We can confidently say that there is no a stage of the financial modelling process that is insignificant and/or does not lead to key conclusions and awareness. And in this step we completed the puzzle with a detailed forecast of raw materials costs, cost of goods, personnel, marketing and other operating costs.
For POSH we have developed a detailed cost forecast for the planned sales by food and beverage categories. In addition to detailed estimates of operating costs such as rent, overhead, marketing and others, we have developed a detailed plan for hiring of staff.
It may come as no surprise to any entrepreneur in this sector that the key to adequate cost management focuses on two areas: cost of goods sold and staff. Therefore, it was extremely important for us at the Idea stage to analyze the staff costs, as well as to clearly determine the level of fixed costs of the Project.