For how long does the insurance estimate cover the premiums for a My Salon Suite franchise?
My_Salon_Suite Franchise · 2025 FDDAnswer from 2025 FDD Document
istrations, legal, and accounting expenses for your start-up period.
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- Operating Supplies. You will need to purchase an initial inventory of cleaning supplies and other operating supplies.
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- Insurance. You must obtain, before beginning construction and maintain throughout the term of the Franchise Agreement, comprehensive general liability with primary and excess limits of not less than $2,000,000, motor vehicle liability with primary and excess limits of not less than $1,000,000, and professional liability insurance with primary and excess limits of not less than $1,000,000 to $2,000,000. The amounts shown reflect deposits and premiums payable for up to the first 3-month period. Premiums may vary based
Source: Item 7 — ESTIMATED INITIAL INVESTMENT (FDD pages 29–35)
What This Means (2025 FDD)
According to the 2025 My Salon Suite Franchise Disclosure Document, the estimated initial investment for insurance covers the first three months of operation. The FDD specifies that the listed amounts for insurance reflect deposits and premiums payable for up to the first 3-month period.
Prospective franchisees should note that this is just an initial estimate. The actual premiums may vary depending on the insurance provider, the location of the premises, local laws, and other factors. My Salon Suite recommends consulting with an insurance agent to determine the appropriate coverage amount for the specific business operation.
After the initial 3-month period, franchisees will be responsible for covering ongoing insurance costs. It is important to factor these continuing expenses into the overall financial planning for the franchise. The FDD also lists the required insurance coverage, including comprehensive general liability with limits of not less than $2,000,000, motor vehicle liability with limits of not less than $1,000,000, and professional liability insurance with limits ranging from $1,000,000 to $2,000,000.