If you’re looking to put together financial projections for your business plan, you’ll need access to some data. Where can you find the numbers you need?
There are a few different sources you can tap into. Industry average numbers are available from market studies, business brokers have access to databases of comparable sold businesses, and if you have a financial background, putting the projection together will be easier.
So where can you get numbers to write your business plan? Read on to find out.
Sources for Industry Average Numbers for Business Plan Financial Projections
Industry average numbers are available in market studies you can buy online at IbisWorld.com for example.
If you’re looking for numbers to help write your business plan, there are a few places you can look. One option is to buy a market study from a website like IbisWorld.com. These studies will provide industry average numbers that can be helpful in creating financial projections.
Accessing Business Broker Databases for Comparable Sold Business Data
Another option is to contact your local chamber of commerce or small business association. These organizations often have data on the local business climate that can be useful in putting together your business plan.
You can also try searching for industry specific statistical data on the internet. There are many government and private websites that offer this type of information for free or for a small fee.
No matter where you get your data, it’s important to make sure that it’s accurate and up-to-date before using it in your business plan. Outdated information can lead to inaccurate projections, which could put your entire plan at risk.
Business brokers have access to database of comparable sold businesses. That is a good source of information.
If you’re looking for numbers to help write your business plan, one source of helpful information can be found through business brokers. Many business brokers keep a database of comparable businesses that have sold in the past, which can provide you with some valuable data points to plug into your financial projections.
Of course, it’s always ideal to have a financial background when working on such projections. However, even if you don’t have extensive experience in this area, the data from business broker databases can still be helpful in giving you a better understanding of what to expect.
Importance of Accurate and Up-to-Date Data in Business Plan Financial Projections
When considering using this type of data, it’s important to remember that every business is unique and therefore the numbers will not be an exact match for your situation. However, they can still give you a general idea of trends and patterns that may be useful in forecasting your own business’s future.
Putting the projection together is easier with a financial background.
Collaborating with a Professional Business Plan Writer for Accurate Projections
If you have a background in finance, putting together financial projections for your business plan will be much easier. You’ll be able to understand the data and put it into context more easily. Even if you don’t have a finance background, you can still put together projections by working with a professional business plan writer. It’s important to remember that every business is unique and the numbers won’t be an exact match, but they can still give you a general idea of trends and patterns.