Business Proposal for Nova Eye Care

Running head: ACCOUNTING CAPSTONE
Accounting Capstone
Name of the Student
Name of the University
Authors Note
Course ID

1ACCOUNTING CAPSTONE
Executive summary:
Nova Eye Care is a solution for all sorts of eye related problems. The business would be
providing the eye care service delivery in Sydney. The mission of Nova Eye Care is to create
the first class eye care clinic that would take care of the highly placed customers and lowly
placed clients until and unless they can afford the service of Nova Eye Care. An all-inclusive
eye examination would be carried out by the Optometrist or by the ophthalmologist, however
it would not be limited to lensometry, visually acuity testing, refraction to ascertain the
eyeglass prescription. The business would provide optometric service to their patients.
The products and services includes the eye examinations, medical treatment of eye diseases
and laser treatment. The services would also include the muscle and pupil assessment and
microscopic assessment of the interior portion of the eyes. Nova Eye Care would place its
emphasis on the market strategy by building the market share amid the outcomes – conscious
eye care patients. To maintain the competitive strategy goals Nova Eye Care would remain
dependent on the supremacy of its business technology so that it can thrive in the competitive
market. As the competitive strategy goal the business would source the external aids,
prevailing laser refractive surgery and alternative non-laser surgical process.
Nova Eye Care would be following the line organizational structure as the owner considers
this organizational structure most useful for the business. The senior manager would be at the
top while people that are responsible for other areas and teams of people that work in every
department. Nova Eye Care sales strategy include the investment in its technology by
purchasing the laser that would be used by the business in its process. Once the investment
has been made the sales effort needed would heavily rely on the refractive surgery. Nova Eye
Care aims to raise the capital through owner’s contribution and bank funding. Funds obtained
from the bank would be used for the business operations.

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Table of Contents
Business proposal, research and analysis:..................................................................................5
Vision:........................................................................................................................................5
Mission Statement:.................................................................................................................5
Description of Idea/Product:..................................................................................................5
Product description and features:...........................................................................................6
Industry Analysis:......................................................................................................................6
Market trends and growth Opportunity:.................................................................................6
Economic and Regulatory Environment:...............................................................................8
Competitor and market Analysis – Target Market, competitors:...............................................8
Target market segment strategy:............................................................................................8
Competitors:...........................................................................................................................9
Competitive strategy goals:....................................................................................................9
Competitive advantage:..........................................................................................................9
Market research:...................................................................................................................10
Marketing Strategy:..................................................................................................................11
Advantage to customers:......................................................................................................11
Business Core Values:..........................................................................................................11
Broader Business Objectives:..............................................................................................11
Product features and customer services:..............................................................................12
Pricing strategy:...................................................................................................................12

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SWOT Analysis:..................................................................................................................12
Advertising and promotion:.................................................................................................13
Operations:...............................................................................................................................13
Organization structure and personnel summary:..................................................................13
HR Policies:.........................................................................................................................15
Staff training and presentation:............................................................................................16
Process and activity analysis:...............................................................................................17
Accounting system:..............................................................................................................17
Advertisement and Promotion to be Undertaken and its costs:...........................................17
Health and Safety regulations:.............................................................................................18
Internal control Systems:......................................................................................................18
Risk Assessment:.................................................................................................................19
Administration..........................................................................................................................20
Business Location:...............................................................................................................20
Staff roles and responsibilities:............................................................................................20
Staff training and Presentation:............................................................................................21
Staff Regulations and policies:.............................................................................................22
Advertisement and Promotion:............................................................................................22
Marketing strategy:..............................................................................................................23
Accounting Systems:............................................................................................................23
Management –..........................................................................................................................24

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Business name registration:..................................................................................................24
Management Hierarchy and Lines of Reporting:.................................................................24
The strategic direction and growth initiatives:.....................................................................24
Financial Plan...........................................................................................................................25
Key Performance Indicators:................................................................................................25
Important Assumptions:.......................................................................................................26
Start-Up Capital Expenditure:..............................................................................................26
Sales Forecast:......................................................................................................................27
Profit and Loss Account:......................................................................................................27
Cash Flow Forecast:.............................................................................................................28
Balance Sheet:......................................................................................................................29
Break-Even Analysis:...........................................................................................................31
What if Analysis:..................................................................................................................31
References:...............................................................................................................................33
Appendix:.................................................................................................................................38
Ratio Analysis:.....................................................................................................................38

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Business proposal, research and analysis:
Vision:
Nova Eye Care vision is to be the number one choice when the situation for eye care
service delivery in Sydney. The vision of Nova Eye Care is to offer the field of
ophthalmology with the ground-breaking projects that would facilitate the optometric practice
and conditions.
Mission Statement:
The mission of Nova Eye Care is to create the first class eye care clinic that would
take care of the highly placed customers and ordinary placed clients until and unless they can
afford the service of Nova Eye Care. The mission of Nova Eye Care is to be the leaders in the
optometrist industry in Sydney and in Australia as a whole.
Description of Idea/Product:
The objective of the Nova Eye Care is to offer their customers with the overall eye
care for the customer that does not has insurance or the liability of paying the medical care.
Patients at Nova Eye Care would receive the below stated following services;
a. An all-inclusive eye examination would be carried out by the Optometrist or by the
ophthalmologist, however it would not be limited to lensometry, visually acuity
testing, refraction to ascertain the eyeglass prescription.
b. The services would also include the muscle and pupil assessment and microscopic
assessment of the interior portion of the eyes.
c. Nova Eye Care includes retinal examination, tonometry and ancillary test as directed
by the consequence of individual patient check-up.
d. When any medical conditions are identified, a patient would be receiving the
continuous support and eye surgery as and when needed.

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Product description and features:
The business would provide optometric service to their patients. The products and
services includes the eye examinations, medical treatment of eye diseases and laser treatment.
The services would also include the muscle and pupil assessment and microscopic assessment
of the interior portion of the eyes. The business would also prescribe and sell eyeglasses and
contact lenses by conducting eye examination of the potential clients.
The customer satisfaction survey suggests that buying patterns involves substantial
and infrequent purchase that has excellent manufacturing support. The survey reveals that the
purchase patterns of consumers is mainly based on opting for services that provide value
based returns.
Industry Analysis:
Market trends and growth Opportunity:
The industry of eye care in Australia has largely obtained benefits from the favourable
government policies, favourable demographical trends, significant advancement in
technologies and constant awareness of eye hygiene (Dees, 2017). On the other hand,
healthier eye care has to some extent suppressed the income that is generated from the
industry. Therefore, limited accessibility of patients for eye care as nearly one-half of the
population in Australia only covers the emergency eye care for Medicaid patients has resulted
some eye care clinics to reduce their price and cut down their profitability.
The eye care industry has of late recently started consolidating because of the pressure
of the healthcare reformation (Kirzner, 2015). The truth lies in the demand for eye care
services which has over the years increased as reformation in the eye care legislation has
widened the coverage of insurance and the declining rate of employment has increased the

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disposable income. Being the investor in the Optometrists cum eye care industry and also to
maintain the advantage position in the competitive industry, the business would source the
highly skilled and specialized eye care professionals.
The most important thing regarding this industry is the cost of labour which is very
high. Nevertheless, private hospital has also faced the shortage of nurse and optometrist that
have struggled to employ new skilled personnel (Hitt & Duane Ireland, 2017). Over the last
five years the profitability of this industry has increased because of the increase in the service
costs. With no doubt, the industry would continue to expand and turn out to be highly
profitable due to the increase in eye hygiene awareness among the consumers.
Essentially the possible market is nearly similar to the probable market for Nova Eye
Care. According to the market survey there is a base of wider market potential for the laser
refractive surgery industry (Kuratko, 2016). It is projected that 54% of the Australian
population are eligible for refractive correction by using the latest technologies or those that
are in the near horizon. The primary research is conducted by contacting nine leading
ophthalmological medical institutions in Australia out of which seven have expressed their
interest in contributing to the research of collaboration and carrying out the NICS once the
information is available (Parker, 2018).
The industry of optometry practice is estimated to offer revenues of greater than $10
billion annually and provide employment to more than 85000 people. It is estimated that
there are around 20,000 private optometry practice in Australia (Kazanjian et al., 2017). The
industry provides the opportunity for growth than the general economy as majority of the
baby boomers would need higher level of eye care in the coming ten to twenty years.