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Chapter 10F The Beauty of Business Flashcards | StudBud
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Chapter 10F The Beauty of Business
Chapter 10F The Beauty of Business
27 terms
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StudBud Administration
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34 plays
Milady Standards Foundation CIMA
Flashcards
27 cards
F
Practice quiz
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Host live
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Questions
27
Answers
1
Marketing is the means for ______.
selling and promoting your business
designing your salon, spa, or barbershop space
keeping your clientele satisfied
recruiting and hiring your staff
2
Which of the following is built into most booth rental agreements?
self-sufficiency
paid vacations
healthcare benefits
free advertising
3
Which BEST encapsulates promotional efforts that are paid for and that are directly intended to increase business?
social media usage
advertising
viral marketing
word-of-mouth
4
Why is it important to have keen business knowledge in the beauty industry?
because entrepreneurship is an essential part of this career
because it serves you well in managing your professional business finances
because renting a booth is the same as owning your own business
because you must become a business owner in this career
5
Which of the following is the MOST important reason to create incentives in the form of money/prizes for your employees?
Incentives can be in lieu of regular pay.
Incentives are appreciated by employees and clientele alike.
Incentives can inspire employees to achieve more.
Incentives are a tax write-off.
6
Which of the following is the MOST important question to ask yourself when creating your brand identity?
Which employees should I hire?
What is my business’s point of difference?
Who are my potential customers?
What will my profits be in year one?
7
What does adding services and retail sales to your service tickets mean for your business?
additional revenue
additional risk
additional advertising
additional clientele
8
his vision statement
It protects your staff against compensation loss for sick days.
It protects you against malpractice suits.
It protects your clientele against falls and accidents.
It protects the general public against auto mishaps in front of your store.
9
When you work on your financial document, supporting documents and executive summary, what are you preparing?
his mission statement
his business plan
his vision statement
his organizational plan
10
A realistic benchmark for the net profit of a salon, spa, or barbershop is _
75%
50%
15%
5%
11
An outline of employee and management levels & responsibilities and how to perform business according to the outline is
an executive summary
an organizational plan
a marketing plan
a mission statment
12
The key duty of receptionists is ______.
booking appointments
assisting stylists with their work
greeting clientele at the door
answering the phone
13
How long is it MOST likely to take to determine and complete all of the aspects of starting your business?
1 month
10 years
1 year
6 months
14
Your personnel is your ______.
customer base
clientele
staff
competition
15
What is the main concern when planning and constructing the best physical layout for the type of business you envision?
maximum profitability
stylistic aesthetics
maximum efficiency
your competitor’s layout
16
Which of the following is the BEST vehicle for others to promote you and your business via viral marketing?
social media
face-to-face word of mouth
television
email
17
Which is an essential set of benchmarks that, once achieved, helps you to realize your mission and your vision?
goals
statements
objectives
policies
18
If you are an owner of a salon, spa, or barbershop, which of the following is TRUE?
There is no guarantee of any profits.
You are guaranteed to have small profits.
You are guaranteed to have losses.
You are guaranteed to have large profits.
19
The modern version of word of mouth is ______.
billboard marketing
viral marketing
television marketing
radio spots
20
Which of the following will be LEAST important in becoming a successful entrepreneur?
maintaining loyalty of clients over a long period of time
attracting employees to your business
paying employees a salary instead of a commission
attracting clients to your business
21
The only way to guarantee that you will stay in business is to ______.
advertise
take care of your clients
research emerging trends
pay yourself well
22
If you are interested in booth rental, which of the following states should you NOT move to?
California
New York
Florida
Pennsylvania
23
Which of the following is NOT one of the top three ways that clients find a service provider?
a convenient location
recommendations or referrals
advertisements
dissatisfaction with another service provider
24
What would be the best reason for an employer to hire a beauty professional for their salon/spa?
The beauty pro has been in the industry much less than most candidates
The beauty pro matched the image to their salon
The beauty pro background is more focused on technical skilld
The beauty pro responded to most of their questions
25
Which part of your business plan should outline all of the research obtained regarding the targeted clients?
organizational plan
marketing plan
vision statement
mission statement
26
Which of the following is MOST likely to raise capital by offering shares of stock to stockholders?
a sole proprietorship
a corporation
a single franchise
a partnership
27
Which part of your business plan should include a description of how the business will run administratively?
organizational plan
vision statement
marketing plan
mission statement
