Developing Financial Forecasts for a Business Plan Kim Hostetler Subbu Kumarappan.
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Transcript of Developing Financial Forecasts for a Business Plan Kim Hostetler Subbu Kumarappan.
![Page 1: Developing Financial Forecasts for a Business Plan Kim Hostetler Subbu Kumarappan.](https://reader035.fdocuments.net/reader035/viewer/2022072014/56649eaa5503460f94bafe0b/html5/thumbnails/1.jpg)
Developing Financial Forecasts for a Business PlanKim HostetlerSubbu Kumarappan
![Page 2: Developing Financial Forecasts for a Business Plan Kim Hostetler Subbu Kumarappan.](https://reader035.fdocuments.net/reader035/viewer/2022072014/56649eaa5503460f94bafe0b/html5/thumbnails/2.jpg)
So, you want to start a business
• Having a great idea is not enough!• Everything needs to be put together in a
business plan or business model.
![Page 3: Developing Financial Forecasts for a Business Plan Kim Hostetler Subbu Kumarappan.](https://reader035.fdocuments.net/reader035/viewer/2022072014/56649eaa5503460f94bafe0b/html5/thumbnails/3.jpg)
Financial Forecasting - Pro Forma Financial Statements
• Allow us to plan and budget• Planning is crucial for success•Where are we headed?• Did we get there?• Need to know• Revenue projections• Inventory purchases• Variable & Fixed costs
![Page 4: Developing Financial Forecasts for a Business Plan Kim Hostetler Subbu Kumarappan.](https://reader035.fdocuments.net/reader035/viewer/2022072014/56649eaa5503460f94bafe0b/html5/thumbnails/4.jpg)
Overview of Financial Statements
Income Statement
Revenues - Expenses Net income Balance Sheet
Assets = Liabilities + Owner’s Equity
Statement of Cash Flows
Cash Inflow - Cash Outflow Net Cash Flow
![Page 5: Developing Financial Forecasts for a Business Plan Kim Hostetler Subbu Kumarappan.](https://reader035.fdocuments.net/reader035/viewer/2022072014/56649eaa5503460f94bafe0b/html5/thumbnails/5.jpg)
Financial Forecasting - Pro Forma Financial Statements, continued
• This can be a daunting task!• Using Excel can make it easier
![Page 6: Developing Financial Forecasts for a Business Plan Kim Hostetler Subbu Kumarappan.](https://reader035.fdocuments.net/reader035/viewer/2022072014/56649eaa5503460f94bafe0b/html5/thumbnails/6.jpg)
Making your forecasts realistic
• Compare with industry averages• RMA• BizMiner• IBIS World•Meet with Industry Experts
![Page 7: Developing Financial Forecasts for a Business Plan Kim Hostetler Subbu Kumarappan.](https://reader035.fdocuments.net/reader035/viewer/2022072014/56649eaa5503460f94bafe0b/html5/thumbnails/7.jpg)
Questions?• Kim Hostetler, [email protected], 330-287-1256
• Subbu Kumarappan, [email protected], 330-287-1261