Why attend this course?
This course will give you a practical understanding of business finance and accounts, and how this should be applied to the monitoring of a franchise network. Finances can provide a wealth of information about a franchisee’s business and their performance, but are often overlooked by franchisors due to lack of time or understanding. This course will give you the skills needed to understand and analyse accounts in an efficient way to boost the performance of your network.
Workshop Outline (10am-4pm – 2 days)
- Examine the makeup of the cash flow forecast, profit and loss account and balance sheet
- Understand how to prepare a profit and loss account from a trial balance
- How to use key ratios, trend & comparison analysis to review accounts & identify areas for improvement
- Introduction to a range of basic accounting principles & techniques, including double entry bookkeeping
- Apply learning in practical case studies by examining two sets of franchisee accounts, identifying red flag areas and reviewing how these can be questioned to potentially improve performance
- The dates of upcoming training workshops are available on our website, however, if you would like to arrange in-house training please contact us on 01235 820470
- Basic principles of accounting practice
- The principles of double entry bookkeeping
- Process of producing the profit & loss account
- Key headings in the Balance Sheet
- Cash flow statement understanding
- Detailed review of a Balance Sheet
- Purpose & process of producing management accounts
- Key elements of ratio analysis, comparison analysis, and evaluation
- Analyse and evaluate two sets of profit and loss accounts and balance sheets from theoretical franchisees
- Prepare a sales, profitability and cash flow forecast and understand the importance of cash flow
Who should attend?
- Franchisors – Maintain a comprehensive understanding of your franchisees’ finances, benchmarking and analysing to drive improvements
- Franchise Managers – Provide better support for your franchisees by understanding the financial strengths and weaknesses in their businesses, and identifying the strategies that will deliver better performance
- Management teams – Gain a clear overview of your franchisees’ performance, recognising financial pressure points before they become critical.
- Professional advisors – Learn the key indicators behind a financially strong and weak business and understand the advantages of proper financial monitoring in a franchise context.
- Detailed handouts
- Participation certificate
- Personal action plan
- Business planning template
- 500 points towards the nationally recognised Qualified Franchise Professional (QFP)