Chapter 32 The Salon Business

Question 1

The first goal of every business should be to:

Accepted Answer

maintain current clients

Question 2

A written plan that describes a business and foresees projections for the next 5 yrs is a :

Accepted Answer

business plan

Question 3

Which part of the business plan outlines management levels & describes how the business is run?

Accepted Answer

organizational plan

Question 4

A written agreement w/building owner that outlines resposibilities for repairs & expenses is

Accepted Answer

lease

Question 5

In order to have a successful business, a top priority in the allotment of funds is to:

Accepted Answer

meet payroll obligations

Question 6

Typically, salon owners continue to work on hair while they manage their business.

Accepted Answer

true

Question 7

Whenpreparing business plan, it's helpful to consult with an:

Accepted Answer

accountant

Question 8

Which part of a business plan ensures that all clients & employees are treated fairly ?

Accepted Answer

salon policies

Question 9

Information about a specific population.

Accepted Answer

demographics

Question 10

In planning & constructing the physical layout of a salon, it should be designed for:

Accepted Answer

maximum efficiency

Question 11

Which part of a business plan is a long-term picture of what the business is to become ?

Accepted Answer

vision statement

Question 12

An agreement to buy an established salon should include all BUT which of the following?

Accepted Answer

an agreement on future maintenance costs

Question 13

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

Accepted Answer

offers easy access

Question 14

Federal agency that requires the ingredients of cosmetic preparations be available to employees

Accepted Answer

OSHA

Question 15

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

Accepted Answer

$75 - &125

Question 16

Which of these is considered the very best form of advertising for a salon?

Accepted Answer

satisfied clients

Question 17

Staff or employees.

Accepted Answer

personnel

Question 18

Supplies that are used & replaced in the daily business operation are identified as:

Accepted Answer

consumption supplies

Question 19

One of the best ways for a business owner to protect personal assets is:

Accepted Answer

incorporating

Question 20

Supplies purchased by a salon with the intention of selling these products to clients are:

Accepted Answer

retail supplies

Question 21

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

Accepted Answer

1

Question 22

A stockholder of a corporation is required to pay unemployment insurance taxes on:

Accepted Answer

salary

Question 23

It should always be your top priority to meet which of these financial obligations?

Accepted Answer

payroll

Question 24

Which part of the business plan outlines all of the research obtained regarding the clients?

Accepted Answer

supporting documents

Question 25

In addition to start-up costs, you'll need financing for operational expenses to create a salon

Accepted Answer

true

Question 26

A(n) ???? is a benchmark that, once achieved, helps yu realize your mission and your vision.

Accepted Answer

goal

Question 27

Newspaper or radio ads and charitable events are all forms of

Accepted Answer

advertising

Question 28

Which part of a business plan summarizes you plan and states your objectives?

Accepted Answer

executive summary

Question 29

When opening a new business, the location selected should reflect your:

Accepted Answer

primary clientele

Question 30

One reason for entering into a partnership agreement is to have:

Accepted Answer

capital for investments

Question 31

A business plan is a legally binding document.

Accepted Answer

false

Question 32

Which part of a business plan is a description of the key stategic influences of the business?

Accepted Answer

mission statement

Question 33

Good business operations require a simple and efficient:

Accepted Answer

record system

Question 34

Money to invest in a business.

Accepted Answer

capital

Question 35

An executive summary is a long-term pic of what the business will become and look like .

Accepted Answer

false

Question 36

A salon that is owned and operated by an individual is referred to as a:

Accepted Answer

sole proprietorship

Question 37

Human resources covers all BUT which of the following concerns?

Accepted Answer

what you should do when yu need to increase sales

Question 38

The important job of booking appointments & greeting clients is the responsiblility of

Accepted Answer

receptionist

Question 39

Which part of a business plan includes projected financial & actual statements ?

Accepted Answer

financial documents

Question 40

If you operate a salon in a building you should purchase all BUT which of these insurances?

Accepted Answer

renter's insurance

Chapter 32 The Salon Business

Questions 40

Chapter 32 The Salon Business

Questions 40