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Veterinary invoice template for Staffing

if you're looking to create a set of financial projections for a staffing agency or a recruiting agency then you've come to the right place we have put together a financial projection template built specifically for for staffing companies and recruiting agencies and so I'm going to walk you through how to fill this template out how it works uh and and how to get it ready for potential lenders investors if you're looking to raise Capital before I dive too far into that uh just a little bit of background my name is Adam putsima I'm the co-founder of projection hub and over the last decade we've helped over 50 000 entrepreneurs create Financial projections for potential investors and lenders and today we're specifically focused on this staffing agency template that we've put together I'm going to put a link in the description of the video below to the template so you can grab that and follow along also if you stick around to the end of the video as a thank you for sticking around with us we are going to give you access to a coupon code that you'll be able to get as a discount on the template as well so with that let's go ahead and dive in and I'll walk you through how this works okay so this is our at a glance tab so this is the kind of at the end of the projection process this is what you're going to get some high level charts and financial statement overviews some graphs break-even analysis and some key ratios here you're also going to get a five-year income statement summary five-year cash flow summary a five-year balance sheet summary and then an income statement cash flow statement and balance sheet statement all broken down by month for each of the five years so you get that monthly level detail if you need that as well as the annual summary data now in order to produce all these reports we have a little bit of work to do so I'm going to go back here to our input assumptions Tab and kind of walk you through the different input tabs here and so we can start out by just noting that any cell that's highlighted in light blue is an assumption so that you can change without breaking something in the model so you can put in your company name your projection start month you can add an inflation rate for operating expenses throughout the model you can add in a personal investment so this would be investment that you're putting in to the business we have set this at month zero so basically that means at the beginning of the model we're starting we're starting the company we're starting the projections here with uh twenty thousand dollar investment here accounts receivable so this is actually really important for uh staffing agency models a lot of times so you are likely to feel a cash flow Crunch and so you a lot of times you may have to if you're placing um employees so if you employ them and then you place them working for a different company right and so that's the model you'll often have to pay your employees before you get paid by your customer right and so a lot of times there is maybe a net 30 payment structure meaning 30 days within 30 days of providing the service or it may end up being even a bit longer because you may I'm not invoice till the end of the month so let's say your employees are working for a customer for the entire month at the end of the month you invoice or the beginning of the month you invoice for the prior month right and in the meantime you've been paying your employees now you have to wait you may have to wait 30 days or maybe even longer to get paid by your customer so that that's that accounts receivable terms and so what we're saying here by putting zero percent as paid a time of receipt of the service versus 100 paid on net 30. basically this just means that yeah you're gonna you're gonna have to wait and that makes a big impact on your cash flow which again might be why you're trying to get along so that is what this section means now on the inventory section uh you probably aren't going to have any inventory so that's why we have set these both to zero fixed assets probably not going to have a lot in the way of equipment or fixed assets maybe you have some maybe you have an office you did some office Renovations for fifteen thousand dollars so that's what we have said in there now maybe a couple computers um five thousand dollars and we have the ability to add in loans so we've got a loan here for seventy five thousand dollars 60 month term at nine percent and the payments will start on month one so you can add in multiple loans there now let's go to our input Revenue tab so the way that we have structured this is that there are kind of two different types of Revenue that you you can generate so this will work for situations where you are recruiting employees and then you employ them yourself and you place them in other companies to work so this could be like you know nurse staffing agency where you're you're placing nurses at different hospitals or you know for short stints right but you are the employer so this would be the situations we would consider like contract Revenue so your employment nurses or the whatever the employees are and placing them on different contracts and so you have the ability to put in the employee type so we're going to stick with this kind of medical example so we've got a travel nurse a billable rate so this is what you can bill your customer billable rate of 103 an hour and then the cost per hour this is what you're actually paying the nurse 65 an hour and now we say okay what number of billable hours per month for this employee type do we think we'll be able to build so we think we can Bill 100 hours on this contract in the month and so that will generate ten thousand three hundred dollars worth of Revenue and six thousand five hundred dollars worth of labor cost and so we have the ability to add in three different employee types so let's see we've got CT scan technicians here as well and then maybe just a catch all of other employees so you can you know put in those different categories of employees and the rates and whatnot so that's that's contract Revenue again where you are the employer and you're placing the employees on contract now there's another type of Revenue that you may may also do or may only focus on and that could be kind of recruit recruiting employees and then generating placement fees um and so this this example let's say you are recruiting software Developers for Salesforce and uh you you find a employee you place them Salesforce ends up hiring them in this case it's not a contract you're not going to get you're not going to employ that developer um Salesforce will actually employ them so you're going to get a one-time recruitment fee or one-time placement fee and that's usually based on their annual salary and then some percentage placement fee that you're going to get so we're saying okay let's assume that the average base annual salary is a hundred thousand and we're expecting a 37 placement fee 37 percent of the base salary is a placement fee and then we can put in each month the number of placements we think we're going to be able to place so we're estimating one per month so that gives us our recruitment placement Revenue and then maybe you have some cost of goods sold associated with that Revenue it may be that you really don't have much in the way of cost of goods sold it's different right than the contract Revenue above you're actually paying me employees right so you have that their hourly cost and this situation you probably don't have much but you have the ability to put in if for some reason you do have a cost of console here you can put in a percentage but you may just want to set this to zero depending on your model okay so that will then allow you to calculate here our projected contract revenue and recruitment placement as well as our cost of Labor down here okay so then we move on to our operating expense tab here you can enter in things like advertising costs counting background checks Insurance rent utility software sales commission so maybe you are you you have recruiters that you're employing and they're out there recruiting and when they place an employee they get a 10 commission for example and so the way that you have you can enter in different expenses here there's a drop down and you can select whether it's a fixed dollar amount or a percentage of total revenue or percentage of contract revenue or percentage of recruitment placement Revenue so for example let's say you only give sales commissions on recruitment placement Revenue so you have a recruiter they're out there every time they recruit someone and place them they get a 10 commission okay then you'd want to say select recruitment placement revenue and then you can put in 0.10 to represent 10 so that would be your 10 commission here now we can also add in salaried positions here on the salaries and owner draw tab and so you can say okay well we've got recruiter one and two and they're both going to get a base salary plus that 10 commission that they're they're eligible for and then maybe we also have a sales person that is trying to go win contracts so those that's another employee type that we might have you could also put in additional you know operational level salaries here as well okay and that really brings us back to our adegwains tab so that is kind of the end of the process you've created your projections now if you have any questions or you have a unique scenario that you need some help filling the template out or customizing it in some way please don't hesitate to reach out to us at support projectionhub.com be happy to help with that also as I had promised as a thank you for watching to the end of the video you can go down the description of the video below there'll be a link to a forum you fill out that form we will email you our most up-to-date coupon code so you'll be able to get a discount at checkout on this particular template as our thank you to you and again any questions at all please leave a comment in the comment section of the video below or reach out to us directly at support projectionhub.com thanks thank you [Applause] [Music] foreign