Video
Instructional Level: Beginner

Accreditation Information:

Course Outline:

Hour 1

  • Discuss the options for massage practice financial goals
  • Discuss the importance of goal monitoring and ways to make the monitoring easier
  • Explain the difference between a balance sheet and an income statement
  • Discuss revenue, expenses, profit, variable costs, fixed costs, assets, liabilities, and equity
  • Discuss the organization of a financial plan
  • Discuss the calculation of startup costs, margin of safety, and breakeven points
  • Discuss the funding sources of savings, commercial loans, and family

Hour 2

  • Discuss the benefits of renting when first starting a practice or to decrease expenses
  • Discuss the difference between a flat fee and revenue sharing lease
  • Discuss different payment options available
  • Explain the importance of upfront payment, a no show policy and refunds
  • Discuss why gift certificates and prepayment are liabilities
  • Explain how to differentiate a practice from the competition without using pricing

Hour 3

  • Discuss the need for petty cash
  • Describe the process of reconciling collections
  • Explain the importance and calculation of a reserve account
  • Discuss how to deal with financial fluctuations and seasonality
  • Discuss how reserve accounts should be used for startup practices
  • Discuss the difficulties of implementation
  • Explain the usefulness of having a financial plan available in your practice

Hour 4

  • Discuss how and when to calculate expenses, revenue, profit, and client visits
  • Explain the limitations of using profit as a predictor of business growth
  • Discuss how to identify and what to do in the event of a downtrend
  • Explain how to conduct a cost-benefit analysis by breaking down the production of a strategy and its direct and indirect costs
  • Discuss the role business statistics have in your financial reputation
  • Explain the process of reviewing and revising the financial plan
  • Discuss the interaction of technology and finance and the corresponding safe practices

Author

Stephan Shipe, Ph.D., CFA

Mastering Massage Therapy Practice Finances

Mastering Massage Therapy Practice Finances

4 Hours Instructional Level: Beginner
Video
Delivery Type
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$65

Description:

Finance can be a challenging and intimidating topic for any massage practice owner. Mastering Massage Practice Finances was created to help massage therapists navigate the financial waters of business. By learning techniques to plan, implement, and quantify financial decisions, massage therapists will have a better understanding of the financial side of their already existing or yet to be established practice.

 

Full Course Description
Finance can be a challenging and intimidating topic for any massage practice owner. Mastering Massage Practice Finances was created to help massage therapists navigate the financial waters of business. By learning techniques to plan, implement, and quantify financial decisions, massage therapists will have a better understanding of the financial side of their already existing or yet to be established practice. 

Goals & Objectives:

Course Goals:

This course is intended to instruct the professional on the financial side of their already existing or yet to be established practice.

Professional Objectives:

  1. Recognize the importance and process of setting financial goals
  2. Identify the basic components of a financial statement
  3. Recognize the components of a clear financial plan and the steps needed to calculate any numeric component
  4. Identify the advantages and disadvantages of funding sources for both startup and established businesses
  5. Identify different location options available for your practice
  6. Select the client-specific financial policies
  7. Identify how and why these policies should be implemented in a financially stable practice
  8. Select the business based financial policies
  9. Identify how and why these policies should be implemented in a financially stable practice
  10. Identify a reserve account and how it should be used
  11. Recognize how to incorporate your Financial Plan into the day to day operations of your practice
  12. Identify the steps needed to conduct regular statistical analysis on your business including business metrics such as revenues, expenses, and profit
  13. Locate business statistics to make business decisions and revise the financial plan
  14. Identify the benefits of utilizing technology when working with business finances and the components of safe online banking

 

Goals & Objectives:

Course Goals:

This course is intended to instruct the professional on the financial side of their already existing or yet to be established practice.

Professional Objectives:

  1. Recognize the importance and process of setting financial goals
  2. Identify the basic components of a financial statement
  3. Recognize the components of a clear financial plan and the steps needed to calculate any numeric component
  4. Identify the advantages and disadvantages of funding sources for both startup and established businesses
  5. Identify different location options available for your practice
  6. Select the client-specific financial policies
  7. Identify how and why these policies should be implemented in a financially stable practice
  8. Select the business based financial policies
  9. Identify how and why these policies should be implemented in a financially stable practice
  10. Identify a reserve account and how it should be used
  11. Recognize how to incorporate your Financial Plan into the day to day operations of your practice
  12. Identify the steps needed to conduct regular statistical analysis on your business including business metrics such as revenues, expenses, and profit
  13. Locate business statistics to make business decisions and revise the financial plan
  14. Identify the benefits of utilizing technology when working with business finances and the components of safe online banking

 

Disclosures:

SEMINAR-ON-DEMAND 

"Seminar-On-Demand" course are streamed on your web browser if the online version if purchased. Our SODs are optimized for the most current versions of Safari, Google Chrome or Mozilla Firefox. All SOD courses are mobile ready.

Contact Hours: 4 contact hours in length (check your state’s approval status in the state specific course catalog for your profession).

Target Audience: Massage Therapist

Instructional Level: Beginner

Criteria for Completion: Criteria for Completion: A score of 70% or more is considered passing. Scores of less than 70% indicate a failure to understand the material and the test will need to be taken again until a passing score has been achieved

Personnel Disclosure:

Financial – Stephan Shipe is employed by Wake Forest University and receives a salary. He receives payment from HomeCEU for the presentation of this course.

Nonfinancial - no relevant nonfinancial relationship exists.

Content Disclosure: This course does not focus solely on any specific product or service

Cancellation Policy: For activity cancellation, returns, or complaint resolution, please contact us by email help@homeceu.com or by phone at 1.800.55.4CEUS (2387). We have a 100% satisfaction guarantee. Refunds will be issued for courses that have not been completed (exam not taken), or for any course that has been rejected by your board of approval. Webinar attendance must be canceled 24 hours before the scheduled start time.

Disclosures:

SEMINAR-ON-DEMAND 

"Seminar-On-Demand" course are streamed on your web browser if the online version if purchased. Our SODs are optimized for the most current versions of Safari, Google Chrome or Mozilla Firefox. All SOD courses are mobile ready.

Contact Hours: 4 contact hours in length (check your state’s approval status in the state specific course catalog for your profession).

Target Audience: Massage Therapist

Instructional Level: Beginner

Criteria for Completion: Criteria for Completion: A score of 70% or more is considered passing. Scores of less than 70% indicate a failure to understand the material and the test will need to be taken again until a passing score has been achieved

Personnel Disclosure:

Financial – Stephan Shipe is employed by Wake Forest University and receives a salary. He receives payment from HomeCEU for the presentation of this course.

Nonfinancial - no relevant nonfinancial relationship exists.

Content Disclosure: This course does not focus solely on any specific product or service

Cancellation Policy: For activity cancellation, returns, or complaint resolution, please contact us by email help@homeceu.com or by phone at 1.800.55.4CEUS (2387). We have a 100% satisfaction guarantee. Refunds will be issued for courses that have not been completed (exam not taken), or for any course that has been rejected by your board of approval. Webinar attendance must be canceled 24 hours before the scheduled start time.