Business Plan for Care Agency LTD: Nursing Staff and Care Services

This report details the business plan for Care Agency LTD, a nursing staff agency based in Wolverhampton, UK. It outlines the company's services, which include providing qualified nurses and care staff to various healthcare facilities, with 24/7 support. The report includes a comprehensive market and industry analysis using PESTLE, SWOT, and Porter's Five Forces models. It also covers service descriptions, value propositions, competitor analysis, sales and marketing strategies, and management team details. Furthermore, the plan addresses financial projections, funding strategies, and risk management. The report emphasizes the company's unique selling points, such as 24-hour support and employee-oriented policies, to gain a competitive edge in the market. Ansoff Matrix is used to illustrate market penetration method. Industry statistics are analysed to highlight the growth potential in the healthcare sector, especially the need for qualified nurses. The business plan aims to establish Care Agency LTD as a reliable provider of nursing staff, addressing the increasing demand in the healthcare industry.

ENTREPRENEURSHIP
AND LEADERSHIP OF
BUSINESS VENTURES

Executive Summary
This report had focused upon development of business pan for Care Agency LTD that
provide qualified nurse and care staff to nursing homes, residentials homes, hospitals, private
complex who requires qualified staff. This report will provide details of business, location,
market, industry analysis, service description, competitive analysis, USP, operations plan, risk
and contingency plan, sales and marketing plan, finance and funding plan, management team.

Table of Contents
Executive Summary.........................................................................................................................2
BUSINESS PLAN...........................................................................................................................1
Business details and Location......................................................................................................1
Market/ Industry Analysis...........................................................................................................1
Product/ Service description........................................................................................................3
Value proposition/ Unique selling point......................................................................................4
Competitor analysis and competitive advantage.........................................................................5
Sales and Marketing Strategy......................................................................................................6
Segmentation Analysis................................................................................................................7
Marketing communication mix....................................................................................................7
Marketing expansion and development strategy.........................................................................8
Management Team......................................................................................................................9
Finance and funding plan...........................................................................................................10
Risk and Contingency plan........................................................................................................12
REFERENCES..............................................................................................................................15

BUSINESS PLAN
Business details and Location
Nowadays various kinds of care homes like nursing homes, residentials homes etc. are
opening that provides care and support to people 24*7 (Sukma, Lubis and Utami, 2019). These
care homes require qualified nurses that can engage with people and provide them with high
quality care. ‘Care Agency Ltd.’ is a kind of agency that provides qualified nurse and care staff
to nursing homes, residentials homes, hospitals, private complex who requires qualified
staff. This Care agency Ltd. will be located in Wolverhampton, England, UK. ‘Care Agency
Ltd.’ will be providing 24 hours support for seven days a week to all the nurses. Not only this, all
the senior nurses will be trained in a much better manner as they are much experienced and they
understand law in a much better manner. They will also provide opportunity to workers so that if
they want to work at same place then they will have an option to work at same place.
Market/ Industry Analysis
Market or industry analysis is one of the most important assessment for business plan and
it is crucial because it helps a business to understand market conditions (Moro Visconti, 2016).
This analysis helps a business to understand demand and supply of products and services in
industry. Industry Analysis of Care agency Ltd. will be done with the help of PESTLE analysis
and in order to understand opportunities and threats for Care agency Ltd. in market in which they
operate SWOT analysis will be done. Also, porter 7 force analysis will be done.
Porter 7 forces analysis
Industry dominant economic features- there are several factors which can impact on company. In
this entry barriers are strict in health care industry.
Source of competitive forces- there are already various companies operating in providing 24/7
care services. Thus, here competition level is high. So, this may create pressure on Care agency.
Driving forces- here, driving force in health care sector is change in lifestyle of people. This will
highly result in long term growth of care agency. Besides that, government policy changes is also
driving force in it.
Market position of rival firms- it can be analysed that the position of rival is strong in market.
They have built a strong image in offering health care services.
Competitive strategic moves- there is need to obtain info about strategy. It can be stated that
rivals are providing services at low cost.
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Industry key success factors- the key success factor in this is high long term growth. It is because
in future people will require health care services at home. This is because of change in their
lifestyle. Also, there are vast growth opportunity in health care industry.
Industry profitability prospects- there is high attractiveness in this industry. It is due to change in
lifestyle of people.
SWOT Analysis
Strengths: One of the main strengths of Care agency Ltd. is that it helps in providing 24*7
support to workers and care hones even at night time and on weekends as well. It is an
employee-oriented organization as they provide an opportunity to its workers so that they can
choose to work at same place if they want. Their training program to train young as well as
senior nurses is another one of their main strength so that overall quality of service provided by
nurses is not compromised. They provide special training to senior nurses who have good
knowledge of law and procedures.
Weaknesses: As Care agency Ltd. are new entrant in the market so their brand awareness is less
and current competition in the market is tough. It is one of their main weakness.
Opportunity: Today availability of nurses who specialises in a particular area is a bit difficulty.
Care agency Ltd. can focus upon training nurses for a particular specialized field such as
dementia care, cancer care etc. They can focus upon providing special specialization training to
senior nurses who are experience and have great knowledge of law and have very good
experience can be trained for the same. This will directly help in expanding their business
opportunity and will further help them in competing with their existing competitors.
Threats: Due to advancement in technology today large care agencies are focusing upon using
robotic technology for nursing homes, residential homes etc. in lower cost. It is a threat to Care
agency Ltd.
Industry Statistics
Industry statistics provide information on economic activity. It helps in reading industry
statistics in order to understand current statistics of that sector. Latest healthcare and nursing
statistics clearly helps in understanding that it is the fastest growing industry. This industry is
known for providing highest possible care to patients all around the world. In current pandemic
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situation of Covid-19 need and requirement of nurses has increased drastically but it was
observed that there was shortage of nurses in both hospitals and care homes.
Above graph clealry helps in understanding that there are not enough registered nurses to
handle the surge of Covid-19. Not only Covid-19 there had always been a shortage of experieced
and employed nurses. This industry statistics cleary helps in understanding that there is an
opportunty of Care Agency LTD. for establishing themselves and expanding their busienss by
provding their service of providing qualified nurse and care staff to nursing homes, residentials
homes, hospitals, private complex who requires qualified staff.
Product/ Service description
Service provided by Care agency Ltd. is of providing qualified nurse and care staff to
nursing homes, residentials homes, hospitals, private complex who requires qualified staff. They
provide training to their nurses so that required skills that are required or providing care to
service users be provided and high quality of care can be maintained. They provide qualified and
experienced nurses to nursing homes, residentials homes etc. as per their need and requirement
i.e. if they require an experience nurses or nurse who species in a particular field then Care home
Ltd. provide those nurses to care homes as per their need and requirement.
Ansoff Matrix
This matrix help in plotting products and services of organization against market in which
they are sold (Sukma, Lubis and Utami, 2019). There are four possible strategies that can be used
by care agency Ltd. for providing their service to their target customers that are: Market
development in which existing product/service is sold in new market, Diversification in which
new product/service is sold in new market, Market penetration in which existing product or
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service is sold in existing market and last is product development in which new product/service
is sold in existing market.
As per the Ansoff matrix Care Agency Ltd. will be introducing providing nurses service
through market penetration method in which they will be providing existing service to exciting
market.
Value proposition/ Unique selling point
Value proposition is referred to a value that an organization promise to deliver to their
customers when they choose their products and services. Nursing homes, residentials homes,
hospitals, private complex would choose care Agency Ltd. services because of 24 hrs support,
possibility of working on same place and time to time Training provision of nurses. It is also
their Unique selling point which will help them to attract their target audience
It can be explained with the help of Value proposition framework in an appropriate
manner.
Customer profile:
 Gains: they provide 24*7 hours assistance 7 days a well. It is one of the main benefit that
they will be providing to their customers. Today most of the nursing homes or residential
care homes etc. have requirement of nurses especially at night or on weekends and due to
this, they expect care agencies to provide them support and service of providing nurses on
weekends and sometimes at night times but there are extremely low number of agencies who
provide these services. this benefit will be provided by care Agency Ltd.
 Pains: due to lack of availability of nurses on weekends many time nursing homes face
difficulty in getting their job done. This pain will be reduced by Care Agency Ltd.
 Customer Job: Nursing homes, residential homes, hospitals etc. require individuals who can
monitor overall health of patients, provide them with excellent care and support
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Value map:
 Provision of qualified nurse and care staff for 24*7 can directly help Care Agency ltd. to
create customer gains
 This service will alleviate customer pains as it will make availability of nurses on weekends
and on night as well.
Competitor analysis and competitive advantage
Competitor analysis helps an organization in identifying their main competitors who can
give tough competition to them (Shadman and et. al., 2021). Competitor analysis further helps an
organization to identify changes that their need to bring within their business operations and
strategies so that they can sustain within the tough competitive marketing environment (Caber,
Albayrak and İsmayıllı, 2017). There are various kinds of frameworks that can be used for
analysing competition for Care Agency LTD. like Porters five force analysis model. This model
helps in analysing five main forces that can become a threat for an organization and affect their
competitive advantage, these five forces are as follows:
Threat of new entrant: Threat of this force is moderate. Nowadays need of nursing homes,
residential care homes, hospitals etc. is increasing because of which need and demand of nurses
is also increasing due to this various nursing agencies are opening that provides nursing a
support to nursing care, residential care homes etc. But opening a nursing Agency that provides
nursing support require huge investment, and experience which makes it difficult for new
entrants to enter into this market.
Bargaining power of suppliers: Threat of this factor is high this is because suppliers in this field
are low in number due to which their power increases (Yang, 2020). Due to this, power of
suppliers in this field increases as Care Agency LTD is a new start-up they will have to pay a
good amount to Suppliers for high quality products so that they can training their nurses in an
accurate manner and provide nursing support to nursing care homes, residential care homes,
hospitals etc.
Bargaining power of buyers: Threat of this force is moderate this is because there are various
kinds of agencies that can easily provide nurses support to organizations due to which nursing
homes etc. have many options to select their service but there are limited number of agencies that
provide 24*7 hours nursing support and even on weekends due to which bargaining power of
buyers becomes moderate.
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Threat of substitute products: Threat of this factor is high because there are many organizations
that provide nursing support to residential care homes etc. easily with fully experienced nurses.
Due to this, it becomes extremely important for Care Agency LTD to provide some unique
service and facilities to their buyers.
Rivalry against existing firms: Threat of this factor is also high because there is intense
competition among existing players who provide nursing support with highly experienced nurses
to hospitals etc. Due to this it becomes important for Care Agency LTD to provide unique and
additional services to their customers.
Care Agency LTD provide 24 hours nursing support for 7 days a week including holidays
is a unique and special service that they provide to their customers that can help them in gaining
competitive advantage.
Sales and Marketing Strategy
4 P’s Marketing mix
Marketing mix is a tool which is used by organizations for promotion of their brand and
to reach their target audience (Towbin and et. al., 2018). It can said that 4 P’s of marketing mix
helps in development of marketing strategy so that organization can reach their target audience
though proper brand promotion and products and services marketing. 4 P’s of marketing mix are
as follows:
Product: Service provided by Care Agency LTD is to provide qualified nurses and care staff to
nursing homes, residentials homes, hospitals, private complex who requires qualified staff. They
provide their service for 24 hours on both week days and on weekends and even on holidays as
well.
Price: Pricing strategy adopted buy Care Agency LTD is competitive pricing strategy i.e. they
will be charging based upon what competitors charge but for weekends, holidays and odd hours
service they have adopted premium pricing strategy i.e. they will be charging extra for weekends
and odd hours service.
Place: For making nursing and care service easily available to nursing homes, residentials
homes, hospitals, private complex etc. they provide 24*7 hours support. They will also provide
senior experienced nurses as trainer so that newly joined nurses and care workers can be
provided with effective training.
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Promotion: For promotion of their business and for marketing of their service Care Agency LTD
will be adopting modern marketing tactics though digital tools such as: they will develop their
own responsive website where all the details about their services will be provided and even if
anyone wants to avail their services then they can apply for those services online on their
website. They will also focus upon social media marketing on top social media platforms such as
Facebook, Instagram, Twitter, LinkedIn and many more.
Segmentation Analysis
Political: Health and social care is one of those sectors upon which government is spending a lot
because of which tax policies changes (Kapoor, Tan-Koi, and Teo, 2016). As a result,
government policies are also changing. Due to these changes Care agency Ltd. need to focus
upon reviewing and updating their policies, plans, subsidiaries, and bills from time to time.
Economical: Inflation rate, unemployment and interest rate are few main economic factors that
can impact Care agency Ltd. in both positive and negative manner. Due to these economic
factors spending of disposable income of public can get impacted. If unemployment rate is
increased then nursing care homes will not have much people who will be readily spend on
services of these care homes. Likewise increase in interest rate can fail investors of Care agency
Ltd.
Social: Care agency Ltd. rely upon understanding of change in demographics and public values
(Caber, Albayrak and İsmayıllı, 2017). If nursing homes or residential care homes are not aware
of these norms and conditions then it can create problem because these conditions and norms
helps such organizations identifying ways in which they need to treat patients. It is also
important for Care agency Ltd. because it will help them in identifying what sort of training,
they need to provide to nurses so that their behaviour and treatment towards patients is up to the
mark.
Technological: Care agencies are today required to focus upon advancement in technology and
changes in ways in which technology is being used for providing care (Kapoor, Tan-Koi, and
Teo, 2016). They also need to provide training to their nurses so that they can easily work with
advance technology such that their overall quality of care is not being impacted.
Legal: legislation and legal framework related to health and social care industry are not robust
and a bit strict and cannot protect intellectual property of organizations in this sector (Kapoor,
Tan-Koi, and Teo, 2016). Before entering into this industry, it is important for Care agency Ltd.
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to understand and get complete knowledge of legal framework and legislation because if they
break any kind of law or do not follow any kind of legislation then it will directly impact upon
their operations and can also led them to fae legal consequences.
Environmental: Today most of the countries have their own environmental standards which is
required to be followed by each and every organization. Not following those standards can led an
organization to face severe consequence. So, Care agency Ltd. should so complete research and
evaluate environmental standards that are required to be followed by them in order to survive in
the market. UK has its own environmental lows and liability laws which is required to be
followed by Care agency Ltd. in a proper manner
Launch marketing strategy
Launch strategies are those strategy that are used by organization for launching new products or
services of the business. Service launch strategy for this Care Agency LTD have been explained
below:
 Purpose: purpose of this strategy is to identify ways in which new service of providing
qualified nurse and care staff to nursing homes, residentials homes, hospitals, private
complex who requires qualified staff. By Care Agency LTD can be launched into the market.
 Marketing: For marketing of this servicers various social media influences were will be
hired, marketing of this service will be done on internet though digital marketing, and
television as well .
 Marketing launch: KPI matrix will be set in understood evaluate success of marketing. Other
than this in order to evaluate success of social media marketing google analytics will be used.
 Lead generation: promotional events will be organized so that awareness of this new services
provided by Care Agency among hospitals, care homes etc. can be generated.
Core growth strategy
Core growth strategies are those strategy that are specifically designed to get business
moving (Baena, 2019). It helps in identifying what is required to be addressed in business so that
any kind of issues within business can be addressed easily. Main core growth strategy of Care
Agency LTD is to increase their revenue by 10 percent in first year and develop a customized
dashboard that will help in providing KPI and all the other measurables that can help in
measuring overall performance of business.
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Resources required and sources of finance
Resources required:
 financial resources for funding this business and for providing proper training to nurses
 Human resource for management of internal and external functions of business such as
marketing, accounting, training, HR etc.
 Educational resources for understanding competition in the market, needs and requirement of
target customers. For this care Agency can have research and development team
 Physical resources for its operations such as work space, training place, information system
etc.
Sources of finance: For this business Anger investors financial source will be focused upon by
identifying leaders of this healthcare sector who will readily invest in Care Agency LTD.
Marketing communication mix
There are few main elements in marketing communication mix that have been explained below:
Advertising: Care Agency LTD will be using digital and social medial marketing for advertising
their service.
Sales promotion: for promotion of sales they will be offering price reduction for their services
so that more number of target customers opt for their service.
Direct marketing: they will directly communicating with their customers withier through their
website or though emails.
PR: for public relationship they will be focusing upon fundraising so that more high quality
services can be provided to their customers in even lower prices.
Marketing expansion and development strategy
For market expansion market development strategy as the services provided by them is
already been introduced by them but will introduce this service to new target market. For
development of market operational plan has been developed and explained below.
Operations plan
In order to start a new business it is extremely important to develop an operational plan
that can help in understanding who are the main in charge of completing complex operations,
what each department is responsible for, where daily operations will be taking place, how much
cost each department require to complete their goals and task. Operational plan of Care Agency
LTD is:
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