Closing business advice

#1
Hi, I’ve decided to close my “very small” home based nail business. Therefore I don’t want to renew my insurance. However I still have a client/friend who I would continue with but she wants to continue paying. Can I accept the payment????? I would presume that if I accept payment I am liable. Sorry to sound a bit dim.
 

perfect10kb

Well-Known Member
#2
I am afraid I don't know the answer to this but my question would be if you have decided to close (i sorry about that ) why bother disrupting you whole day just for one client every 3 weeks or so not to mention you are going to have to keep on purchasing product just for her . More trouble that its worth if you ask me :)
 

#3
I am afraid I don't know the answer to this but my question would be if you have decided to close (i sorry about that ) why bother disrupting you whole day just for one client every 3 weeks or so not to mention you are going to have to keep on purchasing product just for her . More trouble that its worth if you ask me :)
I have products to get through and to be perfectly honest she’s now classed as a friend. I would still be doing my own nails too.
 

CFBS

Well-Known Member
#4
How much is your insurance per year and how much would she pay you per set?
 

Trinity

Brush Slayer Geek
#5
I'll play devils advocate......technicially there is no legal requirement to be insured to work on clients, however, it's pretty amazing how fast relationships disolve when things go wrong. You may class her as a friend now but if she developed an allergy and couldn't work, some 'no win, no fee' lawyer tells her she has a claim against you for her loss of earnings and bang! she ain't a friend anymore! What if you spilled acetone on her favourite new £150 boots and ruin them, would she still be a friend then?

Personally I wouldn't touch a client without insurance in place but I'm fairly risk adverse. In the grand scheme of things Nail insurance is not expensive.

Lets do some guestimates - if she comes to you every 3 weeks for a year that's roughly 17 times. If you charge her £25 per rebalance that's £425 in takings, a years insurance is probably 10% of that. No brainer for me
 

#6
I'll play devils advocate......technicially there is no legal requirement to be insured to work on clients, however, it's pretty amazing how fast relationships disolve when things go wrong. You may class her as a friend now but if she developed an allergy and couldn't work, some 'no win, no fee' lawyer tells her she has a claim against you for her loss of earnings and bang! she ain't a friend anymore! What if you spilled acetone on her favourite new £150 boots and ruin them, would she still be a friend then?

Personally I wouldn't touch a client without insurance in place but I'm fairly risk adverse. In the grand scheme of things Nail insurance is not expensive.

Lets do some guestimates - if she comes to you every 3 weeks for a year that's roughly 17 times. If you charge her £25 per rebalance that's £425 in takings, a years insurance is probably 10% of that. No brainer for me
Yep. Very good point.
 
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