Chapter 32 -The Salon Business

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

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

18. When you are purchasing an existing salon and there is a transfer of a mortgage, the _____ should initiate an invest

7. If your company sets up an agreement with Awesome Salon to open your own salon that operates under the Awesome Salon

15. Which part of a salon is considered the nerve center?

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

21. A mission statement does NOT:

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

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

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

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

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

22. Money to invest in a business is called:

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

32. The rules/regulations adopted by a salon to ensure that all clients/workers are treated fairly all the time:

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

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

11. When using the telephone, you should NOT:

4. When operating your own salon, you should:

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

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

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

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

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

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

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

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

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

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

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

13. The best form of advertising is:

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

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

40. For the booth renter, Social Security taxes are:

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

43. f you choose to buy an established salon, you should seek professional assistance from a(n):

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

41. Supplies that are used in the daily business operation are:

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

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

38. In a corporation, you:

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

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

20. The key duty of the receptionist is: