A Management Mindset - Understanding Financial Drivers and Results
Company Added
Company Removed
Apply to Request List

A Management Mindset - Understanding Financial Drivers and Results

A Management Mindset - Understanding Financial Drivers and Results

Building a successful multi-unit operation is difficult for any entrepreneur. Doing it successfully comes down to having the right management mindset, says Rod Bristol, a former franchise executive, and financial expert.

He recently wrote about what he says are the 5 critical capabilities that multi-unit franchisees must master in order to be successful.

Here's the fourth of his 5 competencies:

Understanding financial drivers and results (monitoring the enterprise)

  • Understanding financial drivers and results. Multi-unit owners must routinely review financial statements, budgets, and KPIs. They must master breakeven analysis to establish meaningful sales and profit goals, and to predict the timeline to breakeven as each unit is added. Location 2 is funded by profits of Location 1 and new debt.
  • How much capital is needed? How will the new location costs differ from the original? What sales are needed to support the profit goal? By when? What activity goals will keep your team on track with building your new customer base in the time required? Enterprise management is management by the numbers.
Published: October 22nd, 2019

Share this Feature

RetroFitness
SPONSORED CONTENT
RetroFitness
SPONSORED CONTENT
RetroFitness
SPONSORED CONTENT

Recommended Reading:

Comments:

comments powered by Disqus
ATAX
SPONSORED CONTENT

FRANCHISE TOPICS

One Cannabis
SPONSORED CONTENT
Conferences
Hotel Savoyen, Vienna, Austria
JAN 28-29TH, 2020

Checkers Drive-In restaurant franchises are small but efficient making our restaurants easy to operate and typically reduced overhead costs.
Cash Required:
$250,000
Request Info
Panchero's is a quick-serve, fresh-Mexican franchise founded in 1992, famous for serving tortillas pressed fresh right before its customers' eyes...
Cash Required:
$250,000
Request Info

Share This Page

Subscribe to Multi-Unit Franchisee Report

A Franchise Update Media Production
Franchise Update Media
P.O. Box 20547
San Jose, CA 95160
PH. (408) 402-5681
In Loving Memory Of Timothy Gardner (1987-2014)

Copyright © 2001 - 2019.
All Rights Reserved.