Musing about how to start a tissue bank business? This is a sensitive undertaking, in part because the way human tissue is obtained has come under scrutiny in recent years. The medical profession is divided on the methods and limitations of tissue collection, specifically cancerous and other excised samples that may or may not be the property of the patient donor. Tissues for research are a great idea in principle, but it's not always so clean an issue to bring up with investors – or patients. That said, you will of course need a business plan to get funding for a company like this, and that document should contextualize the venture and give a strong yet reasonable assessment of its potential by answering these questions:
• Where will your lab be located?
• How will samples be received and processed?
• What marketing will be required?
• What is the mechanism for earning revenues?
• When can you reach break-even based on the funding you will need to seek?
• Do you have any existing affiliations with medical clinics that could make the venture get off the ground faster?
The business plan should identify the target customers (academic research labs, university hospitals, drug companies other medical facilities, etc.?) and estimate the prices that the tissue will command. The plan also needs to have a full accounting of the associated costs and fees that a tissue bank will incur in the collection and storage of human samples. The pro forma financial model should offer at least a five-year look at anticipated revenues and profit margins. Need assistance? MasterPlans has worked with tissue bank clients before and has written plans for bioactive samples facilities. Call a consultant of ours today to learn more about how we can help: (877) 453-2011.
