Test Android StudyStack App
Please help StudyStack get a grant! Vote here.
Reset Password Free Sign Up

Free flashcards for serious fun studying. Create your own or use sets shared by other students and teachers.

visit userbob.com
Remove Ads

Pivot Point ch 6

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.

The item that offers an employee a brief summary of who you are and what qualities you would bring to the salon is called a(n)   cover letter  
When a client recommends a salon professional to his or her friends, increasing the client base, this type of recommendation is known as a(n) _____________.   referral  
The money in your checking and savings accounts, IRAs, stocks and bonds are all considered to be your total ____________.   assets  
An operating agreement in which a business functions under a parent corporation in exchange for promotion, advertising and management is a(n) _____________.   franchise  
The four types of business ownership are sole proprietorship, partnership, ______________ and ________________.   corporation, franchise  
A salon owner that pays a set dollar amount each month to a building lessor is paying a(n) ____________ rent.   fixed  
The type of insurance that helps cover the costs of any salon equipment or the physical location itself in case of a fire or theft is known as premise or _________________ insurance.   property  
A salon owner must apply for a state sales tax _____________ before collecting tax on products or services sold.   permit  
The financial success of a salon will be achieved when the salon's income is greater than its ______________ ______________.   operating expense  
Income minus expenses equal ___________.   profit  
An employee that receives income based on a percentage of the dollar income of total clients serviced is being paid on a(n) _______________ structure.   commission  
A customer that did not call ahead to make an appointment, but comes into the salon seeking a service, is called a(n) ___________-____________ client.   walk-in  
The type of buyer that wants to save money at all costs and is more interested in the price of a product is the ______________ buyer.   bargain  
The term given for selling products for client home care is:   Retailing  
The designer's name, scheduled service, client's name, date and client's phone number should all be included in the:   appointment book  
In many cases, the first person to greet a client is the:   receptionist  
What amount of commission will a salon owner usually pay an employee for the retail sales of home care products?   8% to 15%  
Which of the following is vital in order to allow close management of products purchased for retailing in the salon?   inventory control system  
Which form of advertising involves sending postcards or flyers to potential customers?   direct mail advertising  
What is generally considered the best form of advertising?   word of mouth  
A designer earning additional payment over and above the normal paycheck would be receiving what type of compensation?   salary plus commission  
What percentage of the total salon expenses generally represents compensation for the salon owner and employees?   50  
The government agency that would audit your business' record keeping is the:   IRS  
Keep all records of daily sales and services for:   5 to 7 years  
Renting or leasing a workstation from a building owner would represent which of the following situations:   independent contractor  
All payments received from clients for services performed and home care products purchased is known as:   income  
The tax based on the profits (earnings) of a business is known as:   income tax  
The salon owner is responsible for collecting and paying sales tax how often?   monthly or quarterly  
Which of the following items is reported to the IRS as employee income?   tips received by an employee  
U.S. Social Security and Canadian Pension taxes are planned savings/retirement funds, and the money is collected by the:   U.S. and Canadian governments  
Which type of insurance protects the salon owner from financial loss due to an employee's negligence?   malpractice  
To be granted future loans, it is important to pay loans on time and avoid:   default  
The ideal salon arrangement has an efficient traffic pattern providing:   the least steps for the client and designers to travel  
Compliance with all local, state/province and federal rules, regulations and laws is the responsibility of the:   salon owner  
Location is the most important factor in:   opening a salon business  
Which of the following business types is owned by the shareholders and formed under legal guidelines?   corporation  
The type of business ownership in which two or more persons share all costs of opening, operating and maintaining the business is a:   partnership  
A business owned by one person is called a(n):   sole proprietorship  
Net worth is calculated by subtracting liabilities from which of the following?   assets  
Which of the following terms refers to all money owed?   liabilities  
Which of the following ways can a salon professional use to develop a successful relationship with the client?   determine the client's needs  
Making a future appointment with a client while he or she is still in the salon is an effective tool for building a clientele and is referred to as:   prebooking the client  
One of the most effective techniques in building a clientele is to:   give out business cards  
Which method is considered to be the most effective way of building your clientele?   word-of-mouth  
Job features such as paid holidays, health insurance and a retirement plan offered by the workplace are known as:   benefits  
The least important factor in deciding whether to accept a position is:   the size of the salon  


Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how
Created by: Ann Durlacher Alder Ann Durlacher Alder on 2011-06-15

bad sites Copyright ©2001-2015  StudyStack LLC   All rights reserved.