Free Hospice Business Plan
For Raising Capital from Investors, Banks, or Grant Companies!
Please note that the financials
in this complete free business plan are completely fictitious and may not
match the text of the business plan below. This free business plan demonstration
purposes only. If you are interested in purchasing the completed editable MS Word
and Excel documents for this business plan, please click the button below! Also,
the text of the business plan is formatted with a fully automated
table of contents.
It should be noted that there is no special software required to use these
templates. All business plans come in Microsoft Word and Microsoft Excel format.
Each business plan features:
- Excecutive Summary
- Company and Financing Summary
- Products and Services Overview
- Strategic Analysis with current research!
- Marketing Plan
- Personnel Plan
- 3 Year Advanced Financial Plan
- Expanded Financial Plan with Monthly Financials
- FREE 30 Page Sample Private Placement Memorandum
- FREE PowerPoint Presentation for Banks, Investors,
or Grant Companies!
- All plans are updated for 2013!
1.0 Executive Summary
The purpose of this business plan is to raise $1,000,000 for the development of a hospice facility while showcasing the expected financials and operations over the next three years. Hospice, Inc. (“the Company”) is a New York based corporation that will provide in-patient hospice services through its facility to customers in its targeted market. The Company was founded in 2009 by John Doe.
1.1 Products and Services
The Hospice will be in the business of providing in patient hospice services that allow terminally ill people to pass away in a comfortable environment with round the clock medical support. The Company will employ a number of on staff nurses and contracted health professionals to ensure that the patients are tended to properly. Outsourced healthcare professionals include pain management physicians, pharmacists, and mental healthcare professionals. A significant portion of the Company’s revenue will come from reimbursement programs operated by the Federal government and state government healthcare programs. As such, the revenues of Hospice, Inc. are immune from changes in the general economy. The third section of the business plan will further describe the services offered by Hospice, Inc.
1.2 The Financing
Mr. Doe is seeking to raise $1,000,000 from as a bank loan. The interest rate and loan agreement are to be further discussed during negotiation. This business plan assumes that the business will receive a 30 year loan with a 7% fixed interest rate.
1.3 Mission Statement
It is the goal of the Company to continue to provide a caring environment for those that require hospice services and round the clock medical attention as they prepare to pass away.
1.4 Mangement Team
The Company was founded by John Doe. Mr. Doe has more than 10 years of experience in the healthcare industry. Through his expertise, he will be able to bring the operations of the business to profitability within its first year of operations.
1.5 Sales Forecasts
Mr. Doe expects a strong rate of growth at the start of operations. Below are the expected financials over the next three years.
1.6 Expansion Plan
The Founder expects that the business will aggressively expand during the first three years of operation. Mr. Doe intends to implement marketing campaigns that will effectively target families with individuals that require continued care and oversight within a compassionate hospice facility.
2.0 Company and Financing Summary
2.1 Registered Name and Corporate Structure
Hospice, Inc. The Company is registered as a corporation in the State of New York.
2.2 Required Funds
At this time, Hospice, Inc. requires $1,000,000 of debt funds. Below is a breakdown of how these funds will be used:
2.3 Investor Equity
Mr. Doe is not seeking an investment from a third party at this time.
2.4 Management Equity
John Doe owns 100% of Hospice, Inc
2.5 Exit Strategy
If the business is very successful, Mr. Doe may seek to sell the business to a third party for a significant earnings multiple. Most likely, the Company will hire a qualified business broker to sell the business on behalf of the Hospice. Based on historical numbers, the business could fetch a sales premium of up to 6 times earnings plus the value of the appreciated real estate owned by Hospice, Inc.
3.0 Products and Services
The Company intends to provide in-patient hospice services to terminally ill patients throughout its target market. These services include providing a comfortable environment for the terminally ill, providing proper medication, and ensuring that the process of death is completed peacefully. Hospice is a compassionate, patient-centered approach to medical care and support for people at the end of life and their families. Its care focused on maintaining dignity, increasing quality of life, and providing comfort, including pain and symptom control. Hospice, Inc. recognizes that every person's experience will be different and the hospice team creates a plan of care according to the individual needs and wishes of each patient. Hospice staff members will be available at all times, 24 hours a day, 365 days a year. It is the mission of Hospice staff to walk side-by-side with patients and offer support, not only for any physical symptoms, but for emotional and spiritual needs, as well. This support extends to family members, and hospice helps them cope with their own unique emotional and spiritual concerns.
4.0 Strategic and Market Analysis
4.1 Economic Outlook
This section of the analysis will detail the economic climate, the hospice industry, the customer profile, and the competition that the business will face as it progresses through its business operations. Currently, the economic market condition in the United States is in recession. This slowdown in the economy has also greatly impacted real estate sales, which has halted to historical lows. Many economists expect that this recession will continue until mid-2009, at which point the economy will begin a prolonged recovery period. However, hospices tend to operate with a great level of economic stability as people will continue to pass away regardless of the general economic climate.
4.2 Industry Analysis
The full industry research for the Hospice is available with the full purchase of the business plan.
4.3 Customer Profile
In this section of the analysis, you should describe the type of customer you are seeking to acquire. These traits include income size, type of business/occupation; how far away from your business is to your customer, and what the customer is looking for. In this section, you can also put demographic information about your target market including population size, income demographics, level of education, etc.
4.4 Competitive Analysis
This is one of the sections of the business plan that you must write completely on your own. The key to writing a strong competitive analysis is that you do your research on the local competition. Find out who your competitors are by searching online directories and searching in your local Yellow Pages. If there are a number of competitors in the same industry (meaning that it is not feasible to describe each one) then showcase the number of businesses that compete with you, and why your business will provide customers with service/products that are of better quality or less expensive than your competition.
5.0 Marketing Plan
Hospice, Inc. intends to maintain an extensive marketing campaign that will ensure maximum visibility for the business in its targeted market. Below is an overview of the marketing strategies and objectives of the Company.
5.1 Marketing Objectives
• Establish relationships with doctors that will refer business to Hospice, Inc.
• Implement a local campaign with the Company’s targeted market via the use of local newspaper advertisements and word of mouth advertising.
• Develop an online presence by developing a website and placing the Company’s name and contact information with online directories.
5.2 Marketing Strategies
The Company intends to use a referral network from doctors, surgeons, hospitals, and post operative clinics in target area in order to generate a patient list. As such, it is imperative that the Company develop these relationships these medical professionals at the onset of operation. Many insurance carriers and Medicare/Medicaid require that a physician authorize the use of hospice services. The Company will use both traditional and experimental forms of marketing to inform, educate, and sell the Company’s in patient hospice services. Traditional means of advertising will include print and media advertising within local newspapers in the target market. Finally, the Company will develop an online website that will showcase the Hospice facility, its operations, its fees, and its commitment to compassionate care for terminally ill patients.
In this section, describe the pricing of your services and products. You should provide as much information as possible about your pricing as possible in this section. However, if you have hundreds of items, condense your product list categorically. This section of the business plan should not span more than 1 page.
6.0 Organizational Plan and Personnel Summary
6.1 Corporate Organization
6.2 Organizational Budget
6.3 Management Biographies
In this section of the business plan, you should write a two to four paragraph biography
about your work experience, your education, and your skill set. For each owner or
key employee, you should provide a brief biography in this section.
7.0 Financial Plan
7.1 Underlying Assumptions
• Hospice, Inc. will have an annual revenue growth rate of 7% per year.
• The Owner will acquire $1,000,000 of debt funds to develop the business.
• The loan will have a 30 year term with a 7% interest rate.
7.2 Sensitivity Analysis
Terminally ill people require hospice services regardless of the overall economic climate. As such, the Company does not expect that economic recessions or downturns will affect the overall profitability of the Company. Additionally, much of the revenues generated from the Company are paid for by public health systems. As this is a health and medical services related business, the Company is insulated from any changes in the economy.
7.3 Source of Funds
7.4 General Assumptions
7.5 Profit and Loss Statements
7.6 Cash Flow Analysis
7.7 Balance Sheet
7.8 General Assumptions
7.9 Business Ratios
Expanded Profit and Loss Statements
Expanded Cash Flow Analysis