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6 | First Forecast Period | Feb-24 | Blue Numbers | Fill in | Note: Make a a Copy of this sheet if you're logged into Google. Download to Excel if not | |||||||
7 | Currency | $ | Black Number | Formulas | ||||||||
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9 | Assumptions & Inputs | Units | Feb-24 | Mar-24 | Apr-24 | May-24 | Jun-24 | Jul-24 | Aug-24 | Explanation | ||
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11 | Customer Channels Forecast | Feb-24 | Mar-24 | Apr-24 | May-24 | Jun-24 | Jul-24 | Aug-24 | This section is used to estimate how many new customer you expect to acquire each month. For each section– organic reach, paid advertising, email subscriber and other channel– you can fill in your estimated reach and expected conversion rate. This will then give you the estimated number of customers per channel. To get the most out of this, compare the actual performance after each month is over so you can improve your estimates over time. You can easily add more channels to this by inserting new rows. Just make sure the total "New Customers" row includes your added channel. | |||
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13 | Organic Customers | |||||||||||
14 | Sessions | # | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | |||
15 | Conversion Rate | % | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% | |||
16 | Customers | # | 30 | 30 | 30 | 30 | 30 | 30 | 30 | |||
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18 | Paid Ads | |||||||||||
19 | Monthly Spend | $ | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | |||
20 | Cost per Click | $ | 3 | 3 | 3 | 3 | 3 | 3 | 3 | |||
21 | Conversation Rate | % | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | |||
22 | Customers | # | 42 | 42 | 42 | 42 | 42 | 42 | 42 | |||
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24 | Email List | |||||||||||
25 | List Size | # | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | |||
26 | Monthly Emails | # | 4 | 4 | 4 | 4 | 4 | 4 | 4 | |||
27 | Click Through Rate | % | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% | |||
28 | Conversion Rate | % | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | |||
29 | Customers | # | 20 | 20 | 20 | 20 | 20 | 20 | 20 | |||
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31 | Other (i.e,. Influencers/Affiliates) | |||||||||||
32 | Other sessions | # | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | |||
33 | Conversation Rate | % | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% | |||
34 | Customers | # | 50 | 50 | 50 | 50 | 50 | 50 | 50 | |||
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36 | New Customers | # | 142 | 142 | 142 | 142 | 142 | 142 | 142 | |||
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38 | Revenue Forecast | Feb-24 | Mar-24 | Apr-24 | May-24 | Jun-24 | Jul-24 | Aug-24 | This section estimates your total revenue per product. In this example, it is divided over a High-Ticket product and a Low-Ticket product, but you can change this however you'd like. For each product, you can fill in the % of newly acquired customers that will purchase it, and what % of the previous months customers are expected to purchase it again. Next you'll fill in the average order quantity, return rate and the Average Order Value (price) to come to the Revenue per Product. If you add more products to this, make sure that the "Total Revenue" row includes this. | |||
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40 | High-Ticket Product | |||||||||||
41 | % of New Customers | % | 20% | 20% | 20% | 20% | 20% | 20% | 20% | |||
42 | % Return Customers | % | 20% | 20% | 20% | 20% | 20% | 20% | 20% | |||
43 | Number of Customers | # | 28 | 34 | 35 | 35 | 35 | 35 | 35 | |||
44 | Average Order Quantity | # | 1 | 1 | 1 | 1 | 1 | 1 | 1 | |||
45 | % of Returns | % | 10% | 10% | 10% | 10% | 10% | 10% | 10% | |||
46 | Average Order Value | $ | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | |||
47 | Revenue | $ | 252,000 | 306,000 | 315,000 | 315,000 | 315,000 | 315,000 | 315,000 | |||
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49 | Low-Ticket Product | |||||||||||
50 | % of New Customers | % | 80% | 80% | 80% | 80% | 80% | 80% | 80% | |||
51 | % Return Customers | % | 40% | 40% | 40% | 40% | 40% | 40% | 40% | |||
52 | Number of Customers | # | 113 | 159 | 177 | 184 | 187 | 188 | 189 | |||
53 | Average Order Quantity | # | 1 | 1 | 1 | 1 | 1 | 1 | 1 | |||
54 | % of Returns | % | 10% | 10% | 10% | 10% | 10% | 10% | 10% | |||
55 | Average Order Value | $ | 500 | 500 | 500 | 500 | 500 | 500 | 500 | |||
56 | Revenue | $ | 50,850 | 71,550 | 79,650 | 82,800 | 84,150 | 84,600 | 85,050 | |||
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58 | Total Revenue | $ | 302,850 | 377,550 | 394,650 | 397,800 | 399,150 | 399,600 | 400,050 | |||
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60 | Cost Forecast | Feb-24 | Mar-24 | Apr-24 | May-24 | Jun-24 | Jul-24 | Aug-24 | In this section you can estimate the costs you will have on a monthly basis. Keep a close eye on this to make sure you run a profitable store. For the "Cost of Goods Sold" section, you can make a simple estimate of the cost per product. We now estimate this as a % of its revenue for simplicity. You can make a more complete cost tracker to be precise. The "Staff Expenses" list the monthly total compensation for your team members. You can add more rows to this, but make sure this is included in the Total Salary Expense row. For "Overheads & Admin" and "Other Expenses" you can fill in all remaining costs you have. If any specific costs are very large it will be worth to split this out in a separate cost tracker. | |||
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62 | Cost of Goods Sold | |||||||||||
63 | High-Ticket % of Rev | % | 50% | 50% | 50% | 50% | 50% | 50% | 50% | |||
64 | Low-Ticket % of Rev | % | 35% | 35% | 35% | 35% | 35% | 35% | 35% | |||
65 | Platform/Payment Fees | % | 5% | 5% | 5% | 5% | 5% | 5% | 5% | |||
66 | Total Cost of Goods Sold | $ | 158,940 | 196,920 | 205,110 | 206,370 | 206,910 | 207,090 | 207,270 | |||
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68 | Staff Expenses | |||||||||||
69 | Salary & Comp Staff 1 | $ | 4,000 | 4,000 | 4,000 | 4,000 | 4,000 | 4,000 | 4,000 | |||
70 | Salary & Comp Staff 2 | $ | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | |||
71 | Salary & Comp Staff 3 | $ | 9,000 | 9,000 | 9,000 | 9,000 | 9,000 | 9,000 | 9,000 | |||
72 | Salary & Comp Staff 4 | $ | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | |||
73 | Salary & Comp Staff 5 | $ | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | |||
74 | Total Salary Expenses | $ | 31,000 | 31,000 | 31,000 | 31,000 | 31,000 | 31,000 | 31,000 | |||
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76 | Overheads & Admin | |||||||||||
77 | Rent & Facility Expenses | $ | 4,000 | 4,000 | 4,000 | 4,000 | 4,000 | 4,000 | 4,000 | |||
78 | Software & Subscriptions | $ | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | |||
79 | Office Supplies | $ | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | |||
80 | Advertising Spend | $ | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | |||
81 | Other Admin Exp % of Rev | % | 5% | 5% | 5% | 5% | 5% | 5% | 5% | |||
82 | Total Overhead & Admin | $ | 29,143 | 32,878 | 33,733 | 33,890 | 33,958 | 33,980 | 34,003 | |||
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84 | Other Expenses | |||||||||||
85 | Sales Comissions % Rev | % | 5% | 5% | 5% | 5% | 5% | 5% | 5% | |||
86 | Legal & Accounting | $ | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | |||
87 | Other Expenses % Rev | % | 10% | 10% | 10% | 10% | 10% | 10% | 10% | |||
88 | Total Other Expenses | $ | 48,428 | 59,633 | 62,198 | 62,670 | 62,873 | 62,940 | 63,008 | |||
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90 | Total Expenses | $ | 267,510 | 320,430 | 332,040 | 333,930 | 334,740 | 335,010 | 335,280 | |||
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93 | Profit and Loss Statement | Units | Feb-24 | Mar-24 | Apr-24 | May-24 | Jun-24 | Jul-24 | Aug-24 | This is a simple Profit and Loss Statement. Here you can see the impact of all the assumptions that you have made about the number of customers you'll get, the number or products you'll sell and what costs you will have for doing so. If you can already see that profits are lower than need be, or that the performance might not be realistic, it is a clear sign that you need to take action. Use this as a first indicator, and then build it out from here. | ||
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95 | Total Income | |||||||||||
96 | High-Ticket Product | $ | 252,000 | 306,000 | 315,000 | 315,000 | 315,000 | 315,000 | 315,000 | |||
97 | Low-Ticket Product | $ | 50,850 | 71,550 | 79,650 | 82,800 | 84,150 | 84,600 | 85,050 | |||
98 | Total Revenue | $ | 302,850 | 377,550 | 394,650 | 397,800 | 399,150 | 399,600 | 400,050 | |||
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100 | Cost of Goods Sold |