Creating a comfortable, fun environment in your salon is the key to getting and maintaining clientele. So, the savvy salon owner is always looking for ways to set themselves apart from the pack. Will a new coat of paint on the walls do it, or do you need to add services to enhance the guest experience? There are many directions, and not all of them are right for everyone.
It’s important to keep your specialized insurance agent informed of any change you make at your salon.
We all know that we shouldn’t judge a book by its cover, but a positive first impression can only be a good thing. Keeping the salon fresh and modern is certainly important, and to someone walking by, a clean and cheery atmosphere is more enticing than one that is dark or crowded. Do you have adequate seating in the waiting area? If you have retail items for sale, are they displayed in a manner that invites browsing? The “fix” might be as simple as addressing some of these areas.
But, if you do decide that a remodel is in order, be sure to speak with your landlord to ensure that you are compliant with your lease. Only hire contractors who are licensed and insured and request proof of both. Remember to get confirmation of current coverage from your insurance agent in case anything happens during the remodel. At the very least, you will probably need to increase your property coverage to keep pace with the improvements you are making.
You might decide to go the route of new services or equipment. There are often costs involved with adding these, and not just the cost of the equipment. Again, contact your insurance agent to determine how you need to adjust your policy to protect your new investments. If your policy is written on a replacement cost basis, even your existing equipment needs to be insured for the amount it would take to purchase it new. Adding brand new equipment without changing your property limits might cause co-insurance penalties in the event of a loss.
Make sure any new services you add are covered by your insurance. Many services are being offered in tanning facilities that were not in place when policies were developed. Laser services, nutritional supplements and fitness products are all commonly seen in salons, but your current coverage may not be structured to anticipate the exposure these services create. You may need to add specific coverage to your current policy or even purchase additional coverage. Every policy is a little different, so it is best to confirm that coverage is in place or know that additional coverage might be needed.
It is important to be proactive and keep your specialized insurance agent informed of your operations. When you keep your policy updated as changes occur, it will help ensure that exclusions or penalties don’t apply. The worst call to make is the one to your insurance agent after an incident happens and you find out you’re not covered. ■
Jenny is Vice President of Universal Insurance Programs, based in Phoenix, AZ. She works with new and existing salon owners to determine and provide insurance coverage for their unique business models. Contact Jenny with any questions regarding your insurance at 800.844.2101 x1480 or email firstname.lastname@example.org.
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