BUSINESS STUDY

Diagnostics
WELCOME
Planned vision ensures confirmed success!

But there’s a lot more to a good business than a good idea. it

needs to think things through to maximize the chances of success.

The proposed business plan will ensure to turn a projection into an

actual business success. By covering the various of the concerns of
the business cycle the proposal has been made with thorough
balance of market and financial victories keeping in concern the
target costumers and existing competitors in the current market
with combination of provided services.

Application of the plan with sequential timeline will definitely

promise the firm establishment of nonstop journey towards the
market heights making the subjective entity major shareholder of
the related market share.
CONTENTS

SECTION ONE
Executive Summary 01
SECTION TWO
Who We Are 02
SECTION THREE
Product line & Section 03
SECTION FOUR
Target Markets 04
SECTION FIVE
Perfect Competition 05
SECTION SIX
Marketing Strategies 06
SECTION SEVEN
Competitors & Comparison 07
SECTION EIGHT
How Much it will Cost 14
SECTION NINE
Financial Benefits 15
SECTION TEN
Survival Budgeting 16 £
SECTION ELEVEN
Cash Flow Forecast 11
SECTION TWELVE
Cost Table 12
SECTION THIRTEEN
Plan B 13
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 SECTION ONE

THE QUICK PITCH

EXECUTIVE SUMMARY
Brief Introduction Targets to Achievement

Being associated with services Defined targets with strict deadlines

concerns business, the idea is to retain will help to elevates the project of this
the existing database with fixed business and related success factors.
business projection before exploring the
new areas of the business ideas.

LAB247 Diagnostics located in a

densely populated location of the
emirates surely is capable to deliver
unbeatable services and satisfaction to
the customer in-house and on-site as
well in unique way of selling to retain
the audience either it is consumer or
third party (corporates).

1.3 Financial summary

Financial security and
1.1 Introduction balancing the market with
Idea financial benefits is the key
Lab247 Diagnostics to ultimate achievements.
can be a leading entity We are aiming to target
contributing the the most of the cash
healthcare sector in business in the market
various diagnostics alongside with credit
and screening facility management for
activities. It comes with dual side growth factor.
1.2 Business aims Cash injections in the
diverse range of
Setting up monthly, business will enhance the
services offered
quarterly and yearly facility with financial
picking up keenly in
targets for the security while credit helps
accordance with the
achievement is essential to cover the major market
market demand and
to carry forward any share in the related sector;
response. In short, The
business. The idea to Insurance, corporates,
Lab will be one stop
equipped the laboratory hospitals, camps.
solution of all Medical
with top notch quality
Diagnostics and
services and heading
Prognosis.
parallel to introduce
innovated methodologies
of diagnosis and
educating the audience.

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 SECTION TWO

WHO ARE WE

DCC BACKGROUND

2.1 Why we want to run your business

Being associated with various healthcare sector activities, we do have a
diverse knowledge to run and elevate the business of services concerns
applying with local market opportunities. While supporting lab247 with our
further existing projects in healthcare sector, we assure quick ROI in terms of
financial interest and acquiring major market share with different approaches
of the business.

2.2 Previous work experience

Being a part of healthcare provider services; Medical Centers, Insurance
Companies and government advisor at some extent. DCC has quite handsome
experience to run the show with maximum utilization of the existing resources in
addition with the critical knowledge of deploying further development with
projection of returns in terms of sales and profit.

2.3 Qualifications and education

DCC is equipped with various analysis individuals in various specialties to guide,
analyses and audit the ongoing direction of the business. Either is technical
knowledge or marketing approach or if there is financial assistance and risk
management, DCC got all the skills to manage any business yet specially a services
concern in healthcare sector.

2.4 Training & Development

Deployment of the right individual responsible at the right time in with right
skillset is the formula to maximize the manpower utilization in the business.
Appointment of right individual and the training and development of the
existing manpower are the essential tools for DCC’s success to management
projects.

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PRODUCT LINE & SECTION
PRODUCTS AND SERVICES
Unique Offering
Being capable to offer a broad range of
diagnostics and screening services to
the customers, Lab247 will cover all the
corners of the market by offering the
right product to the right consumer.
Services will be categorized in
accordance with the arose need and
the target market in different
classifications.
3.1. Area of Specialization
Following will be the major
areas of services being
rendered by Lab247
Diagnostics;
1. Routine Testing
2. Immunoassay
3. Biochemistry
4. Routine PCR
5. Molecular Microbiology
6. Specialized Testing
7. Non-Invasive Testing
3.3 Services for Everyone.
The wide range of services will
be designed in order to meet
the needs of the customers in a
way of offering promotions,
combinations of one service
with another and exclusive
services in the markets.
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SECTION THREE
Areas of Concern
While setting up the product line and
offering the services, being taken
care of the selection of the menu
aligned with the local market demand
and also following up the contingency
demand of the customer.
3.2 Interdependent Products.
Lab247 will offer a complete
range of lab testing being
capable to initiate any
diagnostics or to elevate any
treatment to a level of prognosis
and diverse treatment alongside
with expert advice from
pathologist and expert lab
technicians.
3.4 Selection of Services
In accordance with the available
resources, the provided services
will be rendered in the best
combination of delivery time and
pricing; for that, there will be
critical process of selecting the
services and to be decided if its
going to be rendered in hour or
outsourced.
 SECTION FOUR

TARGET MARKETS
THE MARKET
Purpose of this section Balancing of Market
Identifying the right customer for each
The best proof that customers will Restricting to only one sector of the
service and the time of offering the
be interested in your services is if you market will deploy limits to the growth.
services is the most crucial element in
have already rendered some of your The business should be dynamically
the business cycle.
services. The next best thing is to flexible to serve the needs of the
generate the marketing cycles from the direct consumer, corporates and
Categorization of customer classes will existing client tails while generating the third-party request in addition to the
help to planned well the sales and targets new opportunities for the business. public sector engagement.
in addition to the financial forecasting and
budgeting for the business.

4.6 Existing Brand and Database

Lab247 has been existing in the

4.1 Target Markets
For the initial stage we are
going to hit three major
areas of market to cover up
the cost in short run;
1. Non-Medical
Corporates.
2. Insurance corporate
Clients.
3. Walk In Customers
4.4 Competitive Edge
Having the combination of
different market areas. The
sales coverage will extend
across the emirates and the
services will be start
acknowledging in the markets.
Since the point. Increment in
sample load will allow to
renegotiate the cost with
supplier and insurance
supplier and this will create the
multiplier effect leading to
control the market in long run.
4.7 Potential Area
market for last one year serving
public majorly in covid 19 pcr
After reviewing the target
testing. Being having the customer
markets, will identify the
database we will utilize to market
potential targets to be set up
exclusive offers and promotion in
and milestones to be achieved
beginning to attract the crowd and
within the set time limits.
starts promoting the lab name and
The potential area may not only
so on so far the addition will keep
concern with the price margins or
happening.
high profit but also involved major
market share, incremental turnover
and going up to the economies of
scale.

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 SECTION FIVE

PERFECT COMPETITION
MARKET RESEARCH
Purpose of this section How to complete this section

In section four, we described our
potential customers. Most of these
customers will already be using other
businesses. This section is to research
those businesses and customers.
Lots of businesses look good on paper
but the only test that matters is whether
the service sells. You can’t be sure that
your assumptions about your business
are right unless you do some proper
research.
There is no right amount of research. It There are two types of market research
is better to research your local market, outlined in the illustration below:
in the area you are going to run your
business, than it is to research the entire > Desk research
global market. The right amount of > Field research
research will tell you what your market
looks like, how it behaves and what
customers expect.

5.1 Desk research > any important facts, statistics or events

It involves learning what other people > whether the market is seasonal or
say about the market and finding out
dependent on other external factors
basic facts. When writing a
(for example, the weather,
description of the market, it includes;
> how big the market is (for example,
pandemic etc.)
how many sales take place in a year?)
> trends in your market (for example, are
sales going up or down? Are people
changing how they buy the product/
service?)

5.2 Field research

It is the best way of working out if it will
be successful. You should ask potential
customers to complete questionnaires.
If you are selling a product, you should
also carry out test trading to see whether
people will buy your product.

5.3 Barrier and Opportunities

The above research engines will give
refine idea of the market behavior,
potential, and flexibility and according to
that we will find our best fit in the market
in terms of services offered, target
markets and competitive edge.

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HOW WILL YOU CONTACT
YOUR CUSTOMERS?
MARKETING STRATEGY
The Idea
The mode of communicating to the
customers define the elevation of sales
in scale of timeline which is definitely
will be happen through marketing.
Marketing describes any activity that
attempts to make contact with potential
customers.
Good marketing materials – in whatever
form – will grab a customer’s attention,
capture their interest, illicit their desire for
your product/service and direct them to
take action and find out more.
If marketing is successful, your potential
customers will learn what your business
does and where to find you. Popular
marketing methods are outlined below.
Word of mouth – Indoor Marketing
When customers hear about your
business through others, that’s word-of-
mouth marketing. If customers like your
business they will often recommend it
all on their own. However, it is worth
considering how you could encourage
them to tell people, for example, by
offering an incentive like a discount, or
by giving exceptional customer service.
Direct marketing
Direct marketing involves contacting
potential customers to directly sell your
service to them. It can be done on the
phone, in a letter, email or face-to-face.
You should explain:
if you are going to distribute
materials to customers, explain how
and where
> which method of contact you will use,
whyand how much it will cost
> how you will find names and contact
details of potential customers
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How to complete this section
Different marketing methods are outlined
below. Decide which methods are best for
your business; choose about three and
list the required detail for each.
Important
You must include all costs in your
cashflow forecast in section 10.3.
Social media
Different social media can be a very
effective way of marketing your business.
It’s free, allows you to put a face on your
business and invites a vast network to
interact with your activities. As well as
the widely used Facebook, Instagram,
Snapchat, there are now social
networking sites for small businesses
which can help you
to focus your efforts. If you’re planning
on using social media to market your
business, you should consider:
> what you want to achieve from social
networking and how you will engage with
your customers, for example, will you
create a blog to give customers the inside
view on your business or get customers
to offer feedback on services rendered?
> which networking sites are preferred by
your target market and for what purpose
> which networking sites are preferred by
your target market and for what purpose.
SECTION SIX
Tradeshows and exhibitions
Some businesses can access large
audiences at a tradeshow or exhibition.
However, exhibiting is expensive and time
consuming, so you need to be sure it will
be worth the effort. If you plan to attend
events, it should justify:
> which events you are planning to attend,
when and how much it will cost
> why it is important to attend these events
at this stage in your business
Website
Websites don’t have to be complicated -
just three or four pages to show what
you do and how to contact you. If you
already have a website, you should give
the address. If you don’t have one but
plan to, you should explain:
> the design and any special functionality
you want to include, for example,
online access, reservation and
education.
 SECTION SEVEN

COMPETITOR &
COMPARISON
COMPETITOR ANALYSIS
The Basis

A competitor is any business that offers A SWOT analysis will help to

a product/service that is similar to yours.
Businesses often have many competitors.
It’s best to focus on those which
customers are most likely to buy from
instead of you; probably those nearest to
you, with the most similar prices or the
most similar services.
A fair reality can be analyze by putting
facts n
i a SWOT analysis. SWOT stands
for Strengths, Weaknesses, Opportunities
and Threats.
understand all the things, good and
bad, that could affect the business.If
it is known what these are, you can
work out how to resolve them or use
them to your advantage. Thinking about
your weaknesses and what could go
wrong is important because it will allow
you to correct your mistakes before they
happen.

7.1 Table of competitors 7.2 SWOT analysis 7.3 Unique Selling Point (USP)
Find out information about your Each part of a SWOT analysis is Your USP is the thing that makes your
competitors. explained below. business different from your competitors.
It might be specific to your service or it
might relate to the way you run your
It will consist of: business. It would be the reason that
who they are Strengths customers stopped using a different
where they are > Positivethings about the business that business and became your customer.
what they sell will make it stand out against competitors.
how much it costs These might be specific to the
how big the company is service or more general factors.
what their main strength’s
and weaknesses are
Weaknesses
All the things that could mean
struggle to make the business work.
for example, areas that might be affected
by your lack of experience or overhead cost.
For each weakness, there is a solution and
corrective measures.

Opportunities
External factors that you and your
competitors can take advantage of, for
example, changes in the law or market
trends, new outbreak, innovative tech
etc.

Threats
External factors that could affect how
well your business and your competitors
do. For example, lifting and imposing of
public rules or any new outbreak
Realizing the threat is the first step
to be prepare and convert it into
your opportunity and finally in
strength.

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 SECTION EIGHT

HOW MUCH
WILL IT COST?
COSTS AND PRICING STRATEGY
Purpose of this section

Before you decide how much to sell

your services for, you need to work out
how much each one costs youto make
and deliver. This will stop you selling
things for less than they cost.

The price you charge customers for

a service must be higher than its cost
and include enough money to cover the
extra costs of running your business
(Sales margin) and essential personal
costs
taken from corporate survival budget.The
difference between an item’s cost and its
price is its profit margin.

A.
If you can’t work out the price
of a single service, you can
work out the price of a batch.
For example, Routine test,
Biochemistry, Immunoassay,
Routine PCR etc.
B.
Break down the service into
parts (for example,reagents,
consumables and wastage)
and put each one in a separate
measurement. Work out the
cost of each and write it down
in the relevant array.
C.
Work out the total cost of the
different parts of the service
(add up all costs in B).*
D.
If you worked out the cost of
a batch, i.e., for more than
oneservice, to work out the
cost of an individual unit,
divide the total cost (cost C)
by the number of products/
services in your batch
(Cost A). *

E.
Work out a price that will cover
the business overhead costs
and give reasonable profit.
Compare this price with your
competitors to see where you
stand. This (cost E) is the price
you will charge your customers.
F.
Work out the difference
between your unit cost (cost
D) and your price per unit (cost
E). This difference is your profit
margin (£).
G.
Work out the profit margin as
a percentage (%) by dividing
your profit margin (cost F) by
your unit price (cost E) and
multiplying by 100.
H.
Work out the mark up by
dividing your profit margin
(cost F) by your unit cost (cost
D) and multiplying by 100.

Once the deep detailed costing process is finalized, Set

up a minimum Average sales profit margin on sales to
set up the projected revenue targets and budgeting
accordingly.

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FINANCIAL BENEFITS
FINANCIAL FORECASTS: 10.1 SALES AND COSTS FORECAST
A sales forecast shows how many sales
are aiming to achieve in the first year
and how much money that would mean
to be receive. It’s hard to know whata
realistic number of sales might be so it’s
better to plan for the worst case.
For lots of businesses, the number of
sales made is affected by external factors
such as, holidays, seasons, weather, etc.
Think whether the expected sales to be
different in some months and show this in
the sales predictions.
Sales calculations
B. Cost Calculations are majorly divided
A. Sales calculation required the actual
sales with the ration of projected sales
set up in the beginning of the company’s
fiscal year. It includes all the major sales
of the company but not the other income
such as, any income out of company’s
normal business
C. While planning the financial forecast,
15
SECTION NINE
£
A cost forecast shows how much money
is going to be spend on services if you
achieve the number of sales in your
sales forecast.
Costs calculations
into two categories allocating before
and after Gross Profit. It requires the
financial assistance to allocate the
cost. Costs before Gross Profit are
the expenses occur directly to render
the services and are calculated
accurately while the expenses after
Gross Profit explains the general
expenses occur throughout the year
to carry forward the operations and
normally covered within the sales
margin to keep the company in net
profit.
Assumptions
keep in consideration the factual
assumptions and planning for any or all
the external factors ruling the market.
 SECTION TEN

10.2 COMPANY SURVIVAL BUDGET

Purpose of this section

A survival budget shows the amount

of money company needs each month
to liveon. To work it out add up all the
money spend and take away any
money the company get as income
from sources other than the normal
course of business.

A. List all the different expenses being

spend on each month. Some of these
will have predictable costs, for example,
rent, and others will vary, for example,
entertainment costs. For the items that
vary, it should work out how much
on average spending a month. Do not
include the business costs.

Some possible expenses may be:

Mortgage
Rent
VAT
Utility
Subscriptions (Licenses, Visa, renewals)
Insurance
Logistics
Commissions
Salaries

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 SECTION ELEVEN

10.3 CASHFLOW FORECAST

Purpose of this section

A cashflow shows how much money
is expected to come in and out of the
business. It brings together all the work
have been done in the plan. The
cashflow forecast must be calculated
realistically making sure:
Once the business is started it should
have to keep a record of the actual
income and expenditure and it should
be compare this to the plan established
to give an idea of how well the business
is doing.

> include seasonal changes in overhead

costs such as increased of expenses
with increase of sales
> Possible delays between when the
Sales happened and when the receive
payment – Credit Controlling
> do not over estimate how much stock will
be required
> split costs that can be paid on a monthly
or quarterly basis

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 SECTION TWLVE

10.4 COSTS TABLE

Purpose of this section

The costs table explains what is included

in each cost in the cashflow. It also
explains what assumptions have been
used to work the cost out.

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 SECTION THIRTEEN

PLAN B?
BACK-UP PLAN
Purpose of this section
business and tackle Plan B. And it’s
Sometimes, despite careful planning, the
far better to have a Plan B in the back
unexpected will happen and a business
pocket ready, if and when the unexpected
will fail. There are many reasons why a
happens
business might fail; a lack of cash, a new
competitor or changes in the market
behavior.

Nobody plans to fail but it is important

to plan for the ‘what if’ scenario. What if
doesn’t work out as you planned?

Sometimes all that could be required is

changes to the existing business style
that reduce the costs or boost income.

PLAN
OBSERVE

REACT

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