Sales Forecast Template for Small Business
Download our free Excel Sales Forecast template with full instructions and an example.
What is a Sales Forecast Template
A sales forecast template is a powerful tool that businesses can use to plan for the future. This template lets businesses track sales data over time, identifying patterns and predicting future sales.
Businesses can make informed decisions about how to allocate resources and where to focus their efforts by analysing sales data. A sales forecast template can also help companies to track progress toward sales goals and objectives. By clearly understanding sales trends, companies can be better prepared for the future and more likely to achieve their goals.
Please read our full article on how to create a sales forecast.
Why use an Excel Spreadsheet for a Sales Forecast Template
If you’re in sales, chances are you’ve been asked to create a sales forecast template at some point. Whether you’re a small business owner or sales manager, forecasting sales is essential to effective decision-making. And while there are many ways to create a sales forecast, one of the most popular methods is using an Excel spreadsheet.
There are several reasons why Excel is such a popular choice for sales forecasting. First, it’s a very versatile tool that can be customised to fit your needs. Secondly, it’s relatively easy to use and understand, even for complex sales forecasts. Finally, perhaps most importantly, it’s widely available and compatible with most computers.
Whether you’re just starting sales forecasting or looking for a more efficient way, an Excel spreadsheet is a great option to consider. With a bit of time and effort, you can create a sales forecast template to help you make better decisions and increase your sales.
How to create a sales forecast template in Excel
Although you can create your own sales forecast template, we have created one for you to download and use for free. There are many other templates available on the internet, but it will depend on the business requirements for the best one to use.
Here are our top tips to help choose the best template for your sales forecast:
- Use a sales forecast template that is easy to understand and use.
- Make sure the sales forecast template is compatible with your computer.
- Customise the sales forecast template to fit your specific needs.
- Use a sales forecast template that is easy to update.
- Speak to your sales team; they might be able to recommend one.
- Look at alternative software which might fit in better for your needs.
Tips for Using our Free Sales Forecast Template
To produce an accurate sales forecast, you will need a few things: historical data, product information and market research.
If you don’t have sales data for your business, you can still produce a sales forecast by using industry averages or estimating how many sales you think you can make. However, it’s essential to remember that your forecast may not be as accurate without sales data.
Look at Sales Historical Data
When creating a sales forecast, it’s essential to look at historical sales data. It will give you an idea of sales patterns and help you predict future sales. You can find historical data by looking at your accounting software to see the revenue over the past year and units sold.
Look at Seasonal Trends
When you’re selling seasonal products, it’s important to consider this when forecasting sales. For example, if you sell Christmas trees, you will make most of your sales in December. By looking at sales data from previous years, you can get an idea of how much sales will increase in the lead-up to Christmas.
Having Discounts or Sales
If you’re planning on having a sale or offering discounts, you need to consider this when forecasting sales. For example, if you’re planning a Black Friday sale, you will need to predict a reduction in the sales price and an increase in units sold.
Talk to your Sales Reps
To get an idea of future sales revenue, it is always worth spending time talking to the sales team to see if they have any sales in the pipeline and talking to new clients. It might also be a good time to review the sales process to see if it can be streamlined.
2 Sales Forecasting Templates
We have created two sales forecasting templates for free. The first is based on product sales and includes entering actual figures to compare the differences.
The second is a simple template for adding customers and can also be used as a retail sales forecast template.
Customer Sales Forecasting Template
To use this sales forecasting template, simply input your customer names in the left column and their sales figures for each month in the right column. The template will automatically calculate the total sales forecasts for each customer and each month.
This template is perfect for small businesses that want to keep track of their sales monthly.
Change the customer column to the information that fits with your business. Here is an example:
As you can see, there are rows set up for retail sales, recurring sales and a list of customers.
Product Sales Forecasting Template Instructions
Small business owners can use the sales forecasting template to help predict sales for the upcoming year. The template is free to download, easy to use and allows business owners to track sales reorders and new orders.
Each template allows for ten different products or services. If you need more, copy and paste the sheets. Once this is done, you will need to add the two total pages together.
List your Products or Services
The sales forecast template includes up to 10 services, products or a mixture.
On the setup page, list the products you want to include and a sales price. This data is then shown on the other sheets, which saves having to enter it several times.
Research Past Customers
Start by looking at past customers’ historical data and estimating future sales. It is crucial if you have customers that regularly place orders. Enter any units sold that you think they might purchase again.
If you expect to change the selling price during the year, it might be due to a price increase or a discount offered; change the price in the month it changes.
New Sales
The next stage is to forecast sales for any new clients. To estimate these figures, you can look at the previous year’s history and see if there is any pattern. Enter any quantities you think you will achieve.
Again change any prices throughout the year to ensure an accurate sales projected revenue.
Total Sales Revenue
The total sales revenue page shows the monthly sales forecast by product or service for new and reorders.
Once the sales forecast data is entered, you can start entering the actual monthly sales revenue. Doing this shows you the differences between sales forecasting and the actual income.
It is helpful to compare the figures to see if there are any different patterns. For example, sales might be higher in the summer months due to people buying ice cream or in the winter due to people buying Christmas gifts.
Review your sales forecast monthly and enter the actual sales revenue figures. It will help you track sales and make changes to the quantities or pricing of the products or services if necessary.
Product Sales Forecasting Template Example
Below is an example of the sales forecasting template for a small business that sells prints and picture frames.
The above image shows a list of the products it sells and their sales prices. This information is then available on the other worksheets.
The above image shows the monthly sales volume for each product and totals. The reorders page shows the same information.
The below image shows the totals page with actual figures entered for the year. Although the total of the new business and existing business only has a variance of 52.00, the reorders were much lower than predicted. It is, therefore, worth looking at why there is a difference.
FAQs about the Free Sales Forecasting Template
I’ve got more than 10 products; can I still use them?
Yes, although there are 10 products listed, you can copy and paste the sheets or insert cells. If you insert cells, ensure the calculations are copied as well.
I don’t have Excel. Can I still use it?
Yes, most of our templates work with Google sheets and other available spreadsheet software.
Can I make changes to the forecast during the year?
Yes, it is important to review a sales forecast regularly and make adjustments for any sales growth or lost revenue.
Sales Forecasting Template Licence Agreement
By downloading our free sales forecast templates, you agree to our licence agreement, allowing you to use the templates for your own personal or business use only. You may not share, distribute, or resell the templates to anyone else in any way.
Other Useful Templates
Budget template – Set a budget for the year, enter actual figures and compare the two.
Cash Book Template – Track Income and expenses.
Sales Forecasting Templates Conclusion
Small businesses can benefit significantly from using a sales forecast template as it predicts future revenue and allows them to track their sales figures and make changes where necessary.
The free sales projections template offered on this website is easy to use and can be customised to include your products or services. By entering actual sales revenue each month, you can compare your projected sales with reality and adjust your sales forecasting methods as needed.
