salon business Flashcards
operating agreement in which a business functions under parent corporation
franchise
buyer type who wants to save money
bargain buyer
how long should all records of daily sales & services be kept for
5-7 years
buyer type that is open minded & willing to take a chance on new products
ready buyer
term applied to procedures that will ensure that products are accounted for from time bought until used
inventory control
paid holidays, bonuses & insurance are all
benefits
rental agreement known a
lease
buyer who puts a struggle & has a strong desire to to debate
stubborn
emotional buyer bases purchase on
personal reason
what is important to allow close management of products purchased for retail in the salon
inventory system
to be granted a future loan, it is important to pay loans on time to avoid
default
who owns a sole proprietorship
one person
income minus expenses equals
profit
insurance that covers cost of equipment in case of fire or theft
property insurance
who collects retirement & saving funds
US & Canadian government
s
buyer who wants to know all the facts about products
logical
list of total liabilities
debt
benefit of a product
reason you should buy it
to become an invaluable asset to any any salon staff, you should never
make negative comments
compliance with local, state, regulations & laws is the responsibility of
the owner
insurance that protects the salon owner from financial loss due to employees negligence
malpractice
stylists name, service, clients name, date & clients phone number should be listed on
appointment book
money in checking & savings account, IRA’s, stocks & bonds are considered
assets
effective technique in building clientele is to
pass business cards
features of a product include
size of container
item reported to IRS as employee income
tips
method most effective to building clientele
word of mouth
amount of commission paid by salons for retail sales
50%
term given for selling products for client home care
retailing
making future appointments with clients
prebook
stylist additional payment based on number of clients bringing into the salon
salary & commission
to help keep an accurate inventory of supplies, it is important to maintain a
inventory control form
workers compensation insurance is needed to protect
employee
treat client with
respect & concern
easiest buyer motivation to recognize in the salon
ready buyer
payments received from clients for services performed and retail
income
what doesn’t need to be researched when beginning planning of salon
distance from social security office
what isnt a guideline when creating a resume
8 pages of info
most important relationships you form at the beginning of your career are the ones you develop
within the salon
item that offers an employee a brief summary of who you are & qualities
cover letter
