Costs and Your Bottom Line
Once you have your fishing business off the ground, determining how your costs are measuring up against your income becomes a top priority. Alaska Sea Grant has developed an Excel spreadsheet tool specifically for Alaska fishermen to help do this. (Note: you need Microsoft Excel to use this tool.)
This kind of proforma anaylsis is just a first step to making better business decisions. Remember, neither your annual tax return nor a rough estimate of cash-in/cash-out (such as this tool), are substitutes for actual long-term business planning. For more detailed financial tools that are the basis of a complete business plan, see "Financial Statements".
The "Fishing Vessel Operational Analysis" workbook below can help get a more detailed look at your fishing business costs and the required cashflow.
This Excel-based spreadsheet allows you to analyze various "what-if" scenarios in your fishing business. Enter predicted fuel, bait, gear, moorage, crew, and insurance costs and see how each changes your bottom line. You can look at the impact of different loan interest rates, or targeting different salmon species, or adjusting your days at sea. The workbook consists of eight linked worksheets. The one titled "Main Sheet" is your final product. The other seven sheets, automatically linked to the main sheet, are where you enter information in the input fields outlined in green. You will need to "enable macros" to use these sheets.
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The workbook consists of eight linked worksheets, with the one titled "Main Sheet" as your final product or summary page. The other seven sheets are where you enter information in the input fields outlined in green. For more detailed instructions on how to use these sheets, see below. This pdf contains instructions for using the Fishermen's Proforma spreadsheet.
This pdf contains instructions for using the Fishermen's Proforma spreadsheet.