Ch.32 The Salon Business

Front 1

When preparing your business plan, it is often helpful to consult with an _________ to prepare your financial documents.

Back 1

Accountant

Front 2

Another name for an individual owner with complete control of a business is:

Back 2

Sole proprietor

Front 3

Supplies used in the daily business operation are considered:

Back 3

Consumption supplies

Front 4

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

Back 4

Retail supplies

Front 5

When planning and constructing the best physical layout for a salon, the primary concern should be:

Back 5

Maximum efficiency

Front 6

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

Back 6

Payroll

Front 7

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

Back 7

Satisfied clients

Front 8

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

Back 8

Goal

Front 9

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

Back 9

Offers easy access

Front 10

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

Back 10

1

Front 11

If you operate your salon in a building that you own, it is recommended that you purchase all BUT which insurance?

Back 11

Renter's insurance

Front 12

Which of these terms refers to your staff or employees?

Back 12

Personnel

Front 13

Human resources covers all BUT:

Back 13

What you should do when you need to increase sales

Front 14

Booking appointments is primarily whose job?

Back 14

The receptionist

Front 15

The first goal of every business should be to:

Back 15

Maintain current clients

Front 16

Which part of a business plan outlines management levels and describes how the business will be run?

Back 16

Organizational Plan

Front 17

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

Back 17

Executive Summary

Front 18

Which part of a business plan includes projected financial statements, actual statements, and financial statement analyses?

Back 18

Financial Documents

Front 19

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

Back 19

Salon Policies

Front 20

Which part of a business plan is a long-term picture of what the business is to become and what it will look like when it gets there?

Back 20

Vision Statement

Front 21

Which part of a business plan outlines all of the research obtained regarding the clients your business will target and their needs, wants and habits?

Back 21

Marketing Plan

Front 22

Which part of a business plan includes the owners' resume, personal financial information, legal contracts and any other agreements?

Back 22

Supporting Documents

Front 23

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

Back 23

Mission Statement

Front 24

An agreement to buy an established salon should include all BUT:

Back 24

An agreement on future maintenance costs

Front 25

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

Back 25

$75-$125