Builder’s risk insurance provides financial protection for building projects while they are under construction or renovation. Policies cover fire, theft, vandalism, and weather. Builder’s risk insurance costs typically range between 1% and 4% of the total construction costs, or around $1,000 to $4,000 per $100,000 of construction costs depending on the project details. How Builder’s…
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Omnichannel vs Multichannel Retailing: The Ultimate Guide
In omnichannel vs multichannel retailing, the clear winner is omnichannel retail because it is an approach that integrates the customer experience across all sales and marketing channels from ecommerce, in-store and mobile apps to social media, email, and loyalty marketing. Multichannel retailing allows customers to purchase goods and services in many ways without integration. Omnichannel…
Public Liability Insurance: Cost, Coverage & Quotes
Public liability insurance is the term used in the United Kingdom for what United States agents call general liability insurance. U.K. policies cover claims your business caused another party’s injury or property damage. There is a U.S. public liability policy that costs approximately 10% less than general liability insurance but offers limited coverage. To protect…
What to Sell on Amazon
Choosing what to sell on Amazon is easier than ever with Amazon seller tools, apps, and resources. Look for evergreen products, which are items that are relevant year-round. Check product rankings and determine where to source your product. Also, product inventory and fulfillment are essential considerations when determining the best things to sell on Amazon….
Health Insurance for Small Business: Cost, Features & Providers
Many insurance service providers manage small business health insurance for owners and their employees at affordable rates. Companies with as few as one staff member can offer health insurance benefits similar to what corporate enterprises provide. In fact, the best health insurance for small businesses is often available through companies offering human resource and payroll…
Business Insurance for Startups: Cost, Coverage & Providers
Business insurance for startups refers to several potential insurance policies that protect a startup’s assets, investors’ interests, and employees. At a minimum, startups need general liability and business property but may also need policies such as workers’ compensation, professional liability, and key man insurance. A business owner’s policy (BOP) combines these with prices starting at…
Real Estate Chatbots: The Ultimate Guide
A real estate chatbot is an automated program that allows agents to simulate conversation with site visitors via a chat interface on their website. This program—or bot—helps answer common questions about properties and services without agents spending their own time interacting with visitors. This often results in new leads and, eventually, sales. If you’re ready…
How Credit Card Processing Fees Work: The Ultimate Guide
Credit card processing fees are services charges businesses pay to credit card processors and merchant service providers. Also known as credit card transaction fees, these fees occur when a business charges a customer’s credit or debit card. The fees you pay can vary wildly based on the fee structure of your chosen credit card processor….
Relationship Marketing: Definition, Cost & Examples
Relationship marketing is a method of building a customer’s trust and loyalty with a brand, resulting in ongoing sales that increase their lifetime value. Businesses employ this strategy as a way to create repeat customers, not single-purchase customers. As this results in repeat sales, all companies should consider using relationship marketing. In order for relationship…
Inventory Aging Report and How to Calculate: The Ultimate Guide
An inventory aging report is a list of the items on hand grouped by the length of time in inventory. It’s used to identify slow moving inventory plus the additional costs to store and maintain these products until they are sold. If you use accounting software, you’ve got a few options for creating the report….
Realtor.com Leads for Agents: How to Maximize Your ROI in 2019
Realtor.com is the second-largest online real estate marketplace, with over 18 million unique monthly visitors. The platform offers free and paid marketing and lead generation tools to help agents grow their business. Pricing information isn’t readily available online, but services for Realtor.com leads reportedly cost from $200 to over $1,000 per month. How Much Realtor.com…
Inventory Accounting: Definition, Methods & Examples
Inventory accounting is valuing and tracking fluctuations in inventory assets. The three primary inventory costing methods are average cost, last-in, first-out (LIFO), and first-in, first-out (FIFO). Businesses using manual bookkeeping systems should use the average cost method. However, businesses with nonperishable products should use LIFO, while FIFO is right for businesses that carry perishable items….