What does it mean to be licensed, bonded, and insured?
Licensing: A possible requirement Bonding: Protects the customer against theft Liability Insurance: Protects the petsitter
by Elinor - 11 hours ago
Pet sitting for example is not an business that has to be licensed - but if you offer this service - the public is owned some assurance that you are not a felon - will steal the clients pets - etc. A business license is given at a certain address to register this to a certain person to do specific services, and these businesses are charged to act in legal and ethical ways. Now as to bonding - when you handle clients money or possessions - including their pets - you must provide proof that if anything goes wrong - and a loss occurs that you can provide prompt and ready funds to replace any loss. Insured - well, even people who own houses have to have insurance against natural disasters and that would include payments for medical care is someone has an accident and slips and falls on their property. And service businesses have to have Liability insurance. Benefits? none for the entrepreneur - but people may not want to use your business if others offer assurances that you don't.
by Judge Julie - 11 hours ago
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