Retail Dogma

Retail Budgeting & Planning

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Overview

Recommended Prep Courses

Prep courses are optional, but we recommend taking them first or have the equivalent knowledge before enrolling in this course

Retail Budgeting & Planning Course Overview

In this course students are going to go through the step-by-step process of creating a final P&L budget for a retail business. Starting with creating a multi-store sales & margin budget, then a cost budget and finally a P&L budget.

The budget takes into consideration seasonality, as well as all the factors that affect retail budgeting, in order to create a realistic forecast to build the budget on.

It also goes through the process of budgeting for a new retail store that doesn’t have historical sales data to build on, and at the end shows how to create a 3 years financial projection (P&L) for a retail business.

At the end of the course, a practice exercise is given for creating a budget from simulated store data.

Retail Budgeting & Planning Course Objectives

Upon completing this course, you should be able to:

  • Understand key external & internal factors affecting the retail budgeting outcome
  • Learn how to create a full year sales forecast for a multi-store retail business
  • Learn the different process between forecasting sales for a new store vs. existing stores
  • Learn how to build a cost budget for a retail business
  • Learn how to account for seasonality while building monthly targets
  • Build a full P&L budget for a retail business
  • Create a 3 years financial projection

Upon completing the course and passing the final assessment, students get a course completion certificate.

  • Multi-Store P&L Template
  • Marketing Calendar
  • Store Data for Practice