Financial Management for Music Retail


Welcome to the NAMM U Online Financial Management for Music Retail training, presented by financial expert Alan Friedman of Friedman, Kannenberg & Co. This comprehensive video series covers must-knows for the successful financial operation of a music retail business. It’s designed for anyone involved in the financial operation of a music store. Each video in this training is sequential, but you can watch them on-demand at your own pace.

Alan Friedman is a senior partner with the accounting firm Friedman, Kannenberg & Co. He and his team have extensive experience providing accounting, tax and consulting services to the music products industry, servicing music retailers, manufacturers, music schools and studios, and recording studios, among others. He’s a regular presenter at industry events and has hosted such NAMM U programs as the Retail Training Summit and Retail Boot Camp.

Note: Information provided by NAMM U is not a substitute for financial or other professional advice. Please read the legal disclaimer about this training and other NAMM U educational programs.

Check out the following video trainings below:

1. Introduction

2. Why Financial Management?

3. Profitability Versus Cash Flow

4. Too Much Inventory

5. How Much to Buy

6. Inventory Turns

7. How Much Inventory to Stock

8. Gross Profit


10. Alan’s Rule of Thumb

11. Music Store Revenue

12. Budgeting

13. Financing

14. Fraud

15. Financial Statements

16. Rentals

17. Worker Status

18. Disaster Planning

19. Succession Planning

20. Financial Statements Overview

21. Balance Sheet Assets

22. Balance Sheet Equity

23. Balance Sheet Liabilities

24. Income Statement Revenues

25. Income Statement Expenses

26. Balance Sheet and Income Statement