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Fitness professionals, gym owners, and personal trainers work with clients to help them be fit, lose weight, and get rid of their chronic injury. Although a job that provides a lot of value in the client’s life, being a personal trainer or a gym owner comes with significant risks.

Fitness training requires lifting of weights and utilizing the strength of the body to its maximum potential. Clients might get injured, or may claim of not being satisfied with your training, and services. This condition can lead them to file a legal suit against you. Trainers in the gym working for you may get injured at your gym premises, and you being the owner of the gym will be held responsible. Moreover, some clients will not be satisfied with your services and may demand compensation.

If any such thing happens, you will have to face a significant loss in your assets and can turn out to be disastrous for your business. While some of these conditions can be avoided by being extra careful, there are a few situations which are not under your control. To avoid such problems, gym owners and personal trainers should always buy personal trainer insurance and a group health insurance.

Although none of these insurances are mandatory to buy, there is no good reason to avoid them.

Public Liability Insurance

Public liability insurance is one of the most critical insurance fitness professionals should buy. People working out in the gym may get injured. This injury can be as small as a muscle strain and can be serious conditions like fractures, and dislocations. Although the trainer is not always responsible for the injury, if the client files a lawsuit against you for being responsible for the injury, you will need to spend a lot of money while defending yourself. Public liability insurance covers the cost and expenses you will incur while going through the legal and court proceedings.

Having public liability insurance gives you mental peace while working because injuries in the gym are common. And, a minor looking muscle pull can turn out to be some serious muscle tear.

Employers Liability Insurance

Insurance liability insurance is a type of group health insurance that covers the cost of injuries that can happen to your employees in the gym. If you are a personal trainer or a gym owner with no employees, you might not need employers liability insurance. But, if you have a few employees in your gym working for you, group health insurance is vital.

Employers Liability Insurance covers the cost you might incur if any of your employees get injured or fall ill while working for you in the gym. The employer’s liability insurance also provides coverage if any of your employees get into a quarrel with a client or sudden events in which your employee gets assaulted by a client in your gym.

Professional Indemnity Insurance

Your clients may not feel satisfied with your services. Or, your clients may claim they have not noticed the desired progress that was promised. In some cases, your clients can sue you for not providing adequate services.
Professional indemnity insurance is important because no matter how good a trainer you are, or how effectively you manage your gym, there will be some clients who will not achieve their goals.

Some of them will accept that it is their responsibility to stick to their routine and recommended diet; some of them may file a lawsuit against you for not working properly with their regime. Therefore, professional indemnity insurance covers the cost of defending yourself in the costs and providing your clients with their compensation payments.

James Eckardt is the founder of Peak Advisors Inc., a boutique insurance brokerage on Long Island, NY. The firm has a stellar record of service with three decades of experience in health insurance coverage and hundreds of clients including small businesses, commercial enterprises, sole proprietor-ships and seniors.

Are you planning to make your first investment? If so, there are several things you need to consider to ensure that your venture is successful. As a first-time investor, you may face obstacles along the way, although these can easily be avoided if you stick to these guidelines.

Using capital you cannot afford

One of the biggest mistakes many first-time investors make is taking the approach of ‘go big or go home’, resulting in a significant investment that can bring with it financial difficulty. This is because they do not take all of their outgoings into account, as not only is a larger property more expensive, but it is also much more costly to manage.

The best advice for first timers is to start small with an apartment, or at least invest in a property you can afford. So, before choosing the property, you should consider every outgoing, including your purchase price, property management fees, renovation costs and more. You can then compare to this to your potential returns, which includes rental income and capital appreciation. This will allow you to work out your estimated net yield. First, take your expected annual income and minus your outgoings. You must then divide this calculation by the property price and multiply it by 100. This will help you establish whether your investment is worthwhile, or if your profits are not sufficient, you should look at properties elsewhere.

Lack of diversity

Once you’ve invested in your first successful property, you will most likely get the investment bug and want to expand your portfolio. This is when big mistakes are made, as many investors believe that because their first property was successful, they should invest in something similar. However, just because the first investment worked out well does not mean the same will happen for your second purchase. Instead, you should try your best to diversify, for example, if you invested in a semi-detached home the first time, why not consider purchasing an apartment next? This will cater to a completely different tenant market, and could even offer you even better returns.

To help you invest successfully, you should seek advice from property experts like RW Invest, who help their clients to diversify with their luxury apartments and off-plan developments, enabling an impressive portfolio. This allows investors to reduce their risk, especially if one type of property faces a decline, as they can fall back on their other investments and still reap lucrative returns.

Making impatient decisions

Whether you’re investing for the first time or the tenth, it is important to be patient and choose a property carefully. This avoids the issue of loss, especially with first-time investors who tend to go full-steam-ahead into an investment that they haven’t had the time to research.

Investors should remember to take the slow and steady route, especially in the beginning when you’re still getting to grips with the property market. Taking time to decide will also be more beneficial in the long-run, as being picky will allow you to benefit from both short-term and long-term financial advantages.

It’s undeniable that the construction industry is booming. Over the past years, the demand for construction services is continuously growing, making it one of the most lucrative industries today. For this reason, many entrepreneurs venture into the world of the construction industry. If you’re one of the many, then you know that you need construction business loans to survive in a cutthroat environment.

The best way to keep your business afloat in the midst of heavy competition is to secure financing and aggressively market your business. With that said, here are four innovative ways to do so:

1. Be a Part of an Industry Association

Industry associations usually have resource hubs where contractors can network and make quality connections that will eventually lead to success. This is especially true since building relationships and making connections are important in the construction industry. Additionally, members are often allowed to advertise or market their services at low or no cost.

2. Remember Your Existing Clients and Leads

Contractors are often caught up with everyday business operations that they tend to overlook the simplest marketing strategy: following up your current leads and clients. Failing to follow up on current leads means you’re possibly missing out on great business opportunities. Likewise, you should also contact customers a few months after doing business with them. Check in and ask them if you can help them with anything. A simple call or email would suffice. When customers are happy with your service, it can lead to more business and you can even ask for referrals.

3. List Your Business in Online Directories

When a potential customer searches for the best construction company in the area, search engines often show you online directories rather than individual websites. One way to market your construction business is to list it in online directories. When listing your business, include your name, address, contact number, business hours, etc. and leave no detail behind. The details you include can affect your ranking in the directory, so make sure to double check everything. Check your online listing regularly to answer questions and respond to customer feedback.

4. Be Specific When Advertising Your Business

It’s easy to be overwhelmed when advertising your business. Some entrepreneurs list every single service they offer in their ads, but this strategy can actually backfire. Telling your target market that you can do everything can actually be boring and it can even scare customers away. The most effective way is to advertise your skills one at a time. By advertising in small fractions, you can keep your target customers engaged, which increased the likelihood of them availing the services you offer.

The Best Construction Business Loans for Your Business

When running a construction business, you need working capital to stay afloat in a competitive industry. SMB Compass offers construction business loans for businesses throughout the United States. Our trusted financial advisors can help answer the questions you have in mind. Feel free to call us (888) 853-8922 or email us at info@smbcompass.com to know more.

Running a small business can be incredibly stressful. Indeed, a study by Office works revealed that 45% of Australian small business owners feel that their stress levels have climbed in the last year.

Naturally, the problems often stem from a shortage of cash. Getting a good business loan can be a huge help, but which type should you be most interested in?

No Assets? Try an Unsecured Bank Loan

This is a traditional bank loan. It isn’t secured against any assets or property, which means that it is a fairly high risk option from the lender’s point of view. If you don’t pay it back they will need to fight to get back their money.

Because of this, unsecured loans are typically more expensive than the secured type. They can also be awkward to arrange since the bank will have strict lending criteria. However, if you don’t have any assets it can be a decent option.

Got Assets? Ask for Secured Bank Loan

In theory, a secured bank loan should be quicker and a little bit easier to sort out than unsecured borrowing. The bank has the security of your assets, so it should also offer a lower rate and might offer a higher loan amount as well.

If you have assets then this can be a good choice. Yet, don’t expect it to be exactly easy to arrange. Banks usually aren’t the best option if you need to get hold of some money urgently and with little paperwork to be completed.

Poor Credit History? Get a No Credit Check Loan

This is a fast and easy type of small business loan. You are using an asset such as a vehicle of machinery as collateral. So, a no credit check loan can be sorted out pretty much instantly if you are in a hurry to get some cash flowing into the business.

It is a smart move when you have available assets but your credit history is poor. There is no need to jump through any hoops at the bank either, so if time is of the essence you will have fewer worries.

Want a Modern Approach? Peer to Peer Lending

This is a fairly modern approach to business borrowing that is now made available from a number of different internet sites. On the positive side, interest rates tend to be lower than with banks.

On the other hand, the lack of financial regulation in this sector of the industry might be off-putting for some people. In addition, it is sometimes necessary to take the loan out as an individual rather than in the name of the business.

A Slow Period of the Year? Look at Invoice Financing

Some businesses go through periodic slow periods when orders dry up and funds get tight. Invoice financing is a type of business loan that has been created to deal with this specific situation.

It is a way of borrowing against the money that you are due to collect from customers. Some firms that offer this facility will even take over the responsibility for collecting the money due to you on outstanding invoices.

Summary

There are now sensible borrowing method for small business with varying needs and situations. It is always worth taking some time to consider all of the available types of loan first of all.

Forex traders are often interested in running before they even learn to walk. Forex trading requires you to attend training under an experienced trading guide and sharpen your skills. You can become market-ready by joining the apprenticeship after you pursue some theoretical education.

This article throws much light on the importance of Forex education and how it can prove to be a decisive factor in trading.

What is Forex?

Forex is known as Foreign exchange, which is a decentralized international market for trading currencies. The forex market is a liquid market that operates all over the globe and even exceeds the average trading volume worth $5 trillion per day. This benchmark can’t be achieved by the combined stock markets around the world. But does that mean anything to you? Yes, as compared to the other forms of investment, you may discover specific exciting trading opportunities with forex trading.

How Forex education matters to traders?

You should download your first trading platform only after you get familiar with the trading fundamentals. That’s why it’s even more vital for you to acquire knowledge on Forex trading in advance.

The advanced operators are often of the opinion that they’re aware of all trading skills. But you can be sure that all traders have some area of opportunity and that they can upgrade their skills with time.

Thanks to the internet, it has become a lot easier nowadays to achieve quality Forex education. You’ll gain access to high-quality resources on forex trading when you have a PC and internet connectivity. Instead of risking your money on the very first day, you may try practising online trading with a demo trading account.

● Why learn Forex?

Learning Forex is essential as it balances much of your financial security. The stats are reflecting on how a significant chunk of the global population is retiring without sufficient funds. You must plan your retirement early on. After all, you won’t like to cut down your regular expenses, opt for a part-time job or put your retirement off.

○ Forex trading seems easy

The global forex market has turned out to be the biggest financial market in the world. It draws over $5 trillion in business on an average. The low costs, providing substantial leverage, and round-the-clock sessions have made it easier for you to trade in forex. However, you must remember that it’s also quite natural to lose your money while trading.

○ Trading has a technical aspect too

The technical analysis reflects the trend of price action within the trading market. Traders make the most of specific technical indicators and price charts for performing the technical analysis.

○ Security concern

Forex marks a high-risk – high-reward trading outcome. Stepping into the trading market requires you to acquire specific experience and skills if you want to trade on your own. You may consult account managers that represent a trading firm or work as individual professionals to manage your trading account for a fee. Instead of bearing any monthly or upfront payment, you may need to pay them any amount up to 30% of the profit that you earn.

If you invest in the right manner, then it’s considered to be safe. In that case, you could earn profits both in the long and short terms.

● Benefits of good Forex education

The next important point of discussion is the advantage of preparing for forex trading in advance:

○ Learn the basics of trading:

Commodities, indices, and stocks are some of the financial instruments that you’re aware of. Forex is a unique market with specific principles, terms, and concepts. That’s why you must gain more knowledge on the market before you even think of stepping in.

○ Develop your trading plan:

Forex is like any other business as has already been stated earlier. An effective trading plan needs to be in place as it happens with any company. You must keep your personal goals in mind and follow the basics of forex trading while developing your trading plan.

○ Chances of failure are likely to reduce:

Quality forex education enables you to enhance your profits and mitigate the trading risks. Once you begin to gain appropriate study and experiences, you’re bound to overcome the obstacles of the currency market. If you continue to do your research, you’re less likely to commit mistakes both through the initial and advanced stages.

● Things to consider in Forex trading

○ Risk management

Consider Risk Management as you need to manage the unforeseen challenges posed to your capital while trading. You have to make sure that you’ll sustain the losses and gain out of odds in the long run.

○ Money management

Managing the capital effectively and safely requires you to pay extra attention. Your trading account needs to grow strategically over some time.

● Where to learn Forex?

The future of the forex trading market is shaped by professionals that keep on upgrading their skills periodically. Most of these professionals owe their trading knowledge and skills to some expert instructor. Many online trading schools have created and launched stock trading courses for the rookie traders of late. A trading academy can impart the most desired professional skills and help you develop your unique online trading strategies. You can shape the future by gaining access to the global trading market with Forex trading.