In Texas, as of last year Insurance was not required any longer. I dropped this like a hot potato. Never used it and was a profit drain big time.
I feel the same about being bonded.
Where you need to be careful is with plumbing and electrical work. This area can be profitable and also a snake in the grass. I would not attempt "big" projects in these areas unless you have your license. I feel that if you make a mistake or cause a fire or water damage, your business is down in a heart beat.
Strive to do things that you are knowledgable in and confident in. Remember, you are liable if something happens with a short or leaking pipe. You were the last one in there and they always say that.
Begin your busines as a word of mouth advertising program. You will be very surprised how this "exponiates" itself out.
Get business cards, get magnetic signs for your vehicle. Pass your name out in churches, business', paint stores, and home centers. Get a web site eventually. Remember, the first five years is the test. Be prepared for good times and also for bad times.
Do not bring on help until your soo booked you cannot keep up. Add one person for every $50K in business revenues.
Your peak times, depending on your region, will be from April to Oct. Decide what you will do on the recipical of this time.
After each job, in the beginnin, buy a new tool that you will need. Do not buy cheap tools, a down tool on a job is that lost job. Get dependable good tools.
Maintain good character, dress, language, and RETURN CALLS AND NOTIFY IF LATE. People in business these days would be millionaires if they only returned all calls. Return them that night.
Shop competition on rates to charge. You do not want to be high, and you do not want to give your time away. Set up fees for the main repeated jobs.
After a job, clean up the site, vacume the room, rake the yard, leave the site BETTER than it was before you got there. People really like that.