Chapter 32 Milady

accountant

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

sole proprietor

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

consumption supplies

Supplies used in the daily business operation are considered:

retail supplies

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

maximum efficiency

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

payroll

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

satisfied clients

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

goal

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

offers easy access

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

one

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

renter's

If you operateyour salon in a building that you own, it is recommended that you purchase all BUT which of these types of insurance?

personnel

Which of these terms refers to your staff or employees?

what you should do when you need to increase sales

Human resourse covers all BUT which of the following concerns?

the receptionist

Booking appointments is primarily whose job?

maintain current clients

The first goal of every business should be to:

Organizational Plan

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

Executive Summary

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

Financial Documents

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

Salon Policies

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

Vision Statement

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?

Marketing Plan

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?

Supporting Documents

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

Mission Statement

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

an agreement on future maintenance cost

An agreement to buy an established salon should include all BUT which of the following?

$ 75 to $ 125

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