Module 3 How do I Read Financial Statements?

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Course Content

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Course Introduction 3 Lessons

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Lesson 1 Course content overview

Lesson 2 How to use this course

Lesson 3 Legislation Compliance

Module 1 Financial Foundations 7 Lessons

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Lesson 1 Why did you open a business?

Lesson 2 The financial functions of business

Lesson 3 The language of numbers

Lesson 4 Playing the game of business

Lesson 5 Understanding profit and profit margin

Lesson 6 The investor

Lesson 7 What is your profit target?

Module 2 Getting Organised 5 Lessons

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Lesson 1 Financial information systems

Lesson 2 Petty cash management

Lesson 3 Bookkeepers and Accountants

Lesson 4 What is your financial vision?

Lesson 5 Knowing the numbers that matter

Module 3 How do I Read Financial Statements? 3 Lessons

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Lesson 1 How do I read a Profit and Loss?

Lesson 2 How do I read a Balance Sheet?

Lesson 3 How do I read a Cash Flow Statement?

Module 4 How do I make sense of the numbers? 6 Lessons

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Lesson 1 Understanding benchmarks

Lesson 2 My salon benchmarks

Lesson 3 Calculating break-even the easy way

Lesson 4 Understanding Fixed and Variable costs

Lesson 5 Identifying the fixed and variable costs on your Profit & Loss Report

Lesson 6 Calculate your break-even point

Module 5 How do I Reduce my Salon Outgoings? 12 Lessons

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Lesson 1 Reducing occupancy costs

Lesson 2 Reducing professional use inventory costs

Lesson 3 Reducing retail inventory costs

Lesson 4 Reducing the employee costs

Lesson 4.1 Reducing the employee costs for support staff

Lesson 5 Reducing the employee costs for income producing staff (Staffing Levels)

Lesson 5.1 Reducing the employee costs for income producing staff (Pay Systems)

Lesson 5.2 Reducing the employee costs for income producing staff (Pricing & Productivity)

Lesson 5.3 Reducing the employee costs for income producing staff (Time Management)

Lesson 6 Reducing the employee costs for salon owners

Lesson 7 Reducing the all remaining costs

Lesson 7.1 Reducing the all remaining costs

Module 6 How do I Set my Salon Budgets? 6 Lessons

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Lesson 1 Understanding the cash flow forecast

Lesson 2 The rolling 13 week cash flow

Lesson 3 Creating your own rolling 13 week cash flow forecast

Lesson 4 Salon Budgets – What, Why and how

Lesson 5 Creating a budget for your salon

Lesson 6 Budget spreadsheet walk through

Module 7 How do I Price my Salon Services? 5 Lessons

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Lesson 1 What to consider when pricing your salon services

Lesson 2 Understanding the service price per minute

Lesson 3 Working out your service price per minute

Lesson 4 Service price per minute price list

Lesson 5 Overcoming the price list problems

Module 8 How do I Pay my Salon Team? 9 Lessons

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Lesson 1 What are the 5 things your pay system needs to achieve?

Lesson 2 The 5 pay structures and how they impact your salon culture

Lesson 3 Team based pay

Lesson 4 Commission based pay systems

Lesson 5 Understanding the impact of the pay cycle

Lesson 6 Level system performance & reward

Lesson 7 Paying the salon owners

Lesson 8 Paying the salon managers

Lesson 9 Paying the support team

Module 9 How do I Increase my Salon Income? 7 Lessons

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Lesson 1 Is your business model rental or employee based?

Lesson 2 What is your salon revenue model?

Lesson 3 KPI’s The drivers of productivity

Lesson 4 My top 12 KPI’s

Lesson 5 Coaching for growth

Lesson 6 One to ones

Lesson 7 Setting financial goals for the salon