Medicstop Business Plan: Analyzing Online Medical Services Startup

This business plan details the concept for Medicstop, an online medical service startup. It includes an overview of the business, its value proposition, and a competitor analysis, specifically focusing on the Australian market. The plan identifies target customer segments and outlines key business obje...Read More

Running head: BUSINESS PLAN
Business Plan
Name of the Student:
Name of the University:
Author’s Note:

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Table of Contents
Introduction......................................................................................................................................3
Discussion........................................................................................................................................4
Business Details...........................................................................................................................4
Value Proposition........................................................................................................................5
Competitor Analysis....................................................................................................................6
Customer Segments and Targets.................................................................................................7
Hypothesis and Business Objectives...........................................................................................8
Conclusion.......................................................................................................................................9
References......................................................................................................................................10

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Medicstop
Owner: Tom Karman
Address Line: 56, Melbourne Down Street, 54784
Australia, Melbourne, 454525
Telephone: [phone]

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Fax: [phone]
E-Mail: [e-mail]
Introduction
The newly developed business plan would be in the field of Online Medical Services
whereby a new start-up would be formed up by the company aiming at providing medical
services to the consumers. The company would be starting up with its primary operations in the
field of Online Medical Services with its name as Medicstop and the logo of the company would
be 24*7 Medical Support. The company would be headquartered in Australia from where it
would be providing various business related services and online medical support on a global
basis as the business of the company primarily would be on an online basis. The operations of
the company would be solely based on providing medical services to the consumers, patients and
health enthusiast consumers who are interested to well know-how about the services of products
that can be used by them in their daily life (Landa, Lillehei and Wolter 2016). In terms of value
creation the company as such would not be having any high amount of capital expenditures that
needs to be spend for the purpose of carrying successful business operations of the company. The
company would be facing competition from the ongoing development and upcoming medical
services in global economies. The key target customers for the company would be medical
patients and heath consumers for whom the company would be having a wide range of medical
services available. The business objective of the company as outlined would be to achieve a
sustainable market penetration of the services offered thereby reflecting the growth of
organisations and the sustainable performance of the company in the long-term (Wagner 2019).

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Discussion
Business Details
The primary aim of the operations of the company would be to provide medical
assistance to the consumers in the field of general medical services required, general balanced
diet required or medical queries in terms of usage and benefits of the medical products can be
well given in a detailed manner by the medical experts available. The new start-up would be
acting as a business platforms for both the medical practitioners, medical advisors, doctors and
other health experts with the consumers (Qureshi, Saeed and Wasti 2016). The company would
be having a wide range of doctors and medical experts that would be helping the company in
gaining a wide range of consumer demand or queries. The company would be charging a
nominal sum of amount for the professional services provided by the company to the consumers
in relation to the various types of business services required. The amount that would be earned
by the company would be the key source for the company in terms of the revenue that would be
generated by the company which would be used by the company in meeting up various
operational expenses that the company intends to spend in the fiscal year (O’Donnell and Dahl-
Popolizio 2018).
The consumers would be having an option for creating an online profile in the website of
the company where they can contain and record important health related documents and policies
in order to better contain there reports. The consumers can create a better medical profile in the
website of the company where they can easily store with the help of cloud saving process that
would also allow the consumers access any medical history report at any time and place from the
website itself. Doctors and Medical Experts can undergo the health profile of the consumers

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along with medical records recorded in the profile in order to better understand and give medical
advice to the consumers in a more effective manner.
Value Proposition
The key value proposition that the company intends to provide is in the field of
technological advancement that would be connecting the medical experts with the consumers
with the help of Medicstop. The consumers would also be getting better advice by the experts
and with the help of the same consumers would be able to better assess the requirements and
help in terms of getting right medical products and services (McCready and Molls 2018). Quick
Response and Low Costs of Medical Services would be the key value proposition that the
company would be betting in order to increase the business operations and the customer base for
the company. On the other hand the Medical Profile Option would be acting as the key
component in value creation as the same would be allowing the doctors and medical practitioners
better asses and analyse the past health conditions. There are many online health services that are
available in the market that provides general medical related services. However, in the case of
Medicstop the company would be firstly assessing the medical profile of the consumers and then
would be providing better treatment and advice to the clients so that they are treated well
(Shields 2017). Companies operating in the Online Medical Field provide general medical
related services to the consumers that in turn may not be the best piece of advice for the
consumers. Finally, achieving a sustainable growth in the operations of the company is also one
of the key prime factor that the company would be aiming at in the long-term operational outlook
for the company.
It is well important that the company introduces various other methods and techniques
with the help of technological innovations and developments that would be helping the company

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in creating a sustainable long-term growth for the company (Cant 2016
). On the other hand, it is well important that the company intends to implement better
technological innovations in the operations of the company so that the same benefits the
company in the form of operational efficiency for the company. The company on the other hand,
should also account for the changing business condition thereby addressing the changing demand
and consumer behaviour and pattern in the context of business services that is offered by the
company.
Business Services of Medicstop

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Competitor Analysis
The company would be facing direct competition from the various online health
companies that are operating in the Australia like E-Health Choice, Health Direct, Health Record
and Health Engines are some of the key competitors that provides a similar kind of business
services. It is well important that the Medicstop Company provides some unique selling
proposition in order to grow its operations and market penetration of the various kinds of
business services and products offered. The wide range of medical experts, doctors and
practitioners available for the consumers with the lowest possible costs associated with the
services rendered would be the key selling point of the company (Katz 2018). Excellent
Customer Services in the field of better assessment of customer’s demand and prompt services
would be the key business objective for the company. However, with low pricing strategy also
the company would be generating significant amount of revenue with the help of advertisements
that would be done by health companies and entities. The Medicstop Company would also be
building an effective marketing strategy so that it is well able to reach out its target customers in
the due course of its expansion plan. The marketing strategy of the company should be such so
that it is well able to attract the attention of the customer about the unique kind of health services
provided and the associated benefits flowing from the same (Laakkonen 2017). It is important to
note that competition is almost found in each and every sector where the operations of the
company is based, however the same even helps the company in outperforming other by bringing
operational and management efficiency in the operations of the company with the help of
strategic management (Barton 2016).

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Customer Segments and Targets
The key consumer that the company would be targeting would be medical patients and
heath consumers for whom the company would be having a wide range of medical services
available. The operations of the company would be solely based on providing medical services to
the consumers, patients and health enthusiast consumers who are interested to well know-how
about the services of products that can be used by them in their daily life (Hofer 2016). It is well
expected that the company in the initial stage of operations would be capturing a significant
amount of customers and the growth of services of the company is expected to grow by around
10% on a yearly basis for the company. The increase in the market penetration of the services
offered by the company would be primarily by targeting medical patients and other consumers
who would be requiring the help of the desired health services (Byrnes 2019). The company
from the first year of operations only should be having their defined target in terms of meeting
the business objectives and increase in the business operations of the company. The management
of the company should be specific targets and plans so that it is well able to execute and analyse
the various operational achievements it needs to achieve in the due course of its operations in
order to outperform its competitors.
Hypothesis and Business Objectives
The financial plan for the company would be the key hypothesis that the company would
be drawing. It is well important that the company draws up the financial projections or the
hypothesis of the company thereby including various financial factors that would be affecting the
company in the defined trend period. The financial projections for the company would be in the
form of hypothesis whereby the company would be aiming at investigating various courses of
actions that could potentially influence the overall operations of the company.

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It is important that the new venture or the start-up having its own set of business
objective so that the same well guides the management of the company in successfully carrying
out the business operations of the company. The business objective would be capturing financial
sustainability in the business with the help of revenue consistency and growth in the business.
Capturing significant consumer base for the company in the due course of its operations and
trend period analysed for the company would be helping them increase the market penetration of
the various types of products and services of the company. Excellent Customer Services in the
field of better assessment of customer’s demand and prompt services would be the key business
objective for the company. Finally, achieving a sustainable growth in the operations of the
company is also one of the key prime factor that the company would be aiming at in the long-
term operational outlook for the company.
Conclusion
The analysis of the new venture capital Medicstop was done for the company whereby
the associated business factors and other operational outlook for the company were planned out.
The company would be operating as an Online Medical Start-Up Company and the personalised
services offered in the way of personalised profile creation option in the website of the company
would be the key selling point of the company. The company would be linking up with various
entities and organisation in order to earn consistent revenue for the company. On the other hand,
while analysing the competitive factors it was assumed that the same is comparatively high for
the company but the company had to overcome from the same with the help of strategic
management and active marketing strategies. The marketing strategies that would be developed
by the company should be aiming at creating an effective customer base for the company that

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would be helping the company in increasing the operations of the company. Finally, the
importance of financial sustainability in the business and the forecasting of financial statement of
the company would be helping the start-up company in gathering the financial sustainability of
the business.

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References
Barton, A., 2016. The Munch: An Integrated Business Plan.
Byrnes, M., 2019. Entrepreneurship in Marinas: Does a Business Plan Translate into a
Successful Business?.
Cant, M.C., 2016. Entrants and Winners of a Business Plan Competition: Does Marketing Media
Play a Role in Success?. Journal of Entrepreneurship Education, 19(2), p.98.
Hofer, C., 2016. The Evolution of Business Plans in International Business Plan Competitions.
In Models of Start-up Thinking and Action: Theoretical, Empirical and Pedagogical
Approaches (pp. 145-211). Emerald Group Publishing Limited.
Katz, J.A., 2018. The business plan: reports of its death have been greatly exaggerated. In Annals
of Entrepreneurship Education and Pedagogy–2018. Edward Elgar Publishing.
Laakkonen, H., 2017. Developing a successful business plan: Berry beverage bicycle vending
cart.
Landa, J., Lillehei, C. and Wolter, A., 2016. Dear Sarah VanSickle: Enclosed is our business
proposal for the Project Friendship 5K Fun Run. The proposal is split into four major sections: a
needs statement, project description, a progress plan, and financials. We believe that by using our
plan, and the deliverables with it, Project Friendship will be able to create a unique, cohesive,
and fun event.
McCready, K. and Molls, E., 2018. Developing a Business Plan for a Library Publishing
Program. Publications, 6(4), p.42.

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O’Donnell, R. and Dahl-Popolizio, S., 2018. Business Entrepreneurship: The Integrated
Behavioral Health Business Plan. In Training to Deliver Integrated Care (pp. 143-159).
Springer, Cham.
Qureshi, M.S., Saeed, S. and Wasti, S.W.M., 2016. The impact of various entrepreneurial
interventions during the business plan competition on the entrepreneur identity aspirations of
participants. Journal of global entrepreneurship research, 6(1), p.9.
Shields, J., 2017. Business to Business Marketing.
Wagner, R.A., 2019. The Business-Model ‘Flag’: A Visualization Tool for Pitching
Financials. Available at SSRN 3409229.