Chp. 32: The Salon Business MINDTAP

When operating your own salon, you should:​

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

A _____ is a benchmark that, once achieved, helps you to realize your mission and your vision.

A mission statement does NOT:​

A business structure in which two or more people share ownership is a:

Which agency requires that information about ingredients of cosmetic preparations be available to employees?

A long-term picture of what the business will become and what it will look like when it gets there is a:

​Costs to create even a small salon in an existing space can range from _____ per square foot.

In the allotment of funds, the top priority should be to meet your _____ obligations.

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

If you purchase shares in a corporation, you are a:

​If you choose to buy an established salon, you should seek professional assistance from a(n):

A _____ is someone who is trained to do everything from recording sales and payroll to generating a profit-and-loss stat

Money to invest in a business is called:

The business plan should include projected income and overhead expenses for a period of:

When operating a salon, your largest expense each month will be your:

The best form of advertising is:

​When using the telephone, you should NOT:

In what part of a business plan should you state your objectives?

​The key duty of the receptionist is:

​When using social media to promote the salon, you should:

Administrative plans for your business are found in which part of a business plan?

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

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

​In a corporation, you:

Supplies that are purchased to be sold to clients are called:

You do NOT need which type of insurance for your salon?

A _____ is a written description of your business as you see it today and as you foresee it in the next five years.

It takes most new salons about _____ to begin operating at full capacity.

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

When purchasing an existing salon and there is a transfer of mortgage, the ___ should initiate an investigation.

If your company sets up an agreement with Awesome Salon to open a salon under the Awesome Salon name, it is considered a

The primary concern when planning the physical layout of your salon should be:

A salon's financial success depends in large part on all of the following EXCEPT:​

Supplies that are used in the daily business operation are:

Smooth business management depends on all of the following factors EXCEPT:

Which part of a salon is considered the nerve center?

When creating your brand identity, you should ask each of the following questions, EXCEPT:

How many visits does it typically take for a new client to become a loyal current client?​

For the booth renter, Social Security taxes are:

When drawing up a lease to rent a building for your salon, you should secure all of the following EXCEPT an:

​Which of the following should be included in the Supporting Documents section of a business plan?

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

One reason for going into a partnership arrangement is to have: