Magazine for the professional nail industry.
Issue link: http://nailsmag.epubxp.com/i/139413
QUIZ: Building Your Business 8. Which of the following expenses are legally tax-deductible? (Check all that apply.) R Service products R Continuing education R Staff salaries R Car mileage for going to the beauty supply store R The cost of creating new signage 1. If you made just $5 more on one 4. What costs more? service a day, how much more would you earn in a single year? B. Retaining an existing client R Employee benefits and perks A. Getting a new client A. Less than $100 B. Between $100 and $500 C. Over $1,000 increase profit most dramatically? 5. In a down economy, is it: more/less important to advertise your business? A. More important 2. What are the advantages of buying B. Less important your products in bulk? A. Your per-unit costs are reduced. 9. Which of these methods allow you to A. Increasing service prices B. Adding new high-profit services to your service menu C. Eliminating low-profit (or "loss leader") services from your menu 6. What are the benefits to taking a D. Lowering your product costs B. Your product waste is reduced. few breaks during the day? C. Employee theft is reduced. (Check all that apply.) based salon to an independent D. You rarely run out of product. A. Reduced stress contractor-based salon E. You can sell products to your B. Weight loss customers at good prices. C. Better mood F. All of the above D. Improved customer service E. Increased stamina 3. If you operate your salon at a 25% F. Lower cholesterol 38 | 2013 NAILS CAREER HANDBOOK profit, how much is the savings of $1 equivalent to in earnings? E. Switching from an employee- 10. How often should you raise your service prices? A. Once every two years simply as a cost-of-living adjustment B. Every year, as long as you 7. What is the cheapest marketing method don't get too much pushback A. $10 available to nail technicians? B. $2 A. A business card C. When your costs increase C. $25 B. Their own nails D. When your clientele book is D. $4 C. Yellow pages advertising maxed out and you have no D. The Internet room for new customers from customers Sponsored by R www.youngnails.com Take this test online at www.nailsmag.com/CHQuiz.