Understanding Financial Statements for Salon Owners

Understand what the income statement is and its componentsUnderstand what the balance sheet is and its componentsUnderstand what the cash flow statement is and its componentsUnderstand how to review your financial statements to grow your businessIf you own a salon or are looking to go out on your own, you will have financial statements that tell you what is going on moneywise in your salon.  Knowing about your financial statements can help you allocate resources and pinpoint areas requiring development and what problems need your attention.After taking this course you will be able to understand how your company is doing financially by reading and analyzing the financial statements of your salon.  You will be able to tell if you are growing or contracting if you will be around for a long time, as well as how profitable are your services, and what can be done to improve the profitability picture.You will develop an understanding of the balance sheet, income statement (or profit and loss statement) and statement of cash flow so that you can use them to make decisions, as well as how to analyze those statements to determine how your salon is doing, and what changes you need to make in order to grow your salon into the business you set out to have.This course will also give you the confidence to talk to bankers, CPAs, and potential investors about your salon and how it is doing, so you can get additional financing, save money on taxes, or convince investors to put money into your salon.Who this course is for:People in the salon industry who either own a salon or are looking to go out on their own.