Business Plan Financials|Quick homework help
Posted: February 15th, 2023
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.
| 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 |
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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 |
SOLUTION
Business plan financials are a crucial part of any business plan as they provide an estimate of the financial resources required for starting or running a business, as well as the expected financial performance of the business over a specified period. Here are some of the essential components of business plan financials:
- Revenue Projections: This is an estimate of the expected revenue a business will generate over a specified period. It should be based on market research and realistic sales targets.
- Cost of Goods Sold (COGS): This is the cost of producing or purchasing the goods or services that a business sells. It includes costs such as raw materials, labor, and production expenses.
- Gross Profit: Gross profit is the revenue a business earns minus the cost of goods sold. It provides an idea of the profitability of a business before considering other expenses.
- Operating Expenses: These are the day-to-day expenses of running a business, such as rent, salaries, utilities, and marketing costs.
- Net Profit: This is the revenue a business earns minus all expenses, including operating expenses, taxes, and interest expenses.
- Cash Flow Statement: This provides an overview of the inflow and outflow of cash in a business over a specified period. It includes cash from operations, investments, and financing activities.
- Break-Even Analysis: This is an analysis of the point at which a business’s revenue equals its total costs, indicating the minimum level of sales required to cover costs.
- Capital Requirements: This is an estimate of the amount of funding required to start or grow a business, including initial investments and working capital.
These are some of the essential components of business plan financials. It is crucial to ensure that the financial projections are realistic and supported by market research and industry trends. Additionally, it is essential to update the financial projections regularly and adjust them as necessary to reflect changes in the business environment.
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