Help Me With Sign Pennsylvania Banking Business Plan Template

Help me with industry sign banking pennsylvania business plan template

well my name is Paul barosky and I am the owner of quality business plan and I'm here to bring you all our business plan writers tip number 66 which is assumptions the mother of all mistakes also the starting point for a financial forecasting and what I mean by this is when you're going to do your financial projections keep in mind they're always going to be wrong you know and the reason this is is you know if you put it in the term something like this if you think about what you're gonna have for lunch next Thursday well you know you really don't know I've been doing this business plan writing and you know being an author for the last eight years and I still cannot project what I'm going to be making next Thursday accurately so you know the chances of a startup company being able to project their financial forecast for a year and five years accurately is it's just not going to happen however when you're making your financial forecast is instead of just willy-nilly making up numbers if you follow some kind of rhyme or reason or assumptions then you have some kind of justification as to you know the validity not the accuracy but the validity of your financial statements and so with that said when I'm writing my business plans I'm for my clients and even myself I always put a financial projection I'm section into the firearm into the business plan and the financial section is if you notice this on page 35 for at least this business plan and that's because I put my financial projections towards the end of all my business plans you've got to tell the story first before you can go ahead tell them results and thus what you have to explain your whole business in the totality before you tell them you know what would your financial needs are gonna be and what your financial expectations are gonna be so you set up the story you tell them the story first then you did your projections you introduce it and then you go to your assumptions and for the assumptions you're kind of telling them you know what are the parameters of this you know of the story of your financial projections for example for the assumptions for this for this particular company it's going to be I always start my financial projections with you know let them know that these are just you know foreseeable expectations of management you know these are not hard core numbers we don't know what's gonna happen in the future and then I go ahead in a detail exactly what the growth rates going to be for I'm gonna use for the sales because if I couldn't you know justify you know it you know a reasonable growth rate and you know again reasonable is also subjective but what is an a reasonable growth rate and I like to do 3% to 5% every month for the first year and then after that you know taper the sales growth down to you know a half a percent or less per month for the following 24 months and then I just let them know you know the variable cost of goods you know approximately what those are gonna be a lot of industries they have a standard set of you know what the expectations are for cost of goods for example the restaurant industry is very popular with you know if you're doing 30 percent you're doing average for the cost of goods sold however if you can push it down closer to 25 to 28 percent you're doing better four bars is a lot better you're looking at 20 percent to 18 percent cost of goods and so on and so forth so make sure you outline what your cost of goods are that way if you're dealing with a knowledgeable investor or a knowledgeable bank or lender they're able to see that your expectations are in line with their you know statistics show then tell them kind of how you're gonna be doing your advertising you know what's yours you should advertise and budget where do you starting off with and what do you expected to grow to you know for this example right here a thousand dollars a month and you know per yard they're gonna kick it up one percent again you know this is fluctuating this is a ballpark you're not married to this right here if you don't get the cells that you want you're gonna you'll kick up your advertising if you're getting a little overwhelmed then you're gonna scale up a kind of a deal next also touch on your tax rate you know with the new tax cuts has just come along you know my assumptions are going to be that you know that it's going to be about 20 percent I'm if this if tax has changed and again of course my assumptions gonna change initial funding I was touching on with initial funding expectations are gonna be again this is an assumption ballpark it might be a little bit more might be a little bit less but it's a starting point and then start and then finally end up with your you know your cash balance how much money do you need for the working capital one of the biggest problems that startups have is they don't set enough side for enough they don't sit up as they don't set up enough money for working capital working capital is how you're going to fund your operations how you're gonna pay your employees when you start off how you're gonna pay your rent and you start off you know buddy costly your variable cost your lettuce you tickles you tomatoes if you're a restaurant or you know your bicycle frames and bicycle tires if you're putting together bikes I'm so on and so forth make sure you have sufficient working capital out just to make sure you're gonna have give yourself enough time to generate the brand you know recognition and your areas they'll start billing up with customers and so on and so forth so hopefully this information was helpful as to how you're gonna start your financial on projections section and if you only some help writing your business plan I'm give me a call if you need some you know guidance I start in the business I've got some local books out I'm sort of publish on Amazon one is starting the business it's like playing the video video game app so if you start a business check that out and if you need some help raising funds for your small business you need some money to get operations going I've got a book on that as well complete small business guide to raising funds in 2019 and if you all need some help analyzing financial statements or financial ratios I've got books on those as well so check me out on Amazon and like I said if y'all need some help right in the business plan out here it's my number and don't be a stranger give me a shout thank you