Malpractice - a type of insurance that covers employees in the event a client sustains an injury, Fringe Benefit - a type of compensation that is not included in the salary, Hourly Salaries - a rate paid for each hour worked, Proprietorship - a mode of ownership in which one individual owns and operates the business, Salary - a predetermined rate of pay, regardless of how many clients are served, which can be either flat-rate or hourly, Upscale Salons - tend to offer a full range of styling and spa services, attract wealthier clientele, and can charge higher prices, Record-Keeping - provides an on-going analysis of the salon's budget and operations and is vital to the success of a business, Service Product Line - a section of a business plan that analyzes the services offered from a consumer's perspective, Workplace Injury - insurance required by most states that protects employees against injuries sustained at work , Lawyers - legal advisers who can help with salon ownership, property leasing, federal regulation compliance, and business contracts, Rebooking - the practice of setting up a client's next appointment before they leave in order to establish repeat business and a loyal client base, Full-Service Salons - offer multiple health and cosmetic services, are less reliant on high-traffic locations, and are more likely to develop a devoted client base, Franchise Salon - independently- owned locations of a corporate-funded chain that could be owned by a single proprietor or by a corporation,

Employability and Salon Ownership Vocabulary PT 2

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