Cosmetology: Chapter 32: The Salon Business Part 1
This flashcard deck covers key concepts from Chapter 32 of a cosmetology course, focusing on the salon business. It includes definitions, business structures, financial priorities, and elements of a business plan.
Another name for an individual owner with complete control of a business is:
A. Business partner
B. Stockholder
C. Sole proprietor
D. Manager
C. Sole proprietor
Key Terms
Another name for an individual owner with complete control of a business is:
A. Business partner
B. Stockholder
C. Sole proprietor
D. Manager
C. Sole proprietor
Supplies used in the daily business operation are considered:
A. Retail supplies
B. Consumption supplies
C. Consumer supplies
D. Inventory supplies
B. Consumption supplies
Supplies purchased by a salon with the intention of selling these products to clients are:
A. Retail supplies
B. Consumption supplies
C. Inventory supplies
D. Client supplies
A. Retail supplies
When planning and constructing the best physical layout for a salon, the primary concern should be:
A. Color scheme
B. Salon furniture
C. Salon carpeting
D. Maximum efficiency
D. Maximum efficiency
It should always be your top priority to meet which of these financial obligations?
A. Utility bills
B. Vendor bills
C. Payroll
D. Rent or mortgage
C. Payroll
Which of these is considered the very best form of advertising for a salon?
A. Radio spots
B. Satisfied clients
C. Television ads
D. Newspaper ads
B. Satisfied clients
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| Term | Definition |
|---|---|
Another name for an individual owner with complete control of a business is: A. Business partner B. Stockholder C. Sole proprietor D. Manager | C. Sole proprietor |
Supplies used in the daily business operation are considered: A. Retail supplies B. Consumption supplies C. Consumer supplies D. Inventory supplies | B. Consumption supplies |
Supplies purchased by a salon with the intention of selling these products to clients are: A. Retail supplies B. Consumption supplies C. Inventory supplies D. Client supplies | A. Retail supplies |
When planning and constructing the best physical layout for a salon, the primary concern should be: A. Color scheme B. Salon furniture C. Salon carpeting D. Maximum efficiency | D. Maximum efficiency |
It should always be your top priority to meet which of these financial obligations? A. Utility bills B. Vendor bills C. Payroll D. Rent or mortgage | C. Payroll |
Which of these is considered the very best form of advertising for a salon? A. Radio spots B. Satisfied clients C. Television ads D. Newspaper ads | B. Satisfied clients |
A(n) __________ is a benchmark that, once achieved, helps you realize your mission and your vision. A. Assignment B. Result C. Obligation D. Goal | D. Goal |
When choosing a location for your business, you should select one that: A. Offers easy access B. Has limited parking C. Is secluded D. Has low traffic | A. Offers easy access |
What is the minimum number of stockholders allowed for a corporation to exist? A. 0 B. 1 C. 2 D. 3 | B. 1 |
If you operate your salon in a building that you own, it is recommended that you purchase all BUT which of these types of insurance? A. Liability insurance B. Malpractice insurance C. Renters insurance D. Burglary insurance | C. Renters insurance |
Which of these terms refers to you staff or employees? A. Personnel B. Constituents C. Clients D. Creditors | A. Personnel |
Human resources covers all BUT which of the following concerns? A. What you can and cannot say when hiring someone B. What you must do when firing someone C. What you should do when you need to increase sales D. How you manage your employees | C. What you should do when you need to increase sales |
Booking appointments is primarily whose job? A. The cosmetologist B. The client C. The manager D. The receptionist | D. The receptionist |
The first goal of every business should be to: A. Maintain current clients B. Attract new clients C. Compensate employees fairly D. Upgrading existing equipment | A. Maintain current clients |
When preparing your business plan, it is helpful to consult with an __________ to prepare your financial documents. A. Interior designer B. Attorney C. Architect D. Accountant | D. Accountant |
Which part of a business plan outlines management levels and describes how the business will be run? a. financial documents b. organizational plan c. vision statement d. mission statement | b. organizational plan |
Which part of a business plan summarizes your plan and states your objectives? a. salon policies b. marketing plan c. mission statement d. executive summary | d. executive summary |
Which part of a business plan includes projected financial statements, actual statements and financial statements? a. organizational plan b. vision statement c. financial statement d. salon policies | c. financial statement |
Which part of a business plan ensures that all clients and employees are treated fairly and consistently? a. salon policies b. financial documents c. executive summary d. organizational plan | a. salon policies |
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? a. vision statement b. mission statement c. salon policies d. marketing plan | a. vision statement |