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A written description of your business as you see it today and as you forsee it in the next five years
What is a business plan
any and all local, state, and federal regulations and laws that you must comply with when you decide to open your business or rent a booth or suite
What are business regulations and laws
Individual owner and , most often, the manager of the business
What is the sole proprietor
Supplies sold to clients
What are retail supplies
4 elements of a successful salon, spa, or barbershop
Physically attractive, well organized, smoothly run, sparkling clean
Information about a specific population, including data on race, age, income, and educational attaintment
What are demographics
Guarantees protection against financial loss from malpractice, property liabiliTy, fire, burglary and theft, and business interruption
What is insurance
Business structure in which two or more people share ownership, although not necessarily equally
What is partnership
your staff or employees
What are personnel
Name three types of advertising
Newspaper, business website, email
a long term picture of what the business is to become and what it will look like when it gets there
The recurring processes or activities involved in the running of a business for the purpose of producing income and value
What is business operation
Money needed to invest in a business
What is capital
A strategy for how goods and services are bought, sold, and exchanged
What is marketing
Typically business owners continue
To service clients while they manage the business
A set of bench marks that, once achieve, help you to realize your mission and your vision
What are goals
The rules or regulations adopted by a business to ensure that all clients and associates ae being rested fairly and consistently.
What are business policies
An ownership structure controlled by one of more shareholders
What is a corporation
The components of a basic business plan
What are executive summary, vision statement, mission statement, organization plan, marketing plan, financial documents, supporting documents, vusine policies
Is there a guarantee of profits when being a business owner
What is no
dicumetns governing the opening of a business, including leases, vendor contracts, employee contracts,and more
What are written agreements
Maintaining accurate and complete records of all financial activities in your business
What is record keeping
Supplies used in the daily business operation
What are consumption supplies
Name responsibilities of a booth renter
Record keeping, paying taxes, having propper insurance
This status allows the taxation of the company to be similar to a partnership or sole proprietor, as opposed to paying taxes based of a corporate tax structure
What is S corporation