Risky Business. Specifically It Will Research Proposal

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She also has to maintain the records of her rental patrons, and ensure their privacy by not releasing those records to the public.

6. Vicky will have to have motor vehicle liability insurance, (minimum $500,000), along with any other insurance her business requires, such as small business insurance that covers her property and employees. She also has to have a surety bond that is on file with the Colorado Public Utilities Commission.

7. Vicky will have to have liability insurance for her employees, especially if they operate the scooters, plus she will have to pay state insurance, such as unemployment, disability, and other insurance required by the state.

8. Vicky should structure her business so that renters sign a release that releases Vicky from damages in case of operator accident or error, renters have to be 21 years of age or older, have a valid driver's license, and they have to sign up for collision and liability coverage.

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However, even if they sign a release or waver, some accidents can still be her liability, so she has to make sure that the scooters are maintained regularly and are safe, and that she checks the driver's license records before she rents to anyone. Ultimately, there is little she can do to totally protect her business from liability, and that is why rental agencies cost so much to insure and protect.

Personally, I would not open this business, although it seems as if it could be profitable if it was managed effectively. With 30 scooters, she qualifies as a fleet, and certain regulations apply to that, including some tax limitations and reductions. However, the liability of this business is far too high, in my opinion, and since she has $50,000 of her own money invested, she could stand to lose a lot more than….....

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