stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Chapter 21 Milady Barbering Flashcards | StudBud
Explore
/
Chapter 21 Milady Barbering
Chapter 21 Milady Barbering
31 terms
·
StudBud Administration
·
154 plays
Imported from external platform
Flashcards
31 cards
F
Practice quiz
P
Host live
L
Questions
31
Answers
1
When physically laying out a barbershop, what should be your primary concern?
Maximum efficiency
Sufficient electability
Handicap-accessibility
Decoratin
2
You can hire an unlicensed person to do your business accounting.
False
True
3
What part of a business plan outlines employees and management levels?
Mission statement
Barbershop policies
Organizational plan
Executive summary
4
Explain Barbershop operation:
processes or activities in running a business for income and value
processes or activities in running a business for value
processes or activities in running a business for income
processes or activities in running a business for friends/family
5
One reason for going into a partnership arrangement is to______________.
have help running your operation
have a known name and brand recognition
maintain a corporate status
have the last say in decision making
6
The term _________encompasses promotional efforts paid for and directly intended to increase business.
Communication
Advertising
Referral
Upwelling
7
Who should comply with federal regulations?
Business regulations and law methods
Business regulations and laws
Business regulators and laws
Business, local ,state regulations and laws
8
demographics isn’t important
True
False
9
A BUSINESS PLAN SHOULD INCLUDE:
ALL OF THE ABOVE
Marketing plan –Financial and supporting documents –Barbershop policies
Mission statement –Organizational plan
Executive summary –Vision statement
10
How long does it take for most new shops to begin operating at full capacity
6 Months
3months
1 year
2yrs
11
___________ guarantees protection against financial loss from malpractice, property liability, fire, burglary,theft
Business law and regulation
OSHA
Lawyers
Insurance
12
What is a Vision statement?
Long term goals, what it is become and what it’ll look like
Whatever i think it is? It’s right!
guide to actions of organization
Essential set of benchmarks
13
Keep a running inventory of all supplies, and classify them according to their______________.
Cost
Brand name
Use and retail value
Frequency of use
14
Which of the following would be considered a supporting document to a business plan?
Projected financial statements
Financial statement analysis
Financial statement analysis
Owner's resume
15
Supplies that are used in the daily business operation are ________ supplies.
Merchandise
Consumption
Service
Retail
16
In what state is booth rental not allowed at all?
Georgia
NewYork
Pennsylvania
Florida
17
A Sole proprietor owes what percent of the business:
50%
100%
75%
1%
18
What is a Mission statement?
Guide to actions of organization
long-term goals for business, what it is to come
long-term goals for business
Essential set of benchmarks
19
Someone who is trained to record sales and payroll to generating a profit-and-loss statement
Full charge bookkeeper
Accountant
Stockholder
20
In a barbershop, which of the following is considered its nerve center?
Break room
Shampoo area
Reception area
Both spaces
21
You should make it your top priority to____________.
Schedule of employee evaluations
Meet your payroll obligation
put your entire pay plan in writing
Creating tipping policy
22
Business plan is a written description of your business as you see it today and in next 5 years
True
False
23
Creating your brand identity is essential for building a unique, successful business because:
May provide different selection of service that others don’t
All of the above
You are different
It’s all about you/ your brand
24
It cost a lot of money to advertise?
False
True
25
Explain record keeping.
To inform my spouse on how i spend money
complete records of all financial activities
accurate records of all financial activities
accurate and complete records of all financial activities
26
EXPLAIN CAPITAL.
Money to invest in a HEART OF GOLD.
money to invest in MY business
Money to invest in a VISION
Money to invest in a business
27
What business time period would be appropriate for adding more locations or expanding the scope of the business?
Years 5 to 10
Years 1 to 3
Years 11 to 20
Years 12 to 5
28
Written agreements are govern the opening of a employee contracts
False
True
29
A PARTNER SHIP HAS :
1 PARTNER
1-4 PARTNERS
2 OR MORE
1-3 PARTNERS
30
What are the first steps in opening your own barbershop?
I don’t care, ill be working for someone
A & C
Products, Marketing, Promotions
Best method and philosophy of running a business
31
IF SUED AS A SOLE PROPRIETOR, YOU CAN LOOSE EVERYTHING.
False
True
