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2024-09-27
By: Advocate Brokerage
Fall sale season is upon us, and that means more people coming in and out of businesses across the country. But, as a business owner how do you encourage activity while minimizing liability?
Start with making sure that your business is properly secured. This will begin with a foot traffic analysis that helps to protect the number of people in and out of your business during peak times. This gives you an opportunity to adjust your security personnel. Speaking of your security staff, make sure that they are trained to handle security threats with discretion. You can also add additional alarms and audiovisual equipment to keep an eye on valuable merchandise.
The best time to review your insurance coverage is before you need it. Contact your insurance advocate to discuss policy limitations/exclusions that might affect your business from Black Friday through the New Year. You also want to take measures to ensure against additional liability risk associated with more customers and temporary employees.
Your employees and customers are your most valuable assets and keeping them safe is always your number one priority. Work with your security team to implement crowd management strategies and make sure that all of your emergency exits are clear and clearly marked. All entrances and exits should be accessible as well. Key staff members should also be trained in first aid and emergency response. Just as important, all employees should be fully versed in your emergency preparedness plan to handle theft and other incidents discreetly yet effectively.
Because more products move in and out during the busy season, make sure that your inventory management system is working properly. This will help to avoid inventory discrepancies and product availability that might cause upset to your customers and damage to your reputation.
For small business owners, the last quarter of the year is usually the most profitable. Help yourself keep it that way by minimizing risk, checking your insurance coverage, and putting people first.
Contact Advocate Brokerage today for more information on business insurance for endeavors of all sizes.
