Milady Standard Barbering Exam Review: Ch 21 The Business of Barbering Questions Perfectly Answered!!

Barbershop owners have no guarantee of _________________? - ANSWER-Profits Owning you own barbershop or renting a booth in an existing shop or salon requires _________________? - ANSWER-A strong line of credit Which of the following is a guide to actions of the organization? - ANSWER-Mission Statement What business time period would be appropriate for adding more locations or expanding the scope of the business? - ANSWER-Years 5 to 10 A _______________ is written description of your business as you see it today and as you foresee it in the next 5 years? - ANSWER-Business Plan Which of the following is an ownership structure controlled by one or more stockholders? - ANSWER-Corporation One reason for going into a partnership arrangement is to ________? - ANSWER-Have help running your operation One of the requirements for a partnership arrangement is __________? - ANSWER-Trust In a business plan, the owner's resume and personal financial information would be found in the ___________? - ANSWER-Supporting Documents