Retail Boot Camp - Financial Management
Join Alan Friedman, CPA, and Daniel Jobe for the only all-day financial training for music retailers at The NAMM Show. This back-office segment of Retail Boot Camp has been expanded to cover the most critical financial components of running a music retail business.
Friedman and Jobe of the CPA firm Friedman, Kannenberg & Co. will present proven best practices in the fiscal management of a music store. But this won’t be just another repeat of info you’ve heard before—this session will have new content and videos presented for the first time at The NAMM Show. And don’t think this is just for store owners. It’s for any retail staff or retail advisors who want to learn more about the financial challenges facing music retailers of all types and sizes. Topics include:
- Financial Issues: How to identify and fix the ones happening in your business
- Purchasing Inventory: How to buy the right mix and quantity of musical products and gear
- Financial Statements: How to generate, interpret and act upon them
- Financing: How to properly finance your inventory and rental pool purchases
- Rental Pools: How to properly account for and tax rental programs
- Employee Compensation: How to establish an effective comp plan for all employees
- Worker Status: How to determine the correct worker status (W-2 versus 1099) for your teachers and repair techs
- Succession: How to determine the dollar value of your business and begin the succession planning process
- Managing Inventory: How to manage an entire store’s worth of inventory effectively