Retail BOOT Camp””Financial Management






Wednesday, July 12 8AM – 12 PM

Nashville City Center, Level 1

If you haven’t been to the all-day financial Boot Camp, don’t miss this opportunity! Join Alan Friedman, CPA, and Daniel Jobe for the only full-day financial training for music retailers at Summer NAMM.

This back-office segment of Retail Boot Camp covers the most critical financial components of running a music retail business. Presented by Friedman and Jobe of the CPA firm Friedman, Kannenberg & Co., the Financial Management track isn’t just for store owners. It’s for any retail staff or retail advisers who want to learn more about the financial challenges facing music retailers or 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