One million is way too low. Many companies are asking for 5 million liability....minimum!
2 years ago a dock technician was cutting studs at a dock, when the rubber ignited. Within seconds the whole loading dock was ablaze along with 3 reefers filled with food. Damage.....4.5 million. Contractor had 1 million. Now, most places demand 5 million. Other contractors' had to up their rates to pay higher insurance.
I wish you good luck Ohio Tech, I know that more companies will consider private tech's as costs for large lift truck companies are getting too high. But they need to know if you bring down their operation from an "accident" that your insurance will cover them.
Finding decent prices on aftermarket parts will be your biggest challenge. Not much to choose from in Lift truck parts. Chinese are getting better at "cloning" parts getting them here.
i would have your customers pre-purchase the most common parts so they will not have any down time waiting on parts. This is a big issue with lift truck companies lately....not letting the tech carry spare parts, then forcing the customer to wait on each item. As a Lift truck tech, you wont have too much overhead since you are mobile. A small van will do. Keep close to other techs, as you may need their help with laptops or service bulletins. A case of beer may convince a factory tech to do a "re-learn" or calibration. If you genuinely care about the customers needs you will do fine. It's something big company tech's cant give...good honest dedication. They will stick with you over the big guys. But make sure to have back-up help, for when you take holidays or sick days. Check these forums and make note of all trucks that you service. List all possible codes and issues that someone else had in your phone or laptop. It's amazing how many of the same issues occurred to someone else with the same truck. Having this info right at hand can make you lots of money and save time.
Wish all the best to you!