Understanding Business Finance
The Business Training Academy delivers 2 one day courses under this heading. The first is for people with limited or no knowledge of business finance and accounts (Level 1) and the second more advanced course (Level 2) is for people who already have a basic knowledge and score a mark of between 51 and 80 on the Academy’s Financial Awareness Test, which is accessed through our website.
Our ‘financial’ training is based on three fundamental messages:
- 1) “Businesses go bust when they run out of money!”
- 2) “Turnover is Vanity, Profit is Sanity, Cash is Reality”.
- 3) “When you start to measure businesses performance only then can you truly manage business performance”.
We firmly believe that an understanding of these three fundamental aspects will have a major impact on whether a franchise business will survive and how successful it will be.
Our Level 1 course helps participants to understand the basic concepts of accounting and finance such as profit and loss accounts, balance sheets, working capital, financial forecasts and the difference between cash and profit.
The level 2 course covers a range of KPI’s (key performance indicators), break-even analysis and gives participants the opportunity to produce an actual set of projections for their own business.
The training will not turn participants into accountants but will give them an understanding of the key issues so that they are better able to monitor and manage their own business performance or professionally review the businesses that they are responsible for (our training is therefore appropriate for both Franchisors and Franchisees).
These two courses are run by Business Training Academy Director Chris Roberts QFP and Training Manager Kevin Noble QFP. Both are experienced trainers and coaches and have a wealth of knowledge and good testimonials for the training and coaching they deliver. Indeed they and the team at Franchise Finance are working daily in the Franchise sector preparing actual business plans and arranging finance. We have extremely close relationships with the Franchise Bankers and Leasing Companies and clearly understand business finance and accounts (95% success rate). Our knowledge is extensive and up to date and this ensures our courses and workshops are always current and practical.