Thinking of starting my own HVAC business do I need to get bonded? If so how much would it cost?

If you're planning on starting your own business, this would be part of the research you should have already done. There's no way for anyone here to know the cost as there are too many variables.

Normally bonding is not something almost any busienss needs. You may bond your employees if they are handling your money, If you are going to handle the money of another business.

What you do need is liablity insurance, and if doing install, perhaps even product liablity coverage. If you have employees, workers comp coverage. Your work trucks will need to be changed over to business auto insurance.

Of course you will need your local and perhaps state license, if working with feon, the proper permits and liense for that.

Biggest factor, you need to have the money to operate at least 6 months making no profit at all. Most small business lose money for the first 1 to 2 years, so do you have money to live on while business is growing.

Have you done estimates of business and profit margins ?

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Originally Posted by Fr_Chuck

Normally bonding is not something almost any busienss needs. you may bond your employees if they are handling your money, If you are going to handle the money of another business.

What you do need is liablity insurance, and if doing install, perhaps even product liablity coverage. If you have employees, workers comp coverage. Your work trucks will need to be changed over to business auto insurance.

Of course you will need your local and perhaps state license, if working with feon, the proper permits and liense for that.

Biggest factor, you need to have the money to operate at least 6 months making no profit at all. Most small business lose money for the first 1 to 2 years, so do you have money to live on while business is growing.

Have you done estimates of business and profit margins ?

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No I have not done estimates! I will be getting laid off from were I work and been thinking of starting my own buiness!! I should get a chunk of change from were I work @ to help me get started.