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Thread: Health Club

  1. chefman
    chefman is offline Member
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    May 2007
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    Health Club

    I want to open up a gym in my city. I was told I need a 50,000 bond in place prior to applying for my business license. Will this bond protect me from personal injury that may occur to people while using my facility?
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  2. Admin
    Admin is offline Administrator
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    No, that is what insurance is for. The bond guarantees that you will operate accordingly with the rules and regulations of the state and in no way protects you. If there is a claim the surety will look to you for payment of it.

    Typcially, health club bonds are only required when a club decides to collect dues up front. However, it does vary from state to state, so it is best to check the bond language to see exactly what it is guaranteeing.
    Surety Bond Articles
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  3. chefman
    chefman is offline Member
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    Up front payment

    The bond I am needing is for an upfront payment of yearly dues. I also am offering a lifetime mebership that will be paid up front.
    I am assuming the bond is to cover the client in case I close my doors?
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  4. Surety Insider
    Surety Insider is offline Surety Claims Expert
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    Example....

    Former health club members will get refunds
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