Salon Business Part 3

Information about the size, average income, and buying habits of the population is called:

• Market research
• Economics
• Demographics
• Statistics

A long term picture of what you want your business to become is called:

• a goal statement

• a mission statement

• a strategic plan

• a vision statement

What is necessary to obtain financing when opening a salon?

• A checking account

• A salon license

• A prototype

• A business plan

When asking for money, you want to ask for enough to keep you afloat for at least how many months?

What type of professional can help you gather important financial information needed in developing the business plan?

• marketing manager
• building owner

• accountant

• human resources manager

A business owner's major concern with OSHA is:

• workplace safety and keeping SDS on file

• keeping things sanitary

• employee benefits and compensation
• product quality and innovation

An essential set of benchmarks that, once achieved, help you realize your mission and vision are called:

• Milestones
• Goals

• Obligations

• Assignments

Which part of the business plan summarizes your plan and states your objectives?

• executive summary
• market analysis
• financial projections
• mission statement

What is one thing to consider in choosing a location for your business?

A type of insurance that protects you if someone hurts themselves in your salon is (a)   while a type of insurance that protects you in case of negligence on the part of the Cosmetologist is ​ (b)  

• premises liability
• malpractice
• business interruption
• fire, burglary, and theft