Do you want to start a CPR training company and need to write a plan? If YES, here is a sample first aid training business plan template & feasibility report.
If you have a certification in basic life support and two to three years teaching experience, and you have been nursing the ambition to own a first aid training business, then you would need to give ample attention to this sample business plan.
A first aid training business may not be entirely easy to start, but one thing is certain, it is a straight-forward business that can generate steady profits if well positioned and properly managed.
A Sample First Aid Training Business Plan Template
1. Industry Overview
First aid is the first and immediate assistance given to any person suffering from either a minor or serious illness or injury, with care provided to preserve life, prevent the condition from worsening, or to promote recovery.
It includes initial intervention in a serious condition prior to professional medical help being available, such as performing cardiopulmonary resuscitation (CPR) while waiting for an ambulance, as well as the complete treatment of minor conditions, such as applying a plaster to a cut. First aid is generally performed by someone with basic medical training.
First aid training business falls under the Occupational Health and Workplace Safety Services industry and establishments in the industry provide advice and assistance to organizations and companies to assure safe and healthy working conditions for employees.
Operators provide training, outreach, education and assistance in the form of worksite evaluations, hazard assessments, facility design reviews and compliance audits.
Statistics has it that in the united states of America alone, there are about 38,892 registered and licensed (accredited) Occupational Health and Workplace Safety Services training companies responsible for employing about 72,238 people and the industry rakes in a whooping sum of $8 billion annually.
The industry grew at 2.4 percent annual growth within 2014 and 2019. It is important to state that there are no establishments in this industry with a lion market share. A recent report released by IBISWorld shows that the Occupational Health and Workplace Safety Services industry has benefited from increased complexity in laws surrounding employee health and safety over the five years to 2019.
Industry operators provide advice and assistance in the form of worksite evaluations, compliance audits, hazard assessments, facility-design reviews, indoor air quality evaluations and training programs. The report shows that these programs help protect the health and safety of employees in a diverse range of workplaces.
Over the five years to 2019, industry revenue is expected to increase at an annualized rate of 2.4 percent to $7.7 billion. During this period, sustained economic growth has caused many of the industry’s downstream customers, such as manufacturing and construction companies, to bolster revenue in the industry.
Starting a first aid training business requires professionalism and good grasp of the skills you want to teach people. Besides, you would need to get the required certifications and license (accreditation) and also meet the standard for such business before you can be allowed to start a standard first aid training business in the United States.
One good thing about first aid training businesses is that there is a readily available market for their services because there is a law that encourages corporate organizations to train their employees on first aid and workplace safety skills. As a first aid trainer the key attributes needed to be able to make good success from the trade is patience, enthusiasm, passion about the specific subjects/skills to be tutored, and constant positivity.
You are also expected to be highly proactive; you would need to be good at planning, preparation, and certain other organizational skills. It is one thing to have a skill and it is another thing to know how to teach people the skills which is why you must constantly get feedbacks from your clients to be able to measure their progress and your performance.
2. Executive Summary
David Brown & Co® First Aid Training Firm, Inc. is a U.S based first aid training firm that will be located in Lake Street, Petoskey – Michigan. We have been able to secure a standard and well-positioned office facility in a central business district in Lake Street.
We are a first aid training firm that is set to compete in the highly competitive industry not only in the United States market but also in the global market because our clientele base will not be restricted to just businesses and organizations in the United States but in the internal market.
David Brown & Co® First Aid Training Firm, Inc. will offer robust first aid training to both corporate organization and individuals.
Our core training areas will revolve around providing effective, life-saving first aid interventions et al. Our business goal is to become one of the leading first aid training firms in the United States of America with high profile corporate and individual clients.
Our workers are going to be selected from a pool of certified, licensed and highly creative first aid training experts in and around Petoskey – Michigan and also from any part of the world as the business grows. We will make sure that we take all the members of our workforce through the required trainings that will position them to meet the expectation of the company and to compete with leading first aid training firms in the United States.
At David Brown & Co® First Aid Training Firm, Inc. our client’s best interest will always come first, and everything we do will be guided by our values and professional ethics. We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s business needs precisely and completely.
David Brown & Co® First Aid Training Firm, Inc. is founded by David Brown and he will run the business with other partners. David Brown is a renowned occupational health and workplace safety trainer. He has over 15 years’ experience with certification in Basic Life Support (BLS) as a business coach and corporate trainer both in the United States of America and Canada.
3. Our Products and Services
David Brown & Co® First Aid Training Firm, Inc. is going to offer varieties of first aid training within the scope of the occupational health and workplace safety industry in the United States of America and of course to also make profits from the industry.
We will do all that is permitted by the law in the US to achieve our aim and business goal. We will work hard to ensure that David Brown & Co® First Aid Training Firm, Inc. do not just work for clients in the United States of America, but also for clients in other parts of the world. Our service offerings are listed below;
- Providing Aquatic/Marine first aid training
- Providing Battlefield first aid training
- Providing Hyperbaric first aid training
- Providing Oxygen first aid training
- Providing Wilderness first aid training
- Providing Mental health first aid training
- Providing Cardiopulmonary resuscitation (CPR) training.
4. Our Mission and Vision Statement
- Our vision is to build a highly competitive and effective first aid training business that will become the number one choice for both individuals and corporate organizations in and around Petoskey – Michigan and the whole of the United States of America
- Our mission is to provide affordable professional and highly effective first aid training with the aim to;
- Preserve life: The overriding aim of all medical care which includes first aid, is to save lives and minimize the threat of death. First aid done correctly should help reduce the patient’s level of pain and calm them down during the evaluation and treatment process.
- Prevent further harm: Prevention of further harm includes addressing both external factors, such as moving a patient away from any cause of harm, and applying first aid techniques to prevent worsening of the condition, such as applying pressure to stop a bleed becoming dangerous.
- Promote recovery: First aid also involves trying to start the recovery process from the illness or injury, and in some cases might involve completing a treatment, such as in the case of applying a plaster to a small wound.
Our Business Structure
David Brown & Co® First Aid Training Firm, Inc. is a world class first aid training firm that intends starting small in Lake Street, Petoskey – Michigan, but hopes to grow big in order to compete favorably with leading first aid training firms in the United States.
We are aware of the importance of building a solid business structure that can support the kind of world class business we want to own. This is why we are committed to only hiring the best hands within our area of operation.
At David Brown & Co® First Aid Training Firm, Inc. we will ensure that we hire people that are qualified, hardworking, and creative, result driven, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders.
As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of five years or more as agreed by the board of trustees of the company. In view of the above, David Brown & Co® First Aid Training Firm, Inc. have decided to hire qualified and competent hands to occupy the following positions;
- Chief Executive Officer
- First Aid Trainer cum Specialist
- Human Resources and Admin Manager
- Sales and Marketing Executive
- Client Service Executive
5. Job Roles and Responsibilities
Chief Executive Officer – CEO:
- Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results
- Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for fixing prices and signing business deals
- Responsible for providing direction for the business
- Responsible for signing checks and documents on behalf of the company
- Evaluates the success of the organization
First Aid Trainer/Specialist
- Deliver First Aid training to clients; ensure valid and reliable assessment standards when undertaking tutorials or conducting tests/exams.
- Design, develop and create new products or review/update existing ones in conjunction with the design team (as necessary), to meet organizational needs and nationally approved standards.
- Contribute to the design and maintenance of training courses by liaising with internal/external stakeholders and suppliers to ensure best practice.
- Provide specialist advice, guidance and assistance relevant to your allocated area of delivery.
- Assess, coach and develop individuals according to their needs.
- Provide structured feedback and development plans for students undertaking First Aid training; seek advice, recommend and implement approved action when students are failing to achieve competence.
- Prepare concise and appropriate course reports and assessment of students during their training period.
- Maintain and develop professional knowledge, skills and training techniques relevant to the role and pertaining to their allocated area of delivery in accordance with approved professional practice.
- Ensure compliance with Health and Safety requirements whilst conducting training, working with electrical equipment and DSE requirements
- Handle other related first training advisory and consulting services
Human Resources and Admin Manager
- Responsible for overseeing the smooth running of HR and administrative tasks for the organization
- Defining job positions for recruitment and managing interviewing process
- Carrying out induction for new team members
- Responsible for training, evaluation and assessment of employees
- Oversee the smooth running of the daily office.
Sales and Marketing Manager
- Manage external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
- Model demographic information and analyze the volumes of transactional data generated by customer
- Writing winning proposal documents, negotiate fees and rates in line with organizations’ policy
- Responsible for handling business research, market surveys and feasibility studies for the organization
- Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
- Create new markets cum businesses for the organization
- Empower and motivates the sales team to meet and surpass agreed targets
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- Provides managements with financial analyses, development budgets, and accounting reports
- Responsible for financial forecasting and risks analysis.
- Performs cash management, general ledger accounting, and financial reporting for one or more properties.
- Responsible for developing and managing financial systems and policies
- Responsible for administering payrolls
- Ensuring compliance with taxation legislation
- Handles all financial transactions for the organization
- Serves as internal auditor for the organization.
Client Service Executive
- Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
- Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
- Consistently stays abreast of any new information on the company’s products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries
- Receives parcels/documents for the company
- Handles enquiries via e-mail and phone calls for the organization
- Distribute mails in the organization
- Handles any other duties as assigned by the manager
6. SWOT Analysis
David Brown & Co® First Aid Training Firm, Inc. engaged the services of a core professional in the area of business consulting and structuring to assist our organization in building a well – structured first training business that can favorably compete in the highly competitive occupational health and workplace safety industry in the United States.
Part of what the team of business consultant did was to work with the management of our organization in conducting a SWOT analysis for David Brown & Co® First Aid Training Firm, Inc. Here is a summary from the result of the SWOT analysis that was conducted on behalf of David Brown & Co® First Aid Training Firm, Inc.;
Our core strength lies in the power of our team; our workforce. We have a team that are considered experts in the industry, a team with excellent qualifications and experience in first aid training and occupational safety.
Aside from the synergy that exists in our carefully selected faculty members and our strong online presence, David Brown & Co® First Aid Training Firm, Inc. is well positioned in a community with the right demography and we know we will attract loads of clients from the first day we open our doors for business.
As a new first aid training firm in Petoskey – Michigan, it might take some time for our organization to break into the market and gain acceptance especially from top profile clients in the already saturated occupational health and workplace safety services industry; that is perhaps our major weakness.
The opportunities in the occupational health and workplace safety industry is massive considering the number of individuals and corporate organizations who would want to acquire first aid skills with the primary goal to prevent death or serious injury from worsening in the work place, at home and in public places. As a standard first aid training firm, we are ready to take advantage of any opportunity that comes our way.
Some of the threats that we are likely going to face as a first aid training firm operating in the United States of America are unfavorable government policies that might affect our business, the arrival of a competitor within our location of operation and global economic downturn which usually affects spending/purchasing power.
7. MARKET ANALYSIS
- Market Trends
One thing is certain, the trend in the occupational health and workplace safety services industry is such that if you want to be ahead of your competitors, you should be able to acquire as much certifications as possible and you should be able to have loads of testimonies from your clients.
The truth is that if your clients are satisfied with your trainings, then they will be compelled to help promote your organization. Another notable trend in this industry is the influence of technology; the advent of technology is responsible for the increase in income generated by first aid trainers all over the world.
With technology, it is now easier for first aid trainers to train students that are thousands of kilometers away from them. Tools like video calling / Skype, YouTube, DVDs and Webcast et al are being used by first aid trainers to train students in different parts of the world.
8. Our Target Market
The target market for first aid training is vast and all encompassing. As a standard first aid training company, our target market cuts across people of different class and from all walks of life. We are coming into the occupational health and workplace safety industry with a business concept that will enable us work with clients from different industry.
Below is a list of the clients that we have specifically design our services for;
- Banks, Insurance Companies and other related Financial Institutions
- Blue Chips Companies
- Corporate Organizations
- Real Estate Owners, Developers, and Contractors
- The Government (Public Sector)
- Schools (High Schools, Colleges and Universities)
- Shipping companies
- The Military and Paramilitary
- Sport Organizations
- Religious Organizations
- Entrepreneurs and Start – Ups
Our competitive advantage
The occupational health and workplace safety services industry is indeed a very prolific and highly competitive industry. Clients will only hire your services if they know that you can help them acquire first aid skills that will help them to save lives at work and in their organization.
We are quite aware that to be highly competitive in the occupational health and workplace safety industry means that you should be able to deliver consistent quality training, your clients should be able to experience remarkable improvement and you should be able to meet the expectations of your clients at all times.
David Brown & Co® First Aid Training Firm, Inc. might be new Petoskey – Michigan, but the management team and the owner of the business are considered gurus in the industry. They are licensed and highly qualified first aid trainers.
Aside from our robust experience and expertise as first aid training company, we have a very strong online presence that will enable us train clients in different parts of the world from our online portals.
Lastly, our employees (first aid trainers) will be well taken care of, and their welfare package will be among the best within our category in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and objectives.
9. SALES AND MARKETING STRATEGY
- Sources of Income
David Brown & Co® First Aid Training Firm, Inc. is established with the aim of maximizing profits in the occupational health and workplace safety industry and we are going to ensure that we do all it takes to attract clients on a regular basis.
David Brown & Co® First Aid Training Firm, Inc. will generate income by offering the following services;
- Providing Aquatic/Marine first aid training
- Providing Battlefield first aid training
- Providing Hyperbaric first aid training
- Providing Oxygen first aid training
- Providing Wilderness first aid training
- Providing Mental health first aid training
- Providing Cardiopulmonary resuscitation (CPR) training.
10. Sales Forecast
One thing is certain, there would always be corporate organizations, government agencies, non – profits and individuals who would need the services of first aid training firms to help train their staff.
David Brown & Co® First Aid Training Firm, Inc. is well positioned to take on the available market in the occupational health and workplace safety services industry and we are quite optimistic that we will meet our set target of generating enough income/profits from the first six months of operation and grow our first aid training firm to enviable heights.
We have been able to examine the occupational health and workplace safety services marketing space and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. Below are the sales projections for David Brown & Co® First Aid Training Firm, Inc., it is based on the location of our business and of course the wide range of our first aid trainings we offer and our target market;
- First Fiscal Year (FY1): $200,000
- Second Fiscal Year (FY2): $300,000
- Third Fiscal Year (FY3): $450,000
N.B: This projection was done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same first aid training and certifications as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.
- Marketing Strategy and Sales Strategy
We are mindful of the fact that there are stiff competitions amongst first aid training firms in the United States of America, hence we have been able to hire some of the best marketing experts to handle our sales and marketing.
Our sales and marketing team will be recruited based on their vast experience in the industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of David Brown & Co® First Aid Training Firm, Inc.
We want to build a standard first aid training firm that will leverage on word of mouth advertisement from satisfied clients. David Brown & Co® First Aid Training Firm, Inc. is set to make use of the following marketing and sales strategies to attract clients;
- Introduce our first aid training firm by sending introductory letters alongside our brochure to corporate organizations, government agencies, NGOs and key stake holders in nd around Petoskey – Michigan.
- Print out fliers and business cards and strategically drop them in offices, libraries, public facilities and train stations et al.
- Use friends and family to spread word about our first aid training firm
- Post information about our first aid training firm on bulletin boards in places public facilities, libraries, and local coffee shops.
- Place a small or classified advertisement in the newspaper, or local publication about our first aid training firm
- Using referral networks such as agencies that will help match clients with our first aid training firm
- Advertise our firm in relevant educational magazines, newspapers, TV and radio stations
- Attend relevant educational expos, seminars, and business fairs et al
- Engage direct marketing approach
- Encourage word of mouth marketing from loyal and satisfied clients
11. Publicity and Advertising Strategy
We have been able to work with our in – house brand and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market. We are set to become the number one choice for clients in the United States which is why we have made provisions for effective publicity and advertisement of our first aid training firm.
Below are the platforms we intend to leverage on to promote and advertise David Brown & Co® First Aid Training Firm, Inc.;
- Place adverts on both print (newspapers and magazines) and electronic media platforms
- Sponsor relevant community based events/programs
- Leverage on the internet and social media platforms like; Instagram, Facebook, twitter, YouTube, Google + et al to promote our services
- Install our Bill Boards on strategic locations all around Lake City Petoskey – Michigan
- Distribute our fliers and handbills in target areas
- List David Brown & Co® First Aid Training Firm, Inc. in local directories/yellow pages
- Advertise David Brown & Co® First Aid Training Firm, Inc. in our official website and employ strategies that will help us pull traffic to the site.
- Ensure that all our staff members wear our branded shirts and all our vehicles are well branded with our company logo et al.
12. Our Pricing Strategy
At David Brown & Co® First Aid Training Firm, Inc. we will keep the prices of our training services below the average market rate by keeping our overhead low and by collecting payment in advance from organizations who would hire our services. In addition, we will also offer special discounted rates to all our customers at regular intervals.
We are aware that there are some one – off jobs or government first aid training contracts which are always lucrative, we will ensure that we abide by the pricing model that is expected from contractors or organizations that bid for such contracts.
So also, there are some clients that would need regular access to first training consultancy and advisory services, we will offer flat rate (commission/percentage) for such services.
- Payment Options
The payment policy adopted by David Brown & Co® First Aid Training Firm, Inc. is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.
Here are the payment options that David Brown & Co® First Aid Training Firm, Inc. will make available to her clients;
- Payment via bank transfer
- Payment with cash
- Payment via credit cards
- Payment via online bank transfer
- Payment via check
- Payment via mobile money transfer
In view of the above, we have chosen banking platforms that will enable our client make payment for our training services and certifications without any stress on their part. Our bank account numbers will be made available on our website and promotional materials.
13. Startup Expenditure (Budget)
This is what it would cost us to setup David Brown & Co® First Aid Training Firm, Inc. in the United of America;
- Business incorporating fees in the United States of America will cost – $750.
- The budget for Liability insurance, permits and license will cost – $3,500
- Leasing / renting an office space in a good location in Lake Street Petoskey – Michigan that will accommodate the number of employees for at least 6 months (Re – Construction of the facility inclusive) will cost – $65,000.
- The cost for furnishing and equipping the office (computers, printers, projectors, markers, servers / internet facility, furniture, telephones, filing cabinets, and electronics) will cost – $30,000
- The amount required to purchase the needed software applications – $ 3,500
- The amount required to purchase first aid training equipment and First aid kits – $3,000
- Launching an official website will cost – $500
- The amount needed to pay bills and staff members for at least 2 to 3 months – $40,000
- Additional Expenditure such as Business cards, Signage, Adverts and Promotions will cost – $3,000
- Miscellaneous – $2,000
Going by the report from the market research and feasibility studies conducted, we will need about one hundred and fifty thousand (150,000) U.S. dollars to successfully set up a medium scale but standard first aid training firm in the United States of America.
Generating Fund/Startup Capital for David Brown & Co® First Aid Training Firm, Inc.
David Brown & Co® First Aid Training Firm, Inc. is a private registered business that will be owned, financed and managed by David Brown and other partners. They decided to restrict the sourcing of the startup capital for the business to just three major sources.
- Generate part of the startup capital from personal savings and sale of his stocks
- Generate part of the startup capital from friends and other extended family members
- Generate a larger chunk of the startup capital from the bank (loan facility).
N.B: We have been able to generate about $50,000 (Personal savings $35,000 and soft loan from family members $15,000) and we are at the final stages of obtaining a loan facility of $100,000 from our bank. All the papers and documents have been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.
14. Sustainability and Expansion Strategy
It is an established fact that, the future of a business lies in the number of loyal customers that they have, the capacity and competence of their employees, their investment strategy and business structure. If all of these factors are missing from a business, then it won’t be too long before the business closes shop.
One of our major goals of starting David Brown & Co® First Aid Training Firm, Inc. is to build a business that will survive off its own cash flow without injecting finance from external sources once the business is officially running.
We know that one of the ways of gaining approval and winning customers over is to offer our first aid training and certification programs a little bit cheaper than what is obtainable in the market and we are prepared to survive on lower profit margin for a while.
David Brown & Co® First Aid Training Firm, Inc. will make sure that the right foundation, structures and standard operating processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner of our business strategy.
As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of five years or more as determined by the board of the organization. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.
- Business Name Availability Check: Completed
- Business Incorporation: Completed
- Opening of Corporate Bank Accounts: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Securing a standard office facility in a good location in Lake Street, Petoskey – Michigan: Completed
- Application for business license and permit: Completed
- Purchase of Insurance for the Business: Completed
- Conducting Feasibility Studies: Completed
- Generating part of the startup capital from the founders: Completed
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents: In Progress
- Design of Logo for the business: Completed
- Secure trademark for our training manuals and certifications: In Progress
- Printing of Promotional Materials: Completed
- Recruitment of employees: In Progress
- Purchase of the needed first aid kits, first aid training equipment, furniture, office equipment, software applications, electronic appliances and facility facelift: In progress
- Creating Official Website for the business: In Progress
- Creating Awareness for the business: In Progress
- Health and Safety and Fire Safety Arrangement: In Progress
- Establishing business relationship with vendors and key players in various industries: In Progress