Sport Clips is a fast-growing sport-themed men’s hair salon with over 1,700 locations throughout the U.S. in all 50 states and Canada! Whether you are looking to sell a franchise or purchase a Sport Clips of your own, you will need to have financial projections prepared for investors, lenders, etc.

In order to help you with these financial projections, we at ProjectionHub have developed a template specifically for Sport Clips franchises within our web application at ProjectionHub.com.

This blog post will walk you through how to use our web application to successfully create detailed, yet easy-to-read financial projections.

Signup Instructions

1. Feel free to learn more about ProjectionHub in general before signing up.
2. You can sign up for a free trial by selecting the “Sport Clips” template here.
3. If you have any questions about the model as you go, please email support@projectionhub.com.

General Business Info

Once you sign up and confirm your account you will be asked to complete some general business info as seen below:

Adding the Sport Clips Business Model

Once you save the general business info, you will be able to add a business model.  If you don’t already see a Sport Clips Business Model added on this page, you can click the add Business Model button as seen below to add your first Sport Clips unit.

Sport Clips Revenue

Next you can click the orange button to Add Revenue to get started with your sales projections.

You will now have 2 options as you see in the image below:

1.  You can click “Add Revenue” which will give you the ability to add projected revenue numbers for each month for your store.
2.  Or you can click “Add Google Sheet Revenue”.  We have created a special Google Spreadsheet template specifically for Sport Clips franchises that will give you more control in terms of adding assumptions for your average ticket price and number of customer orders each month.
3. If you decide to utilize our Google Sheet template please see this guide on how to enable the Google Sheet Integration.  You can see a screenshot of the Google Sheet below:

Sales will vary from one location to the next, so if you need to go in and change assumptions in the Google Sheet, the blue highlighted cells are assumptions that can be changed to reach more accurate projections customized for your business.

Sport Clips Expenses

Once you complete your revenue projections you can move on to your expenses.  There are 2 primary types of expenses:

1.  Startup Expenses
2.  Ongoing Operating Expenses

Sport Clips Startup Costs

This list of startup expenses and financial requirements comes from SportClipsFranchise.com

As you know more about your specific costs you can update these numbers. Some of the items listed as startup expenses should be entered as expenses on month 1 and some are actually cash spent on assets like:

• Leasehold improvements
• Equipment
• Buildings

If you have any of these types of expenses you will want to add them later as an “Asset” instead of an “Expense” on this page.

Sport Clips Operating Expenses

On the Expenses page in ProjectionHub you will be able to add/update your operating expenses.  You will notice that the Expense page will come with a number of standard expense line items along with a default monthly expense for most of the line items.  Obviously you can change any of these default expenses to reflect your specific situation.

Some expenses will be a % of your total sales, instead of a fixed monthly amount.

So as you see in the image above you can click the check boxes next to those expense categories and then in the drop down box you can select “Apply Industry Ratios” and then click “Apply”.

ProjectionHub is assuming a 6% of sales ratio for Sport Clips royalty fees.

So when you click “Apply Industry Ratios” the system will take your projected sales and multiply by 6% to come up with your royalty expense for example.

Sport Clips Assets

Next you can move on to the assets section.  You will notice that the Assets page comes pre-loaded with the default assets that you might have as a Sport Clips franchise owner.

To add an asset, hover over the row, see the 3 dots on the left of the asset name, hover over, and click edit.

Next you will be able to add your Kitchen Equipment as an example. You can enter in the details of your assets as seen below:

Sport Clips Loans

Next you can move to the Liabilities page and add a loan.  If you are going to borrow to help fund your startup costs, you can “Add a Liability” as seen below:

You can then enter the details of your loan or other liability:

Sport Clips Investors

Next you can add any personal investment you will be making as well as investment from outside investors.

One common situation may be that you pay the $59,500 franchise fee with your personal investment.  In the example below we assume that you paid the $59,500 franchise fee as a personal investment, and we selected that the investment was pre-existing which means that the projections will assume that you already paid the $59.5k prior to the projections starting, so this will show up on your opening balance sheet as equity.

Reports

Once you enter in all of your assumptions you will be able to review a number of reports.  Here is a sampling of some of the reports, tables below:

On the Dashboard page you will be able to download your projection Income Statement, Balance Sheet and Cash Flow projections to share with your lender or investor.

Adding Multiple Sport Clips Units

Finally, let’s assume you want to add another Sport Clips store in the future.  All you need to do is go back to the “Business Model” page and add another “Sport Clips” business model.  You can then label it Sport Clips Unit 2 and you can repeat the process.  You can add as many units as you would like over time.

Again, you can get started by creating a ProjectionHub free trial account today.

As you complete your projections please don’t hesitate to reach out to us with questions at support@projectionhub.com

Good luck!

Anytime Fitness is ranked number 17 on Entrepreneur.com‘s list of the top 500 franchises in 2018. It is a fast-growing fitness franchise, adding 231 gyms inside and outside the U.S. in the last year alone!

If you are in the process of acquiring an Anytime Fitness franchise, or have already done so, you will need a solid way to create the financial projections for your business. These projections will be looked at by potential investors or lenders whom you need to help finance your startup. We at ProjectionHub want to help you accomplish this task! We have created a financial projection template specifically for Anytime Fitness, and this blog post will show you exactly how to use this tool!

1. Sign up for ProjectionHub using the Anytime Fitness template

1. Feel free to learn more about ProjectionHub in general before signing up.
2. You can sign up for a free trial.
3. If you have any questions about the model as you go, please email support@projectionhub.com

2. Add your business info

Once you sign up and confirm your account you will be asked to complete some general business info as seen below:

Adding the Anytime Fitness Business Model

Once you save the general business info, you will be able to add a business model.  If you don’t already see an Anytime Fitness Business Model added on this page, you can click the add Business Model button as seen below to add your first Anytime Fitness unit.

3. Add your Revenue

Next you can click the orange button to Add Revenue to get started with your sales projections.

You will now have 2 options as you see in the image below:

1.  You can click “Add Revenue” which will give you the ability to add projected revenue numbers for each month for your store.
2.  Or you can click “Add Google Sheet Revenue”.  We have created a special Google Spreadsheet template specifically for Anytime Fitness franchises that will give you more control in terms of adding assumptions for your sales projections.
3. If you decide to utilize our Google Sheet template please see this guide on how to enable the Google Sheet Integration.  You can see a screenshot of a portion of the Google Sheet below:

Also, the revenue model assumptions may need updated specifically for your business to make the financial projections more accurately suited to your unit of Anytime Fitness.

4. Add your expense projections

Once you complete your revenue projections you can move on to your expenses.  There are 2 primary types of expenses:

1.  Startup Expenses
2.  Ongoing Operating Expenses

If you wish to view a complete list of startup expenses straight from the Anytime Fitness website.

Some of the items listed as startup expenses should be entered as expenses on month 1 and some are actually cash spent on assets like:

• Leasehold improvements
• Equipment
• Buildings

If you have any of these types of expenses you will want to add them later as an “Asset” instead of an “Expense” on this page

Anytime Fitness Operating Expenses

On the Expenses page in ProjectionHub you will be able to add/update your operating expenses.  You will notice that the Expense page will come with a number of standard expense line items along with a default monthly expense for most of the line items.  Obviously you can change any of these default expenses to reflect your specific situation.

Some expenses may be a % of your total sales, instead of a fixed monthly amount.

So as you see in the image above you can click the check boxes next to those expense categories and then in the drop down box you can select “Apply Industry Ratios” and then click “Apply”. ProjectionHub is using a ratio of 12% of sales for Anytime Fitness Personal Training labor.

So when you click “Apply Industry Ratios” the system will take your projected sales and multiply by 12% to come up with your Personal Training labor expense for example.

5. Add your assets

Next you can move on to the assets section.  You will notice that the Assets page comes pre-loaded with the default assets that you might have as an Anytime Fitness franchise owner.

To add an asset, hover over the row, see the 3 dots on the left of the asset name, hover over, and click edit.

Next you will be able to add your Machinery And Equipment as an example. You can enter in the details of your assets as seen below:

6. Add your liabilities

Next you can move to the Liabilities page and add a loan.  If you are going to borrow to help fund your startup costs, you can “Add a Liability” as seen below:

Then, you can go ahead and insert the details of the loan or other liability that you have acquired.

7. Add investors

Next you can add any personal investment you will be making as well as investment from outside investors.  One common situation may be that you pay the $42,500 franchise fee with your personal investment.  In the example below we assumed that you paid the $42,500 franchise fee as a personal investment, and we selected that the investment was pre-existing which means that the projections will assume that you already paid the $42.5k prior to the projections starting, so this will show up on your opening balance sheet as equity.

8. Review your financial projection reports

Once you enter in all of your assumptions you will be able to review a number of reports.  Here is a sampling of some of the reports, tables below:

On the Dashboard page you will be able to download your Income Statement, Balance Sheet and Cash Flow projections to share with your lender or investor.

Adding Multiple Anytime Fitness Units

Finally, let’s assume you want to add another Anytime Fitness gym in the future.  All you need to do is go back to the “Business Model” page and add another “Anytime Fitness” business model.  You can then label it Anytime Fitness–unit 2 and you can repeat the process.  You can add as many units as you would like over time.

Again, you can get started by creating a ProjectionHub free trial account today.

As you complete your projections please don’t hesitate to reach out to us with questions at support@projectionhub.com and check out our gym membership excel template.

Good luck!

CPR – Cell Phone Repair is a fast growing franchise, ranked # 26 on Entrepreneur’s list of top 500 franchises for 2018.  CPR added 111 new franchise units in the last 12 months to bring the total # of units up to nearly 400 by the end of 2017.

If you are looking to open a new CPR franchise you may be looking to get financing from a bank, and banks often ask for a set of financial projections for a new startup.  In fact, the SBA requires at least 1 year of cash flow projections for all new businesses when applying for an SBA loan.

So in an effort to help you create your projections, we have developed a specific financial template for CPR franchises using our tool – ProjectionHub.  Below is a guide to use the CPR template.

1. Sign up for ProjectionHub using the CPR template

1. Feel free to learn more about ProjectionHub in general before signing up.
2. You can sign up for a free trial by selecting the “CPR – Cell Phone Repair” template here.
3. If you have any questions about the model as you go, please email support@projectionhub.com

2. Add your business info

Once you sign up and confirm your account you will be asked to complete some general business info as seen below:

Adding the CPR Business Model

Once you save the general business info, you will be able to add a business model.  If you don’t already see a CPR Business Model added on this page, you can click the add Business Model button as seen below to add your first CPR unit.

3. Add your Revenue

Next you can click the orange button to Add Revenue to get started with your sales projections.

You will now have 2 options as you see in the image below:

1.  You can click “Add Revenue” which will give you the ability to add projected revenue numbers for each month for your store.
2.  Or you can click “Add Google Sheet Revenue”.  We have created a special Google Spreadsheet template specifically for CPR franchises that will give you more control in terms of adding assumptions for your sales projections.
3. If you decide to utilize our Google Sheet template please see this guide on how to enable the Google Sheet Integration.  You can see a screenshot of a portion of the Google Sheet below:

Also, the revenue model assumptions may need updated specifically for your business to make the financial projections more accurately suited to your unit of CPR.

4. Add your expense projections

Once you complete your revenue projections you can move on to your expenses.  There are 2 primary types of expenses:

1.  Startup Expenses
2.  Ongoing Operating Expenses

If you are creating a set of projections for a startup CPR location, this list of startup expenses and ranges comes directly from CPR – Cell Phone Repair’s website.

Some of the items listed as startup expenses should be entered as expenses on month 1 and some are actually cash spent on assets like:

• Leasehold improvements
• Equipment
• Buildings

If you have any of these types of expenses you will want to add them later as an “Asset” instead of an “Expense” on this page.

CPR’s Operating Expenses

On the Expenses page in ProjectionHub you will be able to add/update your operating expenses.  You will notice that the Expense page will come with a number of standard expense line items along with a default monthly expense for most of the line items.  Obviously you can change any of these default expenses to reflect your specific situation.

Some expenses may be a % of your total sales, instead of a fixed monthly amount.

So as you see in the image above you can click the check boxes next to those expense categories and then in the drop down box you can select “Apply Industry Ratios” and then click “Apply”. ProjectionHub is using a ratio of 8% of sales for CPR’s royalty fee based on the information found on Entrepreneur.com.

So when you click “Apply Industry Ratios” the system will take your projected sales and multiply by 8% to come up with your royalty fee for example.

5. Add your assets

Next you can move on to the assets section.  You will notice that the Assets page comes pre-loaded with the default assets that you might have as a CPR franchise owner.

To add an asset, hover over the row, see the 3 dots on the left of the asset name, hover over, and click edit.

Next you will be able to add your Machinery And Equipment as an example. You can enter in the details of your assets as seen below:

6. Add your liabilities

Next you can move to the Liabilities page and add a loan.  If you are going to borrow to help fund your startup costs, you can “Add a Liability” as seen below:

Then, you can go ahead and insert the details of the loan or other liability that you have acquired.

7. Add investors

Next you can add any personal investment you will be making as well as investment from outside investors.  One common situation may be that you pay the $25,000 franchise fee with your personal investment.  In the example below we assumed that you paid the $25,000 franchise fee as a personal investment, and we selected that the investment was pre-existing which means that the projections will assume that you already paid the $25k prior to the projections starting, so this will show up on your opening balance sheet as equity.

8. Review your financial projection reports

Once you enter in all of your assumptions you will be able to review a number of reports.  Here is a sampling of some of the reports, tables below:

On the Dashboard page you will be able to download your Income Statement, Balance Sheet and Cash Flow projections to share with your lender or investor.

Adding Multiple CPR Units

Finally, let’s assume you want to add another CPR store in the future.  All you need to do is go back to the “Business Model” page and add another “CPR – Cell Phone Repair” business model.  You can then label it CPR – Cell Phone Repair–unit 2 and you can repeat the process.  You can add as many units as you would like over time.

Again, you can get started by creating a ProjectionHub free trial account today.

As you complete your projections please don’t hesitate to reach out to us with questions at support@projectionhub.com

Good luck!

Franchises are a great way for individuals who have a passion for entrepreneurship to get their feet wet, and, if successful, to become seasoned business owners.

At ProjectionHub, we are aware that not everyone who purchases a franchise is trained or educated in business techniques, accounting principles, or financial modeling. You may not even have a business degree! That’s what we are here for! We are in the process of developing financial modeling templates for specific franchises to help you make business decisions based on your financial projections, whether you’ve just bought your first franchise or your fifty-first.

What we need from you are suggestions/requests of franchises for which we can build financial modeling templates.  Fill out the form below to request for us to build a financial model template for your franchise.