Sr. Ch. 32 Test review - Salon Business

During which period of your business timeline should you focus on tending to the business, its clientele, and its employees to grow and expand the business so that it is profitable?

• From years two to five

• From years five to ten

• From years 11 to 20

• From years 20 onward

During which period of your business timeline should you focus on adding more locations, expanding the scope of the business (for example, adding spa services), or constructing a larger space?

• From years two to five

• From years five to ten

• From years 11 to 20

• From years 20 onward

During which period of your business timeline might you move from being a working cosmetologist into a full-time manager of the overall business and to begin planning for your eventual retirement?

• From years two to five

• From years five to ten

• From years 11 to 20

• From years 20 onward

When opening a new business, the location selected should reflect your _____.

• primary clientele

• personal preferences

• commute time

• future goals

What is a written plan that describes a business and foresees projections for the next five years?

• Personal budget

• Employee report

• Business plan

• Demographic analysis

What federal agency requires that the ingredients of cosmetic preparations be available to employees?

• FDA

• MSDS

• FBI

• OSHA

Information about the ingredients in cosmetic preparations and other products are included in a(n) _____.

• DOL

• OSHA

• SDS

• FDA

A salon that is owned and operated by an individual is referred to as a(n) _____.

• booth rental

• chain salon

• individual ownership

• Partnership

An individual who determines policies, has the last say in decision making, assumes expenses, receives profits, and bears all losses is the _____.

• sole proprietor

• partner

• corporate proprietor

• stockholder

One reason for entering into a partnership agreement is to have _____.

• more clients

• consolidated debt

• capital for investment

• many stockholders