Beauty Business Flashcards
Is a written description of your business as you see it today and as you foresee it in the next five years(detailed by year).
Business plan
A business plan is more of an _____ with yourself and not legally binding. A break down by year
Agreement
An outline of all the research obtained regarding the clients your business will target and their needs, wants, and habits.
Marketing plan.
Is a sweeping picture of the long term goals for the business: what it is to become and what it will look like when it gets there
Vision statement
During this time period, you may want to move from being a working beauty professional into a full term manager of the overall business and begin planning for your eventual retirement
Years 11-20
A____ (CPA) can be invaluable in helping you gather access financial information.
Certified public accountant
You will need to purchase ___ that guarantees protection against financial loss from malpractice, property liability,fire, burglary and theft, and business interruption
Insurance
Is the individual owner and most often the manger of the Haines. Who determines policies and has the last say ion decision making. As well as assumes expenses receives profits and bears all loses
Sole proprietor
In a __business structure, 2 or more people share ownership/ although not necessarily equal
Partnership
___ determines the actual value of the business once the current owner’s bookings are taken out of the equation
Financial audit
To avoid any misunderstandings between the contracting parties…
Write purchase and sale agreements
___&___ statements of inventory (goods,fixtures,and the likes) indicating the value of each article
Complete/ sign
If applicable, a __ of a note, mortgage, lease or bill of __, includes an investigation by the buyer to determine whether there are defaults in the payment of debts
Transfer/state
Confirm identity of ___
Owner
Use of ___ name and ___ for a definite period of time
Business reputation
Disclosure of any and all ___ regarding the shops clientele and it’s purchasing service habits
Information
Disclosure of the conditions of the facility- if you’re buying the actual building an full ___ is in order
Inspection
____ agreement stating that the seller will not work in or establish a new ___,____,or ____ within a specified distance from the present location
Non complete/salon/spa/barbershop
___agreement either formal or informal that lets you know if the employeess will stay within the business under new ownership
Employee
The lease should specify clearly who owns what and who is responsible for which __&___
Repairs / expenses
As a business owner you must protect the
Business/clients/and staff of several levels
Ensure that your business has ___ looks as well as a fire alarm system alarm system and surveillance
Adequate
Purchase liability fire malpractice and burglary __ and do not allow these policies to lapse while you’re in a business.
Insurance
Become familiar with all __ governing your discipline and with the __&___ control codes of your city and state
Laws. City and state
Keep accurate __ of the number of employees their salaries lengths of employment and social security numbers are required by various state and federal laws that monitor the social welfare of workers
Records
A good _ and an accounting system are indispensable
Accountant
Expenses includes ,,,,,,_, retain all check stubs cancelled checks receipts and invoices
Rent utilities insurance salaries advertise equipment and repairs
The purchase of ___&___should be closely monitored
Inventory and supplies
Always keep service _ or _ cards that describe the treatments given and merchandise sold to each client
Records or client
Booth rental is legal in every state except
Pennsylvania
Are solely responsible for their own clientele supplies record keeping and accounting
Booth renters
If a beauty pro is not available handle it by…
Suggesting other times / another person
Offer to call the client if there’s a cancellation
Handling complaints over the phone is a
Difficult task
Is a phenomenon of the digital age that you can use and may already have used to spread your brand
Viral marketing
Encouraging a client to add another service
Cross promoting
