hazards of the trade. It is imperative that you reduce these risks whenever you can. As long as we’re talking about the mobile car wash business, which is something I know intimately about, having been in that sector prior to retirement, let me give you a case study and example of how risk management changes the way you do business.

First, I’d like to explain that business insurance isn’t cheap in the service sector, and the insurance costs are based on your gross revenues and sales. As you make more money, and as you have more employees your revenue should go up, and so too will your insurance costs for general liability, because it is based on a percentage. (more…)

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Risk Management – Safety and Design Considered

November 8, 2011 Posted by admin

The procedures and processes in your business must be efficient, and you should have methods of operation which take into consideration risk management. When you are designing these processes safety is something which may not necessarily be a major consideration for you, but it definitely should be. There are all sorts of OSHA standards, and I don’t recommend that you break any – however, sometimes OSHA standards in certain circumstances can create unsafe situations.

The reality is that you need to keep your business model and processes within the boundaries of OSHA law to prevent lawsuits, and regulatory fines. Nevertheless, let me explain to you one case study and example, something in my own company prior to retirement which always bothered me. We used pressure washers and steam cleaners to clean fleets of vehicles under contract. (more…)

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Armed Robbery – Advice For Retails

October 28, 2011 Posted by admin

If you own and operate a retail business then you must regard yourself and your staff as a target. This is particularly the case if the business is open late at night and there is a high volume of cash transactions. This risk increases significantly if you sell high value jewelry, alcohol or tobacco, operate in high crime areas or have a small number of staff on duty at any one time.

Thankfully armed robbery is not an everyday occurrence but is is on the increase. As recession bites people are getting more desperate and can see no other option but theft. These type of criminals are classified as amateur but it does not make them any less dangerous. In fact the opposite is the case. Because they are nervous and in most cases full of alcohol or drugs they tend to be unpredictable, which is not a good thing. (more…)

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