Chpt. 32 - The Salon Business Flashcards
BOOTH RENTAL?
Renting a booth or station in a salon (aka chair rental)
BUSINESS PLAN?
Written plan of a business, as it is seen in the present and envisioned in the future.
BUSINESS REGULATIONS AND LAWS?
The rules of any/all local, state, and federal agencies you must comply with when you decide to open your salon or rent a booth.
CAPITAL?
Money needed to start a business.
CONSUMPTION SUPPLIES?
Supplies used in daily business operations structure controlled by one.
CORPORATION?
Ownership structure controlled by one or more stockholders.
DEMOGRAPHICS?
Information about the size, average income, and buying habits of the population.
INSURANCE?
A means of guaranteeing protection or safety for malpractice, property liability, fire, burglary and theft, and business interruption.
PARTNERSHIP?
Business structure in which two or more people share ownership, although not necessarily equally.
PERSONNEL?
Employees; staff.
RECORD-KEEPING?
The maintaining of accurate and complete records of all financial activities in your business.
RETAIL SUPPLIES?
Supplies sold to clients.
SALON OPERATION?
Knowing and complying with all Federal Occupation Safety and Health Administration guidelines, including those that require the ingredients of cosmetic preparations to be available to employees.
SALON POLICIES?
The rules or regulations adopted by a salon to ensure that all clients and associates are being treated fairly and consistently.
SOLE PROPRIETOR?
Individual owner and manager of a business.
