Foundation Chapter 10 Quiz Game

1. Gwen's business growth has been at a standstill for months. Her establishment does see its (air share of regular clients, so she has been able to pay the bills, but little new business has come in, and she is worried about the future. Her assistant manager, Darlene, has been trying to convince Gwen to engage in more viral marketing. If she is to do so, what will this MOST likely mean?

• a. engaging in more social media campaigns
• b. buying expensive television advertising spots
• c. creating glitzy ad pieces and mailing them out to the neighborhood
• d. renting more booths or stations to up-and-coming beauty pros

2. How long is it MOST likely to take to determine and complete all of the aspects of starting your business?

• a. 10 years
• b. 1 year
• c. 6 months
• d. 1 month

3.Why will you need to purchase insurance when you open your own business?

• a. It protects you against malpractice suits.
• b. It protects your clientele against falls and accidents.
• c. It protects your staff against compensation loss fbr sick days.
• d. It protects the general public against auto mishaps in front of your store.

4. Samuel takes pride in running his business efficiently, effectively, and with the best interests of not only his clientele but also his employees in mind. Because of this, his business has been very successful for him. And, with this success, he always tries to share the profits and wealth with those who work so hard for him. With this in mind, which of the following is Samuel LEAST likely to do?

• a. make his payroll obligations a top priority
• b. offer his employees as many benefits as he can
• c. continuously change and alter his tipping policy
• d. create incentives fbr his staff to earn more money

5. Xavier5s instructor has told him repeatedly that in addition to the artistic aspects of the beauty industry, he should also have a keen business knowledge of it. Why did Xavier's instructor give him this advice?

• a. because eventually, like all beauty pros, he must become a business owner
• b. because entrepreneurship is an essential part of his beauty and wellness career
• c. because his renting a booth is the same as owning his own business
• d. because it will serve him well in managing his professional finances and business practices

6. You will want to base your business location on

• a. proximity to your home
• b. how many cars drive by per hour on average
• c. your primaiy clientele and their needs
• d. costs of rent, lease, and utilities

7. Which of the following is an essential set of benchmarks that, once achieved, helps you to realize your mission and your vision?

• a. goals
• b. statements
• c. objectives
• d. policies

8. Which of the following will be LEAST important in becoming a successful entrepreneur?

• a. attracting employees to your business
• b. attracting clients to your business
• c. maintaining loyalty of clients over a long period of time
• d. paying employees a salai-y instead of a commission

9. Maura, a beauty professional at a very popular and trendy downtown establishment, has been considering taking the leap and opening her own business. If she does everything in the right order, which of the following will be her first objective toward achieving her goal of becoming a business owner?

• a. choosing a business name
• b. choosing a business location
• c. determining the feasibility of the business
• d. determining the long-range goals of the business

10. A realistic benchmark for the net profit of a salon, spa, or barbershop is.

• a. 75%
• b. 50%
• c. 15%
• d. 5%