Health Studio Surety Bond
Health studios (gyms, fitness centers, and similar businesses) that sell contracts for health studio services and collect fees more than 30 days in advance, use a third party to collect fees, or charge a service fee greater than 10% of the total contract price. Required when: Registration as a health studio with the F…
Essential point: Pin down whether this is your bond, then start the application. Ava can confirm the right state and license type if you are not sure.
Amounts can vary
Selected requirement: $25,000. Other available requirements: "The standard bond amount is $25,000 per business location. If the health studio provides evidence that the aggregate dollar amount of all current outstanding contracts is less than $5,000, the department may reduce the principal amount to…. Exact options still depend on the obligee, state, and underwriting.
