Basic Sales forecast projections are a fundamental part of a business plan, and should support all other components of your plan, including your market analysis, product offerings, and marketing plan. Hence, Use these templates to estimate future sales, and ensure the numbers align with the sales numbers provided in your income statement.
Sales Forecast Meaning
Use this template to project the sales of a specific product. Gather historical and industry sales data to generate monthly and yearly estimates of the number of units sold and the price per unit. Then, the pre-built formulas will calculate percentages automatically. Therefore, You’ll also find details about which months provide the highest sales percentage, and the percentage change in sales month-over-month.
How to Create Forecast
Every Business Needs One
Sales Forecasting is the process of estimating what your business’s sales are going to be in the future. A forecast period can be monthly, quarterly, half-annually, or annually.
So, Sale forecasting is an integral part of business management. Without a solid idea of what your future sales are going to be, you can’t manage your inventory or your cash flow or plan for growth. Henceforth, The purpose of sales forecasting is to provide information that you can use to make intelligent business decisions.
Sales Forecast Example
For example, if your forecast indicates a 30% increase in sales of products or services. You may wish to begin searching for larger business premises and hire additional staff to meet the demand. Conversely, a forecast of shortfalls in sales can allow you to mitigate the effect by taking advance measures such as reducing expenses or reorienting your marketing efforts.