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Franchisee Finance workshop

This practical three day workshop is designed to help Pirtek Franchisees improve their financial understanding and financial management of their businesses. 

The first two days is led by Chris Roberts of Franchise Finance. Chris is a QFP (Qualified Franchise Professional) who has been helping franchisees to understand business finance and accounts for many years. He designs and delivers courses on behalf of a wide range of franchises and organisations such as the BFA, Banks and Trade Associations. He also developed the Pirtek financial assessment that we now use to assess franchisees ‘financial understanding’ and training needs. Day three of the course is led by Laura Hartley and Pirtek operations personnel.

Workshop Content

By the end of the workshop Franchisees will be more financially confident and competent and able to:

  • Identify and understand the key constituent parts of a Profit and Loss Account and a Balance Sheet and know why they need to be regularly produced, how they interact with each other and what important things they can tell you about your business.
  • Understand and demonstrate the concept of ‘Double Entry’ book-keeping.
  • Understand the difference between the ‘Concept of Profit’ and the ‘Reality of Cash’
  • Monitor performance using KPIs (key performance indicators) and breakeven analysis.
  • Appreciate the importance of prompt invoicing and good Credit and Stock Control.
  • Generate financial projections and know how to use them to calculate how much working capital and cash is likely to be required to meet the projected level of sales.
  • Learn how to get the best from Sage.

Workshop Format

The course is a workshop using a variety of methods [Flowchart: Alternate Process: www.franchisefinance.ltd.uk] including presentations, videos, case studies and practical exercises.  Participants will produce a set of accounts (balance sheet and profit and loss account) and analyse them using the techniques learnt. Participants are expected to have a working knowledge of Excel for spreadsheets and you need to bring your own laptop.

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3 days

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