Updating Your Organization Procedures:
The Upper Hand Budget Template is a 12-month budget projection. Whether you know exact figures on a monthly basis or 12-month annual basis, you will be able to use the template to get a good feel for your cash flow. If you mainly know what your revenues and expenses are on an annual basis, just divide them by 12 and input the same number for each month. For example, if your business does $12,000 in lesson sales annually, you can add $1,000 for each month, January through December.
Only edit the yellow-colored cells in the template. When you type in data here, our template will automatically start calculating the key line items for you, like subtotals, totals, etc.
Using the 5 Budget Template Sections:
Section 1: Revenue from Services & Products
Services Revenue provides line items for any service you provide like 1 on 1 lessons, group lessons, camps, rentals, etc., where you can input revenue generated from each. Of course if you do not offer a service on the template, just leave it blank. Or if you offer another service not listed, just replace one of the services we have listed with your own.
Product Revenue is very much like services revenue except now you are going to add revenue from any product sales. Things like training equipment, uniforms, apparel or vending sales.
Section 2: Cost of Goods Sold
More commonly referred to as, COGS, here you want to add any expenses related to the sale of services or products. These expenses are directly tied to producing the service or product. For example, the cost of uniforms for your team or tournament entry fees, would be a cost of goods sold.
Section 3: Operating Expenses
These are expenses that are critical to operate your business like Upper Hand sports software, website hosting, facility insurance, internet & telephone, etc.
Section 4: Other Expenses & Non-Cash Expenses
This section relates to amortization of franchise fees, other intangible amortization and depreciation. Accounting for these line items can create more complexity, yet is still simple to understand with some explanation. Submit to talk with us and get a free financial analysis for your sports business.
Section 5: Average Revenue per Client Metrics
Use this section to add the number of clients who participate and register for various services to see a quick calculation of the average revenue per client for your sports business. We also break down the average revenue per client for each service to help you see where your business is the most efficient.
Get the Upper Hand
You can take control of your business with Upper Hand’s built-in financial intelligence and reporting. Making better business decisions will be easy when you see details of each transaction, track check and cash payments, know which events are generating the most revenue and understand what percentage of your business comes from each training type.