Free Medical Staffing Agency 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!
1.0 Executive Summary
The purpose of this business plan is to raise $100,000 for the development of a medical staffing agency while showcasing the expected financials and operations over the next three years. The Medical Staffing Agency, Inc. (“the Company”) is a New York based corporation that will provide outsourced HR management and employment solutions for clinics, hospitals, and related medical facilities in its targeted market. The Company was founded in 2009by John Doe.
1.1 Products and Services
The Medical Staffing Agency intends to become a regional provider of temporary and permanent employment solutions for nurses/doctors/medical technicians that work in clinics, hospitals, assisted living facilities, and outpatient centers. The Company will also have the ability to easily source other medical professional such as physical therapists, speech pathologists, X-ray technicians, imaging equipment specialists, and other allied health professionals. There are a number of other related medical staffing services that are in strong demand among the Company’s potential clients. Once the Medical Staffing Agency establishes is initial revenue streams, the business could easily expand into other aspects of the local medical industry. The third section of the business plan will further describe the services offered by the Medical Staffing Agency.
1.2 The Financing
Mr. Doe is seeking to raise $100,000 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 10 year loan with a 9% fixed interest rate.
1.3 Mission Statement
The Medical Staffing Agency’s mission is to become the recognized leader in its targeted market for outsourced employment solutions for medical services businesses.
1.4 Mangement Team
The Company was founded by John Doe. Mr. Doe has more than 10 years of experience in the medical employment and staffing 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 hospitals, clinics, and other healthcare facilities within the target market.
2.0 Company and Financing Summary
2.1 Registered Name and Corporate Structure
Medical Staffing Agency, Inc. The Company is registered as a corporation in the State of New York.
2.2 Required Funds
At this time, the Medical Staffing Agency requires $100,000 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 the Medical Staffing Agency, 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 Medical Staffing Agency. Based on historical numbers, the business could fetch a sales premium of up to 4 times earnings.
3.0 Products and Services
As discussed in the executive summary, Medical Staffing Agency, Inc. will become a regional provider of permanent and temporary employment positions for nurses, doctors, and associated medical staff. Below is a brief overview of the services provided by the business. The primary focus of the Company’s services is the nursing segment of the market. The Medical Staffing Agency will be able to provide its clients with both traditional registered nurses as well as several nurses that have obtained specialties such as their nurse practitioners license or specific training in fields such as neonatal care, surgery, emergency medicine, psychiatric care, and other medical specialties. The Company will generates substantial gross margins from these services.
4.0 Strategic and Market Analysis
4.1 Economic Outlook
This section of the analysis will detail the economic climate, the medical staffing 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, medical staffing companies operate with great economic immunity as there is currently a shortage of labor in the medical industry. Additionally, people will continue to get sick and require medical attention despite deleterious economic conditions, and the business will be able to remain profitable in any economic climate.
4.2 Industry Analysis
As a whole, employment leasing services in the United States generate about $55 billion dollars with of revenue on a yearly basis. Approximately 1/3 of the industry is specifically geared toward the healthcare segment of the market. With strong demand among hospitals and physicians for trained nurses, technicians, and physicians, the industry has grown to accommodate this need. The industry generates $44 billion dollars a year of payrolls, and employs almost 2 million people. The industry is expected to grow tremendously over the next two decades as more people (especially baby boomers) require medical services. In the future, the Medical Staffing Agency may be able to develop ancillary services such as direct in home nursing as a complementary service to the healthcare employment services currently offered by the business. Several studies have indicated that there are more than 44 million Americans that active care for an elderly or developmentally disabled person.
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
The Medical Staffing Agency 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 Medical Staffing Agency.
5.1 Marketing Objectives
• Establish relationships with hospitals, assisted living facilities, out patient surgical centers, physicians’ practices, and other medical facilities.
• 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 develop a referral network from doctors, surgeons, hospitals, and post operative clinics within the target market. Since the Company is marketing directly to medical professionals and establishments, the costs associated with advertising are minimal. The Company will also use traditional forms of marketing that are targeted towards medical professionals in the target market community. Management intends to market directly within locally based medical journals for the medical profession. In regards to larger clients, like hospitals and outpatient facilities, the Medical Staffing Agency will directly contact these businesses to establish ongoing business relationships. Registered nurse, technician, and physician outsourcing is the most profitable aspect of this business, and the Company. should rapidly establish these relationships so that the business can immediately generate revenue from these sources. Finally, the Medical Staffing Agency will develop its own website that will feature information about the business, contact information, and preliminary pricing schedules for temporary and permanent medical staffing solutions that the Company offers.
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
• The Medical Staffing Agency will have an annual revenue growth rate of 16% per year.
• The Owner will acquire $100,000 of debt funds to develop the business.
• The loan will have a 10 year term with a 9% interest rate.
7.2 Sensitivity Analysis
The Company’s revenues are not sensitive to changes in the economy. The demand for nurses and associated medical professionals has continued to rise, and will continue to do so regardless of the state of the economy. Medical businesses are fully insulated from changes in the general economy as people will continue to require medical care. As such, there is very little risk that the Company will have any issues with generation.
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