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hello

Being you're just starting out, I would wait to see if you are going to like the vending business or not. As you grow, it would be wise to protect your assets in the future. Insurance companies vary on their premiums.

Here's a good link that you may find interesting.

http://vendiscuss.com/forums/view_topic.php?id=1329&forum_id=1&highlight=vending+insurance

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Having 1 or 100 machines doesnt really matter, it just takes one situation to make things go really bad. Having said that, I wonder which is better, getting insurance or creating an LLC?

obviously doing both would be great but being small I'd like to choose just one. Any thoughts?

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Hello,

I agree to the fact to give it some time.Maybe think about what you really want to accomplish over the holidays.But,on that note,whatever you decide-it's a good idea to seperate your business from your home.If anything does happen,you might loose the business but not everything you own.Good idea to check with legal and tax people for the right answers.

Good luck in your endeavers.

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Having 1 or 100 machines doesnt really matter, it just takes one situation to make things go really bad. Having said that, I wonder which is better, getting insurance or creating an LLC?

obviously doing both would be great but being small I'd like to choose just one. Any thoughts?

You're right. It only takes one. Don't get me wrong, I'm not telling you not to get insurance. If you feel safer with it, go for it. I just hate to see someone spend $250 to $500 on a policy that won't be used if you decide vending is not for you.

On the other hand, you may be like me and will not accept the word failure. I did tons of research and layed out a business plan before I started. I have too much time invested in this to fail.

Good luck with whatever you choose to do. If you're thinking about LLC, make sure you read all the stipulations. If I'm not mistaking, there is ways to get around the LLC.

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go ahead and get the insurance. All it takes is one person to say they got hurt or sick off of your machine and you are in TROUBLE. All we carry is a liablity policy and it is not that expensive. A very good investment or a lot of security.

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For starting small I would recommend an LLC and not worry about insurance. As you grow, get the insurance. An LLC will be cheaper and will give you some tax benefits.

Here are some links that discuss this...

http://vendiscuss.com/forums/view_topic.php?id=2794&forum_id=17

http://vendiscuss.com/forums/view_topic.php?id=2707&forum_id=17

http://vendiscuss.com/forums/view_topic.php?id=2052&forum_id=17

Kevin

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Bacho is correct. There are ways to get around an LLC. ( for a lawyer to that is ). An example of this is if the participants in the LLC do not have monthly meetings and keep notes etc. Its rare though.

I waited a year hello.  I formed an LLC before I started and I am now in the process of buying liability insurance.

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Actually, LLCs are pretty tight now. And a single person LLC can elect to be treated as a sole prop, so no need for meetings, notes, etc.

That being said, I won't go so far as to say a lawyer can't get around *anything*. But unless you are a millionaire, I don't think you need to worry about it :)

Merry Xmas all!

Kevin

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