Precision Services

Tell me about your business!
- what is your breakeven number in your business monthly?
- what is your close ratio?
- what does your cash flow projections look like for the next year?
- what is the percentage you spend on cost of good sold each month and how is that compared to industry standard?
- what percentage of your monthly income is net profit?
- what percentage has your business increased in revenue year over a year?

If you don’t know how to answer these questions, then it’s time for support you can count on! At Precision Business Services we provide accurate monthly financials and business insight to help you understand how to not only effectively run your business but GROW your business!

We have 10 spots open for new bookkeeping clients for 2026! Reach out via email at [email protected] to secure your spot today!!!!

This week I wanted to talk to those of you who have a house you rent to individuals as a "halfway house" type of business.

First, your personal homeowner's insurance, even if you change it to a tenant/landlord policy, is not the correct coverage for your new business! If you call your agent and explain what the risk is, you will likely find out they do not cover that type of risk.

In fact, to be insured properly, you will likely find yourself in the Surplus market. This type of market is very different - higher deductibles, higher premium, only way to make payments is by financing the premium, some have theft exclusions, and has additional fees such as broker fees and taxes.

But on the flip side, you get to insure your business which gives you defense coverage if you are sued for something the policy would cover (you should start an LLC for the business to separate your personal liability), you can add loss of rents so if there is a covered loss you still receive income to pay your mortgage, reputation risk if you have a claim or lawsuit that negatively impacts your reputation, and you have higher liability limits to match the exposure.

You should be looking for a package policy with at least $1M per occurrence GL coverage and property coverage on special form (if at all possible). The premiums for these types of policies are in the neighborhood of $6k-$8k depending on the property values. In addition, you may need to have Sexual/Physical Abuse coverage, Cyber Liability coverage, Directors and Officers coverage, or Professional Liability coverage depending on your operations.

If you have questions, want to have your policies reviewed, or need a quote - contact us today! We specialize in the Surplus market and will make sure you are properly covered!

Call now to connect with business.