NYIF Section 2 Registration: How to Calculate Your Projected Business Plan Earnings
NYIF Section 2 Registration: How to Calculate Your Projected Business Plan Earnings: This financial information is for a mini business plan.
Projected Average Monthly Sales Revenue (next 12 months):
The average of the total amount of income in a month before any deductions are made.
Projected Monthly Sales Revenue:
The total amount of income in a month before any deductions are made.
Projected Monthly Operating Expenses:
The monthly expense of maintaining the property (e.g., administration, paying property taxes and utilities and insurance); it does not include depreciation or the cost of financing or income taxes.
Projected Monthly Gross Profit:
The net sales minus the cost of goods and services sold per month
Projected Annual Operating Expenses:
The yearly expense of maintaining the property (e.g., administration, paying property taxes and utilities and insurance); it does not include depreciation or the cost of financing or income taxes.
Projected Gross Profit (2021):
The net sales minus the cost of goods and services sold in 2021
Projected Gross Profit (2022):
The net sales minus the cost of goods and services sold in 2022
Projected Gross Profit (2023):
The net sales minus the cost of goods and services sold in 2023
Projected Annual Net Income:
The excess of revenues over expenditures per year (including depreciation and other non-cash expenses). Annual Net Income = Annual Gross Profit minus Annual Operating Expenses (and Taxes)
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The first and second must look the same, but they are different.
The second one says you write what you are plan to be making monthly from sales and service (Projected Monthly Sales Revenue), let’s say N50,000
The first one then says your average monthly sales revenue in 12 months (Projected Average Monthly Sales Revenue (next 12 months)). This will be your monthly sales revenue which is 100,000 x 12 months divided by 12.
The third one is Projected Monthly Expenses. From the definition of Operating Expenses I gave earlier, this is the total monthly expenses in running your business, which doesn’t include the cost of financing or income taxes.
The fourth one says Projected Monthly Gross Profit: Monthly Gross profit = Monthly Sales Revenue minus Cost of Goods Sold.
Cost of good sold is the sum of what it cost you to get you to the point of sales. E.g. transportation, labor, tax on the product, e.t.c
The fifth one is the Projected Annual Operating Expenses. This is the monthly expenses you have written in number 3 x 12 since you will be doing the same thing for a year.
The seventh and eighth one is your Projected Gross profit for 2022 and 2023 respectively. You can increase your Gross profit for 2021 by a quarter or half or maintain the same figure for both 2022 and 2023
The last one is your Projected Annual Net Income. This is the formula:
Your projected Monthly Sales Revenue x 12 minus Cost of goods sold =
Annual Net Income = Annual Gross Profit minus Annual projected Operating expenses