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5 Reasons to Buy Renter’s Insurance

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5 Reasons to Buy Renter’s Insurance

As of the first year, the Federal Housing Finance Agency announced that it would begin to phase-out mortgage loans that exceed a threshold value. While this sounds good in theory, it will harm homebuyers. To continue to receive mortgage loan discounts, homebuyers will be required to have more than 20 per cent of the value of the cash home. If you’re already thinking about buying a home, you’ll likely want to act fast.

When the FHFA announced its phase-out plan, it explained that many lenders have already stopped offering mortgages to homebuyers who don’t have more than 20 per cent of the purchase price in cash. Buy a home, and you’ll need to secure financing without exceeding the value threshold. Fortunately, there are other ways of getting home without having to sell everything you own. One of the most common solutions is buying a home as an individual instead of as a buyer’s agent. To do this, you’ll need to secure a mortgage and pay rent simultaneously. Purchase renter’s insurance.

You’ll Be Protected Against Losses.

A mortgage payment is an insurance on your home. The lender is essentially paying your mortgage interest in exchange for the right to foreclose on the home if you don’t make your payments. So by securing a mortgage and paying rent, you’re essentially paying for insurance that protects you against losses.

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Twenty per cent down payment, or if you can’t get a mortgage because of the valuation threshold, you have a couple of options. You can use the rental income from another property or put 20 per cent down and then rent your current home while you’re looking for a new one.

You’ll Be Protected Against Damage.

Another reason to buy renter’s insurance is that it protects you against damage to your home. If a fire, water leak, or other event damages your home, you’ll want to be able to replace it. Won’t cover damage to your home. And even if your policy does cover the damage, you may have to pay for repairs. Most policies require you to pay for repairs in the same amount as you paid for the policy. It’s not as straightforward as simply replacing your home.

Your Mortgage Company Will Be Protected

Mortgage companies are passing the cost of the FHFA’s mortgage regulations onto homebuyers. That includes the increased mortgage application and mortgage processing fees. But the mortgage regulations are so complicated that many lenders are still figuring out how to implement them. That means they don’t have a clear plan on how they’ll charge more for new mortgage loans.

That’s a problem because mortgage companies collect mortgage interest just like homeowners’ insurance. And like homeowners’ insurance, mortgage companies pay for some of it in exchange for the right to foreclose on your home. So, if mortgage companies pass on the FHFA’s higher costs to homebuyers, your mortgage company will be protecting itself by reimbursing you.

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It’s Good Business

Homeowners who have unnecessary expenses are a burden on the entire economy. When one person holds a lot of excesses, it means there’s less for everyone else. It would be best to get rid of unnecessary expenses, like home insurance and mortgage insurance.

By getting rid of these expenses, you’ll be doing your part to help keep the cost of homeownership affordable. And it’s good business because it takes less risk for you to have homeowner’s insurance. You have to risk to make a profit. That means it’s good business to protect your home with insurance.

You’ll Be Protected against Theft.

One of the biggest reasons to buy renter’s insurance is that it protects you from theft. You may have heard that burglars target expensive homes because they assume the owners will have expensive insurance. But that’s not true.

It’s the exact opposite. Burglars target homes with cheap insurance because those homes are less likely to have insurance. If you don’t have insurance, you’re less likely to hire a security guard or install an alarm system. And if you don’t take those steps, you’re less likely to protect your home with a security system.

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Conclusion

Homeowners insurance protects you in case something happens to your home. Renter’s insurance protects your physical property and financial assets, like your credit score and money. You need to buy both homeowner’s and renter’s value and damage.

Even if you don’t live in a high-value area, you may benefit from buying a policy that protects you from loss of value. And as someone who’s looking to buy a home, it’s important to protect your finances and credit score. That’s why it’s important to buy renter’s insurance.

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How To Start A Recycling Business In South Africa (2022)

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Recycling business is one of the most lucrative small businesses that is mostly looked down on in most African countries – South Africa included. This business involve the process of recovering and reprocessing scrap materials into useful products.

While this business is being looked down upon, it is very profitable, and the most interesting part is that it requires little capital to start. That said, let’s look at how you can start a recycling business in South Africa.

How To Start A Recycling Business In South Africa

Create A Budget

Before starting a business, the first thing you need to do is create a budget. Having a budget will help you know what and what not to spend money on. It will give you a clear idea of what you are doing and reduce the risk of spending money on unnecessary materials and services.

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The cost of starting a recycling business will depend on how big your business is and what type of operation you are looking to run. You will also need to budget for permits and licensing. Recycling businesses can’t be run without them.

If you’re going to quit your job to start a recycling business, make sure to save enough money to cover your expenses for at least one year. You might not get the expected profit immediately.

The expenses to bear in mind include:

  • Business registration
  • Vehicles to haul recyclables
  • Storage space for your recyclables
  • Employee salaries
  • Machinery to process recyclables
  • Money to pay people for their recyclables
  • Acquire The Relevant Equipment/Machines

Find A Perfect Location

When starting a recycling business, the location of your business is one of the major things to consider. It doesn’t matter if you specialize in scrap metals, plastic recycling, or cardboard. Your main customers should be within easy reach of your business.

Also, transporting the materials to your location might cause your products to cost more and this might stop customers from buying from you and going to your competitor who is selling at a cheaper price.

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Therefore, finding businesses or factories that make a lot of recycled materials is important and move your business closer to these companies.

Get A Space

After identifying the location where you want your business to be situated, the next thing is to get a space where you will store, process, or sell recyclable materials. This can be done by leasing or buying a building.

You might be able to use an existing space like a garage to start if you’re just collecting materials to bring to a processing facility.

It is important to check the building you are considering for your business has the appropriate zone.

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Also note that it’s important for customers to easily access your location, whether they are coming to buy items or drop them off. It should be centrally located, with plenty of parking.

Register your business

A lot of benefits come with registering your business, including tax write-offs and credibility. Big companies won’t work with an unregistered company.

It costs only R175 to register your business through the CIPC and It usually takes a few more weeks before everything is up-and-running.

Get Permits

A business license doesn’t mean you are ready to start your business. Every state has rules and requirements regarding permits that certain types of businesses must obtain.

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The type of materials you have collected and the extent to which you sell them to the public will determine the type of permit you require. You must comply with all federal and state environmental protection laws if you handle hazardous materials such as mercury from electronic devices.

Get Your Capital Ready

Before you start a business, you must have your capital ready. Although many government agencies provide small scale businesses with funds to start their business, it is better if you could start with your own capital because getting a government fund takes a long process.

However, as long as you have a solid business plan, getting funding shouldn’t be difficult.

Get The Necessary Equipment

You cannot operate your recycling business without the right equipment. These machines and equipment must be purchased. If you’re on a budget, equipment leasing or partnership with recycling companies could be an option. The machine or equipment you purchase will depend on the market.

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Generally, the equipment needed scales to weigh all your plastic waste, bins, sorting and grouping equipment, washing gears, etc. If you’re working with large quantities of recyclables, you’ll require shredders, pulverizers, granulators, and other equipment to reduce materials into smaller pieces.

Select The Products To Recycle

Lastly, you have to select the product you want to be recycled in your company. As a business owner who deals in recycling, there are hundreds of materials you can recycle.

However, picking we a few won’t only make your work easy, but it will only increase trust since companies who work with the material you are recycling would see you as an expert when handling only those types of materials.

Also, not all materials are profitable when it comes to the recycling business. To help you avoid jumping into recycling a product that will not positively impact your investment, we have highlighted the major products with high ROI that can boost your recycling business within a few months.

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Most profitable products to recycle are;

  • Aluminum cans
  • Plastic bottles.
  • Old cooking oil.
  • Old electronics.
  • Car batteries.
  • Scrap metal.

Advantages Of Starting A Recycling Business

Recycling Maximizes a Businesses Profitability

As a business, you get paid by many big companies in South Africa for helping them recycle their scrap materials.

Most times, these big companies collect scrap materials from the environment, they turn it over to recycling companies to convert the scrap materials into useful products, and if you could get a deal with a major company, you can significantly raise the profitability of your business.

Additionally, a successful recycling program frequently generates more interest in your company, allowing you to profit more from your green initiative.

Creates a Positive Workplace Culture That Attracts Top Talent

South Africa as a nation has grown significantly more environmentally conscious over the past few years. Strong green initiatives foster an environment at work where people care about improving their systems and the environment as a whole. This welcoming, forward-thinking workplace environment frequently draws top talent. You can more effectively and efficiently achieve your business goals by luring and keeping the best employees.

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Recycling May Provide Opportunities for Business Grants

Recycling is valued by both public and private organizations for business. The presence of an extensive recycling program frequently qualifies your company for grants and other fantastic opportunities. This benefit shouldn’t be disregarded because it could prove to be a valuable asset for your business, especially if you are just starting out.

Three Possible Problems You Might Face When Starting Your Recycling Business

Starting a business from scratch is very demanding. The whole process requires patience, time, and effort from getting funding for your business to keeping it up and running.

However, we have highlighted the three common problems most people face when starting their recycling business.

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Funding

If you are starting out as a sole entrepreneur, you might experience problems getting funds for your business. Also, most government loans for business owners are very difficult to get because it requires several processes and numerous submission of documents just to get it approved.

Location

Secondly, getting a perfect location for your business is another problem you might encounter. As a recycling company, you need to locate your business where both your customers and clients (organizations you work with) will be able to access it without stress.

Getting Clients

Lastly, you might face problems getting clients for your business. Most companies in South Africa now build a recycling department in their company, and this makes it more difficult for recyclers.

However, if you can pitch your business perfectly and offer them mouth-watering rates, you should be able to convince them to work with you.

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How Much Do Recyclers Make In South Africa?

Recyclers usually earn between R5,000 and R8,000 per month in net monthly earnings. As an employer, if your employees work 45 hours a week or more, you should be expected to pay them about R3,000 and above monthly, depending on their roles and experience.

Conclusion

If you’re considering starting a recycling business in South Africa, it is important to research the field to determine if it’s feasible and could generate income. Depending on the kind of business you’re considering, you’ll require an outline of your business, study the competition, and then review the recycling policies of your business.

Most entrepreneurs are taking advantage of this new avenue of opportunity and once you’ve mastered the recycling business aspect, you may be part of the group of recyclers.

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10 On-Demand Kasi Business Ideas

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Kasi Business Ideas

South Africa needs more business in various towns to enable money flow and distribution across each town and state. We agree that kasi business has made many millionaires in South Africa doesn’t mean that there is no room for more millionaires in making.

There are many kasi business opportunities available that you can still venture into as an aspiring entrepreneur, there is a lot of money to be made from that.

The only way many will be able to make the money is by starting small and then building the business to the level you want.

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The mistake young business owners made is thinking that business success will come automatically once they have put little money into the business forgetting that nothing works that way, you must be willing to start small and then build to the top.

When i first visited south Africa first in the years 2010. I made some surveys in which my aim was to find a business that will be able to start fetching money after the second year.

I did my survey for a period of 6 months, I got ideas from people I trusted to give me legit information while I scramble for my own way.

After a period of 6 months, I was able to get ideas of the business I could start. Now the problem was determining the best place to start that very business which took me a period of 3 months totalling 9 months I spent in a business venture in South Africa.

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Due to the period, I spent finding the right business that will best suit me, I got success in my business. Thou my success didn’t come once.

The time came when I felt like I have made the wrong choice by venturing into business in South Africa, but at this point, I had two options, one was too quiet and the other was to continue with the hope that my tomorrow will be better.

I stuck with the idea of staying strong and building my business in South Africa and after about 2 years of running my business, I started getting success in every expert, even the place I least expect.

My point is that no business will get success from the very first day it is launched, you must be willing to sacrifice on behalf of the business, put your best into it and sometimes go hungry to make sure you are successful in any one you choose to go with.

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I will guide you on the top kasi business you can start today in South Africa, during my time there was no one to help me make the right decisions, everything I did was based on trial and error till I found what works.

Here you have the luxury of getting first-hand advice from someone who has been there and knows the exact steps one can take to succeed with any kasi business idea.

In those posts I will show you the best kasi business ideas you can start from today, these ideas are not very hard to start and will not be very hard to master.

Kasi Business Ideas

The unemployment rate has risen to a point where since the modern history, there has not been any time the rate at which people can not be employed.

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As a young man or woman, you can start your kasi business with this ultimate idea I am giving out here now. It is your job to figure out the one that will best suit your interest, build on it and establish a  name on it. Doing this will help you solve the employment rate in your own capacity.

1. Videography and Photography

Though there are lots of phones with amazing cameras, this only can not eliminate the need for professional photography.

Start covering occasions for people who may need your help, and use drone technology to capture and video invent. People are willing to pay a huge amount of money when you do your work professionally.

For a startup, you will be required to spend money on cameras, video recorders, and drones with good cameras. Buying this item will be very expensive for a stater, I will advise going with what you can afford the when you start making money

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2. Provide Laundry Services

Many shy away from laundry services thinking is a job made for those with low self-estimate. Many millionaires started as laundry service provider, raised money hen ventured into other business still doing their laundry business.

This is a great way to start up your kasi business in any town in South Africa, there are lots of places that need laundry providers, look out for those paces then establish your base there.

3. Start as a Freelancer

The freelancing market needs more hands due to demand exceeding the supply. Not too many people know that as a freelancer you can live the life you have always dreamed of living having the freedom to work anytime you chose to do so.

Start delivering jobs that require low skills, study the ones that require tactical skills, and when you master it, you can switch to them. Remember you should be willing to endure the pains that come with it.

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4. UI and UX Designer

5. Pet Training and Grooming

6. Gym Trainer

7. Virtual Teacher and Instructor

8. Commercial Transportation Business

9. Private Driver

10. Car Wash Services

Bottom Line

This is my 10 list of kasi business ideas I consider very lucrative. You do not have to do everything at once, there are ways to make your work more productive and that is putting all of your work at a particular place a time, some times multitasking ourselves doesn’t really work out fine but putting work where it is required and Putin our best every time we decide to do anything.

I hope I have helped you make a better choice of kasi business ideas you want to start be sure to give us feedback on any place you will e ending help. I will be more than happy to answer any further questions you want.

Starting any of the kasi business ideas we have listed here may turn out to be the best you will do for yourself, you do not have to wait till you have everything, you can start with that little money in your bank account and then expound as your earn.

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How To Setup Online Boutique Business Plan

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How To Setup Online Boutique Business Plan

Building a business from time has not been an easy thing to do, we understand this very well which is why we are about to teach you how to prepare your online boutique business plan.
Ever wondered if it is possible to own an online boutique where your showcase trending fashions for people to buy, yes it is very possible.

Many may call that kind of business clothing e-commerce websites while others know them to be online boutiques. I will teach you the exact ways I was able to set my plan for my online boutique business, the steps I follow in order to get a successful business plan and the ways I was able to do it.

You must be wondering why it is hard to get a business plan for your online boutique very hard, it is because you have been looking at the wrong places which showcase a very lengthy business plan that appears impossible to achieve.

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The truth still remains that a business plan needs to be carefully written and involve many steps in order to arrive at the best approach but it doesn’t need to be stressful.

There are some websites that will give you a good already made online boutique business plan, but none will give you a business plan that perfectly suits you and the aim you have for the business.

There are a few things I will really focus on teaching you here, those things are the main criteria for preparing any online business plan. You can apply it to any only business you may be venturing into tomorrow.

  1. Preparing a business plan base on your experience
  2. Make sure everything needed is in place
  3. Setting a realistic goal
  4. What do you look for as a guide while preparing your business plan
  5. Cost of setting up your business
  6. The approach to promoting your online boutique
  7. Area of concertation
  8. Startup budget plans
  9. Strategy to keep customers glued to your online boutique business
  10. Numbers of staff you will need to start up the business

From my experience, I have learnt that it is better to include both the known and the unknown while preparing your business plans.

Read also: How to verify your business

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There is no formal agreement on what a business plan should look like, it only needs to be realistic and presentable in case you want to get a loan from a bank. I highly recommend your pay very close attention to these things.

Online Boutique Business Plan

Having made a deep research on an online boutique business plan, I concluded that there are things that are not supposed to be limited while there are things that are not supposed to be added based on the need for modern developments.

One thing you should always in mind is that the need for you to stay on track should be there, monthly analyses should never be missed and quality reports should be examined very well in order to improve work output and improve the income your online boutique generates.

1. Preparing a business plan base on your experience

If you have any prior experience in business planning, I will recommend you start from there to develop your online boutique business plan.

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Thos approach will greatly help you consider those things that have helped you or have made the previous online business successful.

Before preparing my online business plans, I will make sure I first include those things that have previously helped me achieve success.

Never underestimate your potential, only use the external knowledge your get in a place where there is no better option for your to go.

2. Make sure everything needed is in place

Making sure everything is in place simply means setting up the most important things prior to launching. Many mistake new aspiring business owners make is ignoring the little things thinking they will fix themselves when the time comes not knowing that anything that is to be fixed should be done by using the owner of the business.

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There is no point leaving some things that matter in the idea that it will take care of itself. Be sure to checklist everything and see that it is in place before launching your online boutique business.

3. Setting a realistic goal

People are fund of not setting a goal that they know they can achieve, they so much believe in fantasy forgetting that we are not in Disney movies.

Reality requires us to be realistic, set our goals based o what we know we can achieve, and do not include what others have done which you are not certain on how they were able to reach that level.

Your goal should be based on your abilities and strength.

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4. Cost of up your business

Consider very well the cost of setting up your business. Every business requires capital to start, check the right amount it will cost you to start and do not be stingy about it.

Also, set up a place where you will get the money from. Getting a loan may be the best option but first check other options you have then if there is none that may work for you, go with the loan.

After getting the loan, it will be in your best interest to work and repay the loan you have taken from the bank.

How To Setup Online Boutique Business Plan

5. The approach to promoting your online boutique

Setup a medium of promotion and how your will e able to reach your audience. There is no way you will succeed if you are overlooking the way you will be able to reach buyers for your online boutique business.

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Today you have many options like social media and the internet, you promote your website with Google or Facebook so that with their help you will be able to reach to new audience.

6. Strategy to keep customers glued to your online boutique business

After getting those customers for your online boutique business, it is another job to keep them from leaving you. You need to find ways to let them stick to you, and get ways for them to keep buying from your services.

You can create an avenue where you let them voice out their experience and give a review about your services then look out for the place where your performance is not encouraging and strengthen it.

7. Area of concertation

You need to have at least 5 areas you concentrate on to grow your business, loom for those areas where everyone is ignoring then set up your customer base there.

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Applying these technics will greatly help your stand the test of time, you will not have lots of completion and as a starter, you will not need to spend plenty of money on promotion.

8. Number of staff you will be needing

Only you can not do the while jobs, plan for numbers of staffs you will be starting with, plan o how much if staff will be paid after a month and the medium of payments.

Employ competent staffs that will assist you in the business, they should be able to have a good goal for your online boutiques, the should e able to handle many parts of the job.

They should be able to multitask since you will be needing a lot of it for your online boutique business.

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