Chapter 22 Vocabulary Flashcards
Booth rental
Estheticians are required to pay the owner a set rental fee, along with payment of utilities as agreed upon, to operate in a specific space.
Business plan
an essential written document that provides a description and overview of your company’s future. Overview of your business as you see it today, and what you foresee it in the next 5 years.
Capital
Money needed to invest in a business.
Consumption supplies
Supplies used to conduct daily business operations.
Corporation
A business ownership where one or more stockholders share ownership; Corporation is considered an independent legal entity separate and distinct from its owners with its own rights, privileges, and liabilities.
Demographics
Particular identifying characteristics of a Area or population, Such as specific size,age, sex, or ethnicity of its residents; average income.
Employee manual
Handbook or guide for employees; Containing important general information. Ex. Six days, holiday closing etc.
Fixed costs
Operating costs that are constant, Ex. rent, monthly payments.
Partnership
Business ownership with two or more people sharing ownership, although this does not mean equal arrangement. Each partner assumes the others unlimited liabilities for debt, Profits are shared.
Personnel
Employees, staff
Procedural guide
Manual or set of instructions designed to standardize operations: Its supplies specific protocols for conducting individual services, such as the method for performing glycolic or microdermabrasion treatment.
Profit
Amount of money available after all expenses are subtracted from all revenues.
Public relations: PR
Planning and developing of relationships to achieve a certain desired behavior.
Retail supplies
Items available for sale to clients
Revenue
Income generated from selling services and products or money taken in.
