Why is It Important to Show Existing and Stabilized Financials in Multi-Family Underwriting?

 If you are investing in multi-family buildings / units then you've probably come across plenty of T-12s and done some financial analysis to figure out what the property is going to produce in cash flows based on expected occupancy, rent, and expenses over time and how that compares to the purchase price and any capex / renovations. One of the things you usually see in these models is the current rent rolls and pro forma, why is that?

Popular SaaS Products for Short-term Rental Real Estate Operators

 Those who purchase homes in order to rent them out for days or weeks at a time (using Airbnb/VRBO/or what have you) may use all kinds of software products to help them manage their properties. Let's get into some of the most useful.

Why Do Construction Companies Fail?

 Cash flow management and not getting enough work is the high level cause, but what leads to that?. There could be isolated one-time legal catastrophes that may also lead to failure or simply poor overall quality that leads to bad reputation in the construction world will not be helpful to success.

How to Negotiate Preferred Equity Terms: Real Estate Investment Tip

 Negotiating preferred equity terms requires careful consideration of various factors that can affect the interests of both the investor and the joint venture partner. Investors that choose to participate in this area of the equity stack (special financing) are looking for quick return of capital and safer, lower returns.

Marketplaces Succeed (or fail) Because of Trust and Reputation

 The reason marketplaces become successful is that the buyers and sellers trust that transactions can happen in good faith and to everyone's expectations. This is especially true for online marketplaces. People use Amazon because they know they are going to get what they paid for, in a timely manner, and there is recourse if things go wrong. Trust is what lets things happen in the long run.

Financial Modeling Using Customer Behavior Lifecycles

 I've done a few models that forecast revenues based on looking solely at new customer cohorts and their lifecycles. There are all kinds of ways to build a spreadsheet that does this and I'll talk about some techniques I've done below:

Update to Preferred Return Template - Return of Equity Option Added

 There is this tricky term called 'repayment of equity' in joint venture financial modeling. It is important because the total preferred return due will change depending on how the agreement works for equity basis reductions from profits when there is an LP with a preferred return.

Reasons Why a Self-Storage Business May Fail

 The high level answer is they run out of money and that can happen if their debt service outweighs their net operating income or their net operating income is negative. The real question is why is that likely to happen to a self-storage facility? If you are a real estate investor, you might have thought about getting exposure to this space as an LP or GP. If you are either, these things are important to consider.

Modeling Accounts Receivable in a 3-Statement Model

In a 3-statement financial model, accounts receivable can be calculated as a part of the balance sheet. Accounts receivable represents the amount of money that a company expects to receive from its customers for goods or services that it has sold on credit.

The Business of Being a Franchisor is All About Branding

 Sure you need a good system, good IP, good products, and a great process in general to succeed at being a franchisor. One of the most important things in this space is maintaining a strong brand. It gives a lot of network effects and helps one build momentum. This is especially true for new franchise businesses.

Financial Modeling Approach for a Public Golf Course

 I've built financial models for private and public golf courses (for clients and general templates for anyone to use). The main difference between these two is the revenue drivers. Public courses are more of a capacity-based model for walk-ins that pay a one-time course fee. Private courses are a different kind of capacity model.

Modeling Monthly Distributions vs Annual Distributions in a Joint Venture Cash Flow Waterfall

 I've done a lot of joint venture real estate models for clients and also built standalone templates. Some I've done based on monthly distributions and others on an annual period-only schedule. Let's talk about how the calculations vary.

Subscription Pricing Strategies for a Marketplace

 You might be starting a new marketplace business or attempting to introduce a subscription offering to your existing marketplace users where they pay some monthly fee or bi-annual / annual fee for better experience / perks / what have you. So, the question is, how do you price your subscription service?

More Hurdles, or Less Hurdles: What is Best in an IRR Hurdle Waterfall Structure?

 In finance, a cash flow waterfall refers to the distribution of cash flows from an investment or project among various parties, such as investors, sponsors, and lenders. The internal rate of return (IRR) cash flow waterfall is a specific type of cash flow distribution that allocates cash flows based on the IRR achieved by each party.

What Makes a Good Financial Dashboard Template?

 The driving force behind a dashboard template is usefulness. It should give a quick snapshot at the most important financial data / key metric data of the business in question. That may be different depending on the type of business the dashboard is for. 

Biggest Reason Assisted Living Facilities Fail

 Sometimes it can be healthy to look at why things fail rather than why they succeed. We are going to analyze an assisted living facility in a way that looks at common failures. In any business, sometimes the reason for failure is just that nobody wants your products or services anymore (Blockbuster) and that is not in your control, except that you can pivot, but a building that is designed to take care of old people is not likely to fall out of demand, so let's look at what could possibly go wrong.

Depreciation and all the Wild Accounting That Comes With It

 Most of the startup financial models that I built here on the site have depreciation factored in. I generally build logic for straight-line methodology only, but when you get deep down into the nuance and Accounting for depreciation, things get wild.

Best Location to Start a Laundromat

A laundromat is one of the more popular businesses to startup as it is fairly simple to understand. You need to either build up a new location or buy one, get the equipment setup, and then let the business run while keeping up with the maintenance of the machines and the property. One of the most important things in this industry is location. Good traffic means high utilizations and a better ROI.

Key Metrics for Hotel Financial Modeling

 I've done a few hotel financial models for clients as well as built a custom development/acquisition spreadsheet from scratch. Below we are going to talk about key metrics of the hotel industry and the logic / calculations.

What is Working Capital?

 Anyone running a business needs a good sense of what working capital is and how to manage it properly. This is especially true for startups that are getting some revenue, but have a lot of moving parts for how cash comes in and cash goes out. If the settings are not right, you may run out of working capital and then require a credit facility / loans or other high costs of capital (much higher than simply using the revenue you earn to pay for your expenses).

Examples of Alternative Lending

 Traditional lending is going to a bank and getting a mortgage where you simply pay principal and interest each period based on an interest rate, total term, and payments per year or getting an auto loan with regular p+i repayments over 5 to 7 years. However, there are some alternative lending options that have come up over the years so let's get into it.

Consultants Can Use Excel to Track Billable Time

 Ok, so I have actually used the same time tracker that I built back in 2017 for myself for the past 6 years. It is simple and I can do all the time tracking I need for all my clients. It works awesome and if you are a single person user, this solution is great and everyone has Excel so it is widely available to most people without any ongoing fees. I also like this solution better than web-based solutions that I've tried.

Preferred Return Effect on Total Return on Investment

 This is a pretty in-depth idea that has a lot of moving parts / components. I will try to keep it high level and as understandable as possible. Basically, the idea is to take a look at how the existence of a preferred return can impact investors and operators (LPs / GPs) as opposed to not having a preferred return that is due and simply splitting the cash flows at a defined rate.

Legal Structure of a Preferred Return Joint Venture vs a Model

 First and foremost, I am not an attorney of any kind and you should consult one before drafting up an agreement. What I am talking about below is just some rules of thumb to consider when you go to explain what you want to someone that is used to drafting joint venture agreements where there is a preferred return in place.

Preferred Equity Waterfall Modeling Considerations

 Being able to model an idea requires a really good understanding of what it is being modeled. With preferred equity, we must understand a few different things in order to even attempt to build something that is generally useful to LPs and/or GPs as they try to figure out a feasible deal structure for their joint venture.

Car Wash Economics and Modeling Tips

 Car wash modeling can be approached using a variety of methods, but here are some steps that could be taken to create a basic model:

Financial Modeling Techniques for Equipment Rental Business

 I've done two main equipment rental model templates and a few custom builds for clients. I will go through all the various styles I have seen for creating financial forecasts / cash flow forecasts for this type of business below as well as some techniques I have not tried before.

Things to Consider When Financial Forecasting for an Assisted Living Facility

 Financial forecasting for an assisted living facility requires a comprehensive analysis of various aspects of the business. Some of the essential aspects to consider are:

Subscription Modeling Challenges: Rolling Revenue Forecast

 When you have a subscription-based business, one of the more difficult tasks to do is create an ongoing revenue forecast that consistently takes into account all existing subscribers, future subscribers, and the resulting retention of those cohorts. It is important to do for general financial planning, expansion, capex spending, and operational decision-making as well as strategizing.

When is the Right Time for an Interest Rate Swap?

 Bottom line, nobody knows the future so this is speculation to some degree. There are a few different scenarios that one may want to jump into a swap, but it really is dependent on your expectations of future interest rates or the need to hedge. Apple has done these with all their cash reserves.

Seller Financing and the Real Estate Industry

 Seller financing, also known as owner financing, is a method of buying or selling a property in which the seller provides financing to the buyer. While seller financing can be used in any industry that involves the sale of a property, it is most commonly used in the real estate industry.

Ethics and the Real Estate Brokerage Business

 Real estate brokerage businesses must uphold ethical considerations in their day-to-day operations to maintain their reputation and trust among clients. Here are a few ethical considerations for real estate brokerage businesses:

How to Calculate Profit per Job in a Construction Company

 Calculating profit per job in a construction company involves several steps. Here's a general guide on how to do it:

Cash Flow Waterfalls and Joint Ventures: High Level Overview

When starting a joint venture, it is important to consider the use of a cash flow waterfall. A cash

flow waterfall is a framework that outlines the order in which cash flows are distributed among the

different stakeholders in a project, i.e., a cash flow waterfall is a method of prioritizing how cash flows

are distributed or allocated in a structured manner. In a joint venture, the cash flow waterfall can help

to ensure that all parties are treated fairly and that there is a clear understanding of how profits will be

distributed.

General Types of REITs and Their Risk Profile

 Real Estate Investment Trusts (REITs) are a popular way for investors to gain exposure to the real estate market without owning physical property. Here are some common types of REITs and their risk profiles:

Template with IRR Hurdles and a GP Catch-up Option

SmartHelping / Joint Venture Waterfall / Excel

IRR Hurdles & GP Catch-Up

Model joint venture cash distributions through the LP’s first IRR hurdle, an optional GP catch-up and the remaining waterfall tiers. Review the cash flow and return results for the limited partner and general partner in one Excel template.

3 IRR hurdles Optional GP catch-up 10-year annual schedule LP & GP return analysis

$75One-time purchase / Excel download

Add IRR Hurdles & GP Catch-Up Template to Cart

Immediate download after purchase. By purchasing, you agree to the Terms of Service.

Watch the walkthrough Distribution order Template inputs LP & GP outputs Included in bundles

See the waterfall in action

Follow the cash flow through the hurdles and catch-up.

Watch the walkthrough to see how the template allocates available cash. Open the screenshots below to inspect the waterfall calculations, final summary and charts.

Open the template screenshots

Preview the Common Equity Waterfall, Final Summary and Visual tabs.

Distribution order

First hurdle, then catch-up, then the remaining tiers.

The placement of the GP catch-up is part of the template’s waterfall logic.

1. 01

   LP first IRR hurdle

   The model works through the LP’s first IRR hurdle before the GP catch-up stage.

2. 02

   Optional GP catch-up

   Once the first LP hurdle is achieved, the catch-up provision applies according to the input and available cash flow. Enter 0% for the catch-up input when no catch-up applies.

3. 03

   Remaining hurdles and residual split

   Remaining cash flow continues through the later IRR hurdles and the thereafter split according to the configured LP and GP percentages.

Cash flow and waterfall assumptions

Set the contributions, hurdle rates and distribution splits.

Use the inputs to reflect the cash flow and joint venture terms you want to evaluate.

01

Three IRR hurdle tiers

Configure Tier 1, Tier 2 and Tier 3 hurdle rates and their LP/GP distribution percentages, followed by a thereafter split.

02

Optional GP catch-up

Set the GP catch-up input for the scenario being modeled. Enter 0% to run the waterfall without a catch-up provision.

03

LP and GP contributions

Define the limited partner and general partner contribution percentages used in the waterfall analysis.

04

Annual cash flow schedule

Enter contributions and distributions across Year 0 through Year 10, then follow the resulting allocations through the waterfall.

05

Tier-by-tier calculations

Review the separate hurdle, catch-up and thereafter calculations, including the cash flow continuing to later tiers.

06

Distribution checks

Use the check rows alongside the allocation calculations and the final cash flow summary when reviewing the model results.

LP and GP reporting

See what each partner receives over time.

The Final Summary brings the partner cash flows, returns and discounted cash flow analysis together.

Cash flow and IRR

Review annual net cash flow and IRR separately for the limited partner and general partner.

Running cash position

Follow each partner’s running cash position across the annual schedule, alongside the equity percentages and check row.

Discounted cash flow and NPV

Use separate LP and GP discount-rate inputs to review discounted cash flow and net present value (NPV) for each partner.

Two cash flow charts

Compare the partner outcomes visually.

The Visual tab includes two charts that show how the LP and GP cash flows develop across the modeled years.

Total cash flow by equity type

Compare LP and GP cash flow in each year of the schedule.

Cash position by equity type

Compare the running cash position of the two partners over time.

How to use the template

Turn the distribution terms into a cash flow model.

1. 01

   Enter the cash flows

   Add the contributions and distributions for the investment across the annual schedule and set the LP and GP contribution percentages.

2. 02

   Configure the waterfall

   Set the IRR hurdles, tier distribution percentages, thereafter split and optional GP catch-up input.

3. 03

   Review the distribution sequence

   Follow the first hurdle, catch-up and remaining tiers. Review the check rows and the cash flow passed between tiers.

4. 04

   Compare partner outcomes

   Review LP and GP IRRs, cash positions, DCF results and charts. Change the catch-up assumption, including 0% if appropriate, to compare the allocation outcomes using the same underlying cash flows.

Who this template is for

For sponsors, investors and joint venture modelers.

GPs and sponsors

Model a proposed catch-up after the first LP IRR hurdle and review how cash flows through the subsequent distribution tiers.

LPs and financial analysts

Review the distribution sequence, compare partner outcomes and see how the catch-up assumption affects the allocation of available cash.

Understanding the catch-up

Make the allocation mechanics clear to both partners.

A catch-up changes how the available cash is allocated. Reviewing the full waterfall helps explain the economic effect of the chosen terms.

Performance participation

The catch-up stage follows achievement of the first LP IRR hurdle in this template, linking that stage of GP participation to the modeled hurdle being met.

LP and GP trade-offs

Cash allocated to the GP catch-up affects the amount and timing of distributions available to the LP. Compare both partner results when evaluating the structure.

Cash flow scenarios

Test the waterfall under different investment cash flows to see when the first hurdle, catch-up and later tiers are reached.

Transparent calculations

Use the tier calculations, partner summaries and charts to explain the waterfall sequence and identify assumptions that need closer review.

Also available in these bundles

Need more waterfall or real estate models?

This template is included in the Joint Venture Waterfall and Real Estate bundles. The Super Smart Bundle provides access to the complete public SmartHelping template collection.

Joint Venture Waterfall Templates

Explore templates for preferred returns, IRR hurdles, equity multiples and partner distributions.

View the Joint Venture bundle

Real Estate Financial Models

Explore models for property acquisitions, development and investment structures.

View the Real Estate bundle

Super Smart Bundle

Access the complete public SmartHelping template collection across industries and financial-analysis needs.

View the Super Smart Bundle

Custom financial modeling

Need a different distribution structure?

Custom modeling is available when your deal needs different waterfall logic or additional requirements.

Discuss a Custom Waterfall

Share the structure you want to model and the financial outputs you need.

Contact Jason

More joint venture cash flow waterfall templates

Explore other distribution structures and investment models.

Pref. with Investor Thresholds

Explore preferred-return modeling with investor thresholds.

Explore the template

Preferred Return with Hybrid IRR / MOIC Hurdle in Tier 3

Model a preferred return with a hybrid IRR and MOIC hurdle in the third tier.

Explore the template

Preferred Return - Multiple GP Catch-up Options

Compare additional GP catch-up options in a separate preferred-return template.

Explore the template

Preferred Return

Explore a separate preferred-return cash flow model.

Explore the template

Preferred Equity with a Subordinate IRR Hurdle Waterfall

Model preferred equity alongside a subordinate IRR hurdle waterfall.

Explore the template

Preferred Equity (equity multiple hurdle)

Explore preferred-equity distributions using an equity-multiple hurdle.

Explore the template

General Cash Flow Waterfall: 3 IRR Hurdles

Explore a separate general cash flow waterfall with three IRR hurdles.

Explore the template

Preferred Return - Simple Interest / Multiple Hurdles / Non-Compounding

Model a non-compounding preferred return with simple interest and multiple hurdles.

Explore the template

Preferred Return Fund Tracker

Track an investment fund with preferred-return calculations.

Explore the template

Cumulative Distributions

Explore a joint venture template based on cumulative distributions.

Explore the template

Mixed-Use Real Estate

Evaluate a property with a mix of real estate uses.

Explore the template

Multi-family Real Estate Acquisition

Analyze a multifamily property acquisition.

Explore the template

Joint Venture Model - IRR Hurdles / Waterfall

Explore another joint venture model with IRR hurdles and a cash flow waterfall.

Explore the template

Hedge Fund Fee Model

Explore a dedicated model for hedge fund fee calculations.

Explore the template

Self Storage: Multi-Fund

Explore a self-storage investment model covering multiple deals.

Explore the template

Questions before you buy

A few useful details.

When does the GP catch-up apply?

It applies after the LP has achieved the first IRR hurdle. The remaining hurdles follow the catch-up stage as available cash flow permits.

Can I use the template without a catch-up?

Yes. Enter 0% for the GP catch-up input.

How many IRR hurdle tiers are included?

The waterfall contains three IRR hurdle tiers and a thereafter split, with the optional GP catch-up between the first and remaining hurdles.

What time periods are shown?

The workbook uses an annual schedule from Year 0 through Year 10.

What does the Final Summary show?

It shows LP and GP cash flows, IRRs, running cash positions, and separate discounted cash flow analyses with LP and GP discount rates and NPV results.

Are cash flow charts included?

Yes. The Visual tab includes total cash flow by equity type and cash position by equity type.

Which bundles include this template?

It is included in the Joint Venture Waterfall and Real Estate bundles. The Super Smart Bundle includes the complete public SmartHelping template collection.

Understand the distribution sequence

Model the hurdles, catch-up and partner outcomes.

Get the IRR Hurdles & GP Catch-Up Template for $75 and review the joint venture waterfall in Excel.

Get the IRR Hurdles & GP Catch-Up Template

Tips for Starting a Successful Used Car Dealership

 Starting any business required good planning. You don't want to run out of cash before you ever get started and it is important to take calculated risks and weigh options for inventory targeting as well as sales team planning, management, pricing, and more.

Marketplace with Subscription Option - 5 Year Financial Model

SmartHelping / Marketplace & Subscription / Excel

Marketplace & Subscription Financial Model

Build a five-year forecast that combines marketplace transaction fees with up to three subscription tiers. Model customer acquisition, retention and contract billing, then review connected financial statements, investor cash flows and key customer metrics.

5-year forecast Up to 3 subscription tiers Monthly & annual reports Connected 3-statement model

$99One-time purchase / Excel download

Add Marketplace & Subscription Model to Cart

Immediate download after purchase. By purchasing, you agree to the Terms of Service.

Watch the walkthrough Model features Customer retention Reports & metrics Included in bundles

See the model in action

Follow the assumptions through the combined forecast.

The walkthrough goes through each assumption from scratch and explains how the marketplace and subscription components fit together. Open the screenshots below for a closer look at the workbook.

Open the model screenshots

Preview the marketplace and subscription model before purchasing.

What the model includes

Configure the subscriptions and marketplace separately.

Use both revenue components together, or zero out the assumptions for the unused component to model a subscription-only or marketplace-only business.

01

Up to three subscription tiers

Configure each tier independently, including contract length, pricing, advertising spend, conversion assumptions and organic traffic.

02

Contract billing options

For subscription contracts longer than one month, model cash collection upfront or over the contract period.

03

Renewal and retention assumptions

Set the annual percentage increase in contracts at renewal and the retention rate at the end of the term for each subscription tier.

04

Separate marketplace activity

Set transactions per month, transaction values and fee rates separately for subscribers and non-subscribers.

05

Traffic and customer acquisition

Model monthly advertising spend, paid and organic traffic, conversion to the marketplace and the percentage of traffic converting directly to subscribers.

06

Movement into subscriptions

Set assumptions for marketplace users who move from non-subscribers to subscribers each month, connecting the two customer groups within the forecast.

How customer retention works

Two customer groups, with separate retention assumptions.

The model assumes all subscribers are also part of the marketplace. Their retention is tied to their subscription, while non-subscribers have their own average-lifespan assumptions.

Subscribers in the marketplace

Subscriber retention follows how long the customer remains a subscriber. Their marketplace activity uses the transaction frequency, transaction value and fee assumptions set for subscribers.

Non-subscribing marketplace customers

Use separate retention assumptions for the average lifespan of marketplace customers who do not subscribe, alongside their own marketplace transaction assumptions.

Custom retention curves

To model a different retention pattern, go to the Validation tab and manually enter the percentage of customers remaining at each renewal period. This allows you to reflect a non-linear curve, such as exponential decay, instead of an average straight-line depletion pattern.

Financial reports and customer metrics

Review the business from operating and investor perspectives.

The reporting connects the underlying assumptions to monthly and annual financial performance.

Connected financial statements

Review the Income Statement, Balance Sheet and Statement of Cash Flows on both a monthly and annual basis. All three statements adjust as assumptions change.

DCF analysis in three views

Review discounted cash flow analysis from the project, outside investor and inside investor perspectives.

Annual executive summary

Use the annual executive summary to review the forecast at a higher level alongside the detailed monthly and annual schedules.

EBITDA and cash flow detail

Inspect the granular monthly and annual components of EBITDA and cash flow to understand what is driving the forecast.

Cap table

Review the model’s capitalization table alongside the financial statements and investor analyses.

Customer metrics and visualizations

Review customer acquisition cost (CAC), lifetime value (LTV), the LTV:CAC ratio and months to pay back CAC. Visualizations cover key metrics and financial results.

How to use the model

Build the forecast around your customer journey.

Start with how customers arrive, transact and subscribe, then review how those assumptions flow into the financial results.

1. 01

   Choose the revenue components

   Use marketplace fees and subscriptions together, or zero out the assumptions for the component you do not need.

2. 02

   Set acquisition and transaction assumptions

   Enter advertising spend, traffic, conversion rates and movement into subscriptions. Set transaction frequency, values and fees for both marketplace customer groups.

3. 03

   Configure subscription terms and retention

   Set up to three tiers with pricing, contract lengths, cash collection options and renewal assumptions. Set non-subscriber retention separately, and use the Validation tab if you need custom retention curves.

4. 04

   Review reports and refine assumptions

   Check the connected financial statements, EBITDA and cash flow detail, customer metrics and DCF views. Follow the video as you work through the assumptions and compare different inputs.

Evaluate the subscription option

Test the economics behind the business model.

Change the inputs to explore how a subscription offering could affect the marketplace forecast.

Recurring revenue and cash timing

Compare subscription pricing, contract length and collection timing to see how those choices affect the revenue and cash flow forecast.

Retention and customer value

Change renewal and retention assumptions and review the effect on customer lifetime value and the forecast.

Acquisition cost and payback

Review advertising, traffic and conversion assumptions alongside CAC, the LTV:CAC ratio and months to pay back acquisition cost.

Marketplace activity by customer group

Compare the transaction frequency, transaction value and fee assumptions for subscribers and non-subscribers when evaluating the combined revenue model.

Who the model is for

For marketplaces with an optional recurring revenue layer.

Marketplace founders and operators

Plan a marketplace that offers subscription tiers, including customers who join as non-subscribers and later move into a subscription.

Finance teams and analysts

Build a combined marketplace and subscription forecast, or use one component on its own, with financial statements, customer metrics and investor reporting.

Also available in these bundles

Need more tools for recurring revenue analysis?

This model is included in the SaaS financial models bundle. The Super Smart Bundle provides access to the complete public SmartHelping template collection.

SaaS & Recurring Revenue Models

Explore financial models, calculators and reporting tools for SaaS and subscription businesses.

View the SaaS bundle

Super Smart Bundle

Access the complete public SmartHelping template collection across industries and financial-analysis needs.

View the Super Smart Bundle

Related financial-analysis tools

Explore accounting and valuation tools.

Use these separate templates for accounting and discounted cash flow analysis.

Financial Statements & Accounting

Explore an Excel accounting system with financial-statement reporting.

Explore the template

DCF Analysis & Sensitivity

Explore a separate discounted cash flow analysis template with sensitivity analysis.

Explore the template

More subscription and membership models

Explore related recurring revenue tools.

This model draws on the Marketplace and B2B/B2C SaaS with 3 Pricing Tiers templates, both linked below alongside other subscription and membership models.

AI-agentic SaaS

Explore a financial model for an AI-agentic SaaS business.

Explore the template

B2C SaaS Model for AI-Powered Platforms

Build a financial forecast for a consumer-facing SaaS platform powered by AI.

Explore the template

SaaS CFO Dashboard

Review SaaS financial and operating metrics in a dashboard.

Explore the template

Data-as-a-Service (DaaS)

Build a financial forecast for a data-as-a-service business.

Explore the template

Function-as-a-Service (FaaS)

Explore a financial model for a function-as-a-service operation.

Explore the template

Subscription Box

Plan the financial performance of a subscription box business.

Explore the template

B2B/B2C SaaS with 3 Pricing Tiers

Forecast a SaaS business with three pricing tiers.

Explore the template

Marketplace

Explore a financial model for a marketplace startup.

Explore the template

5 Tier SaaS Driven by Traffic Conversion

Build a five-tier SaaS forecast around traffic and customer conversion.

Explore the template

Freemium

Plan a subscription business with a freemium offering.

Explore the template

Customer Cohort Modeling (historical data analysis)

Analyze historical customer data using cohort reporting.

Explore the template

Product + Service Subscription

Explore a recurring revenue model combining products and services.

Explore the template

SaaS Pricing and Margin Simulator

Compare SaaS pricing assumptions and their effect on margins.

Explore the template

Product-as-a-Service (PaaS)

Build a financial plan for a product-as-a-service business.

Explore the template

Basic 4 Tier SaaS with One-time Onboard Fee Option

Forecast four SaaS pricing tiers with an optional one-time onboarding fee.

Explore the template

Security Monitoring Service: 3 Tiers

Plan a security monitoring service with three pricing tiers.

Explore the template

Ratio-Driven SaaS

Explore a SaaS forecast driven by operating ratios.

Explore the template

General Mobile App

Build a financial forecast for a mobile app business.

Explore the template

LaaS - Lending as a Service

Explore a financial model for a lending-as-a-service startup.

Explore the template

Property Management Business

Plan the financial performance of a property management company.

Explore the template

Professional Services Firm / Talent Agency

Build a financial forecast for a professional services firm or talent agency.

Explore the template

Mobile App / SaaS Ad Spend Guide

Evaluate advertising spend for a mobile app or SaaS business.

Explore the template

SaaS MRR Calculator

Calculate monthly recurring revenue and compare changes between reporting periods.

Explore the template

SaaS Rolling Revenue Forecast

Maintain a rolling revenue forecast for a SaaS business.

Explore the template

Ad Network

Explore a financial model for an advertising network.

Explore the template

Car Wash - With Membership Option

Evaluate a car wash business with a membership offering.

Explore the template

Private Golf Course - Membership Fees

Plan the economics of a private membership golf course.

Explore the template

Customer Spend Patterns

Analyze customer spending and retention patterns.

Explore the template

Questions before you buy

A few useful details.

How long is the forecast, and how many tiers can I model?

The model covers five years and supports up to three independently configured subscription tiers, with monthly and annual financial reporting.

Can I use it for only a marketplace or only subscriptions?

Yes. Zero out the assumptions for whichever component you do not want to use.

Are subscribers also marketplace customers?

Yes. The model assumes every subscriber is part of the marketplace. Subscriber retention follows the subscription lifespan, while non-subscribers have separate average-lifespan assumptions.

Can I model upfront subscription payments?

Yes. For contracts longer than one month, you can model cash collection upfront or over the contract period.

Can I customize customer retention curves?

Yes. Go to the Validation tab and manually enter the percentage of customers remaining at each renewal period to reflect the retention pattern you want to model.

Which reports and customer metrics are included?

Outputs include monthly and annual connected financial statements, three DCF views, an annual executive summary, detailed EBITDA and cash flow schedules, a cap table and visualizations. Customer metrics include CAC, LTV, LTV:CAC and months to pay back CAC.

Where should I start when filling out the workbook?

Follow the video walkthrough. It goes through each assumption from scratch and explains how the marketplace and subscription components work together.

Plan the combined business

Connect marketplace activity with subscription revenue.

Get the Marketplace & Subscription Financial Model for $99 and build a five-year forecast with up to three subscription tiers.

Get the Marketplace & Subscription Model

What is Multi-family Real Estate?

 Multi-family real estate refers to residential properties that are designed and built to house multiple households, typically in the form of apartments, condominiums, townhouses, or other types of multi-unit buildings. These properties are often owned and managed by a single entity, such as a real estate investment trust (REIT), a private equity firm, or a property management company.

Role of Debt in Multi-family Real Estate Investing

 Debt plays a crucial role in multi-family real estate investing, as it can significantly impact the returns on an investment. Debt is typically used to finance a portion of the acquisition or development costs of a property, and it can come in various forms, such as traditional mortgages, mezzanine financing, and bridge loans. Here are some ways in which debt impacts multi-family real estate investing:

Best Practices in Job Costing

 Job costing is important. Any general contractor should have a good system to estimate what jobs will cost, what their expected margins will be, and track actual results to compare how they are doing against these targets. If you don't want to run out of money, it is important to do this well.

Does Your Car Wash Business Have These Features?

 The car wash industry is constantly evolving, and there are several new trends that are shaping the industry. Some of the most notable trends in the car wash industry include:

What is "Industry 4.0" in Manufacturing?

 Plain and simple, the term "Industry 4.0" simply means the fourth industrial revolution. It refers to the integration of advanced technologies into the manufacturing industry to create smart factories that are more efficient, productive, and cost-effective. It is characterized by the use of cyber-physical systems (CPS), the Internet of Things (IoT), and other emerging technologies to enable machine-to-machine communication and data exchange.

Different Types of Franchise Business Models

There are different franchise business models, each with its own pros and cons. Here are some of the most common franchise business models:

Average IRR of Mixed-Use Real Estate Deals

 The average Internal Rate of Return (IRR) in mixed real estate can vary widely depending on a variety of factors, including the specific project, location, financing structure, and overall market conditions.

Financial Modeling Techniques for the Product + Subscription Business

 Creating a financial model for selling a product that has an optional add-on subscription service requires careful consideration of several factors, including the price points of the product and the subscription service, the target market, and the estimated customer conversion rates.

Origins of Preferred Equity

 Ok, so from my perspective, the use of preferred equity is often involved in joint ventures within the oil and gas or real estate deal industries. It can be used for all sorts of businesses though and really just represents a certain risk / reward profile for investors and operators. I thought it would be interested to give some history on how this type of equity came to be and what was the very first deal to use this finance structure.

General Economics of Recycling Businesses

 Recycling businesses play an important role in reducing waste and conserving natural resources. The economics of recycling businesses can be complex, and can vary depending on a number of factors such as the type of materials being recycled, the market demand for those materials, the cost of collecting and processing the materials, and the competition in the industry.

Sustainable Products You Might Want to Build a Manufacturing Plant Around

 If you are thinking about starting a manufacturing plant, the investment is high and it takes a lot of operational know-how. Also, you want to be sure whatever you are able to manufacturer is going to have long-term demand. There are many products that can be good long-term options to build a manufacturing plant for, depending on a number of factors such as market demand, availability of resources, and potential for scalability.

How to Determine Safety Stock When Inventory Forecasting

 There is a whole process to performing good inventory forecasting, cash requirement planning, and general management of the entire cash conversion cycle of an inventory reliant business. Below are some general things to consider when defining a single step of that process. That would be the safety stock.

General Steps to Calculate Inventory Reordering Requirements for Your Business

 First, let me say that the inventory forecasting Excel templates I have built are all in high demand since I started building them.

How Changing Interest Rates Impact Banks and Lending

 The Federal Reserve (the Fed) is the central bank of the United States, and one of its primary responsibilities is to set monetary policy, which includes setting the federal funds rate—the interest rate that banks charge each other for overnight loans. Here are some interesting things about how the Fed's interest rate decisions can affect bank profits:

Best Visualizations for a Sales Pipeline Tracker

 Visualizations can be tricky. If you want your sales manager or management in general to easily view a dashboard that displays exactly what the sales pipeline looks like at any given moment, you've really got to think about the layout, what numbers to display, what columns to use for your database, and what kind of charts / visuals to show.

What are the Downsides of Preferred Equity in Real Estate

 You see these kinds of deals in real estate a lot because of the steady and predictable cash flows expected therein. However, preferred equity does have its risks and drawbacks. 

Mobile Home Park Investing: Bull Case

Here we are taking a look at the bull case for buying mobile home parks (MHPs). Investing in these kinds of real estate syndication deals or being an owner / operator can check all the right boxes for certain individuals.

What is a Marketplace?

 At the very root, a marketplace is simply a place where things are transacted. Usually, when this term is referenced it means a place where buyers and sellers can connect and exchange goods or services. There are offline and online marketplaces. You will find them in all shapes and sizes with all sorts of structures.

Laundromat Financial Forecasting Model - Excel Template

SmartHelping / Laundromat / Excel

Laundromat Financial Forecasting Model

Plan the machines, capacity, seasonality, operating costs, financing and investor returns behind a laundromat startup, acquisition or expansion. Choose the core Standard model or the Advanced version for more complex property, debt and tax scenarios.

Up to 10 years 5 washer and 5 dryer types Connected 3 statements DCF, IRR, equity multiple & DSCR

Version 01 / Core operating model

Standard Version

Build the machine schedule, revenue capacity, seasonality, operating expenses, capital plan and connected financial statements. Includes optional debt, cap table, sources and uses, DCF, IRR, equity multiple, ROI and DSCR analysis.

$45 One-time purchase / Excel download

Add Standard Version to Cart

Includes Standard Version

Version 02 / Expanded property and financing

Advanced Version

Includes the Standard workbook plus buy-versus-rent and sale-leaseback options, bonus depreciation, construction, mortgage and equipment loans, estimated quarterly tax payments and net operating loss carryforwards.

$99 One-time purchase / two Excel files

Add Advanced Version to Cart

Which version fits? Choose Standard for the core laundromat operating and investment forecast. Choose Advanced when the plan includes property ownership or rent, a sale-leaseback, multiple loan facilities, bonus depreciation or more detailed tax treatment. The $99 Advanced purchase includes the $45 Standard workbook at no extra charge.

Both options are immediately downloadable after purchase. By purchasing, you agree to the Terms of Service.

Compare the walkthroughs Features in both versions Advanced-only features Financial analysis Bundle options Common questions

See each version in action

Compare the operating model and the expanded financing logic.

Start with the walkthrough that matches the version you are considering. The additional update video covers improvements included in both workbooks.

Standard Version walkthrough

Advanced Version walkthrough

Watch the latest updates included in both versions

The shared updates include easier equity-injection and cash-flow planning, a revenue-versus-machine-purchase offset, sources and uses, KPI visuals and improved formatting.

Open the Standard Version presentation

Open the Advanced Version presentation

Included in both versions

Build the laundromat from machine capacity to investor returns.

Both workbooks connect equipment purchases and customer usage to revenue, operating costs, financing, financial statements, valuation and equity outcomes.

01 / MACHINE SCHEDULE

Plan five washer and five dryer types

Set each machine type's purchase month, quantity, unit cost, price per use, monthly hours available, average cycle time and useful life for depreciation.

02 / CAPACITY & SEASONALITY

Translate the installed base into usage

Define the percentage of maximum capacity reached in each month of the year and add annual improvement assumptions for every seasonal month.

03 / MACHINE REVENUE

Build revenue by equipment type

Connect available machine hours, average time per use, utilization and price per cycle to monthly washer and dryer revenue.

04 / OPERATING EXPENSES

Separate fixed and activity-driven costs

Plan fixed expenses by start month and annual cost level. Model repairs, maintenance, water and electricity using per-machine monthly assumptions.

05 / CAPITAL & OWNERSHIP

See where startup funding comes from

Use the sources and uses summary, equity-injection planning and cap table to define owner and outside-investor contributions and ownership shares.

06 / DEBT & DSCR

Test the impact of borrowing

Enter debt draw timing, interest rate and repayment term, then review debt service and the resulting debt service coverage ratio.

07 / EXIT & VALUATION

Choose the month and value at exit

Stop the forecast at any month across the ten-year period and estimate exit value from a selected multiple of trailing 12-month revenue.

08 / CONNECTED FINANCIALS

Follow the assumptions through all three statements

Review monthly and annual income statements, balance sheets and cash flow statements, supported by detailed schedules and executive summaries.

Advanced Version only

Model the property, financing stack and tax timing in more detail.

The Advanced Version is designed for more complicated operating and financing scenarios. It includes the complete Standard workbook as a separate file.

Own, rent or sell and lease back

Use toggles for buying the building or renting the space, and model an optional sale-leaseback when the real estate and operating business need to be evaluated together.

Three distinct loan facilities

Configure a construction loan with an optional payment-in-kind toggle, a mortgage when the building is purchased and a separate equipment loan. Each facility is shown separately on the balance sheet.

Depreciation and tax timing

Include optional bonus depreciation for equipment, estimated quarterly tax-payment timing on the cash flow statement and a net operating loss carryforward that can offset a selected percentage of future profits.

How to use it

From a machine plan to an investment decision.

1. 01

   Define the equipment plan

   Enter washer and dryer types, quantities, acquisition dates, costs, cycle prices, capacity and useful lives.

2. 02

   Set utilization and operating costs

   Adjust seasonality, annual capacity improvement, repairs, maintenance, water, electricity and the fixed expense schedule.

3. 03

   Choose the capital structure

   Plan initial and follow-on equity, ownership percentages, debt terms and the timing difference between revenue growth and machine purchases.

4. 04

   Review feasibility and returns

   Evaluate break-even activity, statements, cash requirements, DSCR, DCF value, IRR, equity multiple, ROI and the selected exit month.

Outputs and decision support

See the operating plan, cash flow and value from several perspectives.

The model brings the detailed assumptions into financial reports designed for planning, lender review, investor analysis and scenario testing.

01 / MONTHLY & ANNUAL DETAIL

Follow the full operating timeline

Review revenue by machine type, variable costs, fixed expenses, EBITDA, other cash flow items, total cash flow and cumulative cash flow.

02 / EXECUTIVE SUMMARY

Bring the key annual results together

See annual financial line items through cash flow alongside KPI visuals for revenue, expenses, EBITDA, liquidity, debt and machine performance.

03 / DCF & EQUITY RETURNS

Compare project, owner and investor views

Use the DCF analysis to review value and cash flows from different stakeholder perspectives, including IRR and equity multiple.

04 / FEASIBILITY METRICS

Check what the operating plan must support

Review break-even requirements, average EBITDA per machine, ROI, DSCR and scenario outcomes as pricing, seasonality, costs and financing change.

See the framework applied to a real listing

A $2.95 million laundromat acquisition analysis.

Review how the asking price, reported SDE, imputed rent, debt coverage, equipment needs and the potential addition of wash-dry-fold and commercial accounts affected the investment case.

View the Deal Analysis

Who gets value from it

Built for laundromat operating and investment decisions.

Startup founders

Estimate machine purchases, startup capital, capacity, pricing and the sales level required to support the initial operation.

Existing owners

Test equipment additions, pricing changes, utilization improvement, operating costs and the timing of future capital spending.

Buyers and investors

Evaluate the capital structure, debt coverage, financial statements, cash requirements, exit value and equity returns.

Lenders, CFOs and advisors

Use a connected forecast to discuss assumptions, sources and uses, debt service, downside risk and funding requirements.

Bundle options

Need a broader modeling library?

The Industry-Specific Bundle includes the Advanced Version and the Standard workbook packaged with it. The other collections below provide additional service-business and cross-industry modeling options.

Industry-Specific Bundle

Includes the Advanced Laundromat Version and the Standard workbook that comes with it, plus models for many other industries.

View Industry-Specific Bundle

Service Business Models

Compare financial models for laundromats and other businesses built around customers, capacity, staffing and field operations.

View Service Business Models

Super Smart Bundle

Explore the broadest SmartHelping collection for operating forecasts, valuation, finance, real estate and more.

View Super Smart Bundle

Related financial models

Compare other property-based and service businesses.

Dry Cleaning Financial Model

Forecast multiple revenue streams, pricing, operating costs, capital investment, financial statements and returns for a dry-cleaning business.

Explore the dry-cleaning model

Car Wash Financial Model

Model customer volume, membership revenue, wash pricing, variable costs, fixed overhead and financial results for a car-wash operation.

Explore the car-wash model

Cleaning / Janitorial Financial Model

Build a service-business forecast around customers, crews, billable activity, labor, overhead, financing and investor returns.

Explore the cleaning model

Property Management Financial Model

Forecast managed units, service pricing, staffing and operating expenses for a recurring-revenue property management business.

Explore the property management model

Questions before you choose

A few useful details.

Which version should I choose?

Choose Standard if you need the core machine, capacity, operating expense, capital, debt, financial statement, valuation and return model. Choose Advanced if you also need building purchase-versus-rent logic, a sale-leaseback, three separate loan facilities, bonus depreciation, quarterly tax-payment timing or an NOL carryforward.

Does the $99 Advanced purchase include the Standard Version?

Yes. The Advanced purchase includes the Advanced workbook and the Standard workbook at no additional charge. The $45 Standard purchase includes only the Standard Version.

How long is the forecast?

The model supports up to ten years of activity. You can stop the forecast at any selected month within that period, while the reporting includes monthly and annual views.

How detailed is the machine schedule?

You can configure five washer types and five dryer types. Each type has assumptions for purchase timing, quantity, unit cost, price per use, maximum hours available, average cycle time and useful life.

Does the model include financial statements and return analysis?

Yes. Both versions include monthly and annual income statements, balance sheets and cash flow statements, plus an executive summary, DCF analysis, IRR, equity multiple, ROI, DSCR and operating visualizations.

Can I use it for an existing laundromat or acquisition?

Yes. Replace the example assumptions with the machine mix, pricing, utilization, expenses, investment and financing structure you are evaluating. The model can support a startup, existing operation, acquisition or expansion plan.

Put the machines, financing and returns in one plan

Choose the version that fits the transaction.

Standard is $45. Advanced is $99 and includes Standard.

Compare the Two Versions