15. Insurance – talk to a professional
Insurance should be an important consideration when planning a Spa or hairdressing salon. The decision to purchase insurance can be a tough one because many new businesses are on a tight budget. The business owner must make decisions regarding what he or she can take a risk on and what to pass on to the insurance company.
At the very least you want to make sure that your personal liability is covered by some form of business insurance because you are offering a service to the public. Ignoring this may cost you everything that you have worked for and earned. Talk to a professional.
There are many conditions and exclusions that are applied to business policies. It is therefore important that you discuss your policy with your insurance adviser to ensure that it meets your needs. Get as many quotes as possible.