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The course and workbook have received financial support from Federal Community Project Funds & Associated Bank.  \nThe nationwide SBDC network is funded in part by the Small Business Administration (SBA) and was established by the SBA in 1980 with legislation written by Wisconsin Senator Gaylord Nelson. Since that time, our office-and SBDC offices across the state and nation-have supported thousands of entrepreneurs across industries through individual consulting and educational opportunities.  \nCompleting this workbook is not a quick process; expect to spend multiple hours working through the course material and researching your answers to the questions presented here. However, if you do take the time, you will walk away with the key inputs you need for a projections template. By understanding the financial viability of your business, you can refine your plan as appropriate and share your ideas effectively with a commercial lender. Even if you do not plan to seek funding, completing this course and workbook will increase your confidence in your business’ financial picture and better position you to make educated financial decisions moving forward.  \n2 | BEGINNER ’S GUIDE TO FINANCIAL PROJECTIONS WORKBOOK | UW-MADISON SMALL BUSINESS DEVELOPMENT CENTER  \nWORKBOOK TABLE OF CONTENTS  \n4 | Section One: Introduction to Financial Projections 4 • 1.1 When Do You Need Projections?  \n4 • 1.2 Who Will View Your Projections?  \n5 • 1.3 Key Financial Statements  \n7 | Section Two: Business Model  \n7 • 2.1 Common Business Models  \n8 • 2.2 Common Tools for Documenting Your Business Model  \n10 • 2.3 Business Model Readiness for Projections  \n12 | Section Three: Revenue Forecasting  \n12 • 3.1 Revenue Streams & Units of Sale  \n15 • 3.2 Projected Number of Units Sold: Market Size & Share  \n15 • 3.2a Sizing Your Market: Clarifying Your Approach  \n17 • 3.2a(i.) Sizing Your Market for Existing Business Expansions/Purchase, Franchise Purchases  \n18 • 3.2a(ii.) Sizing Your Market for New Businesses (Non-Franchise)  \n19 • 3.2b Sizing Your Market: Identifying Measurable Customer Characteristics  \n20 • Sizing Your Market Example: Determining Feasibility  \n21 • 3.3 Projected Number of Units Sold: Capacity Considerations  \n21 • 3.4 Projected Number of Units Sold: Connecting Your Business Plan to Your Projections  \n24 • 3.5 Projected Number of Units Sold: Seasonality  \n26 • 3.6 Pricing  \n28 | Section Four: Estimating Costs  \n28 • 4.1 Start-up Costs  \n30 • 4.2 Operating Expenses: Variable Expenses & Cost of Goods Sold (COGS)  \n31 • 4.3 Operating Expenses: Fixed Expenses  \n33 • 4.4 Special Considerations: Estimating Employee Wages with Labor Tables  \n34 • 4.5 Special Considerations: Owner Compensation  \n36 | Section Five: Financing Your Business  \n36 • 5.1 Identifying Funding Sources  \n37 • 5.2 Understanding Your Credit Report & Credit Score  \n38 • 5.3 Borrower Expectations  \n39 • Your Next Steps  \nBEGINNER ’S GUIDE TO FINANCIAL PROJECTIONS WORKBOOK | UW-MADISON SMALL BUSINESS DEVELOPMENT CENTER | 3  \nSECTION 1:  \nINTRODUCTION TO FINANCIAL  \nPROJECTIONS  \nFinancial Projections are an estimate of future financial outcomes for a new business or a new project in an existing business.  \nA set of projections typically covers a three-year time horizon and includes three standard financial statements and an exhibit that demonstrates the sources and uses of funds. These documents include:  \n• Profit and Loss Statement  \n• Cash Flow Statement  \n• Balance Sheet  \n• Sources and Uses of Funds (the Balance Sheet is occasionally used for this purpose as well.)  \nThe contents of these statements are based on your business model, any known historical financial data, and a series of","cbCaihPDZaBj6yvS","https://ap.wps.com/l/cbCaihPDZaBj6yvS","pdf",1498850,39,"English","# Section One: Introduction to Financial Projections\n## 1.1 When Do You Need Projections?\n## 1.2 Who Will View Your Projections?\n## 1.3 Key Financial Statements\n# Section Two: Business Model\n## 2.1 Common Business Models\n## 2.2 Common Tools for Documenting Your Business Model\n## 2.3 Business Model Readiness for Projections\n# Section Three: Revenue Forecasting\n## 3.1 Revenue Streams & Units of Sale\n## 3.2 Projected Number of Units Sold: Market Size & Share\n## 3.6 Pricing\n# Section Four: Estimating Costs\n## 4.1 Start-up Costs\n## 4.2 Operating Expenses: Variable Expenses & COGS\n## 4.5 Special Considerations: Owner Compensation\n# Section Five: Financing Your Business\n## 5.1 Identifying Funding Sources\n## 5.2 Understanding Your Credit Report & Credit Score\n## 5.3 Borrower Expectations","[{\"question\":\"What are financial projections and what do they typically include?\",\"answer\":\"Financial projections estimate future financial outcomes for a new business or new project. They typically cover a three-year horizon and include profit and loss, cash flow, and balance sheet statements plus an exhibit showing sources and uses of funds.\"},{\"question\":\"When should a business complete financial projections?\",\"answer\":\"Projections are triggered by common events such as starting a new business, purchasing an existing business, or expanding an existing business. They are also recommended to validate whether moving forward is financially sensible, even without seeking outside funding.\"},{\"question\":\"Who uses financial projections and how?\",\"answer\":\"Owners use projections to assess feasibility, identify missing information, and estimate funding needs. Lenders review projections in a uniform way to compare the proposed plan against industry data and lending standards.\"}]","BEGINNER’S GUIDE TO FINANCIAL PROJECTIONS WORKBOOK - SBDC | PDF"]