Building your Practice
- Building your Practice
- Practice Health Check
- The Optic 2000 club
- Pricing Policy
- Recall Letters
- Recall Management
- Patient Satisfaction Survey
- Pre-examination Questionnaire
- Advertising and Promotion
- Best Practice 2008 Seminars
- Patient Journey Programme
- Practice Development Programme
- Partner Searches
- VAT Advice
- Competitor Research
- Expert Witness Services
- Business Planning
- Location Validation
Business Planning
Starting a business from scratch can be a high risk strategy and requires careful planning if you are to succeed. It is important to have objectives and actions in place to have an overview of where the business is heading.
A Business Plan is an essential document for any business:
- It acts as a working document during the first year of business; enabling you to have an overview of what actions you need to undertake to get you where you want to be.
- It helps persuade banks and lenders that your new venture if viable.
- It can help to 'kick-start' a struggling business with new objectives and actions to help you to improve sales and turnover.
A good Business Plan should consist of:
- A brief description of what you want to achieve in your new practice, how you will go about it and why you will be successful.
- Validation of the local market which discusses: market size in terms of potential patient numbers and value, socio-economics and demographics and what market share you will have after three years.
- Your Unique Selling Proposition which details why patients will patronise your new practice.
- A projected Profit & Loss Account for the first twelve months. This will show details of the income and expenditure.
- A Cash Flow Forecast for the first twelve months.
Myers La Roche provides a low cost Business Planning Service which ticks all the boxes and costs £550 + VAT, if you provide all the preliminary information. Alternatively you can add a Location Validation to your business plan for an extra £260 + VAT.
Once your Business Plan is completed, we will introduce you to specialist sources of finance for your optical practices and discuss your plan with the lenders and underwriters.
For more information email us.