Do you want to start a plastic surgery business and need to write a business plan? If YES, here is a detailed sample plastic surgery business plan template.
A large percentage of people who consider that their facial outlook and body are not what they want would always want to effect the necessary changes. This goes to show that plastic surgery business is not only thriving but profitable. A plastic surgery clinic is one that provides non – medical services to clients in a bid to assist them with cosmetic related surgery.
When it comes to starting a plastic surgery clinic, you are required to first look at the existing laws in the country or the State you reside in because there is hardly any country that does not pay serious attention to their health sector. The healthcare industry is usually highly regulated to guard against the infiltration of quacks. Below is a sample plastic surgery business plan template that can help you to write your own with little or no hassles.
A Sample Plastic Surgery Business Plan Template
Table of Content
- 2. Executive Summary
- 5. Job Roles and Responsibilities
- 6. SWOT Analysis
- 7. MARKET ANALYSIS
- 13. Startup Expenditure (Budget)
1. Industry Overview
Plastic surgery clinic is under the Plastic Surgeons industry and players in this industry provide medical techniques intended to enhance physical appearance for cosmetic or reconstructive purposes. Businesses in this industry consist of medical specialist clinics where licensed professional doctors perform surgical and non-surgical procedures.
The aging population and an increasingly favorable public perception of plastic surgery have been driving forces behind the recent rise in the industry demand. Despite the improving economy, the industry has been hindered by rising external competition.
Competition has been especially prevalent with medical spas, which offer various nonsurgical procedures that make up a considerable and expanding portion of industry demand. As the economy continues to improve over the five years to 2022, IBISWorld projects that revenue will continue to grow. A rise in disposable income and an aging population will be the main drivers of growth over the next five years.
Available statistics show that interest in plastic/cosmetic surgery continues to climb, as technological advancements make industry services more accessible, more affordable and safer. Cosmetic/plastic surgery is no longer reserved for the wealthy or famous.
Most cities in the united states are home to plastic surgery centers, offering body contouring procedures, such as liposuction and breast augmentation; facial rejuvenation, such as eyelid surgery, chin and cheek implants; laser hair removal; and other enhancement procedures.
The number of plastic surgery procedures performed in the United States has continued to grow over the past five years, fueled by strong economic growth.
The Plastic Surgeons industry is indeed a very massive industry in the United States of America, Canada, united kingdom, South Korea, China, Germany and Belgium et al. Statistics has it that the Plastic Surgeons industry in the United States of America is worth $18 billion, with an estimated growth rate of 4.8 percent within 2014 and 2019.
There are about 7,955 registered and licensed plastic surgery clinics in the United States and they are responsible for employing about 52,305 people. Please note that no single establishment can boats of having the lion share of the available market in this industry.
If you are considering starting your own clinic in the United States, then you should try and work around the industry barriers. The truth is that the barriers to entry into the plastic surgery industry is not as high as the healthcare and hospital industry.
It is absolutely compulsory for any investor who is looking towards starting a plastic surgery clinic to meet the required federal, state and local laws and regulations. Lastly, if you are determined to start your own plastic surgery clinic business in the United States, you are sure going to make headway especially if you are well – positioned and you know how to reach out to your target market.
2. Executive Summary
Jessica Landers® Plastic Surgery Clinic, Inc. is licensed cosmetics surgery clinic that will be located in a growing community in New York City – New York. We have been able to secure a standard facility in a central and easy to locate area in New York City and we are well equipped to carry out our services.
Jessica Landers® Plastic Surgery Clinic, Inc. is going to become the most preferred Plastic surgery clinic in the whole of New York City and we will work hard to build our clinic to meet the needs of the average client in and around our city. Our plastic surgery clinic facility has enough parking space to accommodate more than 15 cars per time.
Jessica Landers® Plastic Surgery Clinic, Inc. is in the industry to provide services such as laser hair removal, microdermabrasion, chemical peel, breast augmentation and reduction, liposuction and other cosmetics surgeries. We are well trained and equipped to service the market segments that require plastic and cosmetic surgery services.
We conducted a thorough research and feasibility studies and we came to the conclusion that New York City is the right place to start our clinic. Our major aim of starting Jessica Landers® Plastic Surgery Clinic, Inc. is to make cosmetic surgery accessible to the average person who is interested.
Jessica Landers® Plastic Surgery Clinic, Inc. will be open 24 hours in a day during weekends (Fridays to Sundays) and from 6:00 am to 12 midnight from Mondays to Thursdays. This is why we have made provisions to recruit enough staff and to run shift amongst our workforce.
Jessica Landers® Plastic Surgery Clinic, Inc. is a family owned business. The business will be managed by Dr. Jessica Landers; she is a qualified Plastic Surgeon with over 15 years’ experience working for celebrities and public figures as a leading plastic surgeon in the United States of America.
3. Our Products and Services
Jessica Landers® Plastic Surgery Clinic, Inc. provides all round cosmetic surgery services to residents of New York City which is why we have been able to put up a facility that can help us achieve the goal. These are the services that will be made available to our clients;
- Administering injectables and humectants (including Botox and Restalyne)
- Performing laser hair removal
- Performing microdermabrasion
- Performing chemical peels
- Performing breast augmentations
- Performing liposuction
- Performing eyelid surgery
- Performing rhinoplasty
- Performing abdominoplasty
4. Our Mission and Vision Statement
- Our vision is to become the number one choice when it comes to plastic and cosmetics surgery in the whole of New York City – New York and also to be amongst the top 10 plastic surgery clinics in the United States of America within the next 10 years.
- Jessica Landers® Plastic Surgery Clinic, Inc. is in business is to establish a first – class plastic surgery clinic that will take care of both highly placed and lowly placed clients as long as they can afford our services.
- We want to become one of the leaders in the industry in the whole of New York, and in the United States of America.
Our Business Structure
Jessica Landers® Plastic Surgery Clinic, Inc. is in business to become the leading community – based plastic surgery clinic in the whole of New York City and we are fully aware that it will take the right facility, management and organizational structure to achieve our goal.
Our business will not be built only for the purpose of giving our customers value for their money, but we will ensure that we make our work environment highly conducive for all our employees. We will provide them with facilities that will help them stay motivated.
In view of that, we have made provisions for the following positions to be occupied by highly qualified and experienced staff;
- Chief Plastic Surgeon (Owner)
- Cosmetic Surgeons
- Human Resources and Admin Manager
- Marketing and Sales Officer
- Front Desk/Customer Services Officer
5. Job Roles and Responsibilities
Chief Plastic Surgeon (Owner):
- 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
- Responsible for fixing prices and signing business deals
- Accountable for providing direction for the business
- Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for signing checks and documents on behalf of the company
- Evaluates the success of the organization
- Responsible for handling core services such as administering injectables and humectants (including Botox and Restalyne), performing laser hair removal, microdermabrasion, chemical peels, breast augmentations, liposuction, eyelid surgery, rhinoplasty and abdominoplasty
- Handles any other duty as assigned by the chief plastic surgeon
- Responsible for managing our patients
- Responsible for offering medication management services
- Assists the cosmetic surgeons in treating patients and carrying out surgeries
Marketing and Sales Officer (2)
- Identify, prioritize, and reach out to new clients, and business opportunities et al
- Identifies development opportunities; follows up on development leads and contacts
- Writing winning proposal documents, negotiate fees and rates in line with organizations’ policy
- Responsible for handling business research, market surveys and feasibility studies for clients
- Accountable for supervising implementation, advocate for the customer’s needs, and communicate with clients
- Documents all customer contact and information
- Represents the organization in strategic meetings
- Helps to increase sales and growth for the organization.
- 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 the organization
- Responsible for developing and managing financial systems and policies
- Accountable for administering payrolls
- Ensures compliance with taxation legislation
- Handles all financial transactions for the organization
- Serves as internal auditor for the organization.
Client Service Executive
- Welcomes clients and potential clients by greeting them in person or on the telephone; answering or directing inquiries.
- 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
- Manages administrative duties assigned by the chief executive officer in an effective and timely manner
- Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries.
- Responsible for cleaning the wards and clinic facility at all times
- Ensures that toiletries and supplies don’t run out of stock
- Handles any other duty as assigned by the admin and HR manager.
6. SWOT Analysis
Jessica Landers® Plastic Surgery Clinic, Inc. is in business to carry out cosmetics surgeries and at the same time to make profits. We are aware that there are growing competitions in the plastic cum cosmetics surgery industry which is why we took out time to conduct an effective SWOT Analysis before investing our hard-earned money into the business.
We know that if we get things right before starting our clinic, we will not have to struggle to attract loyal clients and build our clientele base to a level where we can breakeven in record time. We hired the services of a HR and Business consultant with bias in business structuring to help us conduct SWOT analysis for our company and he did a pretty good job for us.
Here is a of the result we got from the SWOT analysis that was conducted on behalf of Jessica Landers® Plastic Surgery Clinic, Inc.;
One of the obvious strengths that will definitely stand as a plus for Jessica Landers® Plastic Surgery Clinic, Inc. is the fact that our facility is centrally located in a densely populated residential area in New York City; our location is in fact one of our major strengths. We equally have a team of highly qualified professionals who will work with all our clients to achieve their aims of hiring our services.
We critically looked into our Business model and we were able to identify two major weaknesses. One is the fact that we are a new business and the second is the fact that we may not have the financial resources to match up with existing plastic surgery clinics in New York City when it comes to acquiring latest equipment and generating the needed hype that can drive traffic towards our clinic.
The opportunities available to players in this industry is that operators are expected to benefit from increasing regulation among competing industries. Although industry margins have grown, an increase in competition has slowed the rate of industry expansion and also an increase in the number of obesity-related surgical procedures is expected to take place during the period.
We are centrally located in an area with the right demographic composition for a business such as ours and we are open to all the available opportunities that the city has to offer. We will be open 24 hours in a day during weekends (Fridays to Sundays) and from 6:00 am to 12 midnight from Mondays to Thursdays giving us the advantage to leverage on any available opportunity.
Some of the threats that are likely going to confront Jessica Landers® Plastic Surgery Clinic, Inc. are unfavorable government policies, demographic/social factors, downturn in the economy which is likely going to affect consumers spending and lastly, the emergence of new competitors within the same location where our plastic surgery clinic is located.
Also, some services including Botox injections and laser hair removal, are performed by medical spas and clinics that do not operate in this industry. Such competition can hurt industry revenue and profit growth. External competition for plastic surgeons is expected to increase in 2019, representing a potential threat to the industry.
7. MARKET ANALYSIS
- Market Trends
The Plastic Surgeons industry has indeed benefited from recent marketing campaigns which is targeted towards helping people look good even when they are aging, as well as consumer trends toward transgender. Going forward, many people who are part of the baby boomers’ generation are expected to leverage on plastic surgery as they grow older.
The trend in the cosmetics surgery services industry is such that if a clinic is well positioned where people can easily access without much stress, there is a likelihood that they will enjoy high patronage. The plastic cum cosmetics surgery industry has recently begun consolidating, largely due to the pressures of healthcare reform.
The truth is that the demand for specialist health care services has steadily grown over the last five years, as healthcare reform legislation broadened insurance coverage and the plummeting unemployment rate increased disposable income.
Just like in other business ventures, the owners of plastic surgery clinics are always looking for ways to increase their market share; they go as far as signing deals with hospitals and other medical facilities.
As a plastic surgery clinic grows, it becomes necessary for them to develop new service offerings or install new facilities that will help them attract more people. Little wonder some clinics now retail cosmetic products within their facility. In order words, it is very important for these clinics to continue to improvise if they want to grow their business.
8. Our Target Market
The target market for plastic surgery clinics cuts across people of different walks of life. The fact that people patronize the services of cosmetics surgery clinics for various reasons makes marketing the business interesting. The target market for this business can be categorized into two groups.
The first group are the people who are looking towards correcting what they perceive as unpleasant in their body and the last group are those who would want to correct defects as a result of the accident.
Jessica Landers® Plastic Surgery Clinic, Inc. will work towards providing services, facilities and environment that will help us reach out to our target market. These are the category of people that we intend marketing our plastic cum cosmetic surgery services to;
- Corporate Executives
- Sport Clubs
- Government Officials
- Public Figures
- Sports Men and Women
- College Students
Our Competitive Advantage
It is a fact that the cosmetics surgery industry is indeed a prolific and highly competitive industry. Clients will only patronize your services if they know that you can help them achieve their desired looks.
Jessica Landers® Plastic Surgery Clinic, Inc. is capable of educating the wider community, adopting new technology and easy access for clients because we are centrally located in a densely populated – residential area in New York City; this is obviously going to give us an edge amongst our competitors. We equally have a team of highly qualified professionals (cosmetics surgeons) who will work with our clients.
Lastly, our employees 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 achieve all our business aims and objectives.
9. SALES AND MARKETING STRATEGY
- Sources of Income
Jessica Landers® Plastic Surgery Clinic, Inc. is established with the aim of maximizing profits in the Plastic Surgeons industry and we are going to ensure that we do all it takes to attract clients on a regular basis. Jessica Landers® Plastic Surgery Clinic, Inc. will generate income by offering the following services;
- Administering injectables and humectants (including Botox and Restalyne)
- Laser hair removal
- Chemical peels
- Breast augmentations
- Eyelid surgery
10. Sales Forecast
It is important to state that our sales forecast is based on the data gathered during our feasibility studies and also some of the assumptions readily available on the field.
It would be hard to create a sales forecast with a newly opened business because the statistics that will be provided will be on a short – term basis. Experts say that usually a business should be in operation for at least one year before they can generate the statistics that will help in accurate forecasting.
We expect to attend to about 130 people within our first year of operation and then in subsequent years we will grow our clientele base. Below are the sales projection for Jessica Landers® Plastic Surgery Clinic, Inc., it is based on the location of our facility and the services and products that we will be offering to our clients (members);
- First Fiscal Year (FY1): $1.2 million
- Second Fiscal Year (FY2): $2 million
- Third Fiscal Year (FY3): $4.5 million
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 competitor offering same services as we do within 5.0 miles’ radius from the location of our facility.
- Marketing Strategy and Sales Strategy
Our marketing strategies will be directed towards achieving specific objectives that support the strategic goals of the organization. The truth is that all that we do will be geared towards creating new market channels, increasing sales and our market share. We will leverage on improving on our services and facility to ensure that we win new clients and retain old ones.
Our unique selling proposition is that we are well positioned and people can easily access our facility, our prices are affordable and we have a complete package for groups. Part of the marketing and sales strategies that we will adopt are;
- Advertise our plastic surgery clinic on national dailies, lifestyle magazines, local TV and radio stations
- Promote our plastic surgery clinic online via our official website and all available social media platforms
- Introduce our clinic and the services we offer by sending introductory letters alongside our brochure to corporate organizations, households, celebrity circles and key stake holders in and around New York City
- Print out fliers and business cards and strategically drop them in offices, libraries, public facilities and train stations et al.
- Making our first impression count positively to those making use of our services for the first time
- Make use of attractive hand bills to create awareness and also to give direction to our clinic
- Adopt direct mailing coupon marketing approach
- Position our signage/flexi banners at strategic places
11. Publicity and Advertising Strategy
We have been able to work with our branding 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 whole of New York City which is why we have made provisions for effective publicity and advertisement of our services.
Below are the platforms we intend to leverage on to promote Jessica Landers® Plastic Surgery Clinic, Inc.;
- Place adverts on both print (community – based newspapers, beauty and lifestyle 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 brand
- Install our Bill Boards on strategic locations all around New York City – New York.
- Distribute our fliers and handbills in target areas
- List Jessica Landers® Plastic Surgery Clinic, Inc. on local directories / yellow pages
- Advertise our plastic surgery clinic and the services we offer 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 corporate logo et al.
12. Our Pricing Strategy
Our pricing system is going to be based on what is obtainable in the industry, we don’t intend to charge more (except for premium and customized services) and we don’t intend to charge less than what our competitors are charging in New York City.
Be that as it may, we have put plans in place to offer discount once in a while and also to reward our loyal customers especially when they refer clients to us.
- Payment Options
The payment policy adopted by Jessica Landers® Plastic Surgery Clinic, 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 Jessica Landers® Plastic Surgery Clinic, Inc. will make available to her clients;
- Payment via bank transfer
- Payment via credit cards
- Payment via online bank transfer
- Payment via check
- Payment via mobile money transfer
- Payment via bank draft
In view of the above, we have chosen banking platforms that will enable our client make payment for services rendered without any stress on their part.
13. Startup Expenditure (Budget)
In setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting/leasing a big facility, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.
This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business. The tools and equipment that will be used are nearly the same cost everywhere, and any difference in price would be minimal and can be overlooked.
As for the detailed cost analysis for starting a plastic surgery clinic; it might differ in other countries due to the value of their money. These are the key areas where we will spend our startup capital on;
- The total fee for registering the business in the United States of America – $750.
- Legal expenses for obtaining licenses and permits – $1,500.
- Marketing promotion expenses (8,000 flyers at $0.04 per copy) for the total amount of $2,000.
- The cost for hiring business consultant – $5,000.
- Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $30,800.
- The cost of accounting software, CRM software and Payroll Software – $3,000
- The cost for leasing facility for the plastic surgery clinic – $180,000.
- The cost for facility remodeling – $50,000.
- Other start-up expenses including stationery – $1000
- Phone and utility deposits – $3,500
- Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $40,000
- The cost for start-up inventory – $15,000
- Storage hardware (bins, utensil rack, shelves, glasses et al) – $1,720
- The cost for acquiring plastic/cosmetics surgery supplies and equipment – $400,000
- The cost for the purchase of furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, snooker board, clippers, tables and chairs et al) – $4,000.
- The cost of launching a website – $600
- Miscellaneous – $5,000
We would need an estimate of $1.5 million to successfully launch a standard plastic surgery clinic in New York City. It is important to state that the testing and evaluating expenses would be high because of the large amount of equipment needed to start up a plastic surgery clinic and also the sophistication of the technology used in the clinic.
Generating Funds/Startup Capital for Jessica Landers® Plastic Surgery Clinic, Inc.
Jessica Landers® Plastic Surgery Clinic, Inc. is owned by Dr. Jessica Landers and her immediate family members. They are the sole financier of the business which is why they decided to restrict the sourcing of the startup capital for the business to just three major sources.
These are the areas we intend generating our startup capital;
- 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 $500,000 (Personal savings $350,000 and soft loan from family members $150,000) and we are at the final stages of obtaining a loan facility of $1 million 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
Part of the plans we have in place to sustain Jessica Landers® Plastic Surgery Clinic, Inc. is to ensure that we continue to make available a wide range of services and deliver quality and unmatched services. We are not going to relent in providing a conducive environment for our workers and also the required trainings that will help them deliver excellent services at all times.
We are quite aware that our customers are the key component to the growth and survival of our business hence we are going to continuously engage them to give us ideas on how to serve them better. We will not waste time in adopting new technology, best practices and diversifying our services.
Jessica Landers® Plastic Surgery Clinic, Inc. will make sure that the right foundation, structures and 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 retraining of our workforce is at the top burner.
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. 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 Registration: Completed
- Opening of Corporate Bank Accounts: Completed
- Securing Point of Sales (POS) Machines: Completed
- Opening Mobile Money Accounts: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Purchase of Insurance for the Business: Completed
- Acquiring facility and remodeling the facility: In Progress
- Conducting Feasibility Studies: Completed
- Generating capital from family members: Completed
- Applications for Loan from the bank: In Progress
- writing of business plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents and other relevant Legal Documents: In Progress
- Design of The Company’s Logo: Completed
- Printing of Promotional Materials: In Progress
- Recruitment of employees: In Progress
- Purchase of the needed plastic cum cosmetic surgery supplies and equipment, electronic appliances, office appliances and suppliers: In progress
- Creating Official Website for the Company: Completed
- Creating Awareness for the business both online and in the neighborhood: In Progress
- Health and Safety and Fire Safety Arrangement (License): Secured