Chapter 21

Barber shop owners have no guarantee of

• Credit

• Profits

• Services

• Support

Owning your own barbershop, or renting a booth in an existing shop or salon requires

• Family with building codes

• A business partnership

• Hey, strong line of credit

• Community outreach

Which of the following is a guide to the actions of the organization?

• Mission statement

• Goals

• Vision statement

• Business plan

What business time. Will be more appropriate for adding more locations or expanding the scope of the business?

• Years 1 to 3

• Years 2 to 5

• Years 5 to 10

• Years 11 to 20

A __ is a written description of your business as you see it today in as you foresee it in the next five years

• Benchmark

• Written agreement

• Business plan

• Brand identity

Which of the following is an ownership structure controlled by one of more stockholders

• Franchise

• Corporation

• Partnership

• Sole proprietor

One reason to go into a partnership arrangement it is to

• Have the last seeing a decision making

• Have a new name in brand recognition

• Have help running your operation

• Maintaining corporate status

one of the requirements for a partnership arrangement is?

• Having stockholders

• Paying unemployment insurance, Texas

• Promoting protecting and furthering the interest of business in a community

• Trust

In a business plan, the owners resume and personal financial information would be found in the

• Supporting documents

• Financial documents

• Vision statement

• Executive summary

They kind of service your business to offer, and the quality of the service is found in what part of the business plan

• Marketing plan

• Vision statement

• Mission statement

• Organization plan