Budgeting and forecasting

[Bigjay73]

Any good online or other easily accessible courses or learning materials for someone needing a crash course course on budgeting and forecasting for a retail business, specifically HVAC materials? I don't need to be an expert, just a good understanding of the processes, strategies and what all those damn acronyms mean lol

 

[SAJ-99]

Ahhh acronyms. It's how people sound like experts in their field, even if they have no idea what they are talking about. Found this...https://grovehvac.com/hvac-acronyms-and-abbreviations/

Budgeting and forecasting are different. Have you looked hacking a cashflow spreadsheets?

 

[TexAg09]

I work in the HVAC industry with chilled, condenser and heating hot water applications. (Usually large facility applications.) Let me know if I can help with anything. I'm in sales for a materials manufacturer, so my budgets and forecasts are mainly directly related to our products. As a rule of thumb I figure the mechanical value to be 20% of the project's overall cost, but that can vary depending on the type of facility it is. I would figure data centers to be higher than 20% for example. I'm assuming you are looking into more general market forecasting though and not project specific? Do you have any historical data to work off of?

 

[Bigjay73]

Ahhh acronyms. It's how people sound like experts in their field, even if they have no idea what they are talking about. Found this...https://grovehvac.com/hvac-acronyms-and-abbreviations/

Budgeting and forecasting are different. Have you looked hacking a cashflow spreadsheets?

I don't even know what a cashflow spreadsheet is lol. I'll Google it. Thanks!

Edit: googled it, boss and I have been working on one for the remainder of the year as well as for '25. Neat stuff. Funny that I had no idea what it was actually called

 

[Bigjay73]

I work in the HVAC industry with chilled, condenser and heating hot water applications. (Usually large facility applications.) Let me know if I can help with anything. I'm in sales for a materials manufacturer, so my budgets and forecasts are mainly directly related to our products. As a rule of thumb I figure the mechanical value to be 20% of the project's overall cost, but that can vary depending on the type of facility it is. I would figure data centers to be higher than 20% for example. I'm assuming you are looking into more general market forecasting though and not project specific? Do you have any historical data to work off of?

I was in the field for 25years, mostly industrial. I took a position to manage/grow the parts department of an engineering/ equipment distribution company. We're almost completely an OEM distribution company, but we're planning on opening a full fledged supply house as soon as we find a location. Fortunately, they wanted me for my field and management background, know that I have a lot to learn on the office side of things. Learning a lot already, boss is very intelligent and very easy to work with.