Burak Ozay – Comment by Kimmy ter Beek: Insert student ID
Omer Yalcin – Comment by Kimmy ter Beek: Insert student ID
Kimmy ter Beek – 245885
Executive Summary
The purpose of this business plan is to obtain debt-based capital and to secure private equity funding. The total amount of capital needed is $… (tba)
beFIT: Medical Weight loss has selected a general partnership as its formal legal entity. This structure was chosen because of its operational simplicity.
As soon as a building is found that complies with medical laws, the clinic will be up and running and first patients can walk-in. It is to be expected that it will take longer to get approval from the insurance companies.
As an independent, start-up venture beFIT: Medical Weight loss will be managed from a home office. The core business will be structured around providing guidance and treatment for people suffering with obesity. Medical equipment, as well as office equipment and supplies are needed.
Besides the management team and advisors, additional staff will consist of a nurse-practitioner and a M.D.
1. Type of business: Retail/Service
2. Legal Structure of our business: General Partnership
3. Business Name: beFIT: Medical Weight loss
4. Licenses & Permits necessary: Medical clinic license + …………
5. Mission statement: To help overweighed people get their lives back on a healthier track while losing weight by using our programs and products
6. Vision Statement: Our vision is to provide the people of Massachusetts with the tools to life a happy and healthy life by using ultra modern technologies and medicine to accomplish weight loss
7. Differentiator: Our weight loss clinic will be one of the view weight loss clinics in the nation with a medical license. Which entails the use of medicine and medical supervision by an M.D. and nurse practitioners. Which means that the cost of treatment will be covered by most insurance companies.
Business plan beFIT: Medical Weight loss
1 Executive Summary/ business overview
a. The industry
b. Objectives, Goals & Strategies
c. Target Market
d. Competitor Analysis
e. Marketing Strategy
f. Management & Operations
2 Management Team
3 Company Description
4 Market Analysis
5 Service or Product line
6 Organization Structure
7 Marketing & Sales
8 Funding request
9 Financial Projections
a. Financials
b. Startup Costs
c. Sources of Capital
d. Financing Structure– Equity vs. debt financing vs. Angel investment?
e. Monthly Operating Expenses
f. Gross Margin
g. Sales Forecast
h. Income Statement
i. Cash Flow Statement
j. Balance Sheet
k. Contribution Margin
l. Financial Ratios (business evaluation?)
Additional: – logo design
– powerpoint outlook
– excel sheets with calculations
– …………………………………
Omer: red
Burak: blue
Kimmy: yellow
The Industry
In today’s modern world, lots of people struggle with their weight. According to Wikipedia, obesity as a disease is considered one of the most serious public health problems of the 21st Century. In 2015, 600 million adults were classified as obese (New England Journal of Medicine). As a consequence of this, people are looking for help. Sometimes on their own, by starting a diet and exercise regime. Most people that are (morbidly) obese look for help from healthcare professionals. Physicians from all over the country direct their patients to their in-house programs or weight loss clinics like: Weight Watchers, Jenny Craig and New England Fat loss. These clinics all together have … clients. There are 108 million people in the United States currently on a diet or using weight loss products or services. 85% of these people in this category are women. The weight loss industry has a revenue of $20 billion.
Target Market
Of the $20 billion industry mentioned earlier, BeFit: Medical Weight Loss is interested and focused on a smaller target market. While mainly focusing on women between ages 18-65 years old, the target customer are people with an BMI (Body Mass Index) of 25 and higher. BeFit: Medical Weight Loss will be located in Massachusetts, and thus focuses on the population surrounding the physical location of the business.
Objectives, Goals & Strategies
Mission statement: To help overweighed people get their lives back on a healthier track while losing weight by using our programs and products
Vision Statement: Our vision is to provide the people of Massachusetts with the tools to life a happy and healthy life by using ultra modern technologies and medicine to accomplish weight loss
Differentiator: Our weight loss clinic will be one of the view weight loss clinics in the nation with a medical license. Which entails the use of medicine and medical supervision by an M.D. and nurse practitioners. Which means that the costs of treatment will be (partially) covered by most insurance companies.
Competitor analysis
Other weight loss focused businesses do not have an M.D. on call during business hours. BeFit: Medical Weight Loss is a medically supervised weight loss program that includes medicine and medical consults as part of the treatment. As opposed to weight loss clinics like Jenny Craig or New England Fatloss, that put their clients on a generic suits-all program. BeFit: Medical Weight Loss helps people loose weight by putting them on an individualized diet plan and supplement with minerals, vitamins, and appetize suppressing supplements. With 500 locations in Massachusetts, Jenny Craig has a size advantage, but we believe that our believes and our services are superseding the local convenience for clients.
Marketing Strategy
Adjust using Burak’s work
Management & Operations
The daily operations of the business will be run by three managers. Burak, Omer and Kimmy. Burak will focus on the financial aspects of the business, while Omer is in charge of Marketing and Kimmy oversees the daily operations.
Insert diagram
There are two nurse practitioners during operational business hours and an M.D. on call. Managers will be on location when business is open and will serve as receptionists as well as doing (non-medical) consults.
