Workshop 1: Financial Management for Profit.

Duration: Two (2) days
An intensive workshop for Retail Managers that focuses on margin, stock and debtor management, as well as an introduction to  budgeting and forecasting for sales, purchases and cash flow.

If your business would benefit from this workshop contact Peter and discuss your needs. Phone: 0438 712 200.

WORKSHOP FORMAT

Day One

Session 1
Components of excellent retail management in Australia

Session 2
The Key Performance Indicators for your Operation (Store figures will be required to be brought along to the workshop)

  • What are the High Profit Operators achieving?
  • How are you performing?

Session 3
Strategies to improve Gross Profit in your industry.

  • Gross profit. What is it?
  • What affects the Gross Profit margin in your industry?
  • The effect of discounting, when to discount and using discount tables to decide.
  • How to improve the gross profit result in your store.
  • Improving stock handling procedures.
  • Tips to reduce shrinkage.
  • The difference between markup and margin.

Session 4
Strategies to improve Stock Control.

  • How to use key stock retail ratios to determine whether you are under or over stocked.
  • What can cause an overstock problem? Discover the 20 plus reasons for being overstocked in a Retail Store.

 

Day Two

Session 5
Strategies to improve Debtor Control.

The legal perspective in opening accounts.
How you can effectively collect trade accounts.
What are the legal considerations to remember in collecting accounts?

Session 6
Planning for the future.

  • How to complete a SWOT analysis of your store.
  • Putting together a profit, sales and purchase plan for your store.
  • Setting up a simple open to buy system in your store.

Session 7
How to put together a Cash Flow plan for retail store.

  • How to improve your cash flow.
  • What financiers look for in cash flow planning.

Session 8
Workshop summary