Making Millions Teaching 50k Kids How To Use Heavy Machinery. Ep. #031
The Koerner Office - Business Ideas and Small Business Deep Dives with Entrepreneurs
Startup Costs, Software Development, and Insurance Challenges in a Unique Business Venture
Startup costs for this venture predominantly involved construction expenses to build the park from scratch. Developing the software internally was complex but feasible with the right engineer onboard. The business faces challenges from skeptics and haters, particularly around insurance, safety, and liability concerns. Overcoming these challenges and securing insurance required finding the right carrier who understood and supported the innovative business concept. Despite initial skepticism, the company has had no incidents in two years, showcasing its commitment to safety. Ultimately, the insurance costs are in line with other similar businesses, and the company's safety measures and technology inspections help reassure insurers and the public.
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