Question
Here is the Topic: an online company that will deal in integrated health services (App and Website), mobile medical laboratory, and home delivery of health
Here is the Topic: an online company that will deal in integrated health services (App and Website), mobile medical laboratory, and home delivery of health and wellness products
I would like to have a business plan with the following items :
Section 1: Executive Summary (2 of 2)
Key Insights
In many instances an investor will first ask for a copy of the firms PowerPoint deck or executive summary and will request of a copy of the full business plan only if the PowerPoint deck or executive summary is sufficiently convincing.
The executive summary, then, is arguably the most important section of a business plan .
Section 2: Industry Analysis
Industry Analysis This section should begin by describing the industry the business will enter in terms of its size, growth rate, and sales projections. Items to include in this section:
Industry size, growth rate, and sales projections.
Industry structure.
Nature of participants.
Key success factors.
Industry trends.
Long-term prospects. Key Insights
Before a business selects a target market it should have a good grasp of its industryincluding where its promising areas are and where its points of vulnerability are.
The industry that a company participates in largely defines the playing field that a firm will participate in.
Section 3: Company Description
Company Description This section begins with a general description of the company. Items to include in this section:
Company description.
Company history.
Mission statement.
Products and services.
Current status.
Legal status and ownership.
Key partnerships (if any). Key Insights
While at first glance this section may seem less important than the others, it is extremely important.
It demonstrates to your reader that you know how to translate an idea into a business.
Section 4: Market Analysis
Market Analysis The market analysis breaks the industry into segments and zeroes in on the specific segment (or target market) to which the firm will try to appeal. Items to include in this section:
Market segmentation and target market selection.
Buyer behavior.
Competitor analysis.
Estimate of the firms annual sales and market share. Key Insights
Most start-ups do not service their entire industry. Instead, they focus on servicing a specific (target) market within the industry.
Its important to include a section in the market analysis that deals with the behavior of the consumers in the market. The more a start-up knows about the consumers in its target market, the more it can tailor its products or services appropriately.
Section 5: The Economics of the Business
The Economics of the Business This section addresses the basic logic of how profits are earned in the business and how many units of a businesss profits must be sold for the business to break even and then start earning a profit. Items to include in this section:
Revenue drivers and profit margins.
Fixed and variable costs.
Operating leverage and its implications.
Start-up costs.
Break-even chart and calculations. Section 5: The Economics of the Business (2 of 2) Key Insights
Two companies in the same industry may make profits in different ways. One may be a high-margin, low-volume business, while the other may be a low-margin, high-volume business. Its important to check to make sure the approach you select is sound.
Computing a break-even analysis is an extremely useful exercise for any proposed or existing business.
Section 6: Marketing Plan
Marketing Plan The marketing plan focuses on how the business will market and sell its product or service. Items to include in this section:
Overall marketing strategy.
Product, price, promotions, and distribution.
Sales process (or cycle).
Sales tactics. Key Insights
The best way to describe a start-ups marketing plan is to start by articulating its marketing strategy, positioning, and points of differentiation, and then talk about how these overall aspects of the plan will be supported by price, promotional mix, and distribution strategy.
Its also important to discuss the company sales process.
Section 7: Product (or Service) Design and Development Plan
Design and Development Plan If youre developing a completely new product or service, you need to include a section in your business plan that focuses on the status of your development efforts. Items to include in this section:
Development status and tasks.
Challenges and risks.
Projected development costs.
Proprietary issues (patents, trademarks, copyrights, licenses, brand names). Section 7: Product (or Service) Design and Development Plan (2 of 2) Key Insights
Many seemingly promising start-ups never get off the ground because their product development efforts stall or the actual development of the product or service turns out to be more difficult than thought.
As a result, this is a very important section for businesses developing a completely new product or service.
Section 8: Operations Plan
Operations Plan Outlines how your business will be run and how your product or service will be produced. A useful way to illustrate how your business will be run is to describe it in terms of back stage (unseen to the customer) and front stage (seen by the customer) activities. Items to include in this section:
General approach to operations.
Business location.
Facilities and equipment. Key Insights
Your have to strike a careful balance between adequately describing this topic and providing too much detail. As a result, it is best to keep this section short and crisp.
Section 9: Management Team and Company Structure (1 of 2)
Management Team and Company Structure The management team of a new venture typically consists of the founder or founders and a handful of key management personnel. Items to include in this section:
Management team.
Board of directors (if you have one).
Board of advisors (if you have one).
Company structure. Key Insights
This is a critical section of a business plan.
Many investors and others who read the business plan look first at the executive summary and then go directly to the management team section to assess the strength of the people starting the firm.
Section 10: Overall Schedule
Overall Schedule A schedule should be prepared that shows the major events required to launch the business. The schedule should be in the format of milestones critical to the businesss success. Examples of milestones:
Incorporating the venture.
Completion of prototypes.
Rental of facilities.
Obtaining critical financing.
Starting production.
Obtaining the first sale. Key Insight
An effectively prepared and presented schedule can be extremely helpful in convincing potential investors that the management team is aware of what needs to take place to launch the venture and has a plan in place to get there.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started