Regis Medical Development, Inc Business Plan
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REGIS MEDICAL DEVELOPMENT, INC
BUSINESS PLAN
TABLE OF CONTENTS
I. TABLE OF CONTENTS
II. EXECUTIVE SUMMARY
Our Vision
SWOT Analysis
III. MARKET PROFILE
IV. STRATEGY AND IMPLEMENTATION SUMMARY
Product/Service Consideration
Pricing Consideration
Promotional Considerations
Distribution Considerations
V. SALES FORCAST
Budgeted Operating Expenses for the first year
VI. OPERATIONAL PLAN
Legal Environment
Inventory
Credit Policies
Receivables
Payables
VII. FINANCIAL PLAN
12-Months Sales Projections
5-year Sales Projections
Projected Profit and Loss Statement
Break-even Analysis
Projected Cash Flow
Projected Balance Sheet
II. EXECUTIVE SUMMARY
Regis Medical Development Inc., known as Regis Inc. is a medical manufacturer and supplies company owned by Regis University. Regis Inc. has positioned itself on the market as a fast-grown company with an introduction of a smaller and more durable pacemaker. Due to a high demand for an advanced pacemaker introduced by Regis, Inc., the company will increase production by expanding manufacturing capacity. Since the product has already entered the market, Regis Inc., has existing patents in place and there are no outstanding legal compliance requirements.
Market segment for pacemaker is clearly identified and it consists of Managed Care Groups, Hospitals, physicians, medical supply distributors and the end-users (patients). Life span increases and birth rate is low, therefore, population is aging. Based on recent Census age rank projections reports, segment population will continue to increase, suggesting future opportunities for growth for our product. The number of people aged 60 or older is forecast to grow from 688 million in 2006 to close to two billion by 2050. (NetAdvantage, Industry Surveys)
Our Vision
Our vision at Regis Medical Development Inc. is to lead the industry as the manufacturer of quality medical equipment and supplies. We are committed to delivering exceptional product and service to our customers.
SWOT Analysis
Strengths:
Regis Inc. has outstanding reputation in the present market
Strong leadership team
Qualified, experienced and highly motivated personnel.
Our product is innovative and there is existing demand for our product
We have necessary equipment in place to manufacture the product with enough capacity for additional production
We have reliable suppliers
Weaknesses:
Lack of capital to expand production
Lack of sufficient information about market
No marketing strategy
Opportunities:
Increasing market
Entry into international market
Demand for more advanced pacemaker
Good reputation and growing size will attract new product developers
Can outsource manufacturing of parts to save overhead costs
Technological advances promote development of new high-tech devices
Expansion of e-commerce will open additional channels to feature product online, as well as allow potential patients to learn about the new product
Threats:
Competition from Medtronic, Inc., St. Jude Medical and Baxter International
Legal issues related to patents
Legal issues related to defective products
Regulatory issues by FDA
Changes in Medicaid reimbursement rates and reduction in federal Medicaid program
Patents are not strong enough to project inventions, competition will pick up within a year or two
Regis, Inc is in the process of hiring marketing research company to get a better understanding of current market needs and necessary marketing strategy. Regis, Inc is working in obtaining statistical data to determine market trend and implement strong marketing techniques to increase product awareness and customer acceptance. We are using services of Frost & Sullivan (Frost & Sullivan Sales Department, 7550 West Interstate 10, Suite 400 San Antonio, TX 78229-5616) to perform research in the following areas: