Business Plan Essay Highlights.

Financial Plan

The report has been able to focus on the main types of financial plan for the implementation of a new business related to the app designed to provide Medical healthcare services. The partnership of the company has been doctors, pharmacy hospitals who will be benefitted from the app. The various types of the other key strategic alliance will be seen to be based on the consideration of the inclusion of the Government and the insurance companies.

The different types of the consideration for the financial plan have been able to include the start up cost. This start up cost has further included with the fixed costs, average monthly cost and owner’s funding. The owners fund has been taken into consideration with total amount of $100,000. Some of the different types of the other financial plan have been further able to include the various types of the consideration which has included the sales forecast, cash flow forecast and the payments relate to the operating expenses. The later part of the financial plan has been further able to depict the balance sheet.

The primary target of the business has been taken into consideration with eh various types the patients whose are age are seen to be ranging from old age patients and the belong to the core customer segment included from the app. The secondary target of the customer has been seen with the inclusion of the customers who are patient or needs medical assistance. Hence, the app is seen to be target a wider range o the audience. The main target of the patient has been further discerned with the new born baby.

The app has been further seen with the dedicated 24/7 customer relationship. The personal contact of the service has been able to allow for the one-on-one communication with the developers. The formation of the various types of the interaction channels will be done with the use of the web services, which will be able to deliver the overall value proposition of the business plan. This value will be delivered through various types of the value proposition strategies which will be provided along with the app to the customer. In this way the app will be able to grow the business into various divisions. It has been further been able to discerned that the different types the consideration for the inclusion of the customer relationship aspect will be delivered by conducting regular feedback and survey.

The designing of the support activities and inspiring the customers to have medicines in a timely manner is identified as the main value proposition for the company. It has been further discerned that the app is set to facilitate the consumption of the dosage mainly among the older age group. The company will also aim to facilitate the dosage consumption which assists them to stay on the agenda with the drugs. The mobile app will be also able to differentiate in terms of the value in terms of the price and the customer’s needs to be readily available to the target customers.

Customer Segment

The various types of the channels to the market will be done through online medical stores and internet. Some of the other channels market will be further seen with the use of email, social media website such as YouTube, Facebook, Twitter, Instagram. The other channels of marketing will be further based on doctors, hospitals, digital and print media.

The different types of the talent accumulation will be based on the accumulation of the intellectual property and the offering of the products. The various types of the key resources will be further based on the innovative, capable, knowledgeable, competent and skilled employees to develop and facilitate the various types of the operational activities through the marketing done by the app. 

The main activities will be done with the selling products through third parties via hospitals and doctors to reach to as many customers as possible. The channel management of the company will be done with the inclusion of the most important activities to engage. The continuous learning experience with the users has been further able to establish the products, which will be able to generate more value to the target customer segments. This has been further seen to be effective for the inclusion of the various types of the activities which will be able to assist the research and development.

Some of the main types of the key partners will be seen with the inclusion of the partnership of the company has been doctors, pharmacy hospitals who will be benefitted from the app. The various types of the other key strategic alliance will be seen to be based on the consideration of the inclusion of the Government and the insurance companies.

The primary sources of the revenue for the business will include key partners, direct customers and direct customers. The financial projections made in the business have been able to state that the business will be able to generate $ 85000 in the first year and $ 89250 in the next year. It has been further discerned that the business will be able to generate a total of $ 47000 from the direct customers and $ 49350 in the second year. The revenues generated from the advertising and the sales activities will be a able to contribute $ 55500 in the first year and $ 58275 in the second year. The total projected sales of the business have been discerned as $ 187500 in the first year and $ 196875 in the second year.

The several types of the cost structure of the business will be further seen in terms of the inclusion of the costs from the technical infrastructure, staff remuneration, marketing fees, IOS & Google play store charges and application developmental expenses. Some of the various types of the other cost components will be seen in terms of the inclusion of interest on loan, telephone, broachers, logo designs, and market survey and lease payments. The latter part of the cost structure has been further able to highlight on the lease payments, business registrations and preliminary expenses. It has been further seen that the total cost incurred by the company in the first year will be $ 181,882 and $ 202,934 in the second year. The fixed assets of the company will be seen with total cost of $ 18500 in the first year and $ 36000 in the second year. The total fixed asset has been further seen with computer of having a total value of $ 33300 in the first year and same value in the second year. The total amount of the projected sales of the company has been further discerned as $ 187500 in the first year and $ 196875 in the second year. The breakeven analysis has been further able to state $ 187500 revenue.

The startup capital requirements for the business have been further given below as follows:

Reference List

McKeever, M., 2016. How to write a business plan. Nolo.

Schaper, M.T., Volery, T., Weber, P.C. and Gibson, B., 2014. Entrepreneurship and small business.

Watson, K., McGowan, P. and Cooper, S., 2016. Reimagining the extracurricular business plan competition through the incorporation of effectuation.

Brinckmann, J., Read, S., Mayer-Haug, K., Dew, N. and Grichnik, D., 2015, January. Of those who plan: A meta-analysis of the relationship between human capital and business planning. In Academy of Management Proceedings (Vol. 2015, No. 1, p. 16198). Academy of Management.

Fulker, D., Timur, A., Dew, K. and Butler, J., 2016. A Case Study of the Grey Oaks Community and Club: Creation of a High-Performance Culture Through the Innovative Use of a Data-Driven Business Plan. International Journal of Hospitality & Tourism Administration, 17(1), pp.72-99.

Hopp, C. and Greene, F.J., 2017. In Pursuit of Time: Business Plan Sequencing, Duration and Intraentrainment Effects on New Venture Viability. Journal of Management Studies.

Blank, S., 2013. Why the lean start-up changes everything. Harvard business review, 91(5), pp.63-72.

Brinckmann, J. and Kim, S.M., 2015. Why we plan: the impact of nascent entrepreneurs' cognitive characteristics and human capital on business planning. Strategic Entrepreneurship Journal, 9(2), pp.153-166.