For this Assignment #2 “Heath Care Business Plan” you will have to complete a formal paper
about your fictional Healthcare Business. The business plan must be related to the healthcare
field (e.g., a doctor’s office, a home healthcare practice, a new hospital, etc.). This assignment is
worth 100 points (20%) of your course weighted grade.
A businesses plan basic components include a current and pro forma balance sheet, an income
statement and a cash flow analysis. It helps you allocate resources properly, handle unforeseen
complications, and make the right decisions. Because it provides specific and organized
information about your company and how you will repay borrowed money, a good business plan
is a crucial part of any loan package. Additionally, it can tell your sales personnel, suppliers and
others about your operations and goals. Your business plan should precisely define your
business, identify your goals and serves as your companies resume.
Use the following questions below as a template and answer all questions. This paper requires
correct grammar, punctuation, and APA format. This assignment is worth 100 points (20%) of
your course grade. Points are for thorough content, creativity in the formal paper and correct use
of APA format. You are required to have a minimum of Three (3) references and your
references can be from refereed peer reviewed journal articles, textbooks, and or credible
Internet sources.
This assignment requires 10-20 pages (Excluding Title and Reference Page). The assignment
should be APA format, typed and submitted on a Word Document, font size 12 font, font names
that should be used are times new roman or Calabria (not both), normal margins (no more than 1
inch), double spaced.
Do not wait to begin working on your business plan, as it will take some time to complete.
The business plan should include the following components:
The name of your business
A description of your business. Describe your idea; purpose, mission, vision, background
information, and description of the product and or service. The business must be related
to the healthcare field (e.g., a doctor’s office, a home healthcare practice, a new hospital,
etc.) Discuss how your business will meet a significant marketplace need or solve a
problem or challenge that currently exists in the community. Discuss why you believe it
is worth pursuing.
Targeted location (Where you would propose to establish this business and explain your
reasoning).
Market analysis: Define the target market for your idea, why you think it exists, what you
believe to be the size of the market demand for your idea, and who your competitors will
be. Discuss how you would bring your product or service to market (how you would go
about building or developing your product, service or idea into a real, tangible product or
service that customers would want and buy). Perform a S.W.O.T. Analysis.
Budget: Create a budget that shows and discuss what it would cost in terms of time and
resources to bring it to market and make it available to the public. In doing so, outline
your plans to manage revenue (compliance management), manufacture the product or
perform the service (including the proposed manufacturing process or method of
performing the service) and your projection of the production costs, which may include:
material labor, employees, salaries, equipment facility, etc.).
Discuss risks and or uncertainties within your proposal: Outline what you believe are the
most significant risks and uncertainties that you are likely to experience in bringing your
idea to market and discuss how you would deal with them.
Marketing strategy: Discuss your marketing and sales strategies. In doing so, discuss:
Your target market and how you plan to reach that market (e.g. distribution strategy,
pricing strategy, promotion strategy). Discuss how your business will offer a unique
value proposition and be able to sustain a competitive advantage in the market. Discuss
your marketing plan and budget to promote the business online or offline.
Discuss expected Profit and Return on Investments (ROI): Estimate the revenues you
expect to earn, as well as the costs and expenses you expect to incur, and the resulting
profits you would expect to earn over the first 3–5 years. Remember, even a non-profit
business needs to be able to bring in enough revenues to cover its expenses. Estimate the
amount of money you think would have to be invested to get your business started.
Discuss your assessment of whether or not your business service is likely to be
successful.
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