Module Name: The economics of Retail and Retail Business Management
Description:The Financial Management Theory skills programme is designed to provide franchise managers with a comprehensive understanding of financial principles and the theoretical framework needed to manage the financial aspects of a franchise business. This programme covers essential financial concepts, including budgeting, financial reporting, cost control, cash flow management, and profitability analysis. Participants will learn how to interpret financial statements, make informed financial decisions, and apply financial theories to ensure the long-term sustainability and success of the franchise operation.
Purpuse:To equip franchise managers with the theoretical knowledge and analytical skills necessary to make sound financial decisions. By understanding key financial principles and the impact of financial decisions on business operations, franchise managers will be able to effectively manage budgets, control costs, and optimize financial performance. This programme is intended to help participants build the skills needed to ensure that their franchise operates profitably, remains financially stable, and achieves its financial goals.
Rational:Financial management is a crucial aspect of running a successful franchise. Franchise managers must understand how to balance revenue and expenses, manage cash flow, and ensure that financial resources are being used efficiently. Poor financial decision-making can lead to operational inefficiencies, financial instability, and even business failure. Therefore, it is vital that franchise managers are well-versed in financial management theory to ensure the franchise's financial health and long-term viability.