Opportunity
Problem
It is not uncommon for rural areas to lack medical services. This applies as well to XXXX, where Park Square will be located.
Solution
Park Square Family Medicine’s mission promotes the health and wellbeing of the local community by providing access to high-quality, affordable medical care for all age groups. Park Square Family Medicine is determined to deliver services that surpass the expectations of patients. The result will be a profitable and successful business.
Market
According to the local area “Economic and Demographic Profile Report,” there is an increasing demand for cost-effective health care in the nation and in our region. Particularly, the area’s population is forecast to increase by 3.5% per annum and will eventually reach 160,000.
Competiton
Park Square Family Medicine is part of a larger medical industry, including “Offices and Clinics of Medical Doctors.” Private medical practices are small, usually with only 4 doctors. They may offer general or specialty services. They are well-suited to semi-rural or rural areas which do not have sufficient population to warrant a hospital, larger medical group, or other facilities.
In this 15,000-person town, there are five family doctors. There are 160,000 possible patients within 35 miles. These numbers make for a favorable marketing strategy because of the excellent patient-to–doctor ratio.
Why Us
Park Square Family Medicine’s mission is to improve the health and well-being in the community by providing high-quality, accessible medical care for all ages. Park Square Family Medicine is dedicated to providing high-quality services that meet the needs of our patients. This will result in a profitable and successful business.
Expectations
Forecast
Our current forecast predicts unrealistic profits. Because we know that expenses will continue to rise, we keep it as is. They always do.
Financial Highlights by Year
Financing Required
We will require a loan to cover $288,000. It is estimated that $225,000 of this amount will be spent on long-term asset accumulation. The remainder will be used for medical expenses and startup expenses.
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