A sales forecast is a plan to achieve a particular target in terms of sales revenue in a period, typically, a year. This plan can include sales strategies, markets to be targeted, trends and estimates from salespeople.
For example…
To establish whether setting up a food cart outside a sports stadium on big game days, Tahlia decided to do a sales forecast. She figured that people would come and get food before and after the game but most would do so at half-time. She estimated out of the eight thousand people, she would get about five thousand patrons. She assigned an average spend of six dollars for each patron and calculated that her sales forecast per game night would be thirty thousand dollars. Not a bad day at the office at all!
