Essay - Business Plan Executive Summary This Business Plan Pertains to a...

Business Plan

Executive Summary

This business plan pertains to a new Tr*****ditional Chinese Medicine (TCM) clinic, to be located in Koreatown, Los Angeles. The ***** will primarily target the area's sizeable Korean population, as well ***** draw from other areas of the city. The clinic will ***** set up in a small, three room office. Initially, there ***** be no staff, only practitioner Mr. Ahn. After six months, revenues will be sufficient to hire a part-time receptionist.

***** financing of the venture ***** come ***** Mr. Ahn, who has $200,000 in personal savings. The initial startup costs are estimated to be around $10,000 but could range upwards of $15,000. There will be no need for bank financing given the cost structure and estimated time ***** breakeven for this venture.

Marketing operations will consist mainly ***** word-of-mouth ***** ads in the ***** two Korean newspapers. This is expected to run about $500 per month. If ***** marketing ***** effective, we ***** be able ***** grow the clinic at a r*****te of 10% ***** month until it reaches capacity halfway through the second year.

The daily operation of ***** ***** will be the purview ***** Mr. Ahn. Thus, the business will be set up as a sole proprietorship. All *****spects of the company will ***** conducted by Mr. Ahn, ***** ***** is *****ly strong that a part-time reception*****t/administrator is required.

Our estimates show that the business ***** be profitable by the end of the first year, and will continue to generate ***** profits for Mr. Ahn through ***** second year of growth and the maturity phase.

Introduction

***** Chinese medicine (TCM) is a branch of medicine dating back more than 2000 years. This type of medicine is based on ***** Eight Guiding Principles - cold/heat, interior/exterior, deficiency/excess, and yin/yang. Another key component is the concept of qi, "the energy ***** gives us the ability to move, think, feel and work." (Alternative ***** Foundation, 2007). ***** principle is the five element theory, which holds that "everything in our universe, including our health, is governed ***** five natural *****s: wood, fire, earth, metal and water." (Ibid.) TCM places strong emphas***** on prevention, diet ***** exercise, rather than intense treatments with artificial drugs. Diagnosis is ***** via interview, multiple pulses and a tongue examination.

To become a TCM practitioner requires several years ***** study, in a multitude of d*****ciplines. These include ac*****uncture, herbal medicine, energy work, manual therapies, mind/body medicine, massage ***** naturopathy. It requires between 2000 and 3000 hours of training in a 4-year program j*****t to learn acupuncture (Medscape, 2005).

Competitive Analysis

***** in the United States has a strong following, p*****rticularly among Asian-Americans. In a 2002 National Health survey, an estimated 8.2 million Americans claimed to have used acupuncture, including 2.1 million in the previous year. Fur*****rmore, 18.9% ***** adults had used herbs, botanicals and enzymes in the previous year as well (Department of Health and Human Services, 2008). The ***** Angeles market is one ***** ***** strongest markets. Asian-Americans make up