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1. When helping a salon decide how many units to buy for a one-month promotion they should take their expected guest count for that month and multiply it by:

a) 8%

b) 9%

c) 10%

d) 11%

2. You’ve been asked to help a salon budget for their promotions. They plan on running 6 each year. You decide the salon should combine two months worth of sales and multiply that number by “X” in order to get the right budget.

a) 1%

b) 2%

c) 5%

d) 10%

3. Amy realized that her budgets were way out wack. She was spending so much money each month on backbar! You explained to her that a good backbar budget should be the salon’s monthly service sales multiplied by:

a) 7%

b) 8%

c) 10%

d) 25%

4. Amy was struggling to find her salon’s breakeven point, but you know that to calculate breakeven it’s a good rule of thumb to add the monthly rent to the monthly debt payments and multiply that number by:

a) 3

b) 4

c) 7

d) 9

5. In order to make a profit, a salons rent + long-term debt payments should be no more than:

a) 30% of a salon’s total sales

b) 25% of a salon’s total sales

c) 20% of a salon’s total sales

d) 10% of a salon’s total sales

6. It is a best practice when implementing a retail commission structure to pay 20% per week if:

a) The stylist sold $0 that week

b) The stylist sold $100 that week

c) The stylist sold $200 that week

d) The stylist sold $300 that week

7. Gift card revenue is recorded as a balance sheet liability and is considered unearned income until:

a) The gift card is lost

b) The gift card expires

c) The gift card is redeemed

d) The gift card is re-gifted

8. In order to calculate Retail to Gross Sales % the two numbers you will need are:

a) Retail Sales and Total Sales

b) Retail Sales and Direct Expenses

c) Total Sales and Indirect Expenses

d) Commission paid each month and Total Sales

9. Last March, Ken’s salon did $55,000 in service sales and $15,000 in retail sales, what was Ken’s Retail to Gross %?

a) 21%

b) 25%

c) 27%

d) 31%

10. When a salon is selling a promotion, what is most important?

a) The savings the salon gets when they buy the promotion

b) The speed at which the salon sells the promotion to its customers

c) How the promotion is merchandised

d) The social media campaign around the promotion

11. Tammy pays $5000 a month in rent and $1000 a month in Debt. In order for Tammy to Breakeven how much does her salon need to do in total sales each month?

a) $22,000

b) $32,000

c) $42,000

d) $52,000

12. When helping salons create promotions a helpful app might be:

a) Canva

b) Face Tune

c) Spotify

d) Optik TV

13. When posting on social media it is important the image is properly cropped so the post is clear, easy to read and enhances the overall look of your social media page?

a) True

b) False

14. When we launch a new brand to a salon, we should try our best to:

a) In preparation for launch, design a plan that inspires and educates the stylists and helps to gain consumer interest and awareness

b) Tell the team to get to work because they have a lot of product to sell

c) Touch base with the customer two months later to ask if they need anything to help with sales

d) If product isn’t selling, comfort the team by saying “it’s okay, it will just take time, this is normal”

15. To help salons increase sales we can try to help them with:

a) Retail sales, increasing guest counts, team building

b) Vacation planning, reading their Yelp reviews, Retail sales

c) Organizing sick days, logging onto Instagram, increasing their average ticket

d) Replying to customer complaints, customer service tricks, how to relax comfortably in the lunch room

16. A fun way to get stylists to high priced education is to:

a) Create a team incentive that focuses on important salon growth drivers

b) Pay for all the stylists who can tell the best jokes

c) Complain to the manufacturer about the price

d) Buy everyone’s trip because YOLO!