A financial plan template is an important document that includes an estimate of funds or capital required for a personal or business projects or for the business as a whole i.e, starting up a new business etc. Whether the project under consideration is of a personal or business nature, a financial plan will help you a great deal and enable you to come up quickly with a proper plan to perform or complete that particular task or project. A financial template is an important part of financial planning. Hence, for that purpose, some professionals like to use an editable financial plan template so that they can edit and use it to for any future project.
In order to start a new business, finance, funds or capital is always required. The financial plan template must include the details of availability of such funds or finance and how it will be utilized. It also includes all the relevant expenditures which must be properly analyzed and estimated. A summary of expenses that will be incurred must also be included in a financial plan template. In this article, you can easily get some best quality editable financial templates, that are given below.
Best Financial Plan Templates
Complete Financial Plan Template
Summarized Financial Plan Template
Official Financial Plan Template
Brief Financial Plan Template
Detailed Financial Plan Template
Blank Financial Plan Template
Project’s Financial Plan Template
Foundation’s Financial Plan Template
Monthly Financial Plan Template
Itemized Financial Plan Template
Sample Financial Plan Template
Personal Financial Plan Template
Special Financial Plan Template
University Financial Plan Template
Family Financial Plan Template
General Tips for creating an Effective Financial Plan Template
Following are some common tips for creating an effective financial plan template:
- Make sure you have analyzed and properly calculated your set-up costs. It is the cost that will occur necessarily. So, when you estimate it, you can identify whether or not you a loan is required.
- Estimate your other expenses and estimate your sales in order to know the profit or loss. The sales can be estimated on monthly, quarterly or yearly basis. This way you can easily set your sales targets, increase or decrease profit margins and adjust many other factors etc.Use industry or market analysis to base your estimations.
- Do not restrict to just the profits in accounts or books. Sometimes the businesses which show good profits in books, may run out of resources like cash. Your business must always show liquidity to some extent. For this purpose, you should prepare a proper projected cash flow statement, that will help you determine the liquidity of your business.
- After making a projected cash flow statement, you should make a projected statement of financial position or balance sheet. Estimate what assets, liabilities and equity your business will have after completing its first year. With the help of a projected balance sheet, you can easily make an assessment regarding financial conditions and financial standing of your business after one year.
- A break even point of a business is where there is no profit or loss. You need to find this break even point for your business so that you can easily assess how much revenue you should generate in order to cover all the expenses of your business.
- While preparing a financial plan template, the most important thing to keep in mind is that you should base all your estimates on industry analysis, market norms and market standards.
More Financial Plan Templates
Updated Financial Plan Template
Example Financial Plan Template
Annual Financial Plan Template
Standard Financial Plan Template
Specific Financial Plan Template
Unique Financial Plan Template
Typical Financial Plan Template
10 Year Financial Plan Template
Detailed Financial Plan Template
Long Term Financial Plan Template
Proposal Financial Plan Template
Film’s Financial Plan Template
Formal Financial Plan Template
Business Financial Plan Template
Agreements Financial Plan Template
Importance of a Financial Plan Template
A financial plan template has following common benefits:
- A financial plan template saves you a lot of time and resources that you would waste otherwise, if you had no such plan at all.
- Through a financial plan template, you make sure that adequate funds or capital is available.
- A financial plan template is easy to use because you only require the necessary knowledge of your business in order to complete a financial plan.
- A financial plan maintains a proper balance of finance or funds so as to maintain stability.
- Through a financial plan, it is made sure that only that much loans or funds are borrowed which are required and no excess money is borrowed.
- The investors which are the suppliers of a necessary funds should be convinced by providing them your official financial plan.
- Unless or until some major changes have happened or some major events have incurred, a financial plan template plays a great role in minimizing the uncertainties which can overall affect the growth of your business.
