Preparing a disaster plan

Do you have a contingency plan in case something unexpected occurs at your business? Whether it's a power outage, robbery, fire, or a hurricane that rips through your area, you should have a disaster recovery plan.

Here are a few suggestions that can help you recover faster following an event that interrupts your business.

• Store the following materials in a safe place, away from your business:
• Back-up disks for everything on your computer. Back up your computer system on a regular basis.
• A copy of your latest physical inventory and year-to-date printouts of sales, purchases, etc.
• A copy of your vendor list with complete mail, telephone, and e-mail information. An updated list of merchandise on memo and the vendor(s).
• An inventory of your business personal property (showcases, desks, chairs, computers, equipment, etc.), including a video of your store contents.
• Security information, including the name, phone and address of your alarm service and vendor for safes or vaults.
• Insurance information, including the name, phone and address of your agent and insurance carrier and a copy of your insurance policies.
• A list of employees, phone numbers, addresses, and e-mail addresses.
• A list of businesses that provide services, such as your accountant, attorney, payroll vendor, and bank officer.
• Information about a cleaning service, contractor, and realtor. If your building has been damaged, you may require a cleaning service and a contractor. In some instances, you may need to immediately relocate and will need a realtor's help. Having this information handy can speed the process.
• Your business's customer list with phone numbers and addresses. This should include a separate list of customers who have entrusted you with their jewelry for repair or consignment or have merchandise on layaway.
• Contacts for the shipping companies that serve your business. You will need to contact them immediately to provide alternative delivery instructions.

Some of the information should be updated annually. Other parts must be updated daily, weekly or monthly. While this may sound like a lot of work, once you have a procedure in place, your disaster recovery plan should be just a routine part of your business operations.

No one expects a disaster, but you should prepare for it.  

See our Jewelry business insurance options in Canada.