chapter 32

Terms in this set (25)

during which period of your business timeline should you focus on tending to the business, it clientele, and its employees to grow and expand the business so that it is profitable?

from years 2 to 5

during which period of your business timeline should you focus on adding more locations, expanding the scope of the business ( for example, adding spa services), or constructing a larger space?

from years 5 to 10

during which period of your business timeline might you move from being a working cosmetologist into a full-time manager of the overall business and to begin planning for your eventual retirement?

from years 11 to 20

when opening a new business, the location selected should reflect your ____

primary clientele

what is a written plan that describes a business and foresees projections for the next five years?

what federal agency requires that the ingredients of cosmetics preparations be available to employees?

information about the ingredients in cosmetic preparations and other products are included in a ___

a salon that is owned and operated by an individual is referred to as an ____

individual ownership

an individual who determines policies, has the last say in decision making, assumes expenses, receives profits, and bears all losses is the ___

sole proprietor

one reason for entering into a partnership agreement is to have ___

capitol for investment

what is one of the best ways for a business owner to protect personal assets?

which business structure saves you money in taxes, provides greater business flexibility, and makes raising capital easier?

a stockholder of a corporation is required to pay unemployment insurance taxes on his/her ____

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

vision statement

which section of the business plan provides a description of the key strategic influences of the business, such as the market it will serve, the kinds of services it will offer, and the quality of those services?

mission statement

which section of the business plan describes the administrative structure of the business?

organizational plan

what is a written agreement with a building owner that outlines the responsibilities for repairs and expenses?

good business operations require a simple and efficient ___

supplies that are used and replaced in the daily business operation are identified as ___

consumption supplies

what should be the primary concern when planning and constructing the physical layout of a salon?

maximum efficiency

in order to have a successful business, a top priority in the allotment of funds is to ___

meet payroll obligations

the important job of booking appointments and greeting clients is generally the responsibility of the ___

the first and last person who has contact with a client visiting the salon is typically the ____

which promotion method is an example of social media?

photo sharing sites such as instagram

newspaper or radio ads and charitable events can best be described as forms of ____

;