Resource: Preopening Budget Example
Create a 3- to 5-year financial plan to implement the goals and objectives created in Part II of your strategic plan. The deliverables for the financial plan include a projected budget created in Microsoft® Excel® and a report in Microsoft® Word® that clarifies and explains the financial plan.
Section One: Projected Budget
Create a projected budget.
• The projected budget should be a Microsoft Excel spreadsheet that contains a 3- to 5-year financial projection that includes detailed expenditures, income, contingency, gain or loss, capital outlay, and ROI (if applicable).
Include budget strategies to increase volume and budget assumptions.
Section Two: Financial Plan Explanation
Write a 1,050- to 1,400-word narrative discussing the fiscal details of the plan and the assumptions that were used in developing the projected budget.
• Include all the elements required in the projected budget.
• Include capital expenditure planning and contingency plans for unexpected events.
• Budget summary: When explaining your budget:
o Describe the organization's current business model.
o Evaluate the impact of internal resources and financial capabilities on the business model implementation.
- Determine how the organization's internal resources and financial capabilities affect your financial plan.
- Determine how they will affect implementation of the plan.
o Explain the details of the budget assumptions and the strategies to increase volume.
Cite at least 4 peer-reviewed, scholarly, or similar resources to support your information.
Format your paper according to APA guidelines.