The best in automation: business plans from Andreas Feofanov

Feo.finance is a startup that is currently based in Germany but offers services internationally. Its integrated templates for risk analysis, management accounting and business plan presentation have changed the growth and potential of businesses, and the world of automation as a whole. It's very rare that a company comes along that changes everything - revolutionizes its industry not only through its innovative entrepreneurship, but its ability to meet the needs of its industry in real time. 

Financial entrepreneur and CEO of Feo - Andreas Feofanov is taking this to the next level, scaling his startup to not only create an original space in his sector, but also push automation towards a greater goal: accessibility. For more than ten years, Feofanov has worked with companies on their financial security, developing business plan templates and financial modeling examples in Excel. These models included data that measured the success of a business, taking into account expenses, capital, assets, employees hired, and projections of future success. These business models sell for thousands of dollars. And if you go to a larger, more established company to get a financial model for your business, you could end up spending $10-20k. So while the big consulting companies are really helpful in their other services, the financial models and Excel calculators they sell can be a big drain on your budget. 

“These models, which cost business owners thousands of dollars, are all the same,” Feofanov says. “Businessmen think they are buying these personalized business models, but in fact they have long been created in Excel for other businesses - with formulas, the numbers of the new business are plugged in, and the result is a model that a person buys.”

After years of developing such models, Feofanov began to feel more and more how unfair the current system of financial models was. New business owners already had so much to do and expenses that spending thousands on used models seemed like a pain point that the financial industry needed to fix. Two years ago he decided to do something about it: and so he created his own startup - Feo.finance. Its goal is to make business models and business plan templates available to the public at a cost that is both affordable and realistic. The cheapest plan costs $15 per month, and business owners who want to build their brand with financial success and strategic business acumen can finally do it.

“The principle of Feo is that you go to our website, select the industry and type of business - for example, a cafe or a hotel - and get into a browser with a ready-made financial model in Excel,” explains Feofanov. “You can go in and change the numbers you want in this file, such as details of your assets, expenses, cash flow, hiring process, etc., and our program will subsequently produce results based on your personal data.” 

The website also states that the program operates on the basis of technical data input, capital costs, operating costs, revenue, financing and macro indicators. Once this data is entered, results appear, including cash flow statements, balance sheets, and recommendations and risks. The automation doesn't stop there: these financial models can be exported and shared with other users, as well as presented to investors and stakeholders. It doesn't matter where the business owner is located - in Japan, China, Germany, the USA or Australia, and no matter what currency they operate in - all models are adapted to the industry, country and language if necessary. 

“For too long, companies have charged huge amounts of money for financial models, allowing only 1% of business owners to successfully plan their corporation and its trajectory,” Feofanov says. “With Feo, we want to open the door for everyone to plan their business and know when they will break even.”

Feo.finance offers business plan templates for over 100 types of businesses - from food processing to retail, entertainment, real estate and more.

“To get the loan needed to build a business, a business owner needs these financial models and business plans, which Feo automates,” Feofanov explains. "Banks demand these big numbers because they know the data speaks for itself; they won't lend to companies that can't prove they can do it." And that's the key to Feo: its business model uses entered data to make recommendations. If he sees that the company's performance indicates that it may go bankrupt in the future, he will suggest another industry, sector or type of business, perhaps in another city, that performs better. In this way, Feo warns investors against bad investments and deters CEOs from starting businesses that will fail. 

The traditional approach to financial modeling has been complex, time-consuming and expensive. Business owners were left on the sidelines making financial decisions that could lead to poor financial planning or a bank denying a line of credit. Feofanov and his team of financial experts have revolutionized the planning and understanding of financial health, allowing businesses from around the world, in any industry, to realistically forecast their cash flow, break-even points and revenues. 

“We all deserve to have access to the building blocks that build business potential,” Feofanov said, smiling. “I want Feo to be the reason any business owner can make their dreams come true.”