Healthy Wealthy: Business Plan for Healthcare Startup in London

This report details a business plan for a healthcare startup, Healthy Wealthy, aimed at providing health-related gadgets and services in the London market. It covers the business idea, industry profile, and a business model focused on offering technological health gadgets and nutritional diet consultations. The report explores the company's points of differentiation, challenges faced by the startup, and the targeted customer base. It includes a marketing plan, competitor analysis, and discusses potential funding sources and intellectual property protection. The report concludes with a summary of the key findings and recommendations for the startup's success, considering the challenges of the healthcare market and the importance of innovation and entrepreneurship for strategic growth. The report includes an executive summary and table of contents to provide a comprehensive overview of the business plan.

Innovation and
Entrepreneurship
EXECUTIVE SUMMARY
This report is based on innovation as well as entrepreneurship which refers in carrying
out new business plan for beginning a new business startup in healthcare sector. This Report
determines a business plan for a startup healthcare service provider company healthy wealthy in
London markets that determines about business idea for performing up startup with various

business models that refers in product as well as services along their differentiation points that
determines its uniqueness from various competitive. There is also a challenge which are explain
that is faced by startup in performing their business idea performing market plan with a proper
funding source. Also there is an explanation of intellectual property which could be helpful in
prevention of business idea as well as plan from being loss of data and being copied.

Table of Contents
Contents
EXECUTIVE SUMMARY.............................................................................................................1
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Business idea..............................................................................................................................1
Industry profile.........................................................................................................................2
Business model...........................................................................................................................2
Point of differentiation..............................................................................................................3
Challenges to business idea......................................................................................................3
Prospective targeted customers...............................................................................................4
Marketing plan..........................................................................................................................4
Competitors analysis.................................................................................................................5
Sources of funding.....................................................................................................................5
Intellectual property.................................................................................................................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................8

INTRODUCTION
Innovation could be defined as and practical usage of different ideas that results in entering
new services as well as products for enhancement in companies offer in terms of product as well
as services. While entrepreneurship could be referred as an ability e along-with readiness in
order to develop, carry as well as organise a business start-up with recent uncertainty in markets
in order to have profits (Malecki,2018). This report based is based on innovation and
entrepreneurship business plan to perform a business start-up which is healthy wealthy that is
health related gadgets providing startup in London. This report includes business idea of startup,
company profile, business model, differentiation points, Issues to business idea, targeted
customers, marketing plan, analysis of competitor, funding sources, intellectual property along
with its conclusion.
MAIN BODY
Business idea
As business startup healthy wealthy is carried in London which offers different health
related gadgets which includes Fitbit watches, smart watches that measures heartbeat blood
pressure and other healthcare equipment to customers (Zahra, 2021). As startup is basically
related to healthcare sector in which company is providing different health related technological
gadgets that more customers could be able to avail its services for being healthy. Along with that
startup is providing a diet nutritious balance diet to their customers according to customer's
requirement. As startup is providing high quality and skilled workforce by which customer could
be attended in an effective manner and could be consulted. There is different electronic gadget
that are provided to customer on their choices along with that startup is providing a
customisation service according to customer’s choice in terms of their display. As startup is
performed out in London it generally focusses on customers of London to attract them.
Industry profile
In recent market healthcare sector is on higher demand. Many of persons living in London
generally refers a healthy life and for that they are using various measures to keep them healthy
as well as active (Sołtysik, Urbaniec and Wojnarowska, 2019). There is a high demand for health
care equipment that makes customer measure their health within easy manner without going to
doctor and consult about it. In order to run business idea of startup healthy wealthy which is a
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healthcare startup in London. As this startup will prove to be a profitable business that could
generate most of revenues from customers living in London that are health conscious. According
to various market trends it has been evaluated that health sector is having high market economy
growth in business market as well as for starting up a business venture in nutritional factor could
lead to generate more profits as well as revenues for startup (Androutsos and Brinia, 2019).
There is higher demand of health nutritious equipment this could be avail by customers with an
is in order to maintain their physic as well as health. This innovative business venture help
startup to perform business operation with effectiveness in market by growing profits.
Business model
Business model could be defined as plan of company which is used by them in order to
make profits. It generally identifies different product as well as services which startup desire to
sell them in corporate market with a business plan by identifying target markets as well as
wearing expenditures (Grabara, Hussain and Szajt, 2020). Business model is considered to be an
important component for establishing a business venture. In terms of healthy wealthy startups
business model could be defined to a plan for creation of a profitable venture which is healthcare
Company. Business model could be beneficial for startup in terms of providing various health
nutritious technological gadgets which could help customers to determine their health in terms of
blood pressure, their weight, pulse rate and so on in order to keep them healthy. As business
model of startup venture for their business plan should include various equipment products in
terms of gadgets which they are providing to customers along with service of providing
consultancy of balanced diet are provided with the value proposition. generally, identifies model
where different product as well as services are provided to customers are listed.
Point of differentiation
For Running a new startup efficiently it is essential for company to have something
creative which could compare their startup from various competitors that are present in markets
of London. It is important for business startup to have different differentiation points that could
help them in increasing customers by generating out wide reach for having more profits. In terms
of startup healthy wealthy is comparing themselves in terms of their provided services as well as
equipment gadgets offerings (Jiao and Li, 2021). As for carrying out business plan in startup Is
providing technological health related gadgets to customers according to their needs in terms of
customisation of display that could help them in maintaining their health in an effective manner.
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Along with that startup is providing a service of Free consultancy of nutritious diet for customers
of London who are aged as well as young generation. As startup is providing their equipment
gadgets which could help customers in determining their pulse rate, heartbeat, pressure and
various other things on different discounts as well as offers for being their regular customers in
terms of availing their nutrition diet for following them in order to make more customers.
Challenges to business idea
While performing out business startup idea in healthcare sector there are various challenges
carrying out their work activities. As issues in area in performing out entrepreneurial operations
in healthcare sector as a nutritious company. In terms of healthy wealthy startup various issues
and challenges that could affect idea of business are as follows:
 There is a high concern in hand knitting advanced help technology that could create as a
challenge to health care service providers as sometimes technology could be misjudged
that could create a barrier in carrying out technological gadgets business operation for
providing to customers (Turulja and Bajgoric, 2020).
 There is a risk of cyber security as sometimes technological gadgets could lead to have
loss in their data and information as these it requires some kind of information of
customers in order to process them in a proper manner.
 As healthcare regulatory it keeps on changing on certain periods of time which could
create as a barrier and termed as a challenge for healthcare service provided companies to
carry their operations effectively.
 As there is a shortage in healthcare staffing services which could be considered as
challenge for healthcare service provider company. As in order to consult and provide a
nutritious balanced diet it is necessary for individual to be skilled in that field and
sometimes it becomes difficult for individual to carry on this field.
Prospective targeted customers
For running startup efficiently it is important for or leaders of startup to target right
customers so that they could be capable to pitch them for building more customers. In terms of
healthy wealthy startup targeted customers for their healthcare service provider company is of
aged individuals who are suffering from health related problems as well as young generation
individuals who are health conscious towards their health and well-being (Wang, Chang and
Huang, 2020). As by using young customers as well as aged customers in order to carry startup
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effectively it will help in providing better health care services. As young generation customers
could help in building more customers in terms of sharing their reviews as well as providing
them feedback for having enhancement it in their equipped gadget and their services which they
are providing to customers along with maintaining a quality services that could be provided to
them.
Marketing plan
Marketing plan is defined to an operational document that identifies various advertising
policies as well as strategies that could be used by startups in order to use them for building more
customers in their target markets. Marketing plan of business idea could be performed through
carrying out 4 Ps of marketing. In terms of healthy wealthy startup which is positioned in
London market is carried through by determining its marketing mix that are as follows:
 Product: This P of marketing plan in business idea is associated with providing
electronic health associated gadgets which offers in providing a measure of blood
pressure, heart beat, pulse rate and various other things of customers in order to keep
them healthy.
 Place: This P of marketing plan identifies about where customer could purchase their
product of startup as well as services (Elia and Margherita, 2018). In terms of business
idea of healthy wealthy startup customer could avail its services by their health care
service centres stores in London.
 Price: This P of marketing mix is associated with pricing of electronic gadgets that
provide healthcare services to customers. In terms of performing out startup healthy
wealthy Price of their technological healthcare gadgets is based on their delivery of
products as well as their necessity of customers according to their customisation.
 Promotion: This P of marketing plan is defined in promoting startups healthcare service
provider’s gadgets which could help customers in maintaining their health. In terms of
startup healthy wealthy promotion technique could be used by healthcare service provider
could be done through distributing pamplets as well as advertising.
Competitors analysis
It is essential for startup to identify its competition which is present in market that could
create a barrier in carrying out business operations in an effective manner. In terms of startup
healthy valley health care service provider could determine its competitors on constant basis
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which they are providing to customers in London market (Cohen, 2018). As different
competitors which carries business practices of providing healthcare technological gadgets to
young generation as well as aged customers could create a challenge for startup to perform their
work operations effectively. Competitors such as cure fit as well as eye netra Is considered as to
be most effective competitors of startup which could affect business activities. As these
competencies are present already in London markets that could affect startups marketing
operations.
Sources of funding
There are various sources of finance which could be implemented by startup in order to
perform its venture effectively. As startup could take various sources of finance such as from
external as well as internal for having funds for their startup business. In terms of startup healthy
wealthy different sources of funds which could be used by startup are as follows:
 Bank loan: This source of finance is considered as a long run finance source which could
be e used by startup specifically for running out business. This source of finance is
required by some security in terms of laws which could be provided (Selznick, and
Mayhew, 2018). As in relation with healthy wealthy startup could bring funds from
taking loans from Bank as well as providing security for building loan amount for a
particular period of time.
 Business angels: It is said to be professional investor which invest some particular
amount of money in startup businesses. By using help of startup in health care services it
could acquire funds from them in order to begin their business operations. As investors
provides help in terms of startup. In terms of healthy wealthy startup could borrow funds
from business Angels in terms of investing their money in healthcare sector.
Intellectual property
Intellectual property is basically used by different businesses of startup for preventing their
business idea. It is defined to a creation of mind in terms of invention for preventing their names
along with symbols. In running out business successfully it is essential for new startups to protect
their business idea so that it will not be copied from other competitors. In order to prevent
methods of business plan in idea intellectual property Rights could be used by startup for
preventing their business idea as well as plan (Tunali and Sener, 2019). In terms of startup
healthy wealthy for performing their startup business operation they could use patents for their
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electronic gadgets which provides healthcare facilities along with that startup could use various
copyrights of their healthcare gadgets which could provide various measures to measure health
related problems by customers in terms of patents and copyrights that could not be copied by
different competitors in order to create a barrier for business startup effectively as well as
increasing profitability by generating revenues in London markets.
CONCLUSION
From above report it could be concluded that innovation is considered to be an important
element which is used by companies in order to renew their product and services to carry out
their business practices along with that entrepreneurship as well considered to be an essential
element for carrying out a business practice. This report is based on a business plan for having a
new innovative entrepreneurial startup. It explains about idea of business which is providing
healthcare technological gadgets to customers. This report briefly explains about startup profile
with business model which is being used in startup business plan along with differentiation
points which compare about company e along with different issues that could be faced by them
to carry their business practice effectively. It also carries an explanation of customers that are to
be targeted for carrying out their business bye by analysing its competitors. There is also
explanation of funding sources along with intellectual property which are to be explained in
business plan.
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REFERENCES
Books and Journals
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innovation, collaboration, and co-creation in secondary education based on design
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Cohen, B., 2018. Post-capitalist Entrepreneurship: Startups for the 99%. CRC Press.
Elia, G. and Margherita, A., 2018. Assessing the maturity of crowdventuring for corporate
entrepreneurship. Business Horizons .61 (2). pp.271-283.
Grabara, J., Hussain, H.I. and Szajt, M., 2020. Sustainable University Development through
Sustainable Human Resources and Corporate Entrepreneurship: The Role of Sustainable
Innovation and Work Environment. Amfiteatru Economic .22 (54). pp.480-495.
Jiao, L. and Li, H., 2021, February. Research on Innovation and Entrepreneurship Education for
Accounting Majors in Higher Vocational Colleges based on the Analysis of Big Data
from the Perspective of Resource Synergy. In Journal of Physics: Conference
Series (Vol. 1744, No. 3, p. 032143). IOP Publishing.
Malecki, E.J., 2018. Entrepreneurship and entrepreneurial ecosystems. Geography compass .12
(3). p.e12359.
Selznick, B.S. and Mayhew, M.J., 2018. Measuring undergraduates’ innovation
capacities. Research in Higher Education .59 (6). pp.744-764.
Sołtysik, M., Urbaniec, M. and Wojnarowska, M., 2019. Innovation for sustainable
entrepreneurship: empirical evidence from the bioeconomy sector in
Poland. Administrative Sciences .9 (3). p.50.
Tunali, C.B. and Sener, S., 2019. The determinants of entrepreneurship in Turkey. Procedia
Computer Science .158. pp.648-652.
Turulja, L. and Bajgoric, N., 2020. Innovation as a mediator between knowledge management
and organisational performance: Knowledge acquisition, knowledge application, and
innovation towards the ability to adapt to change. In Knowledge Management,
Innovation, and Entrepreneurship in a Changing World (pp. 46-68). IGI Global.
Wang, B., Chang, J. and Huang, S., 2020, September. College Students' Innovation and
Entrepreneurship, Government Driven and the Effect Evaluation of the Policy System.
In 2020 The 4th International Conference on Digital Technology in Education (pp. 10-
14).
Zahra, S.A., 2021. International entrepreneurship in the post Covid world. Journal of World
Business .56 (1). p.101143.
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