There is provided systems and methods for creating a repository of templates. The templates are deterministic of a configuration a virtual machine. The method includes creating one or more templates for each of one or more applications types based on a benchmark data. Each of the one or more templates is stored in a hierarchal structure having one or more hierarchal levels. Each of the one or more hierarchal levels is indicative of a parameter of the configuration of the virtual machine. Thereafter, one or more rules are defined to traverse through the one or more hierarchal levels to access the one or more templates.