A plastic surgery business plan will perform best if you can demonstrate the likelihood of consistent sales and a steady customer base in your specific area of operations. There are two sides to this coin: if you are in a mecca for cosmetic procedures like Los Angeles or New York, the market need is established but you will have to show that you can outperform your competition. If you're in a smaller market or opening a clinic somewhere without any direct competition, can you gather enough market data or primary research to show that you would be able to sell enough services to maintain adequate cash flow, cover all your expenses, and service any loans you took on at start-up? Knowing which scenario applies to you is critical, and you should lay this groundwork before you get going. Other important things a plastic surgery business plan should account for:
• - What does your management team look like?
• - Do you have non-medical staff who are instrumental to your business?
• - Will you need to recruit for any positions, or fill management team gaps?
• - Of the surgery centers you face competition from, provide a complete competitive profile on them – specialties, years in business, estimated sales, potential weaknesses, etc.
• - How will you market your services going forward?
• - Provide a detailed list of procedures you can perform. If you have a history in business, before and after photographs or testimonials would be appropriate as well.
You will also need to develop a complete financial pro forma, no matter where your facility is, showing estimated revenues, cash flow, balance sheet, profit and loss statements, break-even, and a use of funds. Sensitivity analyses, ratios/assumptions, and monthly statements for Year 1 are also valuable to have. If you want to consult with a professional firm about developing your business plan or need to outsource the entire process to save time, MasterPlans is your best business planning partner. We have written for medical facilities of all types, and our in-house staff of experts can prepare a funding-ready business plan for you in record time. Call 877-453-2011 to speak with a consultant today!
