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Salon Owners?

I'm doing a salon project for school. Basically need a business plan drawn up and all that. I figured all the monthly expenses except for insurance. What do you pay monthly or yearly for business insurance? What does it include or cover?


Asked by Anonymous at 6:15 PM on Mar. 25, 2010 in Money & Work

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Answers (1)
  • I own a hair salon, a small salon only me & 1 other lady. the only insurance I have is liability ins. which covers the if someone would fall, get hair burnt off etc and it covers the equipment. I have to pay workers comp & unemployment. my unemployment rates usually are 1.5% of total payroll and WC is 300 year. I see you are still in school so i just wanted to let you in on a few other expenses you may not realize. Employers have to match the Medicare & Social security that is deducted from employees. If you plan on taking credit/debit you have to buy or lease the actual machine and they take a % from each transaction and I pay a monthly fee for them to process the $ and deposit it into my account, usually cost me 75/mo. if you need any more help I will do what I can

    Answer by mrsford561 at 8:45 PM on Mar. 25, 2010