THink Aesthetics

BSBESB407 Manage Finances for New Business Ventures

$550.00 AUD

Description

BSBESB407 Manage finances for new business ventures is a nationally accredited unit of competency under the Business Services Package.

Managing finances may not sound like a fun topic, but no business survives without it. The unique course content includes business strategy development, starting with deciding on your business location and assessing your competition, through to understanding gross revenue and navigating GST. Going beyond the required course content, the course includes lease and rent negotiation, and how not to get caught out.

Topics are covered in the context of a cosmetic tattooing business, and include subjects not are not required content, but are helpful in avoiding common mistakes and getting better business outcomes. Topics include:

Managing finances (including lease and rent negotiation)
Business strategy fundamentals
Budgets and projections (including your service mix, monthly revenue trends)
Business capital requirements (how much do you need and where can it come from)
Managing finances to provide for taxes (covers personal tax, PAYG, GST and others)
Credit policy, deposits, and cancellations
Monitoring and reviewing financial performance (understand the terms your accountant uses, learn about stock control and much more)
Preparing your own budgets (you should, you can, and you will learn how)
Spreadsheet use for start-ups and forecasting profit or loss (in small, easy to understand steps)

To build a budgets, and monitor of Profit and Loss, the course takes learners through a staged approach, from the simplest of calculations to a more detailed spreadsheet. Whilst a knowledge of Microsoft Excel is helpful, it is not essential as the spreadsheets are setup to you can just ‘plug the play’ with numbers until you get realistic results that make sense. Many businesses fail because the basic finances were never analysed, so they may have been doomed to fail from the start. Equally, a good financial plan is usually the platform to launch a profitable and successful business.

This course is not a substitute for accounting advice, which you should always obtain when establishing and managing a business venture.

The BSBESB407 course includes online learning modules and tests, useful workplace documentation, and a practical assessment for you to demonstrate your knowledge and understanding by documenting a financial strategy.

For more information on what the unit covers, see training.gov.au.

More details

This unit is a part of SHB50321, The Diploma of Cosmetic Tattooing.

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About this course

Who should complete this course?

This unit is a business elective unit for the Diploma of Cosmetic Tattooing, SHB50321. The business electives provide a great opportunity for those completing their Diploma of Cosmetic Tattooing to establish foundational knowledge and skills required to operate, promote and run a business.

This unit of competency is designed to help business owners, both new and existing, build their finances to sustain a healthy business, this is one of the business elective units of the Diploma of Cosmetic Tattooing (SHB50321). As such, the customised examples used throughout the course all relate to a cosmetic tattoo business so that the educational material, tips, and guidance can be directly applied. The course content can be used for businesses ranging from a sole trader start-up, through to a larger established business looking to improve financial performance.

BSBESB404 Market New Business Ventures is also offered as a part of the Diploma of Beauty Therapy, Certificate IV in Marketing and Communication, Certificate IV in Fitness, and more.

The diploma is designed to suit all cosmetic tattooists, from the experienced professional wanting to expand their skills with the strongest possible qualification, through to the beginner wanting to kick-start their career with a depth of knowledge that is the new industry benchmark.

This unit is therefore designed for:
• Cosmetic Tattooists
• Beauty Therapists wishing to become Cosmetic Tattooists
• Individuals with no prior industry experience wanting to become a Cosmetic Tattooist

Expected course outcome/s?

• Statement of attainment for this unit on completion*
• Knowledge of workplace processes and procedures for developing marketing objectives, identifying market trends and communicating marketing strategies to those involved
• Address market and business needs through optimising sales and profits, evaluating costs and benefits, determining customer needs and promotional activities
• Evaluating and analysing benefits of marketing strategies, monitoring customer satisfaction and conducting market analysis

*Our staff will assist you in every way they can to ensure you perform to the best of your ability and successfully complete your chosen training course. THink is however, unable to guarantee you will be issued with a certificate of completion nor obtain a particular employment outcome.

Please note, a statement of attainment will only be issued if a unit is completed as a standalone unit. A statement of attainment cannot be issued upon completion if undertaking as a part of larger qualification (e.g. Diploma of Cosmetic Tattooing).

How is this course delivered?

This course is delivered online, allowing you to complete the training in your own time, at your own pace. There is around 20 hours worth of online theory involved.

Students have 3 months to complete the course and can complete it anytime within the timeframe. The 3 months includes working through all the theory, tests, and assignments.

Are there any specific course requirements?

The Practical Assessment requires students to document a financial strategy.

Students will need to ensure access to the following:
• Internet access
• Computer/tablet/smart phone/or laptop for the online content and submissions

Students assessment conditions requirements are as follows:
• A workplace or simulated environment where the conditions are typical of those in a working environment in this industry.
• Business technology, including software for analysis of data
• Workplace documentation and resources relevant to performance evidence

What is the enrolment process?

The following applies if you are undertaking this unit as a single unit of competency. If you are completing The Diploma of Cosmetic Tattooing, you should have already completed the following process and will not need to do so again.

Enrolments are only be handled during business hours Monday to Friday, 9am to 5pm.

You will receive a link to the Student Enrolment Form via your confirmation email after purchasing the course. Alternatively, you can also use the following link for the Student Enrolment Form.

For more information regarding our courses, please refer to our Student Manual.

What support is available to me?

We offer trainer support via email and phone during work hours.

If you need any assistance please do not help to contact us and we will try to assist as best as we can.

Nationally Recognised Training

THink Aesthetics | RTO 45188

As a Registered Training Organisation (RTO 45188), THink Aesthetics is approved to provide Nationally Accredited Training Certificates within our defined course scope. Details on courses that THink Aesthetics is approved to provide can be found on training.gov.

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