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Milady Chapter 32 The Salon Business Flashcards | StudBud
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Milady Chapter 32 The Salon Business
Milady Chapter 32 The Salon Business
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Salon Business
Flashcards
30 cards
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Practice quiz
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Questions
30
Answers
1
For a cosmetologist who has a large steady clientele and who does not have to rely on the salon
A booth rental
Limited liability company
An S corporation
A franchise
2
Ensures the old clients and employees are treated fairly and consistently
Salon policies
Executive summary
Organizational plan
Financial documents
3
Which of these is considered the best form of advertising for a salon
Television ads
Newspaper ads
Radio spots
Satisfied clients
4
Which of these terms refers to your stuff or employees
Clients
Constituents
Personnel
Creditors
5
An agreement to buy an established Salon does not typically include which of the following
A financial audit
An analysis of future maintenance cost
A signed statement of inventory and its value
Confirmation of the identity of the owner
6
It should always be your top priority to meet which of the following financial obligations
Payroll
Utility bills
Vendor bills
Rent or mortgage
7
Is an essential set of benchmarks that, once achieved, helps you realize your vision
Result
Assignment
Goal
Obligation
8
A long-term picture of what the business is to become and what it will look like
Marketing plan
Mission statement
A vision statement
Salon policies
9
Cost to create even a small Salon in an existing space can range from__ per square foot
$30 to $80
$20 to $35
$75 2 $125
$5 to $15
10
When Gathering accurate financial information for purchasing an existing salon it is helpful to
Interior designer
Architect
Attorney
Certified public accountant
11
a business plan includes the owners resume personal financial information legal contract
Salon policies
Executive summary
Financial documents
Supporting documents
12
It's smooth business management depends on sufficient investment Capital as well as
Minimal computer skills
Personnel with only basic training
Excellent customer service delivery
Adequate business procedures
13
With each call a gracious appropriate response will help built
The salon's reputation
A quiet atmosphere
Teamwork
The salons energy level
14
Which part of a business plan is a description of the key strategic influence of the business
Mission statement
Vision statement
Supporting document
Marketing plan
15
Includes projected financial statements actual statements and financial statement analysis
Financial documents
Organizational plan
Vision statement
Salon policies
16
Outlines all of the research obtain regarding the client's your business will Target
Marketing plan
Executive summary
Financial documents
Organizational plan
17
The first goal of every business should be to
Upgrade equipment
Attract new clients
Maintain current clients
Compensate employees fairly
18
Outlines employees and management levels and describes how the business will be run
Organizational plan
Vision statement
Financial document
Mission statement
19
When choosing a location for your business, you should select one that
Offers easy access
Has limited parking
Has no traffic
Is secluded
20
Another name for an individual owner who determines policies and has the last say in decision-m
Sole proprietor
Business partner
Stockholder
21
Summarizes your plan and States your objectives
Marketing plan
Mission statement
Salon policies
Executive summary
22
Someone who is trained to do everything from recording sales and payroll to generating a profit
A full charge bookkeeper
A manager
A receptionist
A financial director
23
Booking appointments is primarily whose job?
The Cosmetologists
The managerr
The client
The receptionists
24
Supplies purchased by a salon that are to be sold to clients are
Retail supplies
Inventory supplies
Consumer supplies
Consumption supplies
25
When planning and constructing the best physical layout for a salon, the primary concern should
Salon furniture
Color scheme
Salon carpeting
Maximum efficiency
26
Supplies used in Daily Business operations are considered
Consumption supplies
Retail supplies
Consumer supplies
Inventory supplies
27
A business in which a firm that is already successful interest into a continuing relationship
A partnership
Sole proprietorship
A franchise
A corporation
28
If you operate your salon in a building that you own it is not necessary to purchase
Liability insurance
Renters insurance
Burglary insurance
Malpractice insurance
29
What is the minimum number of stockholders allowed for a corporation
Zero
One
Two
Three
30
Human resources does not cover which of the following
What you must do when firing someone
What you cannot say when hiring someone
How you manage your employees
What you should do when you need to increase sales