Scientific instrumentation business plans outline the specific envisioned use and market application of a new scientific product or service suite. This can include a broad range of breakthroughs across many fields, and the business plan should be tailored as closely as possible to your exact instruments. What market use does your instrumentation have? Who is the target customer -- private sector, U.S. industry, the government, etc? These are important questions to address, but there are others:
• Have you filed for a patent yet, and if so what is the status?
• If product development is ongoing, can you lay out a milestones map with timeline points?
• Who will be on your executive team and/or your advisory board?
• What competition will the device or instruments face on the open market?
The scientific instrumentation business plan also needs to explore the state of your industry and the major developments and trends of recent years. This analysis should inform the pro forma model, which will need to provide a 5-year forecast including revenue, profit and loss, balance sheets, cash flow statements, and a monthly breakdown of key metrics for the first year post-funding. If you want to hire a private consultancy to write your business plan or prepare the model for investors, no company has more experience than MasterPlans.com. Call 877-453-2011 to speak with a consultant today and get a free quote.
