Financial Projections Workshop
Our one day Financial Projections Workshop programme is run on behalf of Franchisors who wish to ensure that their franchisees have a comprehensive set of financial projections for a specific 12 month period. We work with the Franchisor to build a one year monthly projected P&L and Cashflow Forecast template model for a typical franchisee. It is excel based and works on a ‘double entry’ system thus producing a self-balancing projected trial balance.
All Franchisees are invited to attend the workshops (so we may run one in the north, one in the midlands, and one in the south as appropriate). Franchisees have to bring with them a lap-top and are pre-warned that they will need the following information as at the projected start date:
- Opening bank balance,
- Creditor and debtor information including tax and VAT etc.
- Loan capital and interest repayment and direct debit details etc.
Benefits for the Franchisor:
- Franchisees will all use the same template so their projections will all be correctly prepared on a uniform basis.
- Best practices can be shared during the workshop and useful and accurate comparisons can subsequently be made.
- Franchisees will be setting and sharing their own ‘targets’ which can be monitored against actuals which they will add each month.
- The Franchisor will have a much better understanding of what is happening in the network and be in a position to take timely and appropriate action.
- Franchisees will appreciate the added value the franchisor has provided by arranging this workshop for the network.
Benefits for the Franchisee:
- The morning training session “Understanding Business Finance and Accounts” where they will gain an enhanced appreciation of how to understand and use accounts and projections to control and manage their businesses.
- In the afternoon they will generate a projected P&L and cashflow forecast for a 12 month period. Understand and calculate their breakeven and a range of K.P.I.s (key performance indicators).
- They will see clearly how effort and or improvement in one or two areas can substantially improve the profit they make. They will also ensure they have enough working capital for the year ahead.