Business Management & Marketing for Pet Stylists Flashcards
7 cards from real CPS practice questions. Tap to flip, then mark Knew It or Still Learning โ missed cards come back until you master them.
Read the first 7 Business Management & Marketing for Pet Stylists flashcards as text
A grooming salon posts a 'refer a friend, get 10% off' promotion. This is an example of:
Answer: A referral program
A referral program incentivizes existing clients to bring in new customers by offering them a discount or reward.
Which financial statement shows a grooming business's revenue, expenses, and profit over a specific period?
Answer: Income statement (Profit & Loss)
The income statement, also called a Profit & Loss statement, summarizes revenues and expenses to show net profit or loss over a period.
A pet stylist notices that 80% of revenue comes from 20% of clients. This principle is known as:
Answer: The Pareto Principle
The Pareto Principle (80/20 rule) states that roughly 80% of outcomes come from 20% of causes, such as top clients driving most revenue.
Which of the following is the most effective way to respond to a negative online review of your grooming salon?
Answer: Reply professionally, acknowledge concerns, and offer to resolve offline
A professional, empathetic response that invites offline resolution shows prospective clients that the business takes feedback seriously.
An 'upsell' in a pet grooming context would be:
Answer: Recommending a teeth-brushing add-on during checkout
Upselling means offering additional services (like teeth brushing or paw balm) that increase the value of the current transaction.
What is the primary purpose of a grooming salon's cancellation policy?
Answer: To protect the business from lost revenue due to last-minute cancellations
A cancellation policy protects the groomer from revenue loss caused by no-shows or last-minute cancellations that leave appointment slots unfilled.
Which type of business structure offers personal liability protection while allowing pass-through taxation for a solo groomer?
Answer: Limited Liability Company (LLC)
An LLC protects personal assets from business liabilities while profits pass through to the owner's personal tax return, avoiding corporate double taxation.