AmeriPro Surety Bonds offers this article regarding the availability of surety bonds for the following types of schools: Cosmetology, barbering, esthetics, and manicuring.
This article refers to the establishment of these institutions of learning for students. This article does not address the requirements any students may have who attend one of these schools.
For brevity’s sake, this article will refer to these collectively as “beauty schools”.
Washington State has a number of requirements to begin a beauty school.
Such schools collectively are governed by the Department of Licensing, Cosmetology Program.
The first thing applicants will need to found a beauty school in Washington State is to complete a “Business License Application,” and acquire a Unified Business Identifier (UBI) number.
The applicant will also need to pay a fee to the Department of Licensing. If this is the first application for a beauty school license, the fee is $300.00.
Applicants who are founding any of the following types of schools in Washington State:
Will need to purchase a surety bond.
The amount of the Washington State beauty school surety bond is as follows:
It is a minimum amount of $10,000.00, or;
10% of the annual gross tuition paid to the school,
Whichever amount is greater.
The maximum dollar amount for the surety bond, however, will not exceed $50,000.
While the face amount of the surety bond will be anywhere between $10,000 to $50,000 depending on the criteria stated above, you of course will only pay a fraction of that amount.
The amount paid (the premium for the cosmetology bond) will depend on two factors:
1. The face amount of the Washington State cosmetology bond (for example, a $20,000 cosmetology bond), and;
2. Your credit score.
Applicants with optimal credit scores may pay as little as 1-5% for this bond.
A surety bond-only agency, AmeriPro Surety Bonds offers court, contract, commercial, and fiduciary surety bonds for all 50 states.