MILADY Chapter 32 The Salon Business

Question 1

a(n) _____ is an essential set of benchmarks that, once achieved, helps you realize your mission and your vision

Accepted Answer

goal

Question 2

when gathering accurate financial information for purchasing an existing salon, it is often helpful to consult with a(n)

Accepted Answer

certified public accountant

Question 3

smooth business management depends on sufficient investment capital as well as

Accepted Answer

excellent customer service delivery

Question 4

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

Accepted Answer

a full-charge bookkeeper

Question 5

supplies used in the daily business operation are considered

Accepted Answer

consumption supplies

Question 6

which part of a business plan is a description of the key strategic influences of the business

Accepted Answer

mission statement

Question 7

if you operate your salon in a building that you own, it is not necessary to purchase which types of insurance

Accepted Answer

renters insurance

Question 8

which part of a business plan ensures that all clients and employees are treated fairly and consistently

Accepted Answer

salon policies

Question 9

Human Resources does not cover which of the following concerns

Accepted Answer

what your should do when you need to increase sales

Question 10

which part of a business plan outlines employees&management levels&describes how the business will run administratively

Accepted Answer

organizational plan

Question 11

with each call, a gracious, appropriate response will help build

Accepted Answer

the salons reputation

Question 12

which of these terms refers to your staff or employees

Accepted Answer

personnel

Question 13

which if these is considered the very best form of advertising for a salon

Accepted Answer

satisfied clients

Question 14

which part of a business plan outlines all of the research obtained regarding the clients your business will target

Accepted Answer

marketing plan

Question 15

booking appointments is primarily whose job

Accepted Answer

the receptionist

Question 16

when planning and constructing the best physical layout for a salon, the primary concern should be

Accepted Answer

maximum efficiency

Question 17

the first goal of every business should be to

Accepted Answer

maintain current clients

Question 18

it should always be your top priority to meet which of the following financial obligations

Accepted Answer

payroll

Question 19

which part of a business plan summarizes your plan and states your objectives

Accepted Answer

executive summary

Question 20

another name for an individual owner who determines policies and has the last say in decision making is a

Accepted Answer

sole proprietor

Question 21

which part of a business plan includes projected financial statements, actual statements& financial statements analyses

Accepted Answer

financial documents

Question 22

what is the minimum number of stockholders allowed for a corporation to exist

Accepted Answer

one

Question 23

when choosing a location for your business, you should select one that

Accepted Answer

offers easy access

Question 24

which part of a business plan includes the owners resume personal financial information, any other agreements

Accepted Answer

supporting documents

Question 25

costs to create even a small salon in existing space can range from _______ per square foot

Accepted Answer

$75 to $125

Question 26

for a cosmetologist who has a large clientele & does not need the salons general clientele to keep busy_____ may be good

Accepted Answer

booth rental

Question 27

an agreement to buy an established salon does not typically include which of the following

Accepted Answer

an analysis of future maintenance costs

Question 28

a form of business in which a firm that is already successful enters into a continuing contractual relationship

Accepted Answer

a franchise

Question 29

supplies purchased by a salon that are to be sold to clients are

Accepted Answer

retail supplies

Question 30

which part of a business plan is a long term picture of what the business is to become

Accepted Answer

vision statement

MILADY Chapter 32 The Salon Business

Questions 30

MILADY Chapter 32 The Salon Business

Questions 30