Business plan

Introduction: This is an overall statement of who you are and where you want you / your business to go. Here you can set the stage for your vision and for the business you envision. Include things like your training, when you intend to graduate along with any other certifications and licenses / skills you possess, and things that drive / motivate you. For example, is it your desire to work with a particular population (elderly, parents, families, multi-ethnic/ multilingual)? Do you want to combine several offerings / product lines (offer products / services beyond the massage itself: Oils, foods / drinks, linens or other dry goods etc.) Each item introduced will be expanded on within the main body of the Plan Include your Mission Statement and a statement about the efficacy of Chinese Medicine and / or your treatment methods with the support of a cited Chinese Medical and Western Biomedical journal article (one of each)

Product (1-2 pages – 20%) Include the most complete description of your business possible, from the ambiance / color plan etc., to the # of tables, computers, other equipment you will need and any staff you may hire. (Within Price, you will include the cost of these). Consider the same for your competition. Research practices that will compete with yours. Describe these practices, and explain why a patient / client would choose you over them? (This will be further developed within “Place” and “Promotion”.)

Place (1-2 pages – 20%) In this instance place refers to a number of things: • Physically, where will you practice be located? List the exact neighborhood, if known. If not, will it be an urban, suburban, or rural / country setting? Will you be an office building or within a home-like structure? Office park? Strip mall? How many treatment rooms; how many practitioners? Refer back to your “product”. Will you need room for a receptionist, or to sell product(s)?• How far will patients travel to see you? Said another way, what is the radius within which your potential patients live / work? • Your place (position) within the marketplace. When you started thinking about your “product”, you considered the competition in the area. Here, you want to consider all relative businesses, whether you consider them direct competitors or not. You want to establish the playing field for practices like yours within the area that you will be practicing. For each competitor, consider their product: scope of services offered, price, setting, environment / quality of treatment. For example, contrast high volume / low price vs. low volume, high price, and individual treatment to a room / treatment vs. multiple treatments in a single room. In “Product”, you considered what makes you stand out?; why would a client pick you?. That is important here, as well. Are there complementary businesses located nearby? What businesses will your potential patients will be visiting? Could these businesses / practitioners provide mutual referrals? This will also be a consideration when you build your “promotion” plan.

Promotion (2-3 pages - 20%)

Discuss who your target patient is and how you will reach them. Within Product and within Place, you also considered what would set you apart from your competition and entice potential patients to choose you. Here, you will bring the two together to determine what message will appeal to your target audience and where / how to place that message. Consider where your target patient spends time and what promotional opportunities or referral resources exist at these locations. What does your target patient read? – Will you consider print advertising? Blogging – on your page or another? Describe your webpage, any flyers, brochures, postcards that you intend to offer. Incorporate EIP into your promotional materials. Support statements made about the prevalence and efficacy of Chinese Medicine (your treatments / practice) with at least one Chinese Medical journal article and one Western Biomedical journal article

Price (1-2 pages – 20%)` Within “Price”, you will consider • your pricing strategy (how did will you set your fees), • the pricing for your services and products, • the costs (price) of developing, launching, and running your business, and • competitors’ pricing. Here, you will cross-reference to Product, Place, and to Promotion. You will also discuss the prices charged by your competition, for relevant services.

Conclusion Summarizes your vision and the successes you anticipate. It ties together the previous sections, bringing the reader to a fully encompassing familiarity of your philosophy, your mission (broad view), and your vision (day-to-day view) for business.