Feasibility Analysis

Last Updated: 12 Mar 2023

Pages: 2 Views: 159

Liability insurance, and especially mall-practice insurance, would be essential to my business. * Neurology is a continuously expanding profession and this trend will most likely continue upward for some time. * Neurological disorders tend to affect the elderly most frequently. Taking this into consideration (along with the retirement of the baby-boomer generation) the demographics of my customers will most likely consist of elderly patients. The Industry & Market * The healthcare industry will almost definitely continue to expand nation-wide. * My market practice is nearly unlimited. I can increase the size of my business by taking on partners, associates, etc. * There would not be much competition to begin with, and If were to be the best, then there would be close to none. * My customer pool would consist of anyone with a neurological disorder.

Again, this mostly consists of the elderly. * My potential market penetration is high considering that many communities have a shortage of neurologists. Financial Projections * My pricing would mainly be driven by insurance companies. The likelihood of making a profit is very high considering that most neurologists make between a year. * I am unable to come up with a sales revenue forecast at tans time Owe to tense projections Dealing Tar In ten Utter; out one would need to owe created projecting from the time of startup, to three years down the road. A attention cost forecast, would depend on the cost of labor, fixed costs, malpractice insurance, other variable costs, etc. A specific number is unattainable at this time. * The gross profit of the average neurologist is roughly 15%; the net profit is typically about 7 h So the gross-net profit margin is about half. * The fixed operating expenses would consist of property tax, utilities, equipment, etc. The variable costs would be limited, most likely consisting of hiring additional staff upon expansion. * Taxes would most likely be high, but so would profits.

Hence my income would be gig regardless of taxes. Future Action Plan * The start-up capital needed typically runs around $500,000. * The sources of my start-up capital would most likely consist of loans (from the bank and from my father. ) * A strategic plan must be written specifying any steps that are to be taken but, again, cannot be written at this early a stage. * A business plan must also be written, detailing my practice head-to-toe. This will also be written at a later stage. * On a side note, a business consultant is most likely necessary to insure the success and continued success of my practice.

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