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33 Multiple choice questions

  1. "chair rental"; renting a booth or station in a salon
  2. What is the best form of advertising for a salon?
  3. A long-term picture of what the business is to become and what it will look like when it gets there.
  4. Supplies sold to clients
  5. It should always be your top priority to meet which financial obligation?
  6. Which part of a business plan includes the owner's resume, personal financial information, legal contracts, and any other arguments?
  7. What is the minimum number of stockholders required for a corporation to exist?
  8. Which part of a business plan outlines all of the research obtained regarding the clients your business will target and their needs, wants, and habits.
  9. Which part of a business plan summarizes your plan and states your objectives.
  10. When preparing your business plan, it is often helpful to consult with an ______ to prepare your financial documents.
  11. Supplies used in the daily business operation.
  12. When planning and constructing the best physical layout for a salon, the primary concern should be ________.
  13. The ongoing, recurring processes or activities involved in the running of a business for the purpose of producing income and value.
  14. Which part of a business plan outlines management levels and describes how the business will be run?
  15. Which part of a business plan includes projected financial statements, actual statements, and financial statement analysis?
  16. Your staff or employees
  17. Money needed to invest in a business
  18. A set of benchmarks that, once achieved, help you to realize your mission and your vision.
  19. Booking appointments is primarily whose job?
  20. Which part of a business plan is a description of the key strategic influences of the business?
  21. Any and all local, state, and federal regulations and laws that you must comply with when you decide to open your salon or rent a booth.
  22. Individual owner and, most often, the manager of a business
  23. An ownership structure controlled by one or more stockholders.
  24. Guarantees protection against financial loss from malpractice, property liability, fire, burglary and theft, and business interruption.
  25. The rules or regulations adopted by a salon to ensure that all clients and associates are being treated fairly and consistently
  26. Maintaining accurate and complete records of all financial activities in your business
  27. Documents that govern the opening of a salon, including leases, vendor contracts, employee contracts, and more; all of which detail, usually for legal purposes, who does what and what is given in return.
  28. Information about a specific population including data on race, age, income, and educational attainment.
  29. The first goal of every business should be to _______________.
  30. Business structure in which two or more people share ownership, although not necessarily equality
  31. A written description of your business as you see it today, and as you foresee it in the next five years (detailed by year)
  32. When choosing a location for your business, you should select one that ______.
  33. Costs to create even a small salon in an existing space can range from _____ per square foot.