Chapter 32- The Salon Business Flashcards
tending to the business, it’s clientele and it’s employees and for growing and expanding the business so that it is profitable
2-5 years
adding more locations, expanding scope of business , construction of a larger space
5-10
may want to move from being a working cosmetologist behind the chair to a full time manager of the overall business and to begin planning for retirement
11-20
you will want to base your business location on your primary ______
clientele
written description of your business as you see it today and foresee it in the next 5 years
business plan
______ guidelines, including those requiring that information about the ingredients of cosmetic preparations be available to employees
OSHA
the individual owner and most often the manager of the business who : determines policies, and has last say in decision making , assumes expenses receives profits and bears all losses
sole proprietor
making your own rules and are responsible enough to meet all the duties and obligations of running a business
individual ownership
money you invest in a business
capital
one reason for going into a partnership arrangement is to have more ____
capital
one of the best ways thag a business owner can protect his or her personal assets
incorporating
the corporate business structures saves your _________ in taxes. provides greater business ________, and makes raising ______ easier
money
flexibility
capital
corporations raise capital by issuing
stock
paying unemployment taxes on what?
salary
a long term picture of what the business is to become and what it will look like when it gets there
vision statement
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 quality of those services
mission statement
administrative structure of the business
organizational plan
when renting or leasing a space, you just have an _____ between yourself and the buildings owner that has been well thought out and well written. the lease should specify clearly who ______ what and who is responsible for which ________ and _______.
agreement
owns
repairs
expenses
good business operations require a simple and efficient _______
record system
those to be used in the daily business operation are _______
consumption supplies
primary concern
maximum efficiency
make it top priority to meet your ______
payroll obligations
in the allotment of funds this comes first
paying your employees
a well trained ______ is crucial because they are the first and last person the client contacts
receptionist
