Finance

  • Introduction to Financial Analysis (09101F)
  • Cash Management (10201F)
  • Pricing Strategies (10202F)
  • Operational Measurements (11203F)

Introduction to Financial Analysis (09101F)- 
This course introduces students to basic financial terminology and tools and their relevance to the bowling industry.

Course Lessons and Objectives:

Lesson 1

  • Appreciate the impact a solid financial analysis plan can have on your center.
  • Recognize the importance of consistency and transparency when implementing your financial plan.

Lesson 2

  • Grasp the basic principles of accounting.
  • Relate these accounting principles to your bowling center.
  • Recognize the various types of financial statements.

Lesson 3

  • Gain an understanding of the tools available to analyze your center’s financial performance.
  • Recognize the various types of financial reporting.
  • Define key terms used in financial analysis.

Cash Management (10201F)-
This course shows students how to manage cash flows, controllable expenses, and integrate inventory control systems.

Course Lessons and Objectives:

Lesson 1

  • Define and understand what cash flow is in your center.
  • Account for fluctuations in flow.
  • Describe how and why a cash flow statement is used.

Lesson 2

  • Understand how runaway expenses can ruin your operation.
  • Evaluate your center’s current expenses.
  • Consider expenses that can be scaled back.
  • Manage your biggest expense areas.
  • Know how Cost of Goods Sold affects your center’s performance.
  • Appreciate the effect of the payroll expense, based on a Case Study that will be presented.

Lesson 3

  • Discover inventory issues you may not have noticed before.
  • Implement an inventory control system.
  • Relate inventory to Cost of Goods Sold.

Pricing Strategies (10202F)-
This course shows students how pricing structures influence consumer opinions and influence their center's profitability, and perform a price elasticity exercise that helps them better determine appropriate price points for their products and services.

Course Lessons and Objectives:

Lesson 1

  • Differentiate between the two most basic pricing models.
  • Define the theory of competitive strategy as put forth by Michael Porter, a highly-respected Professor at Harvard Business School.
  • Name the five basic competitive forces in a market.
  • Identify the pitfalls in choosing one pricing model, and then later making a change.

Lesson 2

  • Grasp the basic formula that is the starting point for developing your center’s pricing strategy.
  • Recognize how supply and demand interact in your center - and how to apply it to pricing strategy.
  • Understand the role perceived value plays and how it can affect profitability.
  • Calculate profitability based on costs and revenues.

Lesson 3

  • Evaluate how to determine price elasticity when developing your strategy.
  • Position your center for handling price increases.
  • Set benchmarks to help you monitor your pricing strategy and its effectiveness.

Operational Measurements (10203F)
This course shows students how to analyze, interpret and potentially predict your center’s financial performance statements by learning to identify weaknesses and growth opportunities for your center and factors influencing performance levels.

Course Lessons and Objectives:

Lesson 1

  • Understand why operational measurements matter to your center.
  • Address how a bowling center is different than many other businesses due to the cash factor.
  • Define what shrinkage is and expand on best practices for reducing it.
  • Elaborate on what business drivers are within your center.

Lesson 2

  • Identify the best metric to use in measuring activity in your center.
  • Read and analyze a weekly report.
  • Compare day with day and year over year.
  • Generate questions based on your financial report analysis.