Complete all worksheets in the Business Plan Financials Excel Template using your business plan and the appropriate set of guidelines for the company. Completing all these worksheets will
Complete all worksheets in the Business Plan Financials Excel Template using your business plan and the appropriate set of guidelines for the company.
- Completing all these worksheets will enable you to finalize the Income Statement, Cash Flow Projections, and Balance Sheet worksheets in the Business Plan Financials Excel Template.
- You have already completed the Setup and Marketing Budget worksheets in your Marketing Plan and Budget assignment.
- Make any desired adjustments to these worksheets.
- Post a brief description of your business (no more than 3 sentences). Specify your company name, what business you are in, and the specific product(s) or service (s) you plan to sell.
EXCEL ATTACHED
Warning
| W A R N I N G ! | |||
| IT APPEARS THAT YOU DO NOT HAVE EXCEL'S MACRO CAPABILITY ENABLED. THESE FINANCIAL WORKSHEETS WILL NOT FUNCTION WITHOUT MACROS ENABLED. | |||
| Excel 2010 for Windows: To enable macros: 1. Click the "Enable Content" button in the Security Warning that appears at the top of this page. | |||
| If you do not see the "Security Warning" along the top of this page, scroll down for more detailed instructions, under "Excel 2010 and Excel 2013 on Windows – Enabling Macros" | |||
| Excel 2013& 2016 for Windows: To enable macros: 1. Click the "Enable Content" button in the Security Warning that appears at the top of this page. | |||
| If you do not see the "Security Warning" along the top of this page, scroll down for more detailed instructions, under "Excel 2010 & Excel 2013 on Windows – Enabling Macros" | |||
| Excel 2011 & 2016 for Mac: 1. A pop-up window appears. Select "Enable Macros". 2. Your workbook should now be ready to use. | |||
| Excel 2013 and Excel 2016 on Windows – Enabling Macros | |||
| Note: The procedure is exactly the same for Excel 2013 & 2016, even though the two versions look slightly different. 1. In the upper left corner of the Excel Ribbon, press the "File" tab. | |||
| 2. Select Options, in the lower left corner. | |||
| 3. Select Trust Center from the Lower Left. 4. Click the "Trust Center Settings…" button in the lower right | |||
| 5. Select "Macros Settings" from the left side menu 6. Select the "Disable all macros except digitally signed macros" radio button. 7. Click "OK" twice | |||
Your Company Name
Welcome
| Welcome to Business Plan Financials! | |
| Thank you for purchasing Business Plan Financials from PlanningShop. These worksheets will help you develop clear, compelling financial projections for your business. If you are unfamiliar with the business planning process, we encourage you to refer to our book, Successful Business Plan: Secrets & Strategies, by Rhonda Abrams, for comprehensive, step-by-step guidance. It is available through our website, www.PlanningShop.com. First, a few tips to get you started: SAVING A BLANK WORKBOOK, TO ALLOW FOR RECOVERY FROM MISTAKES You may start directly editing this file. If you later decide to start over and need a fresh copy of this file, find the blank "ORIG_PlanningShop_BizPlanFin(2.8)" file in your PlanningShop directory. Make a copy of this file (just in case you might need to start over yet again), and then start editing the copy. NAVIGATING THE WORKSHEETS You installed the Windows version of Business Plan Financials. The Excel Ribbon now contains a "PlanningShop" tab, that contains controls to let you navigate between worksheets. The PlanningShop Ribbon looks slightly different in Excel 2013 and Excel 2016, but the functionality is the same. | |
| Note that the riboon does not appear in Excel 2011 for Mac, due to limitations of that version of Excel. | |
| Excel 2013 for Windows, Excel 2016 for Windows, Excel 2016 for Mac: | |
| In Excel 2011 for Mac, there is no PlanningShop tab on the Excel Ribbon (Microsoft does not allow it). Instead, to navigate between worksheets and charts, use the Excel worksheet tabs along the bottom edge of the Excel window. | |
| HOW TO FILL IN THE WORKSHEETS Each worksheet is composed of "cells" containing either black text or blue text. All you need to do is enter data in the blue cells–the black cells are automatically calculated for you. | |
| While you work, keep an eye out for red triangles that appear with some cells on the worksheets. These triangles indicate the presence of a "help balloon" that will popup when you roll over the triangle, presenting you with additional information and tips about the section you are working on. | |
| FOR MORE HELP For more in-depth help and assistance,please refer to the companion PDF entitled "Business Plan Financials Help". It contains extensive information about each worksheet, along with a "Frequently Asked Questions" (FAQ). To get started, click on the right-pointing arrow in the PlanningShop toolbar to reach the "Setup and Assumptions" worksheet, where you'll enter some basic information about your business. | |
| About Our Support of Mac vs. Windows | |
| PlanningShop supports Business Plan Financials on the following platforms: | |
| Windows | |
| 1. Microsoft Windows10 with Microsoft Excel 2016 / Microsoft Office 365 | |
| 2. Microsoft Windows 8 or later with Microsoft Excel 2013 | |
| Mac | |
| 4 Mac OS X with Microsoft Excel 2016 | |
| 5. Mac OS X with Microsoft Excel for Mac 2011 | |
| Version 3.1 Copyright © 2003-2017 PlanningShop |
Setup
| Setup and Assumptions | |||||||||
| COMPANY INFORMATION | |||||||||
| What is your company's name? | |||||||||
| Yummy Yummy | |||||||||
| What month will you officially start your company? | January | ||||||||
| What year will you officially start your company? | 2023 | ||||||||
| SALES ASSUMPTIONS | |||||||||
| The Worksheets can accommodate sales projections for up to 10 major product/service lines. How many major product/service lines do you plan to have for your business? | Ten Sure Product Consulting: Many businesses sell hundreds or thousands of products. It would be overwhelming to create projections for every product you sell. So if you sell many products, think about how you can consolidate them into up to ten product "lines," and then base your projections on these groups of products instead of each individual product. |
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| Ten | |||||||||
| Most businesses sell at least some of their products/services on credit (e.g., "net 30" as opposed to cash). What percentage of your sales will be made on credit? | 25% Author: NOTE: for our purposes, this line should NOT include credit card sales, which are, effectively, cash sales because you receive payment in a matter days, not weeks. |
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| For sales you make on credit, what terms will you extend? In other words, how many days will pass from the date of sale to when you expect to be paid? | 30 Author: If, for instance, your terms will be "Net 30," put 30 here. You may enter Net 10, Net 15, Net 30, Net 60, Net 90, or Net 120. |
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| PERSONNEL ASSUMPTIONS | |||||||||
| Approximately how much do you expect to spend per year on benefits for each SALARIED/FULL TIME employee (medical insurance, etc.)? | $5,000 Author: This number should reflect the amount you will spend on ONE FULL-TIME employee–the worksheets will automatically multiply this amount by the total number of employees you expect to hire, as shown in the Staffing Budget worksheet (automatically adusting the numbers for full- and part-time employees accordingly). |
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| Approximately how much do you expect to spend per year on benefits for each HOURLY/PART-TIME employee (medical insurance, etc.)? | $1,200 Author: This number should reflect the amount you will spend on ONE PART-TIME employee–the worksheets will automatically multiply this amount by the total number of employees you expect to hire, as shown in the Staffing Budget worksheet (automatically adusting the numbers for full- and part-time employees accordingly). |
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| With health insurance and other benefits costing more each year, your plan should account for annual increases. How much do you estimate your benefit costs will increase each year? | 5.00% | ||||||||
| If you plan to increase wages (both salaried & hourly) on an annual basis, how much to you plan to increase them by? | 3.50% | ||||||||
| Approximately what percentage of each employee's salary or wages do you plan to set aside for payroll taxes? | 15.00% Author: If you're not sure what percentage to enter here, leave it at the default (15%). |
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| FINANCIAL ASSUMPTIONS | |||||||||
| What will be the opening balance in your bank account on the first day of business? This will be the opening balance in your Cash Flow Statements. | $5,000 Author: In general, this number will include money you plan to personally invest in the business. If you will be receiving loans or investment income from others, you can account for those on the upcoming Capital Investments worksheet instead of here. |
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| At approximately what rate do you expect to be taxed on your net income? | 25.00% Author: If you're not sure what percentage to enter here, leave it at the default (25%). |
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| Sure Product Consulting: Many businesses sell hundreds or thousands of products. It would be overwhelming to create projections for every product you sell. So if you sell many products, think about how you can consolidate them into up to ten product "lines," and then base your projections on these groups of products instead of each individual product. | If you will use an interest-bearing account for your banking, at what rate will you accrue interest? | 1.00% Author: If you're not sure what percentage to enter here, leave it at the default (1.00%). |
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| Author: NOTE: for our purposes, this line should NOT include credit card sales, which are, effectively, cash sales because you receive payment in a matter days, not weeks. | Author: If, for instance, your terms will be "Net 30," put 30 here. You may enter Net 10, Net 15, Net 30, Net 60, Net 90, or Net 120. | Author: If you're not sure what percentage to enter here, leave it at the default (15%). | Author: This number should reflect the amount you will spend on ONE FULL-TIME employee–the worksheets will automatically multiply this amount by the total number of employees you expect to hire, as shown in the Staffing Budget worksheet (automatically adusting the numbers for full- and part-time employees accordingly). | Author: In general, this number will include money you plan to personally invest in the business. If you will be receiving loans or investment income from others, you can account for those on the upcoming Capital Investments worksheet instead of here. |
Setup & Assumptions
SalesProj
| Sales Projections Author: For information about this worksheet, see the chapter "Marketing Plan & Sales Strategy" in Successful Business Plan: Secrets & Strategies. |
2023 | 2024 | 2025 | 2026 | 2027 | |||||||||||||||||||||||||||||||||||||||
| Assumptions | January | February | March | April | May | June | July | August | September | October | November | December | TOTAL | January | February | March | April | May | June | July | August | September | October | November | December | TOTAL | 1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | TOTAL | 1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | TOTAL | ||||||||
| Product Line 1 Author: Change the text in this cell to reflect the name of a major product, product line or service your firm will offer. |
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| Unit Volume | 2.00% Author: MONTHLY VOLUME GROWTH RATE The Worksheets automatically increase the volume in each month on this line using the rate you enter here. You can also enter each cell's value by hand, if you prefer, which makes sense if you need to show ups and downs in sales due to seasonal fluctuations, etc. |
0 Author: Enter the number of units you expect to sell during this month. If you are running a service-based company charging on an hourly basis, enter the number of billable hours you expect you and your employees to work during this month. If you will be selling your service on a per-project basis, enter the number of projects you expect to sell during this period. |
0 Sure Product Consulting: As a convenience, the Worksheets will automatically copy the number you put in the prior cell into this cell. However, you should feel free to overwrite the copied number with whatever makes more sense for your business. |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 Author: Note that in year three we use quarterly numbers, not monthly numbers–so make sure you enter your amounts accordingly! |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||
| Unit Price | 2.50% Sure Product Consulting: YEARLY PRICE GROWTH RATE This cell shows how much you plan to increase prices each year. It is not per month because consumers typically don't stand for frequent price changes. After one full year, we increase the unit price by X%, then again after 2 years, etc. The default is 2.5% per year, close to inflation rates). As a convenience, the Worksheets can automatically increase the unit price for each month using the rate you enter here. You can also enter each cell's value by hand, if you prefer, which makes sense if you need to show ups and downs in sales due to seasonal fluctuations, etc. |
Sure Product Consulting: As a convenience, the Worksheets will automatically copy the number you put in the prior cell into this cell. However, you should feel free to overwrite the copied number with whatever makes more sense for your business. | $0.00 Author: Enter your sales price for each unit here. If you are running a service-based company, enter your hourly rate or approximate per-project rate. |
$0.00 Author: As a convenience, the Worksheets will automatically copy the number you put in the prior cell into this cell. However, you should feel free to overwrite the copied number with whatever makes more sense for your business. |
$0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
