Chapter 32 The Salon Business

Supplies that are purchased to be sold to clients

One reason for going into a partnership arrangement

It takes most new salons about this long to begin operating at full capacity

In the allotment of funds, this should be the top priority

A benchmark that, once achieved, helps you realize your mission and your vision.

Number of visits it typically takes for a new client to become a loyal current client

The rules and regulations adopted by a salon to ensure that all clients and associates are treated fairly and consistent

On a business timeline, expansion of services and locations would take place between what years of operation

What is NOT a salon financial success depends in large part

For the booth renter, social security taxes are this percent higher for the employees

A person who purchases shares in a corporation

A business structure in which two or more people share ownership

Someone who is trained to do everything from recording sales and payroll to generating a profit-and loss- statement

The business plan should include projected income and overhead expenses for a period of how many years?

A written description of your business as you see it today and as you foresee it in the next 5 years.

Unless you are at least this percent booked all the time, it may not be advantageous to rent a booth.

When operating your own salon, you should always do this when dealing with rules

You need clients’ permission before using their images on social media to promote your salon

Part of a salon is considered the nerve center

Business calls to clients and suppliers should be made in what area of the salon.

Your largest expense when operating a salon

The key duty of the receptionist

Ownership where you incur more costs setting up the business than you would setting up a partnership

Supplies that are used in the daily business operation

A long term picture of what the business will become and what it will look like when it gets there.

The primary concern when planning the physical layout of your salon

Best form of advertising

When you operate under the set guidance of a company and must adhere to a contract with many stipulation

If you choose to buy an established salon, this is who you should seek professional assistance from

What is NOT a factor for smooth business management

Records that are used to note client personal and contact information and preferences

When interviewing potential employees, you should always look for people who have a

The type of owner who assumes expenses, receives profits, and bears all losses of the business

Who should initiate an investigation to determine whether there are defaults in the payment of debt.

When leasing to rent a building for your salon, you should have agreement stating that the landlord will pays insurance

A mission statement lists the company’s specific rules or regulations

Cost to create even a small salon in an existing space

Should be included in the Supporting Documents section of a business plan

Money to invest in a business

Part of a business plan where you have your administrative plans for your business

When creating your brand identity, you should NOT ask this

Part of a business plan where you should state your objective

Type of insurance that you do NOT need for your salon

Agency that requires that information about ingredients of cosmetic preparations be available to employees