MRR-Pub-PIPELINE-Edition2-1217-LINKS

By: Bobbi Sullivan

M ike Whitlock, President of Tannian Consulting, held a break-out session titled Profit Pinnacles, Maximizing Profit, Performance and Payback. Mike explained the connection between the balance sheet, which is the “financing” side of your business, and the Profit and Loss Statement, the “operating” side of your business. Understanding these two financial statements and how they work together is the key to making informed business decisions. Using simple math Mike showed the group how to answer questions such as: 1. How to calculate your Break-Even Point. 2. How much do monthly sales need to increase to cover the cost of a vendor price increase? 3. How much do annual sales need to increase to cover the cost of a raise for an employee? 4. How to determine if you can afford to purchase a new van. 5. What total sales would be necessary to generate a 10 percent increase in profit? The response from our franchisees was overwhelmingly positive! Mike Kolakovic, from Mississauga, Ontario, said, “This was the best break- out session I’ve ever attended”. If you’d like to learn more speak to your Franchise Consultant.

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