[GracefullyCute]

I own a small house cleaning business. I do everything myself. I don't have any employees. I apparently hit the jackpot with my business packages and rates offered. I'm definitely not have trouble advertising. I can't take a break without clients and potential clients calling. I just started this venture this past December and I'm already to a point where everything is too much for me to handle by myself. I try to be a little assertive and spread out the booking. However, I'm trying not to be too domineering. I'm afraid I'm getting a little overwhelmed and I don't feel that I'm to a stable enough point to where I can hire employees. With today's economy, I'm afraid of not having enough clients "tomorrow".

Basically, my questions for now (because I have a million) is how can I secure myself and my business? What are my legal options? What are my financial options?This is the predicament I find myself in...

There is a leading real estate company in the area I live in (I live near a major University) and they own ALL of the condominiums and some rental housing units in this area. They just offered me a contract... lol... I know... OVERWHELMING! However, even though this is pretty much every small business owner's dream, everything is moving too fast. They want an answer before next week. My dilemma is the fact that I don't know the (legal) steps I would need to take. What does this mean insurance wise? What does this mean for my business type (right now, I'm sole proprietor)? And, also, I'm not sure how I can work this out financially. I don't have the readily available funds to start such a large campaign. All I have is their "promise" of a few clientele here and there for 10 months out of the year. I don't know the exact numbers (except for their two months they peak in cleaning demands... over 500/month... usually before the new school year starts). What are my financial options? Because I'm still young and just out of college myself, I'm still haunted my bad credit. And, also, because I'm located in the state of Alabama and I currently don't have any employees, I wasn't required to have a EIN at start up. How do I get an EIN? How will my personal credit effect my business? Will it limit my financial options? I'm at a loss. What are my options? I don't know what to do. And, the realty suggested a definite answer by the end of this week.:(


Flustered&Ruffled
GraceC

[Cleaningman23]

Hi,
I currently own a cleaning co. in Illinois. Now receiving a contract offer is definitely a good thing in this business. But it seems like you are small time at the moment and have no real legal actions protecting your business. The real estate co. is going to ask you for insurance and many other credentials . You have to Incorporate your business within your state(business name) . You will also have to get liability insurance for your co. and the company may also ask you for bonds. You will also have to call the I.R.S after your business is incorporated and request a EIN number...

Then you will be able to do some business

This all at least takes a month...

[GracefullyCute]

Thank you! :) I found your answer very informative. However, I'm already insured, and I'm working on becoming a LLC. I made a trip to my local chamber of commerce and they were really helpful. As for the bonds, my insurance agent said something about getting bonded per individual client. My insurance offers these types of bonds. But, I'm really happy you mentioned the EIN. The chamber of commerce advisor didn't really explain how I would go about getting one. Is there a special form I have to fill out and mail to the I.R.S. Someone had once said something about a Schedule C form. And, also, are there any other hoops I should know about:confused:? It just seems like every time I turn a corner, there's another flaming hoop... lol. I wish there was a one stop place to get a check list :rolleyes:. Thanks Cleaningman23.


A Bit More Relaxed:p,

GraceC