Overwhelming Retailer Response to Inaugural Financial Boot Camp
Parable® Training Seminar a Huge Success
San Luis Obispo, CA — More than 45 retailers from around the nation gathered at the first Parable® Financial Boot Camp held September 22 and 23, 2005 in Chicago. The two-day training seminar provided a platform for retailers to explore in-depth and gain better understanding of financial issues and risks facing independent Christian retailers. "This is by far the best seminar I have ever attended. I plan to go again in March," said Ken Hite, owner of the Kansas-based Christian Book and Gift stores. Other attendees, like Parable New Life Bookstore owner Carol Rees from Elgin, Illinois commented, "In 27 years of business, this is the best training I've had on finances."
"The theme of the seminar was Managing and Financing Independent Business. It represents a subject of extremely high relevance to our quest for strengthening the financial foundation of our member and franchise stores, especially under the increasing challenges and competitions in today's retail industry," said Steve Adams, Parable Franchise Operations Director and organizer of the boot camp workshop. "Clearly, the financial needs of the independent Christian retailer have become more demanding," noted Adams.
Using real-life case studies, boot camp presenter Steve Abercrombie, President of Business Resource Services, Inc., showed attendees how two companies that looked like they were all but out-of-business were able to make a turn-around and are still thriving today. Rather than being afraid of what financial statements may say, Abercrombie encouraged Parable® store owners to "dig deep" to find out how to run a more profitable business using industry specific ratios to guide a store's decisions.
"Parable takes great interest in offering stores this kind of training as financial reporting becomes more sophisticated. Many retailers are just beginning to recognize the growing importance of having a firm handle on finances," says Steve Potratz, Parable founder and CEO. "This kind of boot camp strives for a better understanding of the principles and tenets underlying solid financial practices."
Throughout the event, Parable® executives were on hand to answer questions and to consult with Parable® retailers. The boot camp was offered free to all Parable® member and franchise stores and is part of the Parable® business development initiative promoting awareness and understanding of relevant issues in the Christian retail industry. Parable is working on the development of a similar financial boot camp seminar to be taught in Atlanta next spring, March 22 to 23, 2006.
The Parable® family of companies includes: The Parable Group, providing catalogs and comprehensive marketing services to independent, locally-branded Parable Members nationwide; Parable Franchising, offering a nationally-branded turnkey business plan for opening and operating new and existing Christian retail stores; and Parable Interactive, serving as a ministry partner hosting hundreds of web sites. Parable, America's Leading Christian Retailers®, is based in San Luis Obispo, CA.
