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:
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 effected individuals within the target market.
2.0 Company and Financing Summary
2.1 Registered Name and Corporate Structure
Tattoo Removal Service, Inc. The
Company is registered as a corporation in the State of
2.2 Required Funds
At this time, the Tattoo Removal Service requires $150,000 of debt funds. Below is a breakdown of how these funds
will be used:
2.3 Investor Equity
Dr. Doe is not seeking an investment from a third party at this time.
2.4 Management Equity
John Doe owns 100% of Tattoo Removal Service, Inc.
2.5 Exit Strategy
If the business is very successful, Dr. Doe may seek to sell the practice 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 Tattoo Removal Service, Inc. Based on historical numbers, the business could fetch a sales premium of up to 2 to 3 times earnings.
3.0 Products and Services
3.1 Tattoo Removal Services
Primarily, the Tattoo Removal Service will be engaged in providing individuals with the ability to have their tattoos removed using specialized lasers that can diffuse the ink from a tattoo. This trend has become popular recently as people that got tattoos when they were younger want to have them removed as they become older.
The Company will also offer many of the services that are common within this specialty including treatment of medial issues including cancer screen tests, providing dermatology surgical services, treating acne, and providing referrals to other physicians when needed.
In the future, Dr. Doe will seek to hire additional physicians that will expand the practice organically through increased patient flow. These associate practitioners may eventually acquire the practice from Dr. Doe upon his retirement or relocation.
The practice will receive a bulk of its payments from direct customer payments (for tattoo removals), co-pays and reimbursements from insurance companies.
4.0 Strategic and Market Analysis
4.1 Economic Outlook
This section of the analysis will detail the economic climate, the medical practitioner 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 moderate. Unemployment rates have declined while asset prices have risen substantially. However, it should be noted that tattoo removal practices operate with great economic stability as people will continue to require health care despite deleterious changes in the general economy.
4.2 Industry Analysis
Within the United States there are approximately 200,000 medical practices (including mental health practices that are operated by psychologists) that comprise of one or more doctors or practitioners that act in a private practice capacity. Each year, these practices generate more than $190 billion dollars of revenue and employ more than 1.8 million people (including the practitioners and physicians). The growth of this industry has remained in lockstep with the growth of the general population. Approximately 5% of these doctors retire each year.
4.3 Customer Profile
Tattoo Removal Service’s average client will be a middle class man or woman living in the Company’s target market. Common traits among clients will include:
Annual household income exceeding $50,000
Lives or works no more than 15 miles from the Tattoo Removal Service location.
Will spend $1,000 on tattoo removal services.
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
Tattoo Removal Service 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 Tattoo Removal Service, Inc.
5.1 Marketing Objectives
Develop an online presence by developing a website and placing the Company’s
name and contact information with online directories.
Implement a local campaign with the Company’s targeted market via the use of
flyers, local newspaper advertisements, and word of mouth advertising.
Establish relationships with doctors in the target market.
5.2 Marketing Strategies
Dr. Doe intends on using a number of marketing strategies that will allow the Tattoo Removal Service, Inc. to easily target men and women within the target market. These strategies include traditional print advertisements and ads placed on search engines on the Internet. Below is a description of how the business intends to market its services to the general public.
Tattoo Removal Services, Inc. will also use an internet based strategy. This is very important as many people seeking local services, such as dermatology medical services, now the Internet to conduct their preliminary searches. Dr. Doe will register the Tattoo Removal Service with online portals so that potential customers can easily reach the business. The Company will also develop its own online website.
The Company will maintain a sizable amount of print and traditional advertising methods within local markets to promote the tattoo removal and dermatology services that the Company is selling.
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.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 Company has based its
proforma financial statements on the following:
The Tattoo Removal Service, Inc. will
have an annual revenue growth rate of 16% per year.
The Owner will acquire $150,000
of debt funds to develop the business.
The loan will have a 10 year
term with a 9% interest rate.
7.2 Sensitivity Analysis
In the event of an economic downturn, the Company will not see a major decline in revenues. Medical services (including tattoo removal services) are in demand regardless of the general economic climate as they are an essential service for health.
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