I am doing a project for school, creating a fake business plan for an online grocer that we are creating in Boston (again, fake grocer).
As part of the business plan, we must include miscelleneous costs, including Insurance.
Any idea? (180,000 sq ft facility)
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Okay, school project right? Lets say you get a commercial package policy. This will cover property and General Liability. For your guesstimate I would say around $34,000 year. You will also need workers compensation. This is generally based on number of employees and payroll. For your guesstimate, I would say aroud $28,000 year. There are other types of coverage you would need as well, but, these are the basics. Good luck with your project!