What you Get With Oriental Medicine Center Business Plan Package
| 6 Chapter Business Plan Template in MS Word | Free Pitch Deck Template in PPT |
| 5 Year Financial Model Template in MS Excel | Free Financial Dashboard Template in MS Excel |
| Immediate Download After Purchase | MAC &PC Compatible, Unlocked, NO VBA Macro |
| Bank/Investor/Grant Ready Package | No Accounting Or Financial Knowledge Needed |
I.- Executive Summary
Problem
Despite the growing popularity of alternative medicine practices in recent years, there continues to be a noticeable gap in access and availability of quality oriental medicine services in Chicago and the surrounding areas. Those who would like to learn about and benefit from traditional Chinese medicine practices have difficulty finding knowledgeable, professional providers and have limited access to educational resources on the subject.
Harmonize Health aims to fill this gap by providing a comprehensive range of oriental medicine treatments and products along with dedicated educational workshops and events. Through our center, we seek to create a holistic healing experience for our customers and provide them with the skills and knowledge to maintain long-term health and well-being.
Solution
At Harmonize Health, our goal is to bridge the gap between traditional and modern healthcare. We provide our customers a comprehensive range of products and services that address their individual needs and promote overall wellbeing. Our professional and knowledgeable staff members are dedicated to providing quality services such as traditional Chinese medicine, acupuncture, cupping, Chinese herbal medicine, Chinese nutritional therapy, massage, medical Qigong and a variety of supplements. In addition, our center will host educational workshops and events to further explore the healing benefits of traditional oriental medicine practices.
Target Market
Harmonize Health seeks to attract a variety of customers with its wide range of services and products. Our target market consists of individuals of all ages and backgrounds who are looking for a holistic approach to healthcare, wellbeing and healing. We believe our customers will mainly come from Chicago as well as the surrounding suburbs. Our target market also includes those seeking to complement their existing medical practices with alternative medicines.
In order to ensure we meet the needs of this target market, we will be providing personalized consultations and treatments, along with educational workshops and events that focus on traditional oriental medicine practices. We will also offer a wide range of herbal medicine products, nutrition and dietary therapy, as well as massage and Qigong services. We are confident that our services and products will meet the needs of our target market and will make Harmonize Health the premier well-being center in the Chicago area.
Competition
Harmonize Health will be competing against other holistic healing centers, traditional and modern healthcare establishments, supplement and health product stores, and other traditional Chinese medicine practitioners in the Chicago area. Our competitors offer similar services and products, however, Harmonize Health plans to stand out from the competition by focusing on providing an individualized and holistic approach to health. Furthermore, our center will feature exclusive and unique services such as medical Qigong, educational workshops, and an inviting atmosphere that promotes wellbeing.
Financial Summary
The financial plan for Harmonize Health includes the following key highlights:
- Start-up costs of approximately $30,000, which include lease costs, registration fees, and furnishings.
- An expected annual revenue of $80,000 in the first year, increasing to $225,000 in the third year.
- A return on investment of 5.2% in the first year, rising to 14.5% in the third year.
- A net profit of $20,000 in the first year, increasing to $72,000 in the third year.
We are confident that our financial plan is both achievable and solid, providing a strong base for our business to grow and thrive in the upcoming years.
Funding Requirements:
In order to get Harmonize Health off the ground, the following funding requirements must be met:
- Rent or purchase of suitable premises
- Recruitment and training of qualified health professionals
- Acquisition of necessary medical equipment and supplies
- Marketing and promotion of services and products
- Development of promotional materials and website
- Start-up capital for utilities and miscellaneous expenses
Milestones and Traction
Harmonize Health has had a strong foundation in the oriental medicine sector, having grown its network over the past few years. We have consistently achieved milestones that have established us as the premier well-being center in the Chicago and surrounding areas. We have:
- Successfully operated for more than three years in our Chicago center
- Developed a loyal customer base
- Continuously provided quality products and services to our customers
- Engaged with our customers through multiple marketing channels
- Organized interactive workshops and events for our customers
- Built a culture of trust and loyalty among our customers
- Established an online presence through social media channels and website
We now aim to expand the reach of our services and reach out to more customers through additional marketing channels. We plan to augment our existing operations through aggressive marketing and promotions, and further refine our services. In our pursuit of this goal, we envisage a number of specific milestones to be achieved in the coming years.
II.- Products & Services
Problem
The healthcare industry is constantly evolving and the gap between traditional and modern healthcare practices continues to widen. Consumers are seeking alternative therapies and are often confused by the vast array of services available to them. Harmonize Health aims to simplify the task of finding and utilizing holistic health practitioners by providing a wide variety of products and services in one convenient location.
Our goal is to make it easier for our customers to connect with traditional oriental medicine practitioners and find the right treatments that address their individual needs. We recognize that each person’s experience with traditional medicine may be different and that they may require different amounts of treatments or services to get the desired results. For this reason, we aim to provide our customers with the necessary education and information to make empowered choices about their health.
Products & Services: Solution
At Harmonize Health, we provide a holistic approach to healing that combines trusted traditional medicine practices with modern treatments. Our range of products and services focuses on addressing individual needs and promoting overall wellbeing. Specifically, our offerings include traditional Chinese medicine, acupuncture, cupping, Chinese herbal medicine, Chinese nutritional therapy, Chinese dietary therapy, Chinese massage therapy, Chinese medical Qigong, and a selection of supplements that support healing and wellbeing. By offering our customers a variety of therapeutic services and health products, we strive to create a one-stop destination for holistic healing. That way, our customers can easily access all the treatments they need in one place and receive the best possible care. In addition, we will provide educational workshops and events to give our customers the opportunity to explore and deepen their understanding of traditional oriental medicine practices. By giving our customers the tools and resources to meet their personal healthcare needs, we hope to create a healing experience that is both comprehensive and fulfilling. We believe that our professional and knowledgeable staff combined with our commitment to quality and customer satisfaction will make Harmonize Health the go-to spot for achieving holistic wellbeing.
Validation of Problem and Solution
Harmonize Health has gone to great lengths to ensure that the range of services and products offered are based on evidence-based research and best practices. Our team of experienced practitioners has comprehensive knowledge of traditional oriental medicine, providing the best possible solutions for our customers. We use validated assessment and treatment protocols to guarantee the safety, effectiveness and quality of our services.
Our products are all sourced from reputable manufacturers and suppliers, ensuring only the best and most effective ingredients are used. We also review and conduct testing on every product before offering them to our customers, so they can rest assured that they are getting only the highest quality products.
Furthermore, our team is committed to continuously researching the latest developments in the field of oriental medical traditions, so that our clients can always rely on the best care, advice, and products.
Product Overview
Harmonize Health offers a wide range of products and services to provide their customers with the best holistic healing experience possible. Our services include traditional Chinese medicine, acupuncture, cupping, Chinese herbal medicine, Chinese nutritional therapy, Chinese dietary therapy, Chinese massage therapy, and Chinese medical Qigong.
We also have a variety of health and wellness products such as supplements, beauty products, holistic health-care items, and other related items to further promote optimal health and wellbeing. Our team is consistently researching and providing the best products that support and enhance our customers’ holistic health-care needs.
We believe our products, combined with our knowledgeable and professional staff, will make Harmonize Health the premier well-being center in Chicago and the surrounding areas. Our product and service offerings create a unique and comprehensive holistic healing experience that is tailored to each and every customer.
Competition
The Chicago area is home to a variety of holistic health centers and oriental medicine options, and Harmonize Health will be one of many to choose from. Our goal is to stand out from the competition by providing an individualized, holistic healing experience that takes into account both traditional and modern methods. We believe that Harmonize Health will provide exceptional services in the areas of traditional Chinese medicine, acupuncture, Chinese herbal medicine, Chinese massage therapy, Chinese nutritional therapy and Chinese dietary therapy. Our center will also offer a range of educational services, workshops, and events that will help our customers further explore the healing benefits of oriental medicine practices. We will also provide an array of supplements and other health products that support optimal wellbeing. By utilizing our experienced staff, quality products and services, and commitment to holistic healing, we are confident that Harmonize Health will be a leader in the oriental healing center industry.
Roadmap: Products & Services
At Harmonize Health, we have already taken the necessary steps to provide our customers with an array of high-quality products and services, including traditional Chinese medicine, acupuncture, cupping, Chinese herbal medicine, Chinese nutritional therapy, Chinese dietary therapy, Chinese massage therapy, and Chinese medical Qigong. We believe that our experienced team of healthcare professionals, combined with our use of traditional oriental medicine practices, will offer a holistic therapeutic experience to our customers.
In addition to the services and products we already offer, we are also planning to include a space for educational workshops and events to help our customers further explore the healing benefits of traditional oriental medicine practices. We are confident that our combination of knowledgeable practitioners and quality products and services make Harmonize Health the premier wellbeing center in Chicago and the surrounding areas.
III.- Market Analysis
Market Segmentation
Harmonize Health’s potential customer base can be divided into three primary segments: those seeking relief from acute symptoms, those seeking to maintain wellness, and those engaged in preventive care. This segmentation is based on the product and services offered and their ability to target each of these consumer needs.
| Segment | Description | Target Audience |
|---|---|---|
| Symptom Relief | Individuals seeking relief from acute symptoms such as pain and fatigue | People suffering from chronic or acute health issues |
| Wellness Maintenance | Individuals seeking to maintain an overall balance of health | People looking to increase energy, focus and overall wellbeing |
| Preventive Care | Individuals engaging in proactive efforts to prevent health issues | People seeking to prevent future health problems, optimize their health and longevity |
Harmonize Health’s tailored products and services make it easier for customers to find the best fit for their individual needs. By utilizing the above market segment breakdown, Harmonize Health will target potential customers that represent each segment, ensuring a diverse range of customers that can make use of the unique resources and services offered.
Target Market Segment Strategy
Our ideal customer is anyone looking for an alternative solution to their medical needs, as well as individuals seeking healthier, holistic treatments that may not be available in traditional medical settings. Our services are tailored to meet the needs of adults of all ages, children, and the elderly. We will strive to be a trusted source of information on Oriental medicine and provide access to our team of skilled practitioners in order to provide treatments that are both customized and holistic.
Our target customer base will be educated individuals, health-conscious individuals, and those who are searching for more natural and/or alternative ways to heal and stay healthy. We will prioritize customer satisfaction and strive to create a positive customer experience and overall satisfaction with our services.
Key Customers
At Oriental Medicine Center, our ideal customer archetype is someone who is passionate about alternative medicine and open to trying new holistic treatments. Our main advocate will be people who place a value on the healing benefits that come from alternative remedies and natural products. These customers are looking for health solutions outside of traditional Western medicine, and they place a priority on finding treatments that truly focus on the root causes of their ailments.
Oriental Medicine Center believes in providing our customers with holistic, natural, and alternative remedies that are tailored to their individual needs. We are committed to providing a wide variety of treatments combined with counseling and healing philosophy that is tailored to every individual. Our goal is to help our customers restore and maintain optimum health, vitality, and well-being using our traditional Chinese medicine-based therapies and treatments.
Future Markets
The market for Oriental Medicine Centers is expected to progressively grow as the population becomes more aware of the benefits of the therapies and treatments these centers provide. As such, the potential market to draw on comprises a wide range of individuals, such as those interested in a holistic approach to healthcare – including those aiming to address chronic stress and health issues and those seeking relief from acute illnesses or injuries. A key growth area includes people who enjoy preventative care and wish to reduce their risk of physical and mental health problems. Additionally, recreational visitors, such as those seeking improved physical performance or relaxation, constitute another potential customer base.
The success of the business strategy and expansion plans outlined in this business plan will rely on effectively leveraging this potential customer base by providing the services and products that address their various needs. Furthermore, the implementation of marketing and promotional campaigns within the selected market and strategically leveraging the services of relevant community organizations, e.g. gyms, wellness centers, and retail outlets, will be essential for success.
Competition
The Chicago area boasts a variety of health centers and wellness businesses that specialize in traditional Chinese medicine and other oriental healing practices. Harmonize Health will be entering a competitive market, and we will face stiff competition from existing businesses in the area. Below is a table of potential competitors and the services they offer.
| Competitor Name | Services Offered |
|---|---|
| Heal and Glow | Acupuncture, Herbal Remedies, Massage and Reflexology |
| East West Healing Arts | Acupuncture, Herbal Remedies, Cupping, Moxibustion |
| Zen Wellness | Nutritional Therapy, Acupuncture, Herbology, Advanced Bodywork |
| Zen Spa and Wellness | Acupuncture, Herbal Remedies, Massage, Chinese Medicine |
IV.- Marketing and Sales Plan
Marketing Plan
At Harmonize Health, we recognize the importance of successful marketing and advertising campaigns. We are dedicated to developing an effective strategy that will reach our target audience and spur enthusiasm for our products and services. Our plan includes the following:
- Developing an online presence through social media channels, website development, and paid search engine optimization
- Advertising in local newspapers, magazines, and radio stations
- Developing partnerships with local healthcare providers and educational organizations
- Offering promotional discounts and events at our center
- Attending markets and health fairs in the local area
We are confident that this plan, combined with our excellent customer service and quality products, will provide us with the best chance to succeed in the marketplace.
Sales Plan
Our marketing and sales plan estimates that we will make a certain number of sales depending on various factors, including market conditions, capacity, pricing strategy, and others. Market conditions refer to the size of our target market and the receptiveness of potential customers to the services and products we offer. Our capacity refers to our ability to strategically increase or decrease our production in order to meet constant changes in customer demand. Our pricing strategy refers to the prices we set for our services and products, and how this will affect the competitiveness of our business versus our competitors.
Using a combination of these factors, we will generate an estimate of the number of sales we anticipate in the coming year. This number should reflect an optimization of our market conditions, capacity, and pricing strategy. Our goal is to ensure a successful return on investment that is consistent with our estimated number of sales.
Location and Facilities
Harmonize Health is conveniently located in the heart of Chicago, Illinois. Our facility is easily accessible and we offer competitive prices for our products and services to ensure customers have access to high quality care.
Our facility is equipped with modern amenities to provide our customers with the best experience. We have a comfortable reception area plus dedicated rooms for our treatments, including acupuncture, cupping, massage therapy, and medical Qigong. We also have onsite medical laboratories, which we use for Chinese nutritional therapy and Chinese herbal medicine.
Our well-being center also features educational spaces for workshops and events, and a retail area where customers can choose from a wide range of health products. In addition, we have a team of experienced practitioners who are committed to providing the highest level of care and support.
Technology
At the Oriental Medicine Center, we have the ability to provide advanced treatments in terms of technology and facilities. We understand the importance of utilizing modern resources to maintain the highest quality of service and to keep up with the latest advancements in our field. Our most important asset is the sophisticated equipment used to diagnose, evaluate and administer treatment. We employ the latest technology in our medical and administrative fields, in order to provide a comprehensive and efficient service. We use advanced medical imaging systems and the latest diagnostic equipment, precisely calibrated to ensure accuracy and results. Our facilities are also equipped with highly advanced patient systems, including patient monitoring systems, data analysis capability and enhanced record keeping systems. We also maintain an up-to-date network of software products, in order to facilitate seamless operation and provide a secure environment for data processing.
Equipment and Tools
An essential part of setting up a Oriental Medicine Center is stocking up on specialized equipment and tools. These tools might include medical beds, examination tables and chairs, medical devices, and other associated equipment. We recommend consulting a medical equipment provider to identify all necessary equipment and tools.
The cost associated with the purchase or rental of the equipment will depend on the type of equipment needed and the amount required. To accurately assess associated costs, we have included a table outlining the required equipment, the estimated cost for purchase or rental, and suggested suppliers for each item.
| Equipment | Estimated Cost (Purchase/Rent) | Suggested Supplier |
| Medical Beds | $10,000 / $200/Month | Medical Equipment Solutions |
| Examination Tables and Chairs | $2,500 / $100/Month | Healthcare Furniture Solutions |
| Medical Devices (e.g. Ultrasound) | $5,000 / $300/Month | Medical Device Solutions |
V.- Management and Organization
Organizational Structure
The organizational structure of the Oriental Medicine Center consists of a hierarchical system that outlines the different levels and roles within the business. At the highest level, each department has its own Management Team, responsible for decision-making and overall management of their respective departments. Each department is then further divided into separate units, with each one specializing in a particular area of the business. In addition, each unit has its own Manager, who is accountable to the Management Team and is responsible for the day-to-day operation and supervision of their respective unit.
The organizational structure of the Oriental Medicine Center is presented in the table below. It outlines the different roles and responsibilities of the different employees within the organization, and the flow of information between different levels of the organization.
| Management Team | Unit Manager | Employees |
|---|---|---|
| Decision-making, management of all departments | Day-to-day operation, supervision, problem resolution | Carry out tasks assigned by Unit Manager, customer service |
Management Team
The Oriental Medicine Center business plan envisions a management team composed of experienced healthcare professionals. We anticipate taking on experienced candidates who possess the skills and knowledge to help us successfully establish and scale our business. The following table provides an overview of the potential candidates we are considering for leadership roles in our organization.
| Role | Name | Qualification | Experience |
|---|---|---|---|
| CEO & Founder | John Smith | MD, Oriental medicine | 25 years |
| Chief Operating Officer | Jane Doe | Master's degree in Administration & Management | 15 years |
| Chief Medical Officer | Matthew Jacobs | Doctor of Oriental Medicine | 10 years |
| Clinical Director | Frank Franklin | Certified Oriental Medicine Practitioner | 8 years |
Management Team Gaps
At this time, there are certain positions or areas of expertise for which we do not yet have candidates prepared to fill those roles. Our goal is to identify and recruit individuals with the exact skills necessary for each area of the management team. These extra concentrations of knowledge include, but are not limited to, accounting and finance, marketing, patient relations and IT. We are confident that with a thorough search and dedication to locating the ideal applicant to meet our needs, we will fill all positions in a timely manner.
Personnel Plan
In order to effectively run an Oriental Medicine Center, a set of personnel will be needed to handle day-to-day operations and create processes for continued success. The table below outlines potential positions that will be required for the Oriental Medicine Center.
| Position | Description |
|---|---|
| Office Manager | The Office Manager will be responsible for managing appointments, scheduling, billing and inventory. They will also handle customer service and ensure a smooth functioning of the business. |
| Practitioner | The Practitioner is responsible for providing clinical treatments. This could include acupuncture, herbs, massage, or other traditional Chinese medicine modalities. |
| Marketing Manager | The Marketing Manager will create a marketing strategy and implement it. They will be responsible for promoting the business and creating relationships with local organizations and associations. |
| Administrative Assistant | The Administrative Assistant will provide administrative support for the business. This includes data entry, filing, clerical tasks, and providing assistance to the Office Manager and Practitioner. |
Company History and Ownership
Harmonize Health was founded in 2020 by Rachel Smith, an experienced acupuncturist and herbal medicine practitioner. Rachel had the vision to bring Chinese medicine practices to the city of Chicago, in the form of a holistic healing center. After searching for two years for the ideal location, Rachel stumbled upon the perfect spot in the heart of the city, and immediately began crafting a plan for Harmonize Health.
Harmonize Health draws on a combined experience of nearly 15 years of traditional Chinese medicine practice from Rachel and her team. Drawing from their extensive knowledge and extensive research, the founders designed Harmonize Health to be the premier health and wellness center in the city.
Rachel Smith is Harmonize Health's sole owner. She is currently the company's CEO and actively managed the day-to-day operations of the center. She is supported by a team of experienced acupuncturists, herbal practitioners, and other professionals.
Milestones
A detailed roadmap of specific goals and objectives is necessary to successfully manage and steer our Oriental Medicine Center business forward. We have created a table format of milestones and key performance indicaotrs to ensure that are on track to reach the objectives outlined in our business plan.
We have developed short-term and long-term goals that serve as bench marks on our journey of success. These milestones will help us track and measure our progress, identify our successes and challenges, and continuously evaluate our strategy for future growth.
We believe that having an established roadmap of milestones and associated performance indicators, will help us stay focused on our goals and strive for success.
Key Metrics
When running a successful business, being able to track and gauge performance and health is essential. At our Oriental Medicine Center, we use key performance indicators (KPIs) to provide a snapshot of how our business is performing. The following KPIs help us to objectively measure our performance and set goals for further growth and success:
- Number of Patients: Tracking the number of patients we see helps us to understand the demand for our services. We use this metric to monitor our progress and make sure that we are providing enough services to our community.
- Revenue: Monitoring our total monthly revenue helps us forecast future performance and ensure that we are maintaining a healthy balance sheet. Our expenses are just as important, so we also track expense ratios and compare them to our industry.
- Products Sold: Understanding which products and services our customers are purchasing is important for informing marketing and advertising strategies. Knowing what customers are buying helps us decide which areas we should be focused on and helps us further tailor our offerings to the specific needs of our customers.
These metrics are just the beginning of our business management. We are also constantly reviewing and revising our pricing, budgeting, and inventory needs to make sure that our Oriental Medicine Center continues to thrive.
What you Get With Oriental Medicine Center Business Plan Package
| 6 Chapter Business Plan Template in MS Word | Free Pitch Deck Template in PPT |
| 5 Year Financial Model Template in MS Excel | Free Financial Dashboard Template in MS Excel |
| Immediate Download After Purchase | MAC &PC Compatible, Unlocked, NO VBA Macro |
| Bank/Investor/Grant Ready Package | No Accounting Or Financial Knowledge Needed |
VI.- Financial Plan and Metrics
Sales Forecast
The Oriental Medicine Center business plan has projected sales for the next three years, which are summarized in the following table. The projections are based on anticipated growth in the population of our target market in the area, as well as increasing popularity of traditional medicine and therapies.
| Year | Sales ($) |
|---|---|
| Year 1 | 35,000 |
| Year 2 | 43,000 |
| Year 3 | 54,000 |
Oriental Medicine Center Financial Plan Key Inputs
Expenses
The following tables show the expected and incurred costs necessary to start and operate the Oriental Medicine Center business. The startup costs include the initial costs needed to get the business up and running, while the operational expenses will be incurred during the course of running the business.
Startup Costs
| Item | Description | Cost (USD) |
|---|---|---|
| Lease/Deposit | Lease costs and/or deposits for facility space | $5,000 |
| Licensing & Permits | Appropriate licensing and permits from the applicable government agencies | $750 |
| Equipment | Necessary examination and treatment equipment, office furnishings/supplies | $4,000 |
| Marketing | Advertising, brochures, website setup/upkeep | $2,500 |
| Total | $12,250 |
Operational Expenses
| Item | Description | Cost (USD) |
|---|---|---|
| SALARIES | Employee salaries for doctors and clinic staff | $10,000 |
| Office Supplies | Stationery, office equipment, software | $3,000 |
| Rent/Utilities | Rent, Water and electricity bills, phone | $2,500 |
| Marketing | Advertising, brochures, website upkeep | $4,000 |
| Insurance | Employee health insurance and regular insurance coverage | $2,000 |
| Total | $21,500 |
Financial Plan
This part of the business plan is where you present the three main financial documents of any startup: the income statement, the cash flow statement, and the balance sheet. The income statement illustrates the revenues and expenses for our Oriental Medicine Center. It shows the total operating costs, including salaries, materials, advertising, rent and other expenses. The cash flow statement illustrates the flow of funds from our daily activities, such as customer payments and loan draws. The balance sheet shows our assets, liabilities and equity. It helps to gauge the financial health of the business at a given time.
All of these financial documents help to form a long-term financial plan for our Oriental Medicine Center. We will use these documents to review our financial performance and make any necessary adjustments to our operations. This will enable us to remain financially viable in the long run, while also helping us to achieve our growth objectives.
Oriental Medicine Center Financial Plan Profit & Loss Statement
Oriental Medicine Center Financial Plan Cash Flow Statement
Oriental Medicine Center Financial Plan Balance Sheet Statement
Personnel Plan
To ensure smooth and successful operation of the Oriental Medicine Center, we plan to hire a staff of professionals with the appropriate qualifications and experience. Our personnel will consist of an administrator and qualified primary healthcare providers such as massage therapists, acupuncturists and herbalists. In addition, we will hire a receptionist and qualified administrative staff to manage the day-to-day operations.
The compensation package for our personnel will include competitive salaries and benefits, such as health insurance and vacation time. Our personnel will also be eligible for bonuses based on performance goals.
Our personnel will work as part of a team to ensure that the best quality of care is provided for our clients. Our personnel will be expected to maintain a professional and welcoming atmosphere, and to provide superior customer service to our clients.
Capital Requirements and Use of Funds
The capital requirements for the Oriental Medicine Center must reflect the necessary funding needed to initiate and sustain the business. To successfully launch the Center’s operations, we will require non-dilutive capital from investors or lenders, which will be used for the following purposes:
- Procuring the necessary leases, permits, and licenses for the center.
- Hiring medical and administrative personnel.
- Setting up the physical space, including renovations, furniture, and medical supplies.
- Marketing and advertising the center’s services.
- Obtaining health insurance coverage for patients.
- Developing a website and online services.
We estimate an initial budget of $400,000 to fund these requirements, and anticipate that initial start-up costs could increase up to an additional $200,000 depending on operational needs. We pledge to use this funding efficiently and according to the projected timeline, and will provide periodic updates of our progress to all investors or lenders.
Exit Strategy
Our oriental medicine center business plan contemplates eventually exiting the business. Our desired exit route is to use acquisition as our exit tool. We plan to obtain partners to ensure that service delivery is continuing and the business reaches new heights while securing a safe exit. This will ensure that our vision is achieved and the business continues to thrive. We also plan to prepare our business in anticipation of an acquisition by a larger business, such as a combination of financing and attracting potential buyers.
