Chapter 9 and 10

Types of business ownership

Individual ownership partnership corporation and franchise

Demographics

Information about a specific population including raise age income and education

Always know where your money

It's being spent

Two things to look at when interviewing a potential employee

Level of skill personal grooming

The telephone

Lifeline of the salon

When looking for a role model

Find someone with a success you wish to have

Partnership

a business owned by two or more people

income

receipts from services and retail sales

Evaluations are scheduled When

90 days after hiring once a year after that

job description

A document that outlines the duties and responsibilities of a particular position

Commission

A percentage of the revenue generated from services performed

Two things a business plan should include

A vision statement and a mission statement

To be a successful sale person you need

Ambition determination and a pleasing personality

Goals

Are the Central set of benchmarks I want to achieve help you realize your mission and your vision

reception area

Attractive appealing and comfortable The business nerve center

Two ways to keep clients coming back to you

Be reliable and be respectful

The receptionist is main duty

Booking appointments

The front desk is the

Center of the Business

Not paying your loan just called

Defaulting

Making the transition from school to work and be

Difficult

written agreement

Documents that govern the opening of a business

Salary

Getting paid hourly

insurance

Guarantees protection against financial laws malpractice property liability fire burglary and theft

Three ways employees can be paid

Salary commission salary plus commission

A good teammate knows

No one can be successful alone

Franchise Ownership

Operating under the franchise or trade name in exchange for a fee

Two things that help you meet your clients need

Put others first and be punctual

When you become an employee you'll be expected to

Put the needs of the business and clients ahead of your own

Expenses

Rent utilities insurance

Tips need to be

Reported in your income tax return

Salary plus commission

Salary and commission

The first reality of a service position is that your career revolves around

Serving your clients

appointment book

Should accurately reflect what is taking place in the salon at all times

Three ways to give yourself a raise

Spend less money work more hours increase service prices

Corporation

Stockholders put money in your business

Two things to help you be a team player

Strive to help in pitch in

Vision Statement

Sweeping picture of the long-term goals for a business

Your first job an industry will most likely be

The most difficult

The best time to think about getting your clients back into the salon as when

They are already there

Retail supplies

Those that are sold a clients

Conception supplies

Used in daily business operation

Three things that motivates people to buy

Vanity self satisfaction and problem-solving

individual ownership

sole proprietor they determine everything