HomeOsteo: Business Opportunity and Market Analysis Report

This report details the development of the HomeOsteo business, an osteopathy service provider, as part of an entrepreneurial module. The report outlines the problem identification, focusing on musculoskeletal issues and back pain, and presents the idea formation for a mobile application offering in-home treatments. It analyzes the business environment, including political, social, technological, and legal factors, and assesses industrial attractiveness, considering suppliers and substitute threats. The report also highlights opportunities in the growing market for health services and identifies potential threats, along with a contingency plan for risks associated with therapists. Furthermore, it explores market size, segmentation, cost analysis, and the value proposition canvas model. The report concludes with a marketing plan and references, providing a comprehensive overview of the business strategy and its potential for expansion, particularly within Europe.

Development

Table of Contents
INTRODUCTION...........................................................................................................................3
Problem Identification.................................................................................................................3
Idea formation..................................................................................................................................3
Environment Assessment............................................................................................................4
Industrial Attractiveness..............................................................................................................6
Opportunities...............................................................................................................................6
Threats.........................................................................................................................................7
Contingency plan for risk............................................................................................................7
Venture development.......................................................................................................................8
Market Size and Segmentation of Customer ..............................................................................9
Cost Analysis..............................................................................................................................9
Value Proposition Canvas Model..............................................................................................10
Marketing Plan .........................................................................................................................11
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
As part of an assignment for my entrepreneurial module in university, i was assigned to
develop a business opportunity together with my team. After giving a group presentation in class,
teacher instructed me to provide a detailed report of the taken business. I am the the Co-founder
of the business taken by me. We chose this business idea based on some group discussions and
research. The people in this modern world are facing various musculoskeletal problems due to
which they could not perform their daily work properly. The business idea of HomeOsteo
business is chosen for providing the osteopathy services to the users. Through the services of
business, people can get the treatment for their musculoskeletal problems at home instead of
going outside. This report will cover the idea formation for the taken company as well as to
expand the business operations in Europe. This report includes the issues related to therapists and
also focus on how this can be resolved in the long run. This also keep eye on the SWOT, Pestle
and Porter's Five force Model which highlights the strengths and opportunities of a business and
how can the firm use this as a successful tools to sustain in the market.
Problem Identification
My business idea was formed for resolving the issues of people which arise due to the
increasing problems of musculoskeletal problems. Back ache is one of the main health issue
which is faced by the individuals with in the UK and Europe which is impacting their mental as
well as physical health. More than 540 million people are suffering from the back pain which is a
common problem among individuals throughout the world (Chang and Wyszomirski, 2015).
The risks associated with the back pain among the individuals has increased to 12% among the
previous 20 years. So the organisations needs to determine the effective solution for this problem
in order to deal with such situations effectively. Due to these problems, I along with my group
choose this idea of HomeOsteo app.
Idea formation
Idea formation is essential for the firms in order to determine the proper solution for the
issues faced by the people. My business i.e. HomeOsteo app is providing treatment to the people
for health problems such as Back pain, musculoskeletal problems etc. For these problems, below
discussed are some suggestions for these problems:

Spread awareness: Educate general public about the benefits of the therapy regarding
back pain, muscular pain etc. as this type of pain is more common in female as compared to male
customers. Back pain is more commonly found in the age group of 45 to 64 years of age. My
business HomeOsteo can have certain sessions regarding the therapy and can convince them how
important is this therapy at this level of age (Acs, Szerb and Autio, 2015). As more widely
working or home-maker women are suffering more so certain video and drama or through act it
can be explained to women that how effective is the therapy for their body ache.
Give up Orthodox believes: At this age group people believes that its the pain due to the
age they are gaining. In other words it can be said that the pain customers are going through are
because of the old age. The mind sets of the customers need to be changed for the betterment of
their living standards. In this case certain cases of this believes can be highlighted in the sessions
or in the seminars so that they can change their mind sets to modern ways. This will help my
firm HomeOsteo to attract customers towards their product (Adekiya and Ibrahim, 2016).
As a Co-Founder, The reason for selecting these ideas is to further think about some new
ideas so that the problem of back pain can be addressed properly. Mobile application is an
effective idea for resolving these problems. This idea of application is taken from the successful
businesses such as Deliveroo and Uber Eats which is a suitable idea for my firm.
Environment Assessment
Assessment of various environmental factors is essential for my business in determining
the issues which can faced by the company. Some of these factors which can influence the
business operations of my company are discussed below:
Political Factors: These factors are related with the political situations such government
policies, guidelines, stability, etc., which can impact the business in performing its operations.
Due the Brexit, Europe and UK are not politically stable. Politically stability is essential for my
business in expanding its services to a new country. The main issue which can be faced by my
organisation is of the business model which is decided by the company due to the change in
membership structure after Brexit (Brexit impact on east europe, 2019). This uncertainty can
become a major issue for my business as it can negatively impact the business.
Social factor: Social factor includes attitude, behaviour and nature of the people towards
the product or service. In the era of 21st century customers are more concerned about their health
and are frequently switching to something more effective and which provides better results.

Therapy provided by my business will help patients to provide relaxation to their body and
reduces stress level through which they can live life in better way. Customers does complete
research regarding the services offered to them so that customers are not exploited (Audretsch,
Belitski and Desai, 2015). But the main issue which could be face by me is inconsistency of the
customers and price fluctuations. Customers are more attracted to the service provider who
charge less as compare to competitors. So to win the market, I should try to fluctuate the prices
according to the external environment as then only it would be possible for me to compete with
the market.
Technological Factors: These factors are associated with the technological
advancements which can impact the business operations of a company. It is highly essential for
my business HomeOsteo to implement the updated technology in the business operations as well
as to treat the patients with updated tools and methods in order to stay technologically ahead.
Currently my business is being operated by a mobile application so that customers can use the
app any time (Biryukov and et. al., 2015). I need to analyse the various changes in the
technology so that the app can be developed based on the changes which can support my firm in
getting the desired growth.
I should analyse these various factors so as to develop the application in proper manner in
order to ensure the success in future time period. I have to design the app in such a manner which
can enhances its effectiveness. Moreover, my main motto is to make the application suitable and
compatible with every type of electronic devices so that every potential customers would be able
to use it.
Legal Factors
There are associated with the various rules and regulation which are implemented by the
government. The government has implemented several laws for mobile application such as Data
protection act, equality act etc. which must be followed by the business firms. My business i.e.
HomeOsteo is following the data protection act of UK government for ensuring the safety and
privacy of the patients while they are using the application. As it is illegal to share information
with the third part user without getting consent of the individual (Blackburn, 2016). Also the
business is following the equality act and fair compensation act of UK government in order to
ensure that the employees are getting the salary which is decided by the government without any
discrimination based on race, caste, gender, etc.

Industrial Attractiveness
My business needs to analyse the industrial attractiveness in order to stay ahead of the
competition for getting a higher competitive position. There are various elements which can be
used by my business HomeOsteo App for maintaining their position in the market in order to
sustain for a long period of time in market. These elements are discussed below:
Bargaining Power of Suppliers: Suppliers are the people or firms who provides raw
materials or resources to the organisation for developing their idea into reality. They are one of
the important stakeholders in our business as if services is not provided by them on time then
chances of getting losses would be high, moreover, customer experience engagement would also
becomes low. For my company, suppliers are the IT companies who makes software and service
providers for my personal application and website. There are large number of companies in the
UK which provides services which I needed from them like Willow Tree, Hyperlink Info system,
Blue Label Labs etc (Mobile App Development Companies, 2019). Apart from this, there are
large number of freelancers also who are providing same services with low price as compare to
companies. So it can be said that bargaining power of suppliers is moderate in nature due to large
number of competitors.
Threat of substitute: Substitute product is the one which provides same satisfaction and
value proposition to as compare to existing product. So our App, HomeOsteo is the provider of
osteopathic problems and back aches which could be fatal if not treated timely. But on the other
side, there are various ways which could be the substitute of this like Yoga. It is one of the best
and cheapest way of removing any kind of back aches or joint pains (Best Yoga Poses for Back
Pain, 2019). Apart from this, there are large number of private and government owned clinic and
hospital who also provides same type of services to the patients. So it can be summarise that
threat of substitute for my App HomeOsteo is high in nature.
Opportunities
In the coming years customers are switching to modern techniques for better results. So
HomeOsteo has great opportunities to grow in the global market. Un-healthy habits are causing
back pain and muscular cramp etc. related issues in the customers. In the era of 21st century the
health related issues are more commonly seen and this therapy will be proved beneficial for the
customers (Cooper and Folta, 2017). It has been seen that due to the health issues in UK, 31

million work days are lost due to serious musculoskeletal problems. So my HomeOsteo app will
have emerging opportunities in the market.
Threats
As company is emerging in the global market there are certain threats in the markets
which are discussed as follows:
 Many other firms are entering in the market with various other therapies like, abortive
therapy, adjuvant therapy, alternative therapy, androgen replacement therapy.
 The prices pattern of my HomeOsteo is € 80.00 per hour for new customers. If the
competitor come up with less pricing policy it can be threat to my firm in the market.
 In my HomeOsteo app, customers will pay through the app. In this payment 30% will be
the part of the app and rest 70% will be going to the practitioner. If competitors comes up
with the changing ratio in the market then customers will have switching option and firm
can have a big threat to sustain in the market with this policy.
Contingency plan for risk
Risk Contingency plan Mitigation plan
Cannot control therapists
during the sessions
I can avoid this risk by
consulting with the other
therapists so that when the
working of a therapist gets
distracted or becomes low,
then I can assign his/her
responsibility to another
therapist who can perform the
assigned work properly
without any distraction from
other people.
In order to control the therapist
during the sessions, I needs to
monitor their work which can
be done by using the CCTV
cameras. Through this, I can
evaluate the efficiency of the
therapists so that suitable
precautions can be taken for
aligning their activities to their
work. Also I can provide the
appreciation or punishment to
the therapist so that they will
try hard not to get distracted
from other people in doing

their work.
Potential danger of entering
someone’s house
When the therapists leaves for
someone's house, I can stay in
touch with them regarding the
locality in which they are
treating the patients. One more
option is to contact the near
police or neighbours who can
check for the therapist if they
are not answering the call from
head office.
For avoiding this risk, I can
provide a GPS enabled security
system to the therapist in order
to track his location. If they
take more time at a single
place then someone from head
office can call them. If they did
not receive the call then the
head office can call to police.
Disloyalty of workers This risk can be avoided by
providing monetary and non-
monetary rewards to the
employees so that they can
stay motivated in their
working. Through this, they
can perform their work
properly in hope of getting the
rewards which will enable
them to attain their goals in
less amount of time. Also
through these rewards,
workers stay loyal towards the
organisation as they will take
interest in their working.
This risk can be mitigated by
resolving the issues and
conflicts of the employees.
Through this, the employees
will try to perform their roles
and responsibilities in proper
manner as their issues are
resolved. Also I can provide
rewards to employees based on
their performance so that they
can perform their work
properly in hope of getting the
rewards.

Venture development
After determining the external market, attractiveness of idea, risks related with service
delievery and planning for mitigation. As a CEO next step for development of My HomeOsteo
Application and Website.
Market Size and Segmentation of Customer
Back pain is a common problem which is spread globally and occurs from several
functions like no physical fitness, long working hours, handling of heavy things, slip disks etc.
As per the global market statistics, results are very impressive such as 1 out of 10 is suffering
from back pain issues which can provide beneficial outcomes towards My HomeOsteo
Application and Website (More than 1 in 10 worldwide suffer lower back pain, 2019).
As company have huge market therefore, it is essential for the Managers to identify the
target market on which these services would be delivered. Segmentation of customers in the
market are given as under:
 Management of organisation is planning to target the customers who are living in Urban
areas of Europe
 Main targetted customers of organisation are women who would be aged between 43-70
years and can be belong from middle, upper middle and upper class groups.
 Customers who will be targetted by the firms are those who are suffering from back-pain
and are habitual of using internet for booking products or services.
Cost Analysis
Cost of creation of Application and Website:
Particulars Amount (£)
Contribution from Founder 1 20,000
Contribution from Founder 2 20,000
Contribution From Founder 3 20,000
Loan from Bank 15,000
TOTAL 75,000
Each founder should have to contribute in equal manner so that development of
application and website can be done in easy manner. Application and website development

includes purchasing of software, development of interface, allocation of resources etc.
Management should take also loan from Bank of the amount of £5,000 so that all testing would
be performed in easy manner.
Cost of Services:
Particulars Amount (£)
New Patients 70.00 per 45 minutes
Existing Patients 80.00 per hour
Amount which have arranged by the founders as loan would be categorised in the ratio of
7:3 in which 70% of amount will be received by practitioners and remaining 30% will be
acquired through application and website.
Value Proposition Canvas Model
Illustration 1: Value Proposition Canvas Model

The canvas model is used to define the various range and benefits of the HomeOsteo app.
As with the help of this the needs, wants and fears of the customer's can be easily known and
plans to overcome can be made. There are various positive aspects of using the app as it will help
in decreasing the risk and will help the patient in receiving appropriate quality of treatment and
other benefits can also be received by using the application or website.
Marketing Plan
Marketing of the product or service is very much necessary because with the help of this
the unique features of the product can be known. Proper marketing plan will make the product
different from its competitors in the market. Since the application and website of HomeOsteo
provides speedy recovery and quality of treatments to the patients. So to maintain this
organisation can recruit employee's from various osteopathic schools of UK.
The marketing plan of the application will majorly depend upon the digital marketing
theories and aspects. Various activities can be used by the organisation to achieve the goals in
the effective manner. Some among those activities are discussed below-
Creation of website: It is the very first step of the marketing plan which will be used for
the creating a website. As with the help of this website the customer's will get the idea about the
services and offers imposed by the organisation to attract large number of customer's. After the
creation of website the company will be able to enhance familiarity with its customer's in the best
possible manner.
Search engine optimisation: With the help of this step the online visibility of
HomeOsteo website will be increased. As with the help of this if the patient searches anything
related or similar to the product or company than the name will appear on top. So this will
directly help the organisation in increasing its presence in the market and changing the
preferences of the customer's.
Social marketing advertisement: Social media is considered as one of the best platform
for sharing necessary information to the clients and customer's. HomeOsteo can use social media
as a platform to make the customer's aware about the products and services of the organisation.
The various social platform can include- Facebook, YouTube, etc. as these are some of the main
websites through which customer's can be attracted. Organisation can also use push notification
to gain momentum in marketing.

Setting up KPI: This is the last step of marketing plan this involves deciding the Key
performance indicators for the business and its operations. As with the help of this effectiveness
in the marketing plan can be achieved. Some of the major Key performance indicators for
marketing of HomeOsteo application are discussed below-
 Total number of customer's using the services after visiting the website of the
organisation.
 Exact number of groups involved on the online platform of the organisation.
 Total number of likes and shares gained by the organisation from its content which is
present on the social media pages of the company.
CONCLUSION
From the above information it can be concluded that any business idea requires proper
innovation so that the needs of the customer's are satisfied and sale is increased. While working
on the project it is very necessary for the team to be innovative so that best solutions to the
problem is drawn. For introducing HomeOsteo application and website the organisation can be
proper analysis of the environment so that maximum benefit of the opportunities can be used.
Managing the team and conflict of the organisation was one of the difficult task for the team
members. So the team members of the organisation can be encouraged and motivated to give
better output. The management strategies can also be used to manage the work of the
organisation and to improve the performance of team members.