PRT503 Entrepreneurship: Wellness Centre for Seniors Business Plan

This document presents a business plan for a Wellness Centre for Seniors in rural Australia, focusing on providing accessible healthcare to the elderly population. The plan includes an environmental and industry analysis using PEST and SWOT frameworks, assessing political, economic, social, and technological factors, as well as internal strengths, weaknesses, opportunities, and threats. It details the venture's mission statement, core values, goals, and objectives, outlining the products and services offered, the business model, operational and marketing plans, and organizational structure. The report also addresses risk management strategies and provides a financial plan with projected sales and gross profit figures for the initial three years. The analysis indicates a growing demand for healthcare services, particularly for the aging population, and emphasizes the importance of adapting to technological advancements and managing economic instability to ensure the success and sustainability of the Wellness Centre for Seniors.

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Entrepreneurship for Professionals
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Entrepreneurship for Professionals
Brief summary
Wellness Centre for Seniors is the name of the health care centre that will be built in one of
the rural locations of Australia. The healthcare centre will be located rural town and locality
in the Barcaldine region in Central West Queensland Australia.
Wellness Centre for Seniors is a health care centre that will be offering various health caring
and medication facilities and services to the needed one. This health care centre will be
located in the rural region and hence the prime focus of the organization is to provide medical
facilities to the population in the rural region as the health care centres in the city area are
quite in-accessible and difficult to reach when required in emergency.
The sales figure is estimated of about $350,000, $450,600 and $652,000 for 2018, 2019 and
2020 respectively, whereas, the Gross Profit is expected to be of $172,500, $212,710 and
$303,200 for 2018, 2019 and 2020 respectively.
Executive summary
The business concept of Wellness Centre for Seniors is to provide the best quality of medical
and caring service to their patients and especially aged one. But the prime business concept
is the development and implementation of progressive healthcare solutions for medical
practice. Business model is the resources, processes and cost assumption that organisation
make to deliver unique value proposition to customer.
Business concept is to improving the lives of people and making service more effective
which are critical to ensuring the access of healthcare to the commonalities. Business model
evolves the creative health care business model that will determine the result in market. It
includes value of care based model, decentralized healthcare, and more.
Healthcare organisation cannot be started by everyone. The entrepreneur can start the
business because they are risk taker in the market. Along with this, the people who are having
the experience in Wellness Centre for Seniors can provide the training to the employees to
give them best service.
Wellness Centre for Seniors can generate money from the charity. They can invest the funds
in different areas so that more money can be making. Healthcare develops the niche services
or focus on the outpatient services to generate the money. Apart from this, they can become
consumer friendly and improves the services line to earn more money.

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Contents
Environmental and industry analysis.....................................................................................................4
PEST analysis....................................................................................................................................4
Political factors:.............................................................................................................................4
Economic factors:..........................................................................................................................4
Social factors:................................................................................................................................4
Technological factors:...................................................................................................................4
SWOT Analysis.................................................................................................................................5
Strengths........................................................................................................................................5
Weaknesses...................................................................................................................................5
Opportunities.................................................................................................................................5
Threats...........................................................................................................................................6
Industry demand................................................................................................................................6
Competition.......................................................................................................................................6
Description of venture...........................................................................................................................7
Mission statement..............................................................................................................................7
Core value of business.......................................................................................................................7
Goals and objectives..........................................................................................................................8
Product/services offered....................................................................................................................8
Location and size of business............................................................................................................9
Business model..................................................................................................................................9
Operational plan..................................................................................................................................10
Marketing plan....................................................................................................................................11
Organisational plan..............................................................................................................................12
Risk management................................................................................................................................13
Financial plan......................................................................................................................................14
Conclusion...........................................................................................................................................15
References...........................................................................................................................................17

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Environmental and industry analysis
PEST analysis
The pest analysis depicts the working of the healthcare department; it gives an idea of how
this system works (Armstrong, Kotler, Harker and Brennan, 2015). The industry is greatly
affected by any change in the government policies, legislation and economic rates, any
change or advancement in technology. Any changes in the above mentioned factors and there
comes a situation to worry about.
Political factors:
There are various factors like tax legislation changes, consumer protection bills and insurance
mandates which affect the growth and working of the health care departments. The amounts
or the funds which government provide to the health care sectors are hugely affected by any
change in the tax policies. If there is increase in the allowance of subsidies, it gives a positive
outcome. At the same time, it can also prove to be a concern (Baker and Saren, 2016). Any
changes in the government policy affect the costumers and indirectly they affect the working
of the health care departments.
Economic factors:
Any changes in the economic like unemployment and interest rates, it directly shows its
effect on the health care department. This affects how public is going to spend their money,
which services they will prefer for themselves. If there is rise in unemployment, people will
not prefer to spend on services like medicines (Caroline, Compte and Leite, 2018). In such
cases people are not even able to afford health when they are ill. There will be lesser health
services which people can afford. Thus economic factor directly impact the working of
companies which produce medicines.
Social factors:
Health care department also needs to consider any changes in the demographics and public
values. These days’ people mostly prefer natural remedies. Health care professionals need to
consider this. They should discuss the treatment with the clients. There is a need to follow the
new trends. Use of natural oils is increasing these days.

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Technological factors:
There has been a tremendous rise in the working of health care departments due to the new
technological advancements (Chaffey, 2016). There is a positive change in the treatment
process. New tools are being invented which enhances the performance. People are using
various apps to connect to the doctors. In short, the whole process has been revolutionized
due to new innovations in technology.
SWOT Analysis
Earlier, when the SWOT analysis and evaluation technique was initially started, it generally
included the analysis of the systematic procedure of all kind of businesses but this technique
was not implemented for the health care department; although it proved of tremendous
success in various other departments (Darrin and Stadter, 2017). Later it gave the same
results in the case of health care departments. During these days, it is widely implemented in
the case of health care departments. It is showing great impact in this field also. Its use has
seen a tremendous rise in the health care department. It is obvious that even the health care
sector also needs SWOT analysis for innovation. Proper adjustments need to be done in this
sector also. Earlier it was ignored by the healthcare department for a very long time. The data
under the SWOT analysis is categorized in a way depicted as follows:
Strengths
Strength of any business are basically all the factors which contribute towards the growth and
performance of the healthcare sector. This analysis will help and support the growth of the
Well Centre for seniors. It supports the extra ordinary IT infrastructure, highly qualified, the
equipment’s available at the health care centers, the quality of services and the professionals
and the experience they share in the work they are doing (Lane and Dieterlen, 2018). All
these factors contribute towards the growth of the healthcare department.
Weaknesses
In the same manner, weaknesses are all those factor which hinder the growth of the health
care organizations. The factors affect the growth of the department in a negative manner. This
affects the working of the Wellness Centre for Seniors. These factors include poor
management of resources, scarcity of financial resources and outdate equipment’s. The main
factors are the professional with lack of experience.

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Opportunities
Opportunities include all those factors which are external to the health care organizations
which facilitate the growth (Lopez, 2017). These lead to improvement in the services of the
healthcare department. Example of such external factors includes collaborations with other
organizations, this lead to betterment of facilities. Collaboration with other organizations also
leads to betterment in organization and management. These can generate new funding
programs which will help in developing better IT infrastructure. Training and informative
programs can be developed as it will help in community services. The major benefit is that
the funds will be easily available.
Threats
Like opportunities are the external factors, in the same manner threats are also external
factors, but they hinder the growth of the organization. These are the factors which act as
harms and they decline the quality of services provided by the health care organization. The
quality and working face a great low (Shorrick, Aspinall and Serpis, 2017). The possible
threats could be economic instability which happens due to lack of funding. The rapid
changes in technology also come under harm. Budget deficits un-necessary political
intervention and political insecurity are some of the possible threats for health care sector.
Industry demand
The health care services are in a greater trend these days. This sector has been mainly driven
by economy. There is a very simple relation. When people will have employment, they would
be economic stable and they would be able to afford health care services. With the growth in
economy, it means people have jobs which come with health insurances; they would have
money in their pocket to spend on services like health treatment. In fact when the patient rate
increases with time, there will be several vacancies for the job of nurses and physicians and
many other professionals. In the previous year, there has been increase in the employment
rate of workers in Australia. It means there are lots of people out there with health insurances.
With the increased demands, there are a lot of job vacancies in the health care department.
There are professionals who retire and prefer part-time jobs. Thus the health care department
gets affected by the economy and at the same time, it contributes to the economy.
Competition
In the recent times, the demands of patients are rising and there are shortages in the
availability of health care professionals, this creates such an environment where there is an

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intense competition between the providers of health care facilities. Also there are enormous
amount of opportunities for the practitioners at the same time. There are a large number of
producers and there is a competition between them. The consolidation in the health systems is
giving rise to the fortune type companies that need well trained clinical. There is an advanced
industry environment which is prevailing in the recent times. Well trained professionals can
easily benefit from such increasing competition. At the same time, there is a shortage in the
number of health care practitioners. There is a time when the Uber-competitive mode is
prevailing. There is great hunt for talent which is going on. According to the previous year
statistics, there are approximately half million job vacancies in the health care department.
Even there are chances like; when someone is not looking for job, they are easily getting
good offers. Thus the result of all these circumstances is that the health care industry is more
vibrant than ever, in today’s time. There will be a growth in future regardless of the political
atmosphere prevailing in that particular region.
Description of venture
Mission statement
The mission of health care organisation is to offer the good quality care, admittance and
services to their patients. The patients always come first for doctors to give full attention.
Health care treat them with a respect and dignity. Apart from this, the doctors should be well
educated so that they can apply in new development field. While, provide training and
educating to the physicians. The mission is to provide the health-giving environment to
patients and their families, and improve the quality of life for all the members. This
organisation is to provide primary health care services, quality and value priced. The mission
is to provide high quality patients-focused health care and meet the needs of the community.
To ensure the peace of mind through the quality and deliver care beyond their expectation.
Core value of business
In organisation core values guide all the members of healthcare to give the best care to their
patients. They are a following:
Respect – it is an excellent core value for all community because it equally applies to all with
their patients (Myers, 2013). It promotes the environment that employees will work here and
patients will also seek their treatment.

Entrepreneurship for Professionals
Accountability – health care take responsibility to meet their commitments and take the
ownership of the results.
Continuous improvement – health care always look improvement. Individual, and as a team
they constantly ask how they can do better?
Services excellence- health care provides the good services to community or their patients.
They always understand the need of those people who depend on them like doctors, patients,
employees or their team members and exceed their expectations (Nunan and Domenico,
2013).
Goals and objectives
In health and care organisation it is essential to set goals and objectives in appropriate
manner. The goals of organisation must be SMART i.e. specific, measurable, achievable,
relevant and time-bound. Some of the objectives of health care organisation are explained as
below;
1. To formulate diagnostic and therapeutic plans in demonstrating the awareness of risks,
patient preferences and many more (Abidi, Shafiq, Arshad, Pirwani and Hassan, 2015).
2. Utilize excellent communication skills with their patients, families and other members who
are working in that entity.
3. Demonstrate commitment towards ethical principles and their professional responsibilities
(Pardalos and Tsitsiringos, 2013).
Above mention objectives must be Specific. It means all these goals must be clear and
specific so that employees feel motivated to achieve them. Further, aim must be Measurable
so that it will be easy for professionals to track their employee progress and meet with their
deadlines (Scarborough, 2015). Other is Achievable, it means goals must be realistic and
should be attainable in appropriate manner. Health care organisation objective must be
Relevant in order to work upon the ethical principles in appropriate manner. Last is Time-
bound, deadline of each and every goals must be set objectives can attain in a set period of
time (Pfitzer, Bockstette and Stamp, 2013).
Product/services offered
It is organisation of institution, people and resources in which health care deliver the services
to population in need. They give the medicines, medical treatment, hospital service or any

Entrepreneurship for Professionals
other necessary service to the people (Bromiley and Rau, 2016). The services which are
offered by the medical, nursing, and allied health professions for care is the prevention,
treatment, and management of illness and the prevention of the mental and physical. Health
care provide them a primary care, secondary care, as well as in public health. Apart from this,
they can provide the facility like ambulatory surgical centre, urgent care clinic, hospital or
doctor’s office in case urgent requirement.
Location and size of business
Wellness Centre for Seniors is the name of the health care centre that will be built in one of
the rural locations of Australia. The healthcare centre will be located rural town and locality
in the Barcaldine region in Central West Queensland Australia
Business model
Business model help to organisation in planning how to generate revenue and make profits
from them. However, it also explains that what products and services should be offered by
health care at the time of utility (Bhachu, 2017). Apart from that it is significant for
organisation to establish revenue model which describe the structure that how company will
generate income or revenue. This model should be check on continuously basis so that it will
help to health care in generating the profits by providing high quality of services. Revenue
model of organisation allow them to communicate about their value in competitive market
that which kind of services they are offering to customers (Muhtaroglu, Demir, Obali and
Girgin, 2013). Along with this, it also helps them in identifying their potential investors so
that funds can be raised from them. The below presented is one of the most contemporary
business models which can be used by Wellness centre for seniors (Osterwalder and Pigneur,
2010):

Entrepreneurship for Professionals
Figure 1 Business model
[Source: Business model for health care organizations, 2018]
Operational plan
The age care system aim to make sure that all old people receive care and services which they
need. There are many different types of services for Wellness Centre for Seniors group which
are available for them (Davcik and Sharma, 2016). They provide the training to patients
through they are giving services. They involve interaction not only between the individuals
and business but also state, local government and residents of the rest of the Wellness Centre
for Seniors home. They will always there for them to stay as independent through a system
that provides the fair and equitable access to services for all older people. However, they can
provide them a personal care for 24 hours if they need them (Bruni, Gherardi and Poggio,
2014). They can provide the additional guidance about the care and service from the experts.
Apart from this, Wellness Centre for Seniors home is properly managed and has the right to
inform about the needs of the patients. They should have qualified staff with the right skill to
care for them while having the goods and equipment. Wellness Centre for Seniors home

Entrepreneurship for Professionals
encourage the participants in decisions about the service they provide to them at home and to
maintain their leisure and lifestyle activities (Glowik and Smyczek, 2011). They should
clearly define the rights and responsibility to understand them. Wellness Centre for seniors
gives them a safe and secure environment to make them comfortable.
Now a day’s technology growing in business is necessity. Technology affects the business
operations. It can be used in different ways. The main service is to improve the customer care
services. It involves the understanding of the consumer. Collect all the information and data
of customer through website or online survey. If the customer is paying for goods and
services then use the electronic mail to inform about deals and discounts, this will make
customer feel cared and it will motivation them to buy (Hiduke and Ryan, 2013).
Improve on business communication. This helps in the flow of communication between the
business its customer, employees or investors. Communication technology can use like
electronic mail, mobile phones, and text messaging services. The main communication tool is
social networking to engaged and collects relevant information.
Manage human resources. It helps in the process of recruiting from their retire functions. It
save the time and cost during the process of the organisation (McKeever, 2016). The entity
can use internet to recruit the experienced labour and assign the task to new employees and
test them. Through this the performance and behaviour of the employees can be monitor.
Marketing plan
Target market- It is the market strategy for the business which are divided into various
segments. They are demographic, geographic, and psychographic and behavioural.
Demographic- this divides the market on the basis of age, gender, occupation, income, family
size, etc. The organisation should provide the services according to the age, gender or
anything. This is the most common segments for marketers. Wellness Centre for Seniors
home divided the services according to these markets (business.gov 2018). They can provide
home services also to their customers. And the information is publically also available in
database round the world, where they can enter in the new market.
Geographic- This divides the market on the basis of location, areas This is important for the
marketer because as there are so many people who belongs different religious, cultural, or
may have different requirement (Duermyer 2017). So the necessity of Wellness Centre for

Entrepreneurship for Professionals
Seniors should be there, where the need of the customer is required or they need medical
facility.
Psychographic and behavioural- This is based on the personality, behaviour, usages, attitude
or preference of the customer (Hopps, 2008). The demand of the customer is based on the
services provided to them. If the organisations know about the need, preference or behaviour
towards the Wellness Centre for Seniors, it will be easy for them in making provision of
different type of medical facilities as required by the needed one.
Targeting strategy- Wellness Centre for Seniors is a care facility like nursing homes, with an
aging population, this demand is growing. This is becoming more popular and more
necessity.
Communication- It is necessary to manage the whole process of decision making and
communication for the Wellness Centre for Seniors provider for the organisation (Rajnoha
and Lorincová, 2015). The organisation should have good communication so that they can
increase their customer. The age group start communicates with others so they know more
about the need of the consumers and build the trust and relationship with them.
Online presence- Now a days so many people are connected with the social networking.
Through this organisation can find the good number of people who uses the internet regularly
to see what your rest home offers, in comparison to the competitors (Volery and Mazzarol,
2015). The organisation has to make sure about the website has the relevant, up to content,
that is reviewed regularly. It needs to make sure what level of service is available for their
customer when they visit first time on your site. The organisation website is optimised so that
prospects will able to find your website easily when searching online for the Wellness Centre
for Seniors facility in the city or areas are surroundings.
Organisational plan
Organisational plan is that process which helps to companies in identifying their objectives in
order to formulate and monitor the specific strategies in order to achieve their targets. In care
age home it is considered as an important responsibility of management team so that they can
provide better quality of service to their patients (Baker, 2014). However, they should also
follow a proper management structure which has been followed by each and every
organisation. There are different types of management structure such as hierarchy, flat,

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matrix. It depends on entity that which they will follow in order to achieve their goals in a set
period of time.
By following structure it clearly defines how activities such as allocation of task, supervision,
coordination which are directed towards the organisation goals and objectives (Australian
Business 2014). This structure should be flexible, efficient and innovation so that it will be
easy for employees to achieve their sustainable objectives in competitive market.
Management plan for the Wellness care centre is following flat structure for new business.
They have director for operations and their administration staff, support staff, chief nursing
officer, nursing manger, director support staff (Berry 2018). It promotes the fast decision
making and it allows the clear communication between the employees. It requires the less
dominance and supervise.
Risk management-
It carries a great responsibility for caring the elder in a highly regulated environment, as well
as risk also. There are so many issues in which ages care group is facing different challenge
related to regular change, workplace health, safety and security (Fleisher and Bensoussan,
2015). So organisation should create a safe and secure environment for residents, employees,
etc. while who are protecting your valuable assets.
Most of the age care industry risk faced has to do with complex medical conditions of the
residents and the potential important errors to be made by staff. The error can be made at the
stage of misidentifying important health factors in residents (Lee, Barker and Mouasher,
2013). The risk can be come from due to the unidentified or misidentified medical condition
of residents.
The risk can be managed in Wellness Centre for Seniors by providing services to their clients
with high quality and practical solution. The rapidly changing in Wellness Centre for Seniors
industry facing the risk can take advice from supervisors. Apart from that, they need some
strategic advisor so that they can understand the depth of Wellness Centre for Seniors
complexity industry in competitive market (Glowik and Smyczek, 2011). However, they are
some experience professionals with the resources for the resident age care who are providing
good services and facility to their patients. Some standard procedure and processes have to be
develop for mitigate the risk.

Entrepreneurship for Professionals
Financial plan
Financial plan is to be considered as an important part of every organisation, as it helps them
in investing the funds in appropriate manner with in a span period of time. Wellness Centre
for Seniors is creating their financial plan only immediately after setting the vision and
objectives of entity (Klimko, 2015). Apart from that, being a beginner as a new venture in
competitive market it is significant for them to recap their plan on continuously basis. For
example, take financial inventory, goals and objectives should be defined properly, income
should be increased in order to allow greater goals for funding and many more. As this care
home can collect the funds in different ways.
The Wellness Centre for Seniors can make significant expenditure on basic facilities for
patients and provide them a home and community programme to people. After that, they
should increase their services by increasing sale person for giving them advice on Wellness
Centre for seniors. In the first or second year they can take use of technology for interactive
with the patients (Kotlar and Armstrong, 2012). They can increase their social networking
with help of the budget they have made.
Wellness Care Centre for Seniors
Profit & Loss Statement
Amount ($)
2018 2019 2010
Sales $350,000 $450,600 $652,000
Miscellaneous income $0 $55,000 $75,000
A. Total $400,000 $505,600 $727,000
B. Cost of Sales $227,500 $292,890 $423,800
C. Gross Profit (A-B) $172,500 $212,710 $303,200
D. Operating Expenses
Salary $100,000 $110,000 $121,000
Rent $12,000 $13,200 $14,520
Utilities $2,000 $2,200 $2,420
Insurance $500 $550 $605
Depreciation $20,000 $22,000 $24,200
Marketing $12,000 $13,200 $14,520
Maintenance & Repairs $6,000 $6,600 $7,260
Other $2,300 $2,530 $2,783

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Total $154,800 $170,280 $187,308
Operating profit $17,700 $42,430 $115,892
Less: Interest $15,000 $17,500 $15,000
Profit before tax $2,700 $24,930 $100,892
Less: Tax @ 25% $675 $6,233 $25,223
Net Profit AT $2,025 $18,698 $75,669
Wellness care Centre for Seniors .
Balance Sheet
Amount ($)
Assets 2018 2019 2010
Current $85,000 $102,000 $122,400
Fixed $250,000 $300,000 $300,000
Other assets $100,000 $125,000 $125,000
Total Assets $435,000 $527,000 $547,400
Liabilities
Non-Current (Borrowings) $370,000 $350,000 $325,000
Total Liabilities $375,000 $350,000 $325,000
Equity $60,000 $177,000 $222,400
Total Liabilities & Equity $435,000 $527,000 $547,400
Conclusion
From above report it can be concluded that it is significant for organisation to make their
business plan properly while entering into new market. Along with this, they should also
constantly check their financial statement so that they can determine how much funds are to
be required in future. They must aware about their competitors in the market and which
technology they are using for their patients. Marketing strategic should be plan according to
the development of Wellness Centre for Seniors group and target the market on basis of need
for the customers.

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