Hardware as a Service Financial Projection Model

Build detailed financial projections to bolster investor presentations and loan requests. Utilize this customizable Excel template with auto-generated 5-year financial statements, more than 20 charts showcasing essential metrics, and a video guide.

How it works?

Template price: $


  • 5 Year Projected Financial Statements
  • CPA Developed & Completely Customizable
  • Video Guide Included
  • Free Support & Projections Review
  • Compatible with Google Sheets

Our CPA developed DIY template enables you to create professional projections all on your own with your own unique assumptions.

Have investor- and lender-ready projections ready to go in just a few hours.

Our CPA developed template enables you to create professional projections based on your unique assumptions.

Create investor- and lender-ready projections in hours, not days.

Built for hardware as a Service businesses specifically — our ProjectionHub software has been used by over 40,000 unique businesses to develop financial projections. Based on that feedback we decided to create a fully customizable yet easy to use Excel template that makes creating investor-ready financial projections for a Hardware as a Service financial model incredibly simple.

How it works?

Watch a demo of the template

Save time & money - get organized with our template!

Get the hardware as a service template now for $99

The template price: $



100% money-back guarantee for 30 days!

 Revenue Projection Template Example

Step 1: Purchase and download the template

After purchase, you will download an unlocked Excel file with a ready-to-use financial projection template for your business model. You can also open the file to use in Google Sheets!

Download Now

Step 2: Enter your assumptions on the input tabs

Hardware as a Service Revenue Prediction

  • This will help you project sales from two sources: hardware sales and software subscription support. The model will first help you predict hardware sales based on a conversion rate of website visitors and returning customer upgrades. Software / support revenue is calculated based on hardware customers and a per-month fee. Revenue will automatically be calculated and updated on the financial statements. The revenue model also helps you calculate any per-user expenses and the cost of goods sold for hardware. 

Hardware as a Service Sales Operating Expenses

  • You will be guided to provide any other expenses in the operating expense tab, which gives some recommended line items and starting amounts to help. This model will pass through the expenses and cash flows to the financial statements automatically. You can provide your monthly overhead as either fixed amounts or you can choose to set them as a percentage of revenue for any variable costs that change each month.

Hardware and SaaS General Assumptions

  • The general assumptions sheet will require balance sheet values such as fixed assets, loans, investments, inventory assumptions, and accounts receivable assumptions. The template will have you input some basic data and then take care of the rest by calculating loan amortization, interest expense, depreciation expense, inventory purchases, etc. 

HaaS Salaries and Distributions

  • The salaries and distributions model calculates costs associated with salaried employees, including items like employer taxes and benefits for an overall cost picture.

Step 3: The model is automatically updated based on your assumptions

Hardware as a Service Financial Snapshot

  • The At-A-Glace tab shows you a financial overview in the form of different graphs, charts, ratios, and financial summaries, all ready to be copied into and enhance a pitch deck. 

HaaS Financial Pro Formas Tab

  • There are six separate Financial Statement tabs: the annual and monthly formats of the income statement, cash flow statement, and balance sheet. Not to worry, our balance sheets always balance, automatically. 

Investor Dashboard Tab

  • The Investor Dashboard tab enables you, or anyone you’d like such as an investor, to see the effect of changing any or all of the main assumptions of the revenue prediction model. This tab provides the profit and loss statement from your model and a special, modified version that updates as you change the major assumptions. This enables you to see how volatile your model is to certain variables without the extra work of changing the data you already filled out.

 Income Projection Chart Example

Tables, charts, graphs and dashboards include:

Tables, charts, graphs and dashboards include:

  • Profit and loss at a glance table
  • Use of start-up funds graph
  • Key ratios table ​​
  • Cash generated from operating activities graph ​
  • Investor dashboard ​
  • 5 years of monthly and annual income statement, cash flow and balance sheet reports
  • Profit and loss at a glance table

  • Use of start-up funds graph

  • Key ratios table

  • ​Cash generated from operating activities graph

  • Investor dashboard

  • 5 years of monthly and annual income statement, cash flow and balance sheet reports

Step 4: If you need help, we're here

We can fill out or modify any of the templates we sell, and we’re always happy to answer questions.

When you call us, you can speak directly to the developers of the model, not a call center or customer service representative.

Contact us in the most convenient way for you. We're here to help you

If the model doesn’t work for you, we’re happy to provide a refund.

View other models like our enterprise Saas financial projection template.

Questions? Get in touch.
Contact Us

What ProjectionHub Customers Think

The cost of the template is estimated at $ 2000

If you hired a CPA to build this template from scratch it would take at least 20 hours of billable time to build a similar template. At an average hourly rate of $100 per hour it would cost you $2,000.

20 hours X $100 = $2,000 value

But we've already done all the work and you don't need to hire a CPA

Save time & money - get organized with our template!

Get the hardware as a service template now for $99

The template price: $



100% money-back guarantee for 30 days

Back to Top

Our Projection Protection Guarantee

Love it or Swap it
If the template you purchase is not the perfect fit, our team will help recommend the right template and swap your template for no extra charge. You can rest assured we'll make sure you are using the right template.
Expert Review
After you fill out your template, you can upload your projections to our team where we will do a complete review and then send you a custom video recording of us providing feedback so you can feel confident your projections are investor & lender ready.
See How
Help as You Go
Our team will be standing by so you can get help as you fill out your projection template. Through email and custom video recordings, we will make sure you understand how to complete your projections.
See How

You may also like these templates

The ProjectionHub Team

Grace Cisna, CPA

Before joining ProjectionHub, Grace served as an auditor for a public accounting firm in Indianapolis. There, she audited start-up tech companies, major regional hospitals, public manufacturers and everything in between.

As an auditor, she gained insight to the inner workings of all kinds of business models. Grace is a CPA, has a bachelor’s degrees in Accounting and French and a Master’s of Accountancy all from the University of Iowa, where she also taught introductory accounting classes to undergraduates.

Grace loves to use her accounting expertise to serve as an advisor to her clients, helping them understand what it takes to make a business succeed.

Adam Hoeksema — Co-founder ProjectionHub

Adam is the co-founder of ProjectionHub which is a SaaS web application that helps entrepreneurs create financial projections for their business.

Since 2012, over 40,000 entrepreneurs from around the world have used ProjectionHub to help create financial projections.

Adam also serves as the Executive Director of Bankable. Bankable is a Small Business Administration (SBA) lender that makes loans from $500 to $250,000 to Indiana small businesses that are unable to secure financing from a traditional bank.

Adam has managed the loan program since loan #1 in 2010. Since 2010, Bankable has closed over 1,200 loans totaling over $38,000,000. Adam is an entrepreneur at heart and loves working with entrepreneurs to launch and grow their business.

We are available to help you complete your projections


We'll answer your questions about how the template works


We can help you customize your template, add revenue models, expenses or custom charts, tables and graphs -> with our financial modeling services

Frequently Asked Questions

What should my profit margins be on the hardware in a hardware as a Service business model?

Oftentimes companies that sell hardware plus software will choose to minimize profit margins on the hardware and focus on generating profits from ongoing software subscription fees.  Some companies may even purposefully lose money on the hardware sale, or give you the hardware for “free” and simply make up the difference over time through software sales.  Your specific decision likely depends on how much investment you are able to raise.  If you are able to raise enough capital to be able to subsidize the cost of the hardware for the end customer, you will likely want to do that because you will be able to grow faster and increase the number of active subscriptions.   

How to secure startup funding for a hardware as a service business?

One popular way to secure funding for a hardware as a Service business is to pre sell the hardware to customers through platforms like Kickstarter.  If you are able to pre sell enough units you might be able to use those customer deposits to fund the development and production of the first run of units.  Even if you need to raise additional capital to complete the first run, any funding you can secure through customer deposits will lower the amount of equity that you have to sell or debt that you have to take out to fund the rest of your startup costs.  

How much does it cost to start a hardware as a service business?

Hardware as a Service businesses are much more capital intensive than pure software businesses.  In order to calculate your potential startup costs you should develop a prototype and meet with a manufacturer to get a quote for the minimum order you can make for your first manufacturing run.  In addition, you will need to get a quote for the software development from a 3rd party software development agency, or determine how many software engineers you would need and for how long to build your MVP software.  The fact that manufacturers typically have large minimum orders, you can expect that hardware plus software businesses will cost substantially more to startup than software only businesses.