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 Post subject: What do I need to be legit, repairing?
PostPosted: Sat Sep 02, 2006 6:38 am 
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What am I looking at in terms of becoming official in repairing computers? Right now I don't do enough work to need any license, but if I do what do I need to be legit? I know I need some type of license, but what are the costs of getting bonded and insured, and what exactly does being bonded do?

Also while I am at it, have any of you found a good, yet cheap way to advertise and reach alot of people. I've been relying on word of mouth and posting flyers/business cards on bulletin boards. Don't seem to work to well :cry:


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 Post subject:
PostPosted: Sat Sep 02, 2006 8:28 am 
Northwood
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Bonded assures the client that:
1) The job will actually be done (you won't disappear with their money)
2) The job will be done correctly. Normally to be bonded, you need to provide proof of licensing/certifications/competencies.

Since the IT industry isn't a licensed one (like medical, construction, etc) you generally won't be bonded. Insurance is absolutely necessary though. It protects you in case you screw up royally and some businesses won't touch you unless you're insured. I've gotten several calls where the first question asked is - are you insured? It seperates serious companies from the rest.

The one type of bond you may use or be asked to from time to time is a surety bond. Large projects, like networking or when you're selling through expensive hardware deals, can be surety bonded insuring the client you will deliver and won't screw them. You can get those from most insurance companies for a minimal fee. My suggestion is to build a rapport with one insurance agent and use them as your go to.


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 Post subject:
PostPosted: Sat Sep 02, 2006 9:23 am 
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Thanks DC :D


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 Post subject:
PostPosted: Tue Sep 05, 2006 10:33 am 
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Anilat3r,

You dont need to be licensed to be bonded. A bond assures the client they will be reimbursed if contractor fails to complete the job.
It is not the same as insurance.

http://www.merchantsbonding.com/asp/faq/
http://www.nfib.com/object/4034479.html

The first step is to contact the small business division in your state government. Often, they provide help to start your own business. They will point out the licenses that might be required, taxes, etc. Many times they offer classes, social networking, etc. I think so many people overlook this resource. 99% of the consulting I have done has been thru social/business networking.

The next step is limiting your personal liability. This is done via an LLC or Inc. (depends on your state). This way you protect your personal assetts (house, car, savings) from litigation. In addition it will help you obtain lines of credit.

One thing I can tell you: Its easy to start a small side business. Its alot more complicated to do it correctly.


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 Post subject:
PostPosted: Tue Sep 05, 2006 5:49 pm 
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Thats all the crap I was hoping to not have to deal with. I still live at home and probably will for the next year or two. However this all might be absolete because I'm applying for a job at a local computer store. So I will be making money and won't have the need to advertise more, therefore no need for a business license/ insurance.

Thank you for all your knowledge though it is very helpful and may very well come into use.


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 Post subject:
PostPosted: Wed Sep 06, 2006 6:14 am 
Northwood
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markmark69 wrote:
Anilat3r,

You dont need to be licensed to be bonded. A bond assures the client they will be reimbursed if contractor fails to complete the job.
It is not the same as insurance.


That's a surety bond and not the same as being bonded - as was already explained.


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