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The salon business
The salon business
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Questions
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Answers
1
Which part of a business plan summarizes your plan and states your objectives
Mission statement
Salon policies
Executive summary
Marketing plan
2
Which of these is considered the very best form of advertising for a salon?
Newspaper ads
Satisfied clients
Television ads
Radio spots
3
Booking appointments is primarily whose job?
Clients
Receptionist
Managers
Cosmetologist
4
When gathering accurate financial info for purchasing an existing salon it’s often helpful to consult with a(n)
Architect
Interior designer
Certified public accountant
Attorney
5
Smooth business management depends on sufficient investment capital as well as
Minimal computer skills
Adequate business procedures
Personnel with only basic training
Excellent customer service delivery
6
Business plan that is a long-term picture of what business is to become/what it’ll look like when it gets there
Marketing plan
Mission statement
Vision statement
Salon policies
7
Business plan outlines employee/management levels and describes how the business will be run administratively
Mission statement
Financial documents
Organizational plan
Vision statement
8
In agreement to buy an established salon does not typically include which of the following
Confirmation of the identity of the owner
A financial audit
A signed statement of inventory and its value
An analysis of future maintenance costs
9
Part of business plan includes projected financial statements actual statements and financial statement analysis
Vision statement
Financial documents
Salon policies
Organizational plan
10
The first goal of every business should be to
Maintain current clients
Upgrade existing equipment
Attract new clients
Compensate employees fairly
11
With each call, a gracious, appropriate response will help build
A quiet atmosphere
Salons energy level
Teamwork
The salons reputation
12
What is the maximum number of stockholders allowed for a corporation to exist
One
Zero
Two
Three
13
Supplies used in the daily business operation are considered
Consumption supplies
Inventory supplies
Retail supplies
Consumer supplies
14
Someone who is trained to do everything from recording sales/payroll to generating a profit and loss statement
A full charge bookkeeper
A receptionist
A manager
A financial director
15
Another name for an individual owner who determines policies and has the last say in decision making is a
Manager
Sole proprietor
Stockholder
Business partner
16
___ is an essential set of benchmarks that, once achieved, helps you realize your mission and your vision
Result
Assignment
Goal
Obligation
17
Supplies purchased by salon that are to be sold to clients are
Consumption supplies
Retail supplies
Client supplies
Inventory supplies
18
Business plan outlines all research obtained regarding clients business will target/their needs wants and habits
Organizational plan
Financial documents
Executive summary
Marketing plan
19
Which part of a business plan ensures that all clients/employees are treated fairly/consistently
Financial documents
Salon policies
Executive summary
Organizational plan
20
When choosing a location for your business, you should select one that
Has low traffic
Has limited parking
Is secluded
Offers easy access
21
Which of these terms refers to your staff or employees?
Creditors
Personnel
Clients
Constituents
22
Business plan with owners résumé, personal financial info, legal contracts and any other agreements
Supporting documents
Salon policies
Financial documents
Executive summary
23
If you operate a salon building of your own it’s not necessary to purchase which type of insurance
Burglary insurance
Malpractice insurance
Liability insurance
Renters insurance
24
Cost to create even a small salon in an existing space can range from __ Per square foot
$20 to $35
$5 to $15
$75 to $125
$30 to $80
25
When planning/constructing the best physical layout for a salon, the primary concern should be
Salon carpeting
Salon furniture
Maximum efficiency
Color scheme
26
Human resources does not cover which of the following concerns?
What you can/cannot say when hiring someone
How you manage your employees
What you must do when firing someone
What you should do when you need to increase sales
27
Which part of a business plan is a description of the key strategic influences of the business?
Supporting documents
Mission statement
Vision statement
Marketing plan
28
a cosmo who has a large/steady clientele&doesnt rely on salons clientele to keep busy, _ may be a desirable situation
A limited liability company
Franchise
An S Corporation
Booth rental
29
business in which a firm that’s already successful enters into a continuing contractual relationship w businesses
A corporation
A partnership
a sole proprietorship
A franchise
30
It should always be your top priority to meet which of the following financial obligations?
Rent or mortgage
Payroll
Vendor bills
Utility bills