Protecting Your Beauty Business

For many people, the dream of starting up their own salon or beauty business is achievable with planning, research and the investment of both cash and energy that any business would require. Even in times of recession, the beauty business still seems to thrive, as do cinemas, theatres and other forms of entertainment, as people feel they deserve a treat from time to time. The best beauty therapist in the world will fail if not properly equipped to deal with the administrative side of the business and that means regarding the operation like a business, not a hobby, from the start.

Location is critical to the success of your beauty business, especially if you dont have a well-established reputation and a long list of loyal clientele. Salons thrive in an environment that is clean, safe and relaxing, where customers can receive prompt and professional service. Your clients must be able to trust that the products and tools that you use on them are of top quality and safe. You cannot afford to expose your clients to the risk of infection (and yourself at risk of legal action). Many clients prefer to have their hair, nails and face done in one place and while you can specialise in one area, offering your clients the convenience of a one-stop beauty shop can set you apart from your competitors. Just as important in taking steps to protect your clients and customers is taking measures to protect your business as a commercial concern, taking account of absolutely required statutory insurance cover that any business operation would require and desirable add-ons that are unique to the salon sector.

Look for an insurance that is suitable for all beauty based businesses including manicurists, nail technicians and makeup artists. Ideally, your insurer should have products tailored for both home based business or a salon premises with contents, stock and equipment. Cover should also include public liability, employers liability and product liability. Salon insurance should include public/product liability including treatment risks for a minimum of £2 million, preferably with an option to extend to £5 million or £10 million. Employers liability (if you hire qualified staff) should be in place for at least the same amount. Seek a package that extends equipment cover to provide protection whilst in and outside of the salon or working away from home if you are self-employed.

The best tailored packages will also cover you for personal accident, providing financial compensation to directors and employees in the event of accidental death, loss of limb, loss of sight, total or partial disablement and provide personal liability protection for directors and officers of your business. Some packages will also provide up to £75,000 worth of legal expenses insurance cover in case of employment disputes, health and safety prosecutions and tax enquiries and disputes. The very best providers will even bundle a complete office insurance package if your premises are also your administrative centre as well as access to free business advice services, offering practical guidance on employment issues and access to legal consultants who can provide advice on tax and VAT, employment, health and safety and general legal issues.

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