sample entrepreneurship business plan for students

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xxxx BUSINESS PROFILE Mission Statement: Vision Statement: Ownership: We are a group of five people and initially we will start our business in partnership and gradually as our business grows we will make it a corporate. Partnerships have unlimited liabilities and less tax benefits but for a startup like ours, partnership model is easy for getting things started We will register our business in xxx under partnership model. Fortunately, we get a lot of help from Centre of entrepreneurship and Communitech and can get legal assistance from there. Hopefully, we will make it a corporate in xxx Date of Registration/Incorporation: xxx Business registration or incorporation number: NA Description of Location and the Facilities: Office location Initially, we are planning to have a small office in Canada near Waterloo region, here our marketing, product design and development team will work. Waterloo region has a lot of technical companies and hopefully in future this region will be the next Silicon Valley and therefore it is advantageous for us to set up our office in such area. Facilities and advantage of being in waterloo region (Below information are gathered from http://www.regionofwaterloo.ca/en/doingbusiness/doingbusiness.asp) 1. In touch with many of the largest North Americans markets with 158 million people within a 1,200-kilometres radius. 2. Within a three-hour drive we have access to six US border crossings, two major shipping ports and six international airports including the Region of Waterloo International Airport and Canada's largest airport, Pearson international. 3. Easy access to Highway 401, two main freight rail lines and daily GO and VIA passenger train service makes travelling and transporting goods in and out of town easy and convenient. 4. The accelerator center and Communitech hub also two world-leading commercialization hubs that make Waterloo Region a magnet for companies seeking talent and acquisitions. Office facility In initial stage, our office will have few computers, Internet connection, Printer, Office phone, few furniture, small cafeteria, basic electronic equipment, small inventory of components, ESD (Electrostatic discharge) protected workstation, and EDA (Electronic Design Automation) tools for design and development of product. Initially we will manufacture our product by local manufacturing vendors of waterloo region, later for bulk quantity we will partner with any EMS (Electronics Manufacturing Suppliers) company, they will be our manufacturing partner. We can partner with any EMS company in Shenzhen (China), Shenzhen possibly the world’s most prominent manufacturing city.

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Page 1: Sample Entrepreneurship Business plan for students

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BUSINESS PROFILE

Mission Statement:

Vision Statement:

Ownership:

We are a group of five people and initially we will start our business in partnership and gradually as our business grows we will make it a corporate. Partnerships have unlimited liabilities and less tax benefits but for a startup like ours, partnership model is easy for getting things started

We will register our business in xxx under partnership model. Fortunately, we get a lot of help from Centre of entrepreneurship and Communitech and can get legal assistance from there. Hopefully, we will make it a corporate in xxx

Date of Registration/Incorporation: xxx

Business registration or incorporation number: NA

Description of Location and the Facilities: Office location

Initially, we are planning to have a small office in Canada near Waterloo region, here our marketing, product design and development team will work. Waterloo region has a lot of technical companies and hopefully in future this region will be the next Silicon Valley and therefore it is advantageous for us to set up our office in such area.

Facilities and advantage of being in waterloo region (Below information are gathered from http://www.regionofwaterloo.ca/en/doingbusiness/doingbusiness.asp) 1. In touch with many of the largest North Americans markets with 158 million people within a

1,200-kilometres radius. 2. Within a three-hour drive we have access to six US border crossings, two major shipping ports

and six international airports including the Region of Waterloo International Airport and Canada's largest airport, Pearson international.

3. Easy access to Highway 401, two main freight rail lines and daily GO and VIA passenger train service makes travelling and transporting goods in and out of town easy and convenient.

4. The accelerator center and Communitech hub also two world-leading commercialization hubs that make Waterloo Region a magnet for companies seeking talent and acquisitions.

Office facility In initial stage, our office will have few computers, Internet connection, Printer, Office phone, few furniture, small cafeteria, basic electronic equipment, small inventory of components, ESD (Electrostatic discharge) protected workstation, and EDA (Electronic Design Automation) tools for design and development of product. Initially we will manufacture our product by local manufacturing vendors of waterloo region, later for bulk quantity we will partner with any EMS (Electronics Manufacturing Suppliers) company, they will be our manufacturing partner. We can partner with any EMS company in Shenzhen (China), Shenzhen possibly the world’s most prominent manufacturing city.

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Hours of Operation: Until we have fully developed, a product ready for market we will work 20 hours mostly on

weekend a week. We need to manage college studies and after that job too, once we will start

getting enough revenue, after that we will start working full time 40 hours a week for the

company. We have two teams; one is technical and the other one handles the business

development and marketing. We schedule 3 to 4 meetings weekly and in the first meeting of the

week we set our weekly targets and then in the last meeting of the week we discuss our progress.

Our technical team is working on the product for 20 hours per week. They have set weekly and

monthly targets. We have a deadline of developing our product till August 2016. Our business

team is working on how to set up the business legally. Our business team goes weekly to

Communitech for 2 hours for attending Business fundamentals seminars from experts.

Financial Year End for the Company: Our financial year end will be 31 December.

Strategic Alliances: In future we will have following strategic alliances

1. Manufacturing partner

We will need a manufacturing partner who will be responsible for product manufacturing,

testing and quality of product. This is what all startup tech companies do, we cannot afford

manufacturing infrastructures. We can partner with companies in Shenzhen (China) or

Bangalore (India) anywhere in the world that can fulfill our expectations and good for

business.

2. Inventory procurement partner

We will need reliable inventory procurement partner, who will procure all the electronics

components required at production site and to design and development team.

3. Technology partner

We can partner with NXP for microprocessors solutions, Telit for wireless solutions etc. We

will have to agree that we will use their microprocessors or wireless devices exclusively for

lifetime in our product; in return we will get those components at lesser price than from any

distributers and other benefits too.

As per business requirement we will go with others such strategic alliances in future.

Short-term objectives and strategies: Objectives for May 2016 to May 2017

1. Survey regarding product market validation, we will do online as well as face to face direct

survey. 2. Preparing required documents for effective representation of product idea, so that we can

clearly explain what we are working on, what is our product is all about, those documents are I. Posters representing our device and its features

II. PPT presentation

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III. MVP (minimum viable product) Video 3. We will make elevator pitch and learn effective way to represent it

We will attend 12 pitches, on an average one pitch a month. After every pitch we will learn and improve our pitch.

4. We will attend 36 networking events, on an average 3 events every month. Where we would mix with like-minded people, those networking events will help us in following way

I. We will be aware of what is going on in our community II. We can find people for our advisory board

III. Student for volunteer or coop IV. People who can be a part of our test group for alpha and beta test V. Investors or to the people who can link us to potential investors

5. We will register our company Around Oct, 2016 we will register our company, logo trademarks and product name trademarks.

6. Creating website, website will help us to reach to our customer and customers to us. 7. To reach medical ecosystem and customer, we will make our presence on social sites also. 8. We will develop our first prototype product

I. Schematic design II. PCB layout design

III. Manufacturing of PCB IV. Mounting of component on PCB board V. Testing of prototype device

9. We will create all the legal documentations like I. Team agreements

II. Trading documents III. Product certification and compliances IV. Agreement paper between customer and company

10. After we will have product and all initial basic things for representing our company ready, we will start meeting investors, we will try to meet at least 2 investors.

Long-term goals: These are the goal that we want to be achieved after the end of 5 year i.e. May 2021. We are

trying to be realistic and not over ambitious. Here is our long term goal;

1. Revenue/sales and investment goal I. Investments

We will have to arrange at least $50K investments. We surely need much more money but this is a minimum amount for the survival of our business.

II. Sales of product We will have to sale at least 200 devices to reach break-even point.

III. Revenue

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We expect our revenue to be $120K by the end of year 2021.

2. Company Infrastructure/Assets goal I. Office space

We would have a decent office space with small R & D lab, Test lab, Quality control lab, Cabins for marketing and business development people.

II. Warehouse We will need warehouse to keep products temporarily.

III. Inventory Our main inventory will be at manufacturing partner, but still we will keep small inventory for R & D and test purposes.

IV. Employee We will have total 15-20 employee including marketing people and engineers.

V. Office vehicles VI. Liability insurance and all other required insurance

3. Customer service goal

I. 24 Hour customers support through phone, online chat, mail etc. II. A very small automatic booth in retail stores like BestBuy, Walmart where people can

buy our product and if they encountered any technical issue with our product they can return that within 3 months from the day device is purchased at this booth.

III. They can also get demo of the product at these booths.

4. Product development Product development is a continuous process, it’s not like once we will have our product ready we will stop working on product development, we will be working on next version of product. Our goal is to work on 2nd version of product by the end of 2021.

5. Community outreach and advertisement goal I. We will try to attend as much as events possible to reach our customers, initially this

number of events will be less but once we will crack break-even, we will increase this number.

II. We will advertise through YouTube, we will create a professional video illustrating how our product changing life of our customers. Our goal will be to get 1 million views.

III. Through social sites like Facebook we will try to aware people about our product and how this product can help them and their loved one’s life.

IV. Through web media like Tech Crunch

6. Manufacturing partner

By Jan, 2019 we will be in need of a manufacturing partner, manufacturing companies from China or India will be our partner.

7. Technology partner We will partner with companies like NXP, TI, and Telit to get components at fewer prices.

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PRODUCTS AND/OR SERVICES

Description of Products/Services:

Our bodies have always had something to say but now, with advanced sensors, algorithms and software, we will finally be able to tune into what the body is telling us. Some of medical devices that are being used for personal healthcare are Glucose meter, oximeter, Blood pressure measuring device, ECG, each of them serve a specific purpose, purpose for which they are created like glucose meter measures sugar level in body, oximeter or SPO2 measures oxygen concentration in body, blood pressure measuring device measures blood pressure.

It is now a time to go beyond this, it is because a disease never affect our body all alone, suppose diabetes its co-morbid (simultaneous) diseases are Hypoglycemia, Hypertension, Heart Attack, Stroke, Kidney Disease etc. to keep eye on all these diseases it is important to measure other body parameters too like blood pressure, oxygen concentration in blood etc.

There is no such device in market that come with all together, glucose meter, oximeter, blood pressure measuring device, ECG all in one. We are bringing these all medical devices together as one product.

The data collected from the device will help users to detect, prevent and manage diseases in early stage, with seamless connectivity we will store all data over the cloud, which could be accessed by family members and doctor of patients, so no need to spend much time in hospitals. We are trying to put individuals in the driver's seat in understanding their own health and wellness.

Key Features and Benefits of Products/Services: Some features of our device is mentioned below, I mentioned how that feature will benefit our

customer too.

1. Glucose meter

According to Public Health Agency of Canada 3.4 million people were having diabetes in 2015

and it will reach 5 million by 2025. We added this feature it’s because numbers of diabetes

patients are increasing and not only who is suffering from diabetes but also normal people

should keep eye on his sugar level and control it.

2. Oximeter/SPO2

Oximeter/SPO2 measures oxygen saturation in blood. Nowadays people are living inside

buildings for long time and do not get enough oxygen, because of inefficient oxygen people

get headache, dizziness etc. People should keep eye on everyday oxygen saturation in blood.

Oximeter also helps us to measure heartbeat, not proper heartbeat can result into asthma.

Keeping this requirement we added these feature in our device.

3. Blood pressure measuring device

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Blood pressure measurement helps to control hypertension and strokes.

4. ECG

ECG helps in detecting heart problems, by data acquired through ECG will help patients in

predicting heart strokes. ECG results can be shared with the doctor easily without visiting

hospital or clinic.

5. UV detection

Ultraviolet radiation from sun can cause skin cancer and other skin problems. Before going

outside user can get reading of ultraviolet concentration in sunlight and can take effective

measures like using sun’s cream, proper clothing etc.

6. Thermometer

Change in body temperature is symptoms of many diseases; user can take body temperature

and send to his doctor

7. Digital stethoscope

Digital stethoscope helps in listening internal sound of body. With our device now no need to

go to doctor you can record the sound received by stethoscope and share with doctor.

8. Touch screen

Our device health pad will look like Ipad, touchscreen interface will ease user in using app and

web surfing.

9. Video conferencing

With Camera on health pad user can interact with their doctor through video call.

10. WiFi connectivity

Wifi connectivity will give user freedom of internet and seamless connectivity to cloud for

sensors results storage.

11. 4G LTE connectivity

4G LTE connectivity will give user freedom of internet on the way, whether you are going for

mountain trekking or anywhere until you have mobile network you will be connected to your

doctor.

12. Bluetooth

Bluetooth feature will enable our device to connect with other Bluetooth enabled devices.

13. ANT +

ANT + is very popular medical device connectivity protocol, many medical devices come with

ANT+ enabled.

14. Data storage on device

Results/Tests acquired by sensors can be stored in on device memory storage.

15. Data storage over cloud

Data will also be stored over the cloud so that those data can access from anywhere through

internet.

16. Mobile APP

We will provide an app where user can see all his health related data.

17. Web portal

We will also provide web portal or dash board where user can see his health progress and he

can involve his doctor also.

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Pricing: For showing calculation of pricing I am only considering integrated circuits (ICs) cost, since in any

electronics device ICs cost 90%, rest discrete components like capacitors, resistors, diodes etc. I am not

considering.

Component Part Number Manufacturer Price

Processor MCIMX6Q7CVT08AC Freescale/NXP $ 73.18870

DDR3 RAM MT41J128M16JT-125:K TR

Micron Technology $ 4.5

HDMI protection

CM2020-01TR ON semiconductor $ 0.8

Wi-Fi + Bluetooth

450-0064 LSR $ 41.51

4G + GPS + QUAD

HE910 Telit $ 78

LCD touch screen

NC01111-T081 Fujitsu $ 58

Total ICs price: $ 255

Other discrete component and will cost approx. $150

Total product BoM cost: $405

Selling Price: $550

Here below I am comparing our product with other existing products pricing:

Product Pricing

2 net hub $293.95

Blood pressure monitor $166

Glucometer $229

Pulse oximeter $359

Weight scale $200

Total $1,247.95

Shipping $100

Conn-care $505

Shipping $20

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Packaging: Packaging is very important for image of company. Our product box will include five sensors, mother

board that will connect all sensors, information booklet and power cord. We will use environment friendly boxes that can be recycled. Packet will have our logo, company name and it will be in very attractive color.

Information booklet will include how to assemble sensors and how to calibrate and use the device. It will include all the guidelines about product and will be in two languages English and French. We will keep design and color of box simple and attractive. We will package our device in such a way that its unboxing will be user friendly

Production and Development of Products/Services: Steps involving in production of product

Pre-market activities

1. Planning for product

Identify customer needs and understand the competitor’s product, with the help of that we can

have surety that the end product will meet customer’s needs.

Design and development planning, designing high level diagram, it includes block diagram of all

features which are considered for the product.

2. Design Input

By surveying customers about our idea we add design modifications according to their feedback.

Add more design parameters according to FCC, FDA compliance documents

3. Design Output

According to design input we will initiate following design processes as design output

Design circuit schematic, for that we will use ALTIUM eda software.

PCB(Printed Circuit Board) layout design

Generating all manufacturing file like Gerber file, BoM (Bill Of Material)

4. Design Review

If we will identified any deficiencies during design in design and development phases by reviewing

our design we will detect and correct it.

Design will review by personal who involve in related design stage as well as a person who don’t

have direct responsibilities of design stage.

5. Prototype manufacturing

We will send our design output documents to EMS (electronics manufacturing supply) vendors

for manufacturing of 5 prototype boards.

6. Test Protocol and changes

Design Verification We will perform various tests on our prototype board like sanity, electrical, functional etc. to verify correctness of the design.

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Design Validation Design validation team will validate the test outputs and recommend changes to design team.

Design Changes Schematic will be redesign according to recommendations provided by validation team. After redesign we will send design for production again.

Post-market activities

1. Devices will be distributed to a test groups, they will use our product and give us feedback regarding device performance.

2. Getting feedback from customers, analyzing those feedback and if needed bring changes according to those feedback in next version.

Distribution of Products/Services: After development of the product the first step towards market is distribution of product

1. Through E-commerce site (Online Ordering) like I. Amazon.com

II. Ebay.com III. Bestbuy.com

2. Ordering through our website 3. Through agent and Distributor like

I. Ihealth II. Ecentra

4. We will advertise and promote our product through participating in various medical expo and events.

5. We will be on social media, by advertisement through different media customers can easily find product and can order it through our website online.

6. Our customer can buy our product through our website or any other sales and product distribution partner. After getting order we will dispatch the product through our courier partner with mail confirmation of product delivery and tracking information.

Purchase Process and Buying Criteria: 1. Awareness and interest of customers

Customers are also just becoming fully aware of the problem they have that needs addressing and finding their interest in our product by taking feedback from customers.

We will grab a potential Prospect's attention by addressing the problem of our customers and bring them into a state where they can move forward and build their interest in our product.

2. Legal purchased order form

It is a contract between the buyer and seller to control purchasing of product and services provide by our company and external suppliers.

3. Authorization to make medical product purchase

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Authorization is required before purchasing product to give assurance of reliability of supply, service and warranty of product.

When customers buy from an authorized dealer they have surety of getting the real deal and definitive Technology product.

4. List of customers and list of approved suppliers

We will create a list of customers who required our product and as per their location detail and requirements we will select suppliers to reach our customers.

5. Procedure for obtaining competitive bids from suppliers

A competitive bid process is mostly used in the procurement of product and services. In this process we submit a sealed envelope detailing the price and an offer.

The recipient of the offer then selects the competitive bidder that has delivered the lowest price or best terms.

6. Tracking of purchased order

Once purchased done by the customer we will provide tracking information using that customer can track product continuously. It will help us to prove that we are providing reliable supply and services.

7. Confirmation and feedback process of order and product

We will make sure that order is delivered or not by confirmation and find feedback of our product and services to ensure if we need to make changes or not to make it more reliable.

Criteria used by the customer/client to justify the purchase Our product will be buying by organization and individual.

For organization:

Organization will get request from their respective department who need our product. Organization will ask for tenders to the company who sell such products. Now, companies having an interest of selling product to respective organization will prepare tenders for them. Then organization will have look at the tenders and they will decide the most appropriate tender for them. After that they will place the order to respective company and decide terms and condition. Then product will be shipped to respective organization.

For individual:

There are various ways in which individuals can buy product from us, we will have small office in waterloo where customers can see demo of our product and we will take order face to face from there.

We will have our stalls in various technical events. So, we can take order from there. We will also sell our product online by advertising it through various ecommerce website as well as we will have our product website where customer can place order. Once customer placed the order they will get product within mention days.

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Customers look at different criteria and facility for buying products like

Cost and time:

Normally a customer has to go through various individual tests while visiting hospitals and clinics, which increases cost and time. Our Product addresses this issue and provides integrated solution to this by providing a device which integrates the entire test into one device.

Service at door:

This product can be bought by individuals and can be used at home. Customers can avoid taking appointments of doctors and can test all the parameters easily at their home.

Reliability:

Our product will be reliable as it has various certifications and it has gone through various tests.

Customer reports:

As our product will be use by individual, hospital and clinics. Feedback from individual as well as hospitals will encourage more people to buy product.

Inventory Control: Initially we will manufacture products locally from waterloo region, once we will start getting big

order then we will look for manufacturing partner in India or China.

We are manufacturing our product in India or china, as per the expected sale we will get product

manufactured from our manufacturing partner and shipped to us in Canada.

We don’t need to worry more about warehouse since our product size is very small so we can

keep them in any small storage room in office with proper care and insurance.

Competitive Edge: If you are different from existing trying to bring something unique then customer will choose

you. So, we are working on how to make our “WHY” strong.

Body Temperature, NIBP, Blood Sugar Level, SPO2, ECG are five basic parameters which are mainly considered to decide the wellness of a human being. In the present medical system to monitor all these parameters there are separate devices available in market but not a single device, thus patients have to dependent on hospitals for getting these test done or they need to buy all separately.

Separate devices for different parameters making cost of product high. Along with this there is no continuous monitoring of these parameters on a daily basis to diagnose the patient for rapid recovery. So, commuting to hospitals on a daily basis for the same is again a pain.

Our aim is to reduce the consequences of above mentioned problems and provide best medical product. We will design and develop a system to bring all the parameters together in a single device ConnCare. This solves our first problem of patients going to different counters for different

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tests which means use of time in effective manner. Secondly as all parameters are in a single device cost will reduce.

IOT (Internet of Things) in our system will enable the Doctor, Patient to stay connected. To make product for an individual user we will design it in an efficient way which will make it easy to use without any involvement of expertise.

Suppliers: List of suppliers are

1. Digi key

Buying Materials: Electronics component

Name of company: Digi-Key

Address: 701 Brooks Avenue South

Thief River Falls, MN 56701 USA

Phone: 1-800-344-4539 or 218-681-6674

Fax: 218-681-3380

Website: http://www.digikey.ca/

Email: [email protected]

Payment/Credit terms: online payment through Digi Key website

Delivery time: 15 days maximum

Delivery charges: $20

Warranty policy: Warranty depends on product and implemented by

manufacturer, Digi Key is a distributor only.

2. Mouser Electronics

Buying Materials: Electronics component

Name of company: Mouser Electronics

Address: Mouser Electronics

1000 North Main Street

Mansfield, TX 76063, USA

Phone: (800) 346-6873

Fax: +1(817) 804-3898

Website: ca.mouser.com

Payment/Credit terms: online payment through mouser website

Delivery time: 15 days maximum

Delivery charges: $20

Warranty policy: Warranty depends on product and implemented by

manufacturer, mouser is a distributor only.

3. Arrow Electronics

Buying Materials: Electronics component

Name of company: Arrow Electronics, Inc.

Address: Arrow Electronics, Inc.

171 Superior Blvd

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Mississauga, ON L5T 2L1

Canada

Email: [email protected]

Website: https://www.arrow.com/en

Payment/Credit terms: online payment through arrow website

Delivery time: 15 days maximum

Delivery charges: $20

Warranty policy: Warranty depends on product and implemented by

manufacturer, arrow is a distributor only.

4. Avnetexpress

Buying Materials: Electronics component

Name of company: Avnet Express

Address: Avnet Express

Toronto, Ontario

6950 Creditview Rd. Unit 2

Mississauga, Ontario, L5N 0A6

905-812-4400

Website: http://avnetexpress.avnet.com/

Payment/Credit terms: online payment through Avnetexpress website

Delivery time: 15 days maximum

Delivery charges: $20 Warranty policy: Warranty depends on product and implemented by

manufacturer, Avnetexpress is a distributor only.

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MARKET ASSESSMENT

Industry Overview: Canada's medical device sector is a highly diversified and export-oriented industry that manufactures

equipment and supplies. Purchasers include Canadian and international hospitals, physician's offices,

laboratories, clinics as well as patients (through direct purchases).

We are working under medical device industry of Canada. Our industry is healthy, growing and stable.

Canada had an estimated $6.4 billion (2012) medical device market accounting for about 2 percent of the

global market.

The following were key expenditure areas, as a percentage of total 2012 medical device sales in Canada:

Diagnostic apparatus (25.8%)

Consumables (15.3%)

Patient aids (12.3%)

Orthopedic and prosthetic (11.9%)

Dental products (6.9%)

And, Other (27.8%) (including wheelchairs, ophthalmic instruments, anesthesia apparatus,

dialysis apparatus, blood pressure monitors, endoscopy apparatus, hospital furniture, other)

Approximately 80 percent of the market is supplied by imported medical devices

Note: Above data is collected from https://www.ic.gc.ca/eic/site/lsg-pdsv.nsf/eng/h_hn01736.html,

this is the most recent reliable data I have found. Our product is in others category. I am not able to find

expenditure of individual device like glucose meter, blood pressure etc.

Description of Key Competitors:

Our key competitors are;

1. Creative Medical International (CMI)

Company: Creative Medical International (CMI)

Company Profile: CMI Health is dedicated to providing innovation in patient

monitoring and have developed, manufactured and marketed

Oximeters, Vital Sign Monitors and Patient Monitors.

Product: PC-203 all in – one Health monitor International (CMI)

Picture of product:

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Website: http://www.cmihealth.com/

2. AZOI

Company name: AZOI

Company Profile: Azoi is a startup company, developed personal health tracker

in the form of mobile case cover that can be used with

IPhone.

Product: Kito+

Product Picture:

Website: https://azoi.com/

3. VOYAD

Company Name: VOYAD TECHNOLOGY Co.

Company Profile: A high-tech enterprise which integrated wearable products

R&D, manufacturing and marketing, wearable products

includes smart watch, 3d product etc.

Product Name: VY-HM-6 Health Detector

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Product picture:

Website: http://voyad.com/

4. Connect Health Solution

Company Name: Connect Health Solution

Company Profile: Connect Health Solution is a china based company

involved in connected medical product development.

Product Name:

Product Picture:

Website:

5. MODZ

Company Name: MODZ

Company Profile: MODZ is a motivational diabetes management system

that consists of MODZ blood glucose meter, MODZ

measuring sticks and information management.

Product Name: MODZ

Product Picture:

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Website: http://www.gomodz.com/?lang=en

6. Withings

Company Name: Withings

Company Profile: Withings is a USA based company deals in smart medical

devices.

Product Name: Wireless Blood Pressure Monitor

Product Picture:

Website: http://www.withings.com/us/en/

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Competitive Analysis:

1 Creative Medical International (CMI) SWOT anlysis

Strength

The company was founded in January 2000.

Quality management system according to ISO 9001 & ISO 13485 standards.

Most of its products have been CE marked and some products have been approved by FDA 510(K) Premarket Notification.

Weakness

Their product is not of medical accuracy.

They are not connecting patients with doctors.

They are selling their product only through their website, they are not selling in retail stores. We will sell our product at retail shops too.

Opportunity

Since they are part of our medical electronics partnership, we can partnership with them to organize events and other marketing activities together.

People are busy in their daily life, they least care about their health until they fall sick. We together can aware and make people health conscious through our digital health awareness campaigns.

Threat

Their product is 70% similar to ours so they are our direct competitor.

They have in market from long time and have loyal customers as well as relationship with businesses that regularly buy from them.

2 VOYAD SWOT analysis

Strength

Voyad Technology Co. Ltd, founded in 2007.

VOYAD keeps taking 15% of profit on new products developing annually.

VOYAD is built with over 1000 well-trained staff and more than 60 engineers.

Weakness

VOYAD device work on impedance measuring principle by sending electrical circuit through body and creating close loop.

Above principle is not medically accepted

This device can be used for only personal health monitoring, data can’t be shared with doctor.

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Opportunities Since they are part of our

medical electronics partnership, we can partnership with them to organize events and other marketing activities together.

People are busy in their daily life, they least care about their health until they fall sick. We together can aware and make people health conscious through our digital health awareness campaigns.

Threat

VOYAD is a well-established company in medical company and they could knock us off the market.

Price erosion, we will have to compete them in pricing and always keeping our product less than them.

3 MODZ SWOT analysis

Strength

The company was established in 2009.

Produces CE-marked products and ISO 13485 and 14791 quality system-compliant operating methods.

Weakness

This device can measure only blood sugar, not like our device that can measure multiple parameters.

Data cannot be shared with the doctors.

Opportunities Since they are part of our

medical electronics partnership, we can partnership with them to organize events and other marketing activities together.

People are busy in their daily life, they least care about their health until they fall sick. We together can aware and make people health conscious through our digital health awareness campaigns.

Threat

Modz’s product is not similar to us but still we are in indirect competition with them.

They could run rival campaign against us emphasizing to use their product only.

They could launch product similar to ours.

4 Our company SWOT analysis

Strength

Product Uniqueness: Some features like connecting

Weakness

Lack of funding: R&D of medical products cost a lot,

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patients to doctors makes our product unique from competitor.

Strong technical team: Company co-owners are from technical background, this will save product development cost.

Location: Local resources like university, college, many startups and big companies could support us in many way

certification like CE, FDA increases the cost, we don’t have sufficient fund for that.

Lack of strategic alliances: We are new in this business, we don’t have any strategic alliances.

Lack of team with diverse skills: We all are from technical background, we lack marketing and sales skills.

Opportunities

Growing market: Due to latest advancement in IOT and bio sensors, medical electronic industry is revolutionizing and growing faster.

Untapped market: Due to uniqueness of our product

Government supports: Government is fighting for chronical diseases and supporting and promoting private companies and organizations to join the fight.

Threat

Competition We are competing with many big and small companies directly or indirectly.

Certification requirements: Medical devices required lots of certification, without those certification we cannot sell our product in Canada. Device certification adds huge cost on device development.

Price Erosion We always have to compete with our competitors in pricing.

Target Market: Our target markets are

1. Direct customer having diabetes, hypertension, strokes problem

One device can be used by whole family, if any member of family is feeling sick at in time,

you don’t need to rush hospital immediately unless it’s emergency situation. You can

contact your doctor and send real time health data like temperature, blood pressure,

heart signal through ECG and take advice from doctor.

2. Old Age Homes

The 2011 Census of Population counted nearly 5 million (4,945,000) seniors aged 65 and

over in Canada. Of these individuals, 7.9% lived in collective dwellings, such as residences

for senior citizens or health care and related facilities NGOs

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(https://www12.statcan.gc.ca). If we focus these old age homes, we can reach a big

portion of potential customer.

3. Health Recreations club

People going fitness club, health recreation clubs are health conscious people, if we will

be able to sell our product to these clubs, we will be able to attract their customers too.

Health Club Number of location

Equinox 73

Life Time Fitness 113

Cambridge Group of Clubs 3

GoodLife Fitness 234

Steve Nash Fitness World and Sports Club 19

Curves International 2,500

Anytime Fitness 2,098

LA Fitness 600

Fit4Less by GoodLife 57

Planet Fitness 850

Total number of club 6547

Total number of fitness club in only Canada is 6547.

4. NGOs who work during natural disaster

There are at least 55,000 registered organizations in Canada (72,000 if all registered charities

including individual churches and the fundraising arms of hospitals and universities are added),

and well over 5 million Canadians participate in these organizations in some way. NGOs who

involved in healthcare, natural disaster management will buy our device.

5. People who like adventure sports like trekking, mountain climbing

When you go on adventure trip if you have our device you will be connected to your doctor. If

anything happens during that trip you can take immediate accurate advice and tips based on real

time health data from doctor.

Size of Market: We are working in health care industry of Canada. As per the annual report total health

expenditure in Canada is projected to be $219.1 billion in 2015, a 1.6% increase from 2014.Total health care spending per Canadian is expected to be $6,105 in 2015.

1.6 million Canadians have heart disease or are living with the effects of a stroke.

1.3 million Canadians reported having heart disease diagnosed by a health professional - 5% ages 12+ years and 23% of Canadians age 75 years and older.

About 300,000 Canadians reported living with the effects of a stroke - 1% of Canadians ages 12+ years and 7% of Canadians age 75 and older.

In 2009-10, more than 1.8 million Canadians were living with active asthma in 2014 about 1,041,211 male and 1,407,606 female having asthma. So regular test of body is necessary our product will help them in their regular body test like pressure, ECG.

Now, talking about diabetes in Canada Estimated diabetes prevalence 5 million

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Estimated pre-diabetes prevalence in Canada (n/%) (age20+) 5.7 million/22.1% 6.4 million/23.2%

Market Share: Medical electronics industry is growing rapidly and replacing conventional way of curing patients.

Innovations in IoT and bio sensors helping patients in getting connected with healthcare provider from

their home and managing their health themselves. Medical electronics industry is sharing a vast portion

of global and Canadian market.

Global medical device sector

In 2011, the key business segments of the global medical device market were consumables (15%),

diagnostic apparatus (e.g., MRI and CT-scan) (27%), patient aids such as hearing aids and pacemakers

(12%), orthopedic products (11%), dental products (7%), and other medical equipment (28%). We

share 28% of medical industry market with our direct competitors like Creative Medical International

(CMI), AZOI, VOYAD etc. and indirect competitors like Connect Health Solution, Modz, Withings etc.

Canadian medical device sector

Canada has an estimated $6.4 billion (2012) medical device market accounting for about 2 percent of

the global market. In Canada there is no company in direct competition with us.

Key Trends in the Industry: Quality healthcare allows individuals to enjoy their quality of life and medical devices innovations

helping Canadian to have quality life. Government, enterprise, individual all together are working to

bring new innovations in medical device industry, the positive efforts from government impacting

exponential growth in medical industry.

Providing better healthcare is nowadays political agenda for the governments, this political attitude

increasing medical device industry.

Medical device industry growth changes demographically and geographically, in developed G8

countries medical device industry is increasing because of large senior population. Canada is one of

them, whose government is committed to fulfill need of better healthcare, this commitment is a

strong reason of medical device industry growth.

In 2015, total health expenditure in Canada reached $219.1 billion, or $6,105 per person. Overall

health spending represented 10.9% of Canada’s gross domestic product (GDP).

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MARKETING STRATEGY

Opening in sales situation

One year opening sales 2017-2018, by the end of 2018 we will sell 200 devices generating $110,000

revenue.

We against our competitor

Our product uniqueness makes us different from others, we are not in direct competition with one

company (so far our research shows one company making 70% similar kind of product), but we are in

indirect competition with many companies. Our product and services have capability to stands in

competition with any company’s product, in some features and service wise it is better than other

company’s product.

Strategies to draw attention of customers to our business: To draw attention of consumer to our business, we will use all possible means whether its e-commerce

site, social site, events, expo etc.

Some of strategies are:

1. We will give pilot people/test people for 3 month to use

2. We will present our device in medical expos and events, during expo and events we will let people

to use our product free. If they will like it, they might think to buy it.

3. We will give demos in medical and nursing colleges. We will help them to realize how it would be

easy for them to monitor their life with our product and solutions.

List of objections we might encounter and counter answer for those questions

1. Why should I buy your product?

Our product is complete health parameter test solution for you and your family. It is able to catch vital

parameter of your body. With the help of our device you can monitor your health, you can keep eye on

what’s going on with your body. Most of the people don’t know that they are suffering from diabetes,

hypertension or any disease unless these diseases start affecting their body badly, after that it becomes

difficult to manage those diseases. So, why to wait if you can keep eye with even small changes in your

body with our device.

2. What are the features of your product?

Feature of our product are

I. Glucose meter

II. Oximeter

III. Blood pressure

IV. ECG

V. Body temperature

3. Data/results acquired by your sensors match clinical accuracy?

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Yes, our device provides clinical accuracy data.

4. Why you are combining glucose meter and blood pressure?

A person who is having diabetes problem initially he has only diabetes problem but later he faces

other problems related to heart, kidney etc. So he will have to buy other devices too in future like

blood pressure measuring device etc. So why not buy a device all in one that is capable of reading all

vital body data.

5. How you justify your pricing? If I buy a glucose meter or any other device individually and your

device, how much price difference will be?

Here, this table will tell you how our product is different in pricing point of view. If you buy 2Net hub

(It’s a device that only sends data from your device to cloud, those data can be accessed by a doctor

and family member) only it will cost you $293.95, glucose meter $166, other devices will also cost you.

So why to buy these individually, now our device has all features in one.

Feature Product Pricing

Connect to your doctor and family member 2 net hub $293.95

To measure blood pressure Blood pressure monitor $166

To check sugar level in your blood Glucometer $229

To measure oxygen concentration in body Pulse oximeter $359

To measure heart signal and pulses ECG $200

Total $1,247.95

Shipping $100

All above feature in one Conn-care (IMPS) $550

Shipping $20

6. How I will see my health data?

You can see all your current real time and previous history of data on your mobile app or web portal.

Our app and web portal is very interactive, algorithm behind will do all thing and give you result in

graphical form and also suggestions, advice.

7. How my doctor will be connected to me?

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We will be storing all your data over cloud securely, your family doctor can login to web portal and

can see all your health related data.

Customer service policies

We will give 1 year warranty with the hardware product, and lots of services like;

1. Guideline and manual how to use our device in the form of videos and documents.

2. We will give telephonic any kind of assistance like how to use device, how to resolve any technical

issues, how to analyze data, how to predict their health status etc.

Regulatory Issues:

As we are developing a medical device we will need to secure licenses, we have to take care of

safety, quality, performance and effectiveness of our product.

We have to issue licenses based on our product class. In Canada, devices are grouped into four

different classes.

Class I

Class II

Class III

Class IV

Class of medical devices decides based on risk, the higher the risk of the medical device, the higher

the medical device classification. As the classification of devices goes higher we will require more

stringent data to demonstrate. If, we will fail to prove safety and performance then regulatory

will impact on product development.

Based on the product class we required different licenses, if device of Class II, III and IV must

obtain a Medical Device License (MDL). Class I devices do not require a license, class I devices are

monitored through Establishment Licenses.

We will also need to prove that you have a certified ISO 13485:2003 quality management system

that also meets the specific requirements of the Canadian Medical Devices Regulations (CMDR).

For detail information The Therapeutic Products Directorate (TPD) applies the Medical Devices

Regulations under the authority of the Food and Drugs Act to ensure that the medical devices

offered for sale in Canada are safe, effective and of high quality.

The TPD also administers fee regulations for drugs and medical devices under the authority of the

Financial Administration Act.

We have to follow some procedures to classify medical product in Canada. Devices are classified

based on health Canada’s risk based system. Medical devices are classified based on following

I. Using a set of 16 rules found in Schedule 1, Part 1 of the Canadian Medical Devices

Regulations (CMDR) SOR/98-282.

II. IVDs are also classified as Class I, II, III and IV using a set of 9 rules can be found in Schedule

1, Part 2 of the Canadian Medical Devices Regulations (CMDR) SOR/98-282.

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In Canada, Health Canada reviews medical devices to assess their safety, effectiveness and quality

before being authorized for sale in Canada. So first we have to prove our product safety and

performance to health Canada and issues all the require certificates.

So, mainly our product is depended on review of health Canada if any changes occur in

government regulatory it will impact on the approval of product. Some factor may impact on our

business

I. Increase in certification for approval of medical devices

II. Changes of rules for medical product approval

III. Changes in medical environment

IV. Changes of rules for product selling

Taxation: When any corporate runs in Ontario, that company is legally responsible for charging, collecting and

remitting the appropriate taxes. Our business type, location and legal structure will determine which taxes

will apply to our business, and what we will need to submit. Initially as per plan our business structure will

be partnership, later we will incorporate,

Before charging taxes we will have to get business number from Canada Revenue Agency, this business

number will be a single account number for dealing with the federal government regarding taxes, payroll,

import/export and other activities.

Harmonized sales tax (HST)

We will register for HST (Harmonized sales tax) once our company revenue will exceed $30,000 in 12

months period.

Income tax

Whether company is in loss or making profit, in any case we will have to fill the taxes. Good thing is

the loss of current year can be carried to next year tax filling schedule.

The corporation's tax year, also called its fiscal period, cannot be longer than 53 weeks (371 days).

A professional corporation that is a member of a partnership and carries on business in Canada has

to have a tax year ending December 31.

Example

A professional corporation was incorporated May 18, 2015. It has to have a tax year ending

on December 31. Its first tax year will be from May 18, 2015, to December 31, 2015. Its second

tax year will be from January 1, 2016 to December 31, 2016.

To file T2 incorporation tax return we need to fill a form that can be downloaded from below link;

http://www.cra-arc.gc.ca/E/pbg/tf/t2/t2-15e.pdf

This form serves as a federal, provincial, and territorial corporation income tax return, unless the

corporation is located in Quebec or Alberta. If the corporation is located in one of these provinces,

we have to file a separate provincial corporation return.

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We need to send one completed copy of this return, including schedules and the General Index of

Financial Information (GIFI), to our tax Centre or tax services office. We have to file the return within

six months after the end of the corporation's tax year (for Professional Corporation 31st December).

To fill this form there is a guide that help us in filling that form. This guide refers page number and line

number (8 pages and 990 lines) of T2 form and tells us what to fill. Some general steps are;

I. Calculating taxable income II. The basic rate of Part I tax is 38% of your taxable income, 28% after federal tax

abatement. III. After the general tax reduction, the net tax rate is 15%. IV. For Canadian-controlled private corporations claiming the small business deduction, the

net tax rate is 11%.

Municipal Tax

Kitchener municipality sets tax rates that apply to our business too, including rates for commercial

property tax. Depending on location and the types of products or services we offer, different

municipal taxes could apply to our business. Kitchener property taxes - comprised of residential,

commercial, industrial and other tax classes. Final property-tax rates for billing purposes are set in

May of each year.

Employer health tax (EHT)

If our business is permanently located in Ontario, we are required to pay EHT on payroll paid to

employee wages, unless our business is exempt. In general, the first $450,000 (as of January 1st 2014)

of our annual payroll may be exempt from EHT.

The Ontario Health Premium

We need to deduct Ontario Health Premium from our employees’ pay if they make more than $20,000

a year in employment or pension income. The premium is based on income. Individuals with taxable

income of $20,000 or less are exempt. The premium ranges from $0 if your taxable income is $20,000

or less, to $900 if your taxable income is more than $200,600.

Payroll deductions online calculator

CRA’s online payroll deduction calculator can help us determine how much to deduct from our

employee’s pay. With this tool it is easy to calculate the amount of federal and provincial payroll

deductions that are required, including Canada Pension Plan (CPP) and Employment Insurance (EI).

Zoning: When we will plan to have a building/ infrastructure for business we need zoning bylaw or occupancy

certificate from the local authorities. There are some compliances that we need to fulfill like height of the

building, area/localities in which it situated is suitable for that kind of business or not, parking space etc.

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Details of zoning or occupancies compliances can be studied at following links:

http://www.kitchener.ca/en/businessinkitchener/certificateofoccupancy.asp

Application form can be downloaded from following link:

http://www.kitchener.ca/en/businessinkitchener/resources/PLAN_2016ZoningOccupancyCertificateApp

lication.pdf

Insurance: Liability insurance is very important without this we will be responsible for any human health loss or property loss;

By our product

Accident on our property

Accident caused by any production operation

Accident at our customer’s location due to our product

Payment Terms & Collection Procedures: We will have business account in name of our company. We will prepare invoice in which our terms

and conditions are mentioned. Our business will be with both kinds of customer, organizations and individual persons. So we will have different conditions for both customers. Initially we will not offer any credit but once our business grows we will provide credits with certain term and conditions.

We will not provide any credit to individuals. If they want to buy our product on credit they will have to buy minimum 10 pieces at a time. Before providing them credit we will ask them for their credit history from bank.

We will provide credit to organizations who are buying our product. We will provide minimum time of 3 months for organizations to clear the credit As our business grow we will have good customer relation with organizations and we can provide credit to whom we trust.

We will accept payment online for the online customers. We will accept payment through cheques from customers buying directly from us. We will not accept any postdated cheques.

Warranty & Return/Refund Policy:

We will give 1 year guarantee and 3years warranty on our product. In 1 year guarantee if something is wrong in product we will replace old product with new one. 3years warranty will include replacing of non-functioning parts and any repairing needed.

We will ask our customers to register their product by making account on our website. If they log into our account they will get extended warranty and they can also get online help. If customer will create account we will get records of customers and also instant feedback which is very important for our company

Record keeping System: Creating and maintaining thorough business records is essential. We will use very efficient system for

record keeping. For example, to keep track of network, prospects and clients we will use CRM (Customer

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relation management) software. Here are some software that we will use for marketing & sales

management, finance management, human capital management and inventory management.

Marketing and sales management software

Marketing and sales management is very important, for this we could use software like SharpSpring,

Net-Results, Pardot, HatchBuck etc. HubSpot is a similar kind of software, very powerful that can be

used for all below mentioned purposes. HubSpot can even track the emails, when we will send

campaign email to leads whether they read or not, we can know everything about their action. Below

are the some of the activities that we could manage with these software.

Analytics / ROI Tracking

Campaign Segmentation

Contact Management

Content / Blogging Platform

Direct Mail Management

Email Drip Campaigns

Landing Pages / Web Forms

Lead Management

Lead Nurturing

Lead Scoring

Search Marketing

Social Marketing

Website Visitor Tracking

Finance management software

Some of the finance management software are QuickBooks, FreshBooks, Sage, intuit, Wave

Accounting, Zoho Books and Workday etc. These software could be used for following purposes.

Accounting and Finance

Revenue Management

Management Reporting

Expenses

Procurement

Inventory

Projects

Grants management

Human Capital Management software

To manage human resource, we will use software like BambooHR, TalenPlatform, Fairsail HRMS,

HireSelect etc. These software can handle following activities.

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Applicant Tracking

Attendance Management

Benefits Management

Career Development Planning

Compensation Management

Compliance Management

Employee Database

Employee Lifecycle Management

Inventory Management Software

To manage inventory we can use software like

Cost Tracking

Custom Pricing Models

Inventory Forecasting

Inventory Optimization

Inventory Overview

Order Entry

Purchase Order Management

Reorder Management

Search / Filter

Start-Up Business Acquisitions: So far we have acquired following material to start product development.

1. Raspberry Pi 2. e-health sensors 3. Basic electronics component 4. White board with markers 5. Video making contractor

We have started making prototype of our product and for that we have bought Raspberry pi, e-health sensors and basic electronic components. We regularly do meetings so we have bought a white board and markers.

We are preparing a video for showing investors how our product will look like and how to use it so for that we have given contract to video making person.

Start-Up Business Needs: We will need electronic components for building our product that will cost approximately $450.

We need to buy basic things like white board and printer for meetings and record keeping that

will cost around $160.

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We will need two contractors one for video making and other for printing our circuits. Video

making contractor will charge approximately $200 for making video and $50 for editing it in future

so that adds up to $250. PCB printing contractors will charge according to size of PCB, we initially

need 10 PCBs so over printing cost will be $1000.

We will rent an apartment which will be our home space as well as office space; per month rent

will be $1150. So, total expanse for first 2 months will be $4160. This money will come from our

personal saving we are five members in team so each will give $832 from their personal savings.

FINANCIAL PLAN

Money contributed by partners (shareholder) of company Initially all the 5 partners of the company is investing total of $10000 in the company. This money will be

mainly used for product development and to cover initial expenses of the business.

Loans (borrowing money) There is many start-up funding program run by governments and bank. Some of them are Canada Small

Business Financing, BDC Financing for Starting a Business, Futurpreneur Canada Start-Up etc. We will

approach investors too, in below funding table I am not mentioning investors funding for now due to

uncertainty in estimated investment.

Repayment plan, interest rate etc. Repayment plan, interest rate is different for every bank. Here I am presenting repayment plan of

Futurpreneur Canada Financing.

Up to $15,000 with a term over five years.

Interest is charged at CIBC’s prime rate + 3%.

Interest-only payments for the first year.

Principal repayments are made in equal monthly instalments together with interest, over the

remaining four years.

No penalty for early repayment.

Program registration fee of $50.

A $15 program fee is charged monthly for the duration of your loan, added to your monthly

repayment installment.

Projecting Sales:

Our device sale will not depend on seasons and holidays, our device is not in that category in which sale accelerate and decelerate according to season and holidays. Yes our marketing activities may get slow in winter and speed up in spring and summer season because most of the marketing strategy except digital marketing strategy will be implemented in spring and summer season thus our sales may get affected due to seasons and holidays.

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Here I am presenting monthly device sale forecast of 1st year sale (after our device, app and services are fully developed in the year starting from Dec 2017)

Season/Month Number of device sale Manufacturing capabilities

Winter

December 70 Lot #1: We will manufacture in one lot and capable of

manufacturing. January 70

February 70

March 70

Spring and Summer

April 120 Lot#2: We will manufacture in one lot and capable of

manufacturing. May 120

June 120

July 120

August 120 Lot#3: We will manufacture in one lot and capable of

manufacturing. September 120

October 120

November 120

Total device sale 1240 Total revenue generation: 1240 * 550 = 682000

Projected Income Statement (Year 1 – 5)

Income Statement

For the Years Ending [Dec 31, 2016

and Dec 31, 2017]

Revenue 2016 2017

Sales revenue

(Less sales returns and allowances)

Service revenue

Interest revenue

Other revenue

Total Revenues -

-

[42]

Expenses

Basic Website 250

Brand Development 500

Business Cards/Stationery 1,500

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Business Licenses/Permits 80

Internet Setup Deposit 80

Legal/Professional Fees 3,500

Machines & Equipment 3,000

Operating Cash (Working Capital) 3,000

consulting fees 5,000

Starting Inventory 2,000

Prototype manufacturing cost 1,000

Other 2,322

Total Expenses -

22,232

Net Income Before Taxes -

(22,232)

Income tax expense

Income from Continuing Operations

-

(22,232)

{42} [42]

Below-the-Line Items

Income from discontinued operations

Effect of accounting changes

Extraordinary items

Net Income -

(22,232)

Balance Sheet

Date: 4/18/2016

Assets 2014 2013

Current Assets

Cash 5,000

Accounts receivable

Inventory

Prepaid expenses

Short-term investments

Total current assets 5,000

-

Fixed (Long-Term) Assets

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Long-term investments

Property, plant, and equipment

(Less accumulated depreciation)

Intangible assets

Total fixed assets - -

Other Assets

Deferred income tax

Total Other Assets - -

Total Assets 5,000

-

[42] Liabilities and Owner's Equity

Current Liabilities

Accounts payable

Short-term loans

Income taxes payable

Accrued salaries and wages

Unearned revenue

Current portion of long-term debt

Total current liabilities - -

Long-Term Liabilities

Long-term debt

Deferred income tax

Other

Total long-term liabilities - -

Owner's Equity

Owner's investment 5,000

Retained earnings

Other

Total owner's equity 5,000

-

Total Liabilities and Owner's Equity 5,000

-

{42}

Common Financial Ratios

Debt Ratio (Total Liabilities / Total Assets) 0.00

Current Ratio (Current Assets / Current Liabilities)

Working Capital (Current Assets - Current Liabilities) 5,000

-

Assets-to-Equity Ratio (Total Assets / Owner's Equity) 1.00

Debt-to-Equity Ratio (Total Liabilities / Owner's Equity) 0.00