A Health Studio Surety Bond is one way health studios are regulated. The Florida Health Studio Surety Bond is required of all individuals or health studios, barring an exemption, for a period of five years also encompassing any pre-opening sales. This bond must be posted if the health studio collects fees 30 days in advance, or charges a service fee greater than 10% of the total contract price, or uses a third party to collect dues on behalf of the health studio.
What is the current market for a Health Studio Surety Bond?
Florida Health Studio Surety Bonds are widely written by multiple surety bond markets. The total bond amount for the Florida Health Studio Surety Bond is $50,000. Terms of approval and premium are largely determined by the financial condition of the dance studio's corporate and/or personal net worth and experience.