Creating a Budget Proposal Template
Do you have a project and want to attract potential investors or lenders? If you do, then you will need to create a budget proposal and offer it to them. Don’t worry. You don’t have to do this alone. We are here to help. We will show you how to create a budget proposal template to help you get started.
What Is a Budget Proposal?
To put it simply, it is a research-supported, detailed sales pitch for a project. These proposals are widely used in academic, corporate as well as nonprofit enterprises. They are among the most important parts of a grant proposal. Not only that, but a budget proposal can also be used to understand the scope of a certain project before it is presented.
Due to its importance, you need to create a budget proposal template that is not only accurate in terms of the expenses involved but also reasonable and offers valuable outcomes in return. Naturally, a good budget proposal is one that can convince evaluators to fund the project. We show you how to create one below.
How to Create
1. State the Goal or Purpose of the Project
The first section of the budget proposal template should be reserved for the goal or purpose of the project. You should write the goal clearly and concisely. Keep it short and simple, maintain clarity and elaborate on the benefits of the project.
2. List the Direct Costs
The second section is for the direct costs of the project. This includes the expenses of the product or service, it’s marketing and distribution. These expenses are called direct costs because they are related directly to said product or service.
3. Include Administration and Facilities Costs
Most funding, grants, and sponsorships generally don’t pay for administration and facilities expenses. The expenses include utilities, facilities use, insurance, support staff, accounting, and legal expenses. Because of this, you should write these expenses separately if you use the proposal to request sponsorships or grants for the project.
4. Expected Benefit or Revenue from the Project
The final section is for the expected benefits or revenue of the project. It should include the expected outcomes from the project such as donations, revenue from sales, completion of research, etc.
That is how you create a budget proposal template. A budget proposal should be clear, detailed, and professional. These are very important as the proposal is meant to convince evaluators. If you are still unsure or need an example or two, just browse and download templates on the internet. That should at least help you to get started.