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Salon Business

The Business

QuestionAnswer
In a booth rental (also called chair rental) arrangement, the stylist is responsible for all the following except: A. clientele B. accounting C. supplies D. mortgage payments D. mortgage payments
Booth rental (or chair rental) is different from salon ownership in that with booth rental: A. the initial investment is larger B. you carry your own insurance C. you do not have to keep records D. overhead is slightly higher B. you carry your own insurance
When selecting the location for a salon, you should consider: A. the direct competition B. the hair services you will offer C. the number of staff to hire D. your personal policies A. the direct competition
Information about size, average income, and buying habits of the population is called: A. a charter B. a census C. a business plan D. demographics D. demographics
Before you seek financing to open a salon, you must first develop a: A. color scheme B. business plan C. charter D. brochure B. business plan
Building renovations and business codes are regulated by: A. local regulations B. federal laws C. state or province laws D. the department of licensing A. local regulations
Social security is covered under: A. local laws B. state or province laws C. federal laws D. county laws C. federal laws
Salon owners purchase insurance policies to protect themselves against: A. loss of employees B. malpractice lawsuits C. loss of clients D. increases in rent B. malpractice lawsuits
A salon that is owned by stockholders and has a state charter is a/an: A. partnership B. individual ownership C. corporation D. joint ownership C. corporation
The type of ownership that subjects the owner to the most limited personal loss is the: A. individual ownership B. corporation C. partnership D. co-ownership B. corporation
If two people own a salon together, that type of ownership is a/an: A. partnership B. individual ownership C. chain salon D. corporation A. partnership
If you lease a space for your salon, the lease should specify who is responsible for: A. employee benefits B. repairs C. income taxes D. advertising B. repairs
Before you open a business, you need to determine how much capital you wil need to run it for at least the first: A. two years B. six months C. five years D. one year A. two years
Quality control means that every time clients come to the salon they can expect: A. the same stylist B. consistently high standards C. the same products used D. a different haircut B. consistently high standards
Receipts from services and retail sales are classified as: A. income B. client records C. expenses D. outgo A. income
For the average salon, the net profit is about ___ of the total gross income: A. 85 % B. 25 % C. 20 % D. 15 % D. 15 %
Information about which products are selling well and which ones are not can be seen in the salon's: A. inventory records B. petty cash book C. consumption records D. service records A. inventory records
Major purchases of supplies should be made: A. when they are needed B. when suppliers offer special prices C. after tax time D. before filing income taxes B. when suppliers offer special prices
For satisfactory client service, it is essential that the salon have good plumbing and: A. public transportation B. office space C. parking facilities D. lighting D. lighting
Guidelines that require that the ingredients of cosmetic preparations be displayed prominently for clients are put out by: A. state or province boards B. the department of education C. OSHA D. the EPA C. OSHA
The best form of advertising is: A. a neon sign B. satisfied clients C. a newspaper ad D. window displays B. satisfied clients
Closer contact is made with potential clients by using: A. direct mail advertising B. newspaper advertising C. radio advertising D. yellow pages advertising A. direct mail advertising
The largest expense item in operating a salon is: A. supplies B. rent C. salaries D. advertising C. salaries
The "quarterback" of the salon is the: A. stylist B. receptionist C. shampoo person D. manager B. receptionist
An accurate reflection of what is taking place in the salon at a given time can be seen in: A. an income tax return B. its business plan C. yearly records D. the appointment book D. the appointment book
Salon and individual licenses are covered by: A. state or province laws B. federal laws C. local laws D. county laws A. state or province laws
When booking an appointment by telephone in the salon, you should: A. give most clients to an established stylist B. be familiar with all services and products C. give most clients to a new stylist D. use a pencil in case of cancellations B. be familiar with all services and products
When listening to a client's complaint, it is important to avoid: A. interrupting B. apologizing C. being sympathetic D. promising free service A. interrupting
Client records should be kept: A. in the dispensary B. in the office C. at your station D. at a central location D. at a central location
The approximate % of a salon's budget spent on salaries is: A. 25 B. 75 C. 50 D. 35 C. 50
Products that are sold to clients are: A. consumption supplies B. stock supplies C. wholesale supplies D. retail supplies D. retail supplies
Local, state or province, and federal tax laws require a busines to maintain: A. an advertising budget B. proper business records C. a parking area D. a dress code for employees B. proper business records
In order to maintain an accurate and efficient control of supplies, it is necessary to have an organized: A. service record B. security system C. inventory system D. purchase system C. inventory system
Salon supplies that are used in the daily business operation are called: A. retail supplies B. wholesale supplies C. inventory D. consumption supplies D. consumption supplies
Payroll books and canceled checks should be retained for: A. seven months B. seven years C. ten years D. one year B. seven years
In the allotment of funds, the top priority should always be: A. suppliers B. insurance C. employees D. rent C. employees
Guidelines for becoming an effective manager include: A. sharing information B. letting employees learn on their own C. delaying feedback D. doubting employees intentions A. sharing information
Advertising should be concentrated around: A. your personal schedule B. the holidays C. newspaper schedules D. slow periods D. slow periods
In general, your advertising budget should not be greater than ___ of your total gross (before taxes) income. A. 3 % B. 1 % C. 10 % D.5 % A. 3 %
An important point to keep in mind when retailing is to recommend to clients: A. what works best for you B. the more expensive products C. everything in a product line D. what is in their best interest D. what is in their best interest
Created by: hodges900
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