New Youth Sports Training Business

[BAMyankees614]

New Youth Sports Training Business-FLORIDA

Hey all, I am new to this site and hope to gain some expert insight for my business idea. I live in a small town on the west coast of Florida and see a demand and need in my community for specialized sports training and education for local kids. I have several concerns and questions before pursuing this venture and was hoping to get some answers.

- Do I need to incorporate this kind of business?
- If so, what would be the best route to take? I plan on managing all aspects of the business myself as long as possible, so would a sole proprietorship or LLC be the better route?
- What kinds of insurance would I be in store for? General liability insurance and home-based business insurance?
- I plan on using public fields and facilities to hold training sessions and can provide fully-insured transportation as well. Is some form of insurance required for usage of public fields for business usage?
- Would a well-written waiver form indemnify me of most risks?
- Would I be liable if a child gets hurt by breaking an ankle running on a public field?
- Would I be liable if I hit a baseball and it broke a child's nose, even if there was a parent signed waiver?

Thank you very much in advance for your help,

Billy

 

[Antigone*]

New Youth Sports Training Business-FLORIDA

Hey all, I am new to this site and hope to gain some expert insight for my business idea. I live in a small town on the west coast of Florida and see a demand and need in my community for specialized sports training and education for local kids. I have several concerns and questions before pursuing this venture and was hoping to get some answers.

- Do I need to incorporate this kind of business?
- If so, what would be the best route to take? I plan on managing all aspects of the business myself as long as possible, so would a sole proprietorship or LLC be the better route?
- What kinds of insurance would I be in store for? General liability insurance and home-based business insurance?
- I plan on using public fields and facilities to hold training sessions and can provide fully-insured transportation as well. Is some form of insurance required for usage of public fields for business usage?
- Would a well-written waiver form indemnify me of most risks?
- Would I be liable if a child gets hurt by breaking an ankle running on a public field?
- Would I be liable if I hit a baseball and it broke a child's nose, even if there was a parent signed waiver?

Thank you very much in advance for your help,

Billy

You should sit down with a CPA and discuss the financial and organization aspects of you venture with them.

I'll leave the rest to my esteemed colleagues.

 

[FlyingRon]

- Do I need to incorporate this kind of business?
- If so, what would be the best route to take? I plan on managing all aspects of the business myself as long as possible, so would a sole proprietorship or LLC be the better route?

That would depend on the nature of the business, the number of principals involved, etc... If it's just you (or you and your wife), there's not much to be gained either tax wise or liability wise by any sort of corporation. If you start hiring others, then a corporate entity might be worthwhile.

- What kinds of insurance would I be in store for? General liability insurance and home-based business insurance?

I don't know what "home based business insurance" would be, but since you appear to not be conducting this exclusively at your house, I doubt that woul apply. You need serious business liability. This is a business where both injury liability and allegations of impropriety of youth might arise. You need to talk to a business insurance specialist.

- I plan on using public fields and facilities to hold training sessions and can provide fully-insured transportation as well. Is some form of insurance required for usage of public fields for business usage?

I can almost guarantee that there are hoops applied by whatever entity owns/manages the fields (schools, parks and recreation, etc...). This may include both documentation of insurance but also other assurances and perhaps even a fee or bond to use the field.

Note that the requirements for licensing and insurance for transporting the public/customers is more rigorous than what you need for your private business use.

- Would a well-written waiver form indemnify me of most risks?

A waiver may help, but it's no guarantee. You can be sued anyhow. Anybody not a signer of the waiver is not bound by it. For example, if I go skydiving, I've waived my rights if I die, but I can't waive my wife's rights.
You also can't waive your (gross) negligence.

- Would I be liable if a child gets hurt by breaking an ankle running on a public field?
- Would I be liable if I hit a baseball and it broke a child's nose, even if there was a parent signed waiver?

Nothing can prevent a lawsuit. If you are negligent, even with a waiver, you could be found liable.