Starting up your own beauty salon can be the realisation of a life’s dream. It can be very rewarding as your main goal is to make people look and feel better. Putting smiles on faces is a great way to earn living, but there are a number of important considerations you need to take before throwing the doors open.
Are you qualified?
Depending on what area of beauty therapy you’re engaged in, it may be necessary to obtain some form of professional accreditation. This will be awarded after taking some type of industry-related training so you should make sure you have all your necessary qualification before starting out. It will also give potential customers peace of mind that you run a professional outfit.
Taxing issues
Giving someone a relaxing manicure or revitalising facial can be fun, doing your taxes isn’t. However, if you are opening your own beauty salon you will need to be aware of how much and what tax you have to pay. This could include business tax, local taxes and income tax and national insurance on your and your employees’ earnings.
Health & safety
If you are dealing with cosmetics and other products as well as certain machinery, you’ll need to make sure everything complies with relevant health and safety guidelines.
Employer’s liability insurance
If you employ anyone at your beauty salon, you’re legally required to have employer’s liability insurance. This is to protect you if an employee makes a claim against you if they have been injured, suffered illness or had their property damaged while working for you. You’re also legally obliged to display a valid employer’s liability insurance certificate at your workplace.
Public liability insurance
Although not a legal requirement, it’s also highly advisable to have public liability insurance in place. This is designed to help you contest any claims made by clients or members of the public if they have suffered injury or loss as a result of your business practices. When you consider that compensation for such claims can run into tens of thousands of pounds, then it is a vital component of your business insurance.
Treatment risk insurance
Although public liability will cover you for claims of damage or injury, treatment risk insurance is specifically designed for those working in the industries where treatments are administered. It will protect if you a client makes a claim when a treatment has gone wrong or they have suffered an allergic reaction. It is intended to deal with those risks that public liability doesn’t cover.
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