Create Your Gym Invoice Template for Engineering Effortlessly

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Gym invoice template for Engineering

Creating a gym invoice template for Engineering can streamline your billing process and ensure accurate invoicing. Using tools like airSlate SignNow, you can enhance efficiency through easy electronic signatures and intuitive document management. Follow the steps below to effectively use airSlate SignNow for your gym invoicing needs.

Gym invoice template for Engineering: Step-by-step guide

  1. Open the airSlate SignNow website in your preferred browser.
  2. Register for a free trial or sign in to your existing account.
  3. Upload the document you wish to sign or send for signature requests.
  4. If you plan to use the document again, convert it into a template.
  5. Access your document to make necessary edits such as adding fillable fields or inserting relevant data.
  6. Sign the document and create signature fields for the recipients.
  7. Click on 'Continue' to configure and send out your eSignature invitation.

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With transparent pricing and no hidden fees, you can trust that you’re getting a fair deal. Take advantage of the outstanding 24/7 support available for paid plans and simplify your invoicing process today!

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Gym invoice template for Engineering

hey if you're looking to create a set of financial projections for a gym then you have come to the right place so whether this is for a potential SBA loan application or maybe potential investors and you need to put together a set of projections or even if it's just for internal planning this template is going to be a good fit for you so we have put together a template that's going to give you 5 years of a projected income statement cash flow statement and balance sheet uh broken down by annual and monthly level detail which're just going to provide everything you would need in terms of what a SBA lender would be expecting or even a potential investor would look to see now this particular template is kind of our generic gym template and you you'll be able to see as I walk through it how you can use it for membership based gyms as well as kind of class-based or personal training based gyms kind of any mix of those should work well with this template I'll show you how to uh fill it out so before I dive into the details of the template just a couple of details one if you go to the description of the video below you'll be able to find a link to the template so you can grab that and follow along as you go through the process here and the second thing is if you stick around to the end of the video as I thank you for for sticking around and hearing me talk through this maybe that not the most exciting uh spreadsheet topic here as a thank you though if you stick around to the end we are going to give you access to a discount code that you can use to take a discount on this particular template and then the last thing before I dive in here just a little bit of background on me so I spent a little over 12 years as the executive director of an SBA lender uh and we made over 1500 SBA Loans during my time there and so I I come to this process of creating projections with that kind of lender H that lender perspective also many of our clients that were getting a loan were also raising capital from investors and so we we kind of have that experience on on both sides here so with that out of the way let's go ahead and dive into the model here so I am starting here on the add a glance Tab and this is kind of the end of the process so after you filled out all the input assumption tabs you're going to see a an add a glance tab with a profit and loss at a glance and some other key ratios some some key data points kpis things like whether you're breaking even or not in the year how many members you're going to need in order to break even what's your annual turn rate of members customer or member lifetime value value here so key key metrics that will be important to you as a gym owner we also have some other graphs and tables here that will be helpful to put into a business plan or into a pitch deck um so you'll also get a 5-year income statement summary 5year cash flow summary a 5year balance sheet and then that income statement cash flow balance sheet all broken down by month for each of the 5 years so that's the end of the process U let's start going through kind the input assumption tabs here step by step so the first thing you need to know is that any assumption in blue is an assumption that you can change without breaking anything in the model so I've got Adam's gym here we're going to start in January January 1 start date for the opening cash balance if we're going to assume in this example that this is a startup and that you don't have any you haven't you know started yet so you don't have cash in the bank right now of the business let's say you are going to make a personal investment in into helping start the business of 25,000 in month one so if that's if that's something you haven't already made that investment then you'd want to put month one here if you have already received investment or already made investment in the past you could put month zero all right so on the accounts receivable terms this you can probably just leave this the way it is this is basically just saying hey you're going to get paid when you provide the service so you're not going to let people to come to a class or you know have a whole membership and then pay at the end like at the end of the month or something like that you're not giving terms to your customers you're probably having them pay upfront when you provide the service or at the beginning of the month now on the accounts payable side this is when you pay your bills so here you might have some expenses that you put on a credit card and then you pay that credit card off at the end of the month that's a perfect example for this kind of 20% here that maybe some of your expenses are paid on on one month delay but let's say most of your expenses 80% % are going to be paid in the month that the expense is incurred let's say you have some inventory so maybe some merchandise protein powders snacks drinks that sort of thing you can have some initial inventory here and then I would probably just leave this 10% here because what this is going to do is just make sure that you have some inventory on the balance sheet each month and it kind of automatically replenishes and as you grow the amount of inventory that you need will also probably grow and so we'll just kind of if you make get a percentage it'll automatically grow with you fixed assets so let's say you are leasing a space but you need to do $225,000 of leasehold improvements so that could be you know painting that could be putting up a new wall that could be you know laying down some new flooring those sorts of Renovations or remodeling that's what you'd want to put here and then if you have some gym equipment have $50,000 budgeted for gym equipment again we put that all in month one we put a life expectancy of 10 years meaning this the equipment or these assets are going to depreciate over that 10year life and then we have an SBA loan down here of 75,000 we can set an interest rate and a term here and then ultimately this table is going to tell you after you fill all of the other assumptions out your revenue and expenses do you have enough cash to break even do you have enough is your cash sufficient so let's go ahead and look at our Revenue tab here so based on the size of your dream you might be able to estimate how many members you think you'd be able to have kind of maximum number of members so we set that at 800 and then for a monthly advertising spend let's say we put in a monthly ad spend of $500 we think it's going to cost $200 to attract one new member uh so you can see then how many new gym members we're getting from Paid advertising So based on the assumptions we have in here in this example not very uh not very many new members from the paid advertising efforts we're assuming most of the new gym members are going to come from this line the word of mouth social media organic search that sort of thing and so you'll also notice in this line that the first 24 months here we have highlighted in blue meaning you can you know manually adjust how many new members you think you're going to get and and what we're doing here you know we're assuming when you first start up hopefully you've kind of built up before you even open your doors you've built up a a following of people that want to sign up as members on day one so let's say the first few months maybe 75 50 and 50 new members each month and then maybe it kind of uh settles out more at a at a lower level 15 members a month but then in that second year we hit January everyone's got New Year's resolutions they went hit the gym and so we expect hey we're going to jump back up to 75 new members in the month of January and then kind of Trail back off to a normal level now what we do going forward here in month 25 and in the Years following you'll notice it is following that same seasonal pattern so it's looking at the same month of the prior year using that as the Baseline for the new members so it'll follow that you know January seasonal pattern but we actually have here a negative 10% growth rate after month 24 so the idea here is that over time it's going to be harder and harder to find new members kind of all the members that have would be interested in coming to your gym have now heard about you and and so you're kind of saturating the market and so over time it's probably going to get harder to actually bring in new members and we'll kind of reach that steady state of you know of members for the gym we also have a turn rate so this is the percentage of members each year that are going to cancel or leave so we set that at a third here 33% and then this row is going to calculate based on your turn rate and the new members you're getting how many active members you have each month from there you can set your different membership or service types so so we've got an annual membership a monthly membership we have a pay per class option A Class pack option so this could be for like yoga classes or group fitness classes boot camp classes and then you can have you know one-on-one personal training as an option here now for personal training pay per class or monthly you'd want to put in one month for the period for annual you'd obviously want to put in 12 months and then for the class pack you want to estimate how many months you think it's going to take for the average person that buys a class pack to utilize those classes so we're saying six six months here on average now we now put in our actual different membership plans cuz you could have you might have multiple annual membership plans right like you could have a membership type that is annual but you could have like a you know kind of unlimited annual membership plan and maybe a more limited basic annual membership plans but they could still both be annual and so that's that's the reason this kind of feels repetitive here but that's because you might have you know multiple monthly plans multiple annual plans and different price points you can set the price points here and then the percentage of regular members or users that are utilizing each of these services now you'll might add this up and think okay this should add up to 100% but it if you look it actually adds up to 110% and that is on purpose here for this example sake because we are assuming that maybe this personal training this extra 10% of personal training that's above and beyond so it might be that you only do personal training for somebody who has an annual or monthly membership so that's really like an add-on so You' really expect you know this this group these first four buckets here to kind of represent the 100% of members and personal training is kind of an add-on from there you could really think of it could be that classes are an add-on as well so it might be you have membership as a base and then you know classes are even above and beyond that as well so there could be some reason why this should be over 100% from there you want to say how many classes or sessions are going to be attended per month on average for each of these levels we can set a 2% or we can set an annual price increase and then down here you'll notice we can set the average spots per class so what this is going to do is based on these assumptions up here we are going to know how many class spots are going going to be utilized so in this first month 705 class spots we have 25 spots per class so that math works out that we need 6.5 class times per week in order order to have enough slots open for that now something I really want to point out up here this total cash collected versus total membership and class Revenue so you'll notice that cash collected is much higher than Revenue so this is a an accounting thing so tune out if you don't care about the accounting but this I I think this is important from a cash flow perspective so when you have annual memberships you're going to collect all of that cash upfront or even with class packs that are going to be spent over six-month period you're you're going to collect the cash up front but you are not going to earn the revenue all at once so we're collecting in this first month 43,000 in cash but we're only earning 10,500 in Revenue so the way you're going to earn that revenue on any annual membership the way the model is going to work is it's going to have you earn that Revenue 11 12th at a time you know or if you had a quarterly plan it' be you know every month for that quarter you'd earn a third of the total revenue for the quarterly plan right so it's going to PR rate across the the period of time and you're going to earn that over time so that's the reason there's a big difference here between cash flow and and your and your net income or your or your Revenue that you're actually earning so keep that in mind cash is King here so you want to want to make sure that cash flow works is kind of the first priority I think and then looking at whether the how the the net income looks is kind of secondary here okay so you have other Revenue here food and drink you could have merchandise or other just kind of a catchall other Revenue you can set you know what percentage of your users or regular members are going to buy food and drink a month how often per month what's their average purchase amount and so we have you know kind of an immaterial amount of Revenue in for both of those buckets here but it is um something you may want to model or maybe more material in your uh business model okay so that is it on on the revenue tab on our other expenses tab here so you might have some opening marketing expenses here let's say for just the first three months then the rest of these operating expenses might be more monthly expenses you'll notice in year two these these numbers increase it is applying a uh a inflation rate so you'll want to you want to be aware of that the other thing to note is you can set expenses as a fixed dollar amount or a percentage of Revenue in this case we're going to have this as a percentage of Revenue here uh 3% for credit card processing fees we also have I want to draw your attention to this class coach commission or instructor commission so if you have a class-based gym and you and that's maybe the the classes are primary revenue driver and you're paying a commission on that now keep in mind this is a percentage of total revenue so you know you be careful with with how you utilize that if you are going to use a commission type structure here for coaches or instructors all right so you can also enter in salaried position so if we want to say okay we're going to have these coaches here they're going to get a base salary of 45,000 annually uh maybe some benefits maybe not here's what month they're starting and then how many of that employee do we have so in this case we're saying we're going to start with two coaches in month one and a front desk worker and then in month 13 here we're going to add a marketing director and a gym manager and some other part-time coaches and so on so you can kind of see how you can layer in and grow your Staffing over time you can provide an annual raise here as well okay so that brings us back to where we started our out of glance tab so yeah if you need help filling this out if you're kind of you gone through that and you're like you know what I just want somebody else to fill this out for me that is something that we can help with we we have a template fill out service so feel free to reach out to us at support projection hub.com we'd be happy to help you with that if you would like we're also happy to just answer any questions that you have so again reach out to our support email address and then uh as promised as a thank you for sticking around here to the very end of the video uh wanted to give you access to that coupon code so if you go down to the description of the video below there'll be a link to a form you want to fill out that form and we are going to email you our most upto-date and current uh uh discount code that you can use at checkout when you buy this template so that's our thank you to you and if you thought the video was helpful at all we'd love it if you if you subscribe to the channel like the video that really helps us get the word out there so we appreciate that and happy to help in any way we can all right thanks [Music] [Applause]

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