Thinking of A Master Plan
A long term picture of what the business is to become and what it will look like when it gets there.
What is vision statement?
The individual owner and, most often, the manager of the business, who determines policies and has the last say in decision making, as well as assumes expenses, receives profits, and bears all losses.
What is the sole propietor?
_____ records help you maintain a perpetual inventory, which prevents overstocking or a shortage of needed supplies, and alert you to any incidents of theft. Also help establish the net worth of the business at the end of the year.
What are purchase (records)?
Adding on additional services?
What is upselling?
All activities that promote your salon, spa, or barbershop favorably. It must attract and hold the attention of readers, listeners, or viewers.
What is Advertising?
Policies that even small shops and booth renters should adhere to and that ensure that all clients and employees are treated fairly and consistently.
What are business policies?
Two or more people share ownership—although not necessarily equally. One reason for going into this arrangement is to have more capital, or money to invest in a business; another is to have help running your operation.
What is a partnership?
Expected net profit?
What is 15%?
What is the ultimate determining factor with regard to the size of your salon staff?
What is the size of the salon?
If you don’t have a large budget now, what should you do to secure your website name?
Buy your domain name and keep that ownership current.
An outline of all of the research obtained regarding the clients your business will target and their needs, wants, and habits
What is the marketing plan?
A form of business organization in which a firm that is already successful enters into a continuing contractual relationship with other businesses operating under the franchisor’s trade name in exchange for a fee.
What is franchise ownership?
Supplies to be used in daily business operation?
What are consumption supplies?
Encouraging a client who is booked for one service to add another?
What is cross-promoting?
What is the very best form of advertising?
What are satisfied clients?
An outline of employee and management levels and a description of how the business will run administratively
What is the organizational plan?
In this arrangement, a professional generally rents a station or work space in a salon, spa, or barbershop for a weekly fee paid to the owner.
What is booth rental?
In the allotment of funds what is your top priority?
Meet your payroll obligations. (Pay your personnel.)
Which states do not allow booth rental?
What are Pennsylvania and New Jersey?
When booking appointments, the requested services should be scheduled based on
What is client's preferences?
A description of the key strategic influences of the business, such as the market it will serve, the kinds of services it will offer, and the quality of those services
What is the mission statement?
Controlled by one or more stockholders. One of the best ways that a business owner can protect their personal assets.
What is corporation?
Percent of total gross income spent on advertising?
What is 3%?
Selling take home or maintenance products?
What is retailing?
What is the modern version of word of mouth?
What is viral marketing?