Minnesota Cosmetology School Bond Guide
If you are opening a beauty school in Minnesota, you’ll likely need this surety bond.
Bond Overview
- Purpose: To ensure cosmetology schools follow all rules and regulations
- Who Needs It: Cosmetology schools in Minnesota
- Regulating Body: The Minnesota Board of Cosmetology
- Required Coverage: $10,000—$100,000
- Premium Rate: 1–10% based on credit score
What Is a Minnesota Cosmetology School Bond?
A Minnesota cosmetology or beauty school bond ensures that all student contracts are fulfilled by the school.
This bond protects cosmetology students if the school closes unexpectedly or prepaid tuition contracts are broken.
Minnesota Cosmetology School Bond Requirements
All cosmetology schools in Minnesota need a surety bond that covers the greater of 10% of anticipated gross annual income or $10,000.
For example, if you projected $350,000 in total tuition income, you would need a $35,000 surety bond. Or, if you expected $80,000 income, you’d need the minimum $10,000 bond.
How Much Do Beauty School Bonds Cost in Minnesota?
Minnesota cosmetology bonds cost 1–10% of the required coverage amount. Rates vary based on the personal credit score of all owners and the bond amount.
With excellent credit, you could pay just $100 for a $10,000 beauty school bond. Apply now to get your free quote!
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Does a Minnesota Cosmetology School Bond Work?
A Minnesota cosmetology school bond is a financial contract between three parties:
- Principal: You, the school owner(s) filing the bond
- Obligee: The Minnesota Board of Cosmetology requiring the bond
- Surety: The provider issuing the bond
As the principal, you are responsible for:
- Upholding student contracts
- Reimbursing prepaid tuition if the school closes
- Following all state regulations
If not, the surety will pay out claims to harmed parties and you must reimburse the surety.
Who Needs a Cosmetology School Bond?
The Minnesota Board of Cosmetology requires this bond for all beauty schools in the state. This includes schools providing hair, skin, or nail care training and education to prepare students for state licensing in the beauty industry.
If you have multiple school locations or branches, you will need a separate bond for each one.
How Do I Get a Cosmetology School Bond in Minnesota?
SuretyBonds.com provides the fastest and easiest way to get a Minnesota cosmetology school bond. Just follow these quick steps:
- Apply: Submit an online quote request form
- Quote: Receive your quote within one day
- Sign: Complete the indemnity agreement
- Buy: Purchase the bond online 24/7
We’ll mail you the bond via your preferred shipping method. Be sure to file it with the Board of Cosmetology as instructed.
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Fast Can I Get My Bond?
You will receive your bond quote within one day after you submit the online request form. Once you receive your quote you can purchase your bond online anytime.
Depending on the shipping method you select, you will receive your bond within one to five business days.
Can I Get Bonded With Bad Credit?
Yes, you can typically still get a beauty school bond with bad credit. However, keep in mind that credit score can impact your rate. Low credit bonds are typically in the 5–10% range.
How Do I Renew My Cosmetology School Bond?
These bonds expire annually. To renew your beauty school bond, simply pay your renewal invoice when prompted.
We’ll begin contacting you by phone and email 90 days before the expiration date.
How to Open a Cosmetology School in Minnesota
If you’re starting a beauty school in Minnesota, you’ll need to apply for a license with the Board of Cosmetology. Ensure that all requirements are met before submitting your application.
Gather the following materials for your application packet:
- $4,000 new school application fee
- Surety bond form
- Proof of liability insurance and worker’s comp insurance.
- Copies of school advertising and recruitment materials
- Copy of the Student Enrollment Contract
- Copies of all school rules, regulations/policies, and the Student Handbook
- Proof of zoning compliance
- Detailed floor plan of the facility
- School inventory list
- Curriculum information
- Qualifications of all instructors
- Notarized application form
- Optional: Textured Hair Training Affidavit
Submit a completed application and payment to the Board office by mail or in-person at the following address:
Minnesota Board of Cosmetology
1000 University Avenue West
Suite 100
Saint Paul, MN 55104
Once you apply, a physical inspection of the school establishment will be scheduled and conducted by Board staff
Note: The school must be “ready to open” at the time of the inspection.
