candlemama Posted March 18, 2010 Report Share Posted March 18, 2010 I am very, very new to candle making as a hobby and have been reading the posts about liability insurance, which are scaring the hell out of me. I'm not planning to open a candle-only type business but am considering selling personalized hurricane shells if I get good enough making them. I currently have a very small online business that sells personalized memorial items and keepsakes to families who have lost a child. We sell other companies' candles right now. And, no, I don't have liability insurance, and we are registered as a partnership (no personal asset protection). I do not turn enough profit to even consider buying insurance that runs $500-$1000 a year. The only reason I have this business is because I want to help other parents who have lost a child. I work full time and have two small children -- no time really to spend on online marketing (which is a full time job in itself). Our business license is up for renewal in a few months, and I am thinking about going to an LLC so I can have some protection.I searched the boards but couldn't really find an answer. Does anyone have any insight into whether I should be carrying liability insurance to sell other companies' candles? I know, probably a strange question to ask people who sell their own candles, not other people's!I was planning to test two ways of personalizing candles -- 1) make a hurricane shell myself and imbed the personalization, and 2) buy a hurricane shell from a wholesale company and screen print the personalization on the shell. Any opinions on whether I should have liability insurance for the second option?I read the recent post from Les Chandelles on LLCs and liability insurance and am thinking I don't need it since literally my profit is so low, and I don't really have any business assets (other than a computer). We don't carry an inventory right now as all our products are drop shipped from a vendor or, in the case of the charcoal memorial portraits my husband does, made to order.Any opinions and comments would be really welcomed! Quote Link to comment Share on other sites More sharing options...
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.