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Franchise Payroll Essentials.
A financially literate business owner is more likely to be in control of their business. By understanding financial reports and basic accounting concepts they will be able to make smarter decisions about the business.
However, research by ASIC indicates that many Australians don't have the financial literacy skills they need to make informed decisions. This research also reveals that almost 50% of people find dealing with money stressful and overwhelming.
It's possible to get started in business with limited financial skills, especially in a franchise. However, the ability to grow a business and be profitable requires financial literacy. This will help franchisees take more responsibility for the financial aspects of business and increase their chance of surviving.
They don't have to run every aspect of accounting and bookkeeping. But knowing the basics of accounting means they can interact with financial professionals in a better way.
Every business owner we've met has been keen to improve their financial literacy and get more from their figures.
The Financial Confidence Workshop was developed as a result of clients telling us their franchisees wanted to understand more about the financial aspects of their business.
About the Workshop
Financial information tells a story about your business. And to make well informed decisions about your business direction it’s vital to understand the numbers.
It will help you plan your future with confidence and make informed decisions about growth, pricing, and cost management. You’ll also get insights into cashflow management.
During the workshop we will cover:
What the business lifecycle means for you
What the Profit & Loss Statement and Balance Sheet tell you about your business
How to prepare and use a cash flow forecast
The best way to monitor your important financial information
Practical tips for working with your accountant
Tips to get the most out of your accounting software
Suitable for: Franchisees who have 1- 2 years business experience
Minimum number of participants: 10
Format: Highly interactive. We use customised, practical examples and extensive group discussion.
Duration: 3 hours, plus breaks
Cost: $3,500 plus GST (plus travel and accommodation for 2 people). We recommend franchisees contribute towards the cost.
Facilitated by: Kate Groom & Peter Knight
Financial Confidence Workshop - “Easy info to follow, enjoyable and well worth it.” ~ Colleen, Frontline Recruitment