Are you about starting a robotic surgery company? If YES, here is a detailed sample robotic surgery business plan template & feasibility report you can use for FREE.
Immediately the Food and Drug Administration (FDA) approved Intuitive Surgical Inc.’s da Vinci surgical system in 2000, revenue for the Robotic Surgery Equipment Manufacturing industry went up with it. Robotic surgery equipment is most commonly used during complex surgical procedures that may be arduous to navigate without the use of 3D imaging that provides real-time feedback to surgeons. These technologies have become a staple in the US healthcare system.
Reports have it that more than 4,500 hospitals had installed da Vinci systems by December 2018. Healthcare providers and patients alike have favored robot-assisted surgery due to quicker patient recovery times, less blood loss and less pain. Over 5,000 surgical robots were used in more than 1 million procedures worldwide in the last year.
These procedures spanned orthopedics, urology, general surgery, gynecology, neurology, thoracic, otolaryngology, bariatric, rectal and colon, multiple oncologies – even dental implants and hair transplants. Robotic surgery is no longer seen as a technology of the future – it’s an active and effective technology of today.
A Sample Robotics Surgery Business Plan Template
- Industry Overview
According to industry data, the global robotic surgical procedures market was valued at USD 3,912.2 Million in 2017 and is expected to reach USD 13,271.6 Million by the end of 2025, showing a CAGR of 16.6 percent. Businesses in the robotic surgical systems market are specializing on constant innovation and upgrading their portfolio with new and advanced product offerings.
Meanwhile, a growing number of patients undergoing surgical procedures, rising shift of healthcare providers towards minimally invasive surgical procedures, and rising adoption of robotic surgical systems in developed and emerging countries are some of the key factors expected to drive the number of robotic-assisted surgical procedures being performed globally.
Also, the introduction of new and economical robotic surgical systems is projected to propel the growth of robotic surgical procedures in developed as well as emerging countries, subsequently driving the growth in the market during the forecast period 2018-2025. New application areas of robot assisted surgical procedures are one of the key prominent driving factors for the growth of the global robotic surgical procedures market in 2017.
Experts expect the gynecology segment to have the biggest market share among application types. Gynecology accounted for a market share of 28.7 percent in 2017. While, it differs in different regions as which procedure type is performed more, gynecology was estimated as largest preferred robot-assisted surgical procedure.
It is also important to state that the orthopedics application segment is projected to rise at a faster CAGR during forecast period. This speed is attributed to the rising number of new product introductions designed specifically for orthopedic procedures. Presently, there are a small number of orthopedic surgical procedures being performed using surgical robots, but this is expected to grow at a significantly high CAGR during the forecast period.
Reports have it that North America generated revenue of US$ 3,070.7 Mn in 2017, and is expected to account for a substantial share in the global robotic surgical procedures market during the forecast period. Note that the growth experienced in the region is likely to be driven by increase adoption and growing application areas of robot-assisted surgeries.
In developed countries, the penetration of robotic surgical systems is increasing along with the number of surgical procedures being performed.
Meanwhile, in emerging countries such as india and China, the adoption of surgical robots is fueling the growth in the market during forecast period. In Asian countries like China and India, the robotic surgical systems are mostly used for urology. But, the adoption in other application areas such as orthopedic, neurology, general surgery, and gynecology is also booming.
Table of Content
- Robotic Surgery Business Plan – Executive Summary
- Robotic Surgery Business Plan – SWOT Analysis
- Robotic Surgery Business Plan – MARKET ANALYSIS
- Robotic Surgery Business Plan – Publicity and Advertising Strategy
- Robotic Surgery Business Plan – Financial Projections and Costing
- Robotic Surgery Business Plan – Sustainability and Expansion Strategy
Robotic Surgery Business Plan – Executive Summary
Meditech, Inc. is a medical robotics manufacturing company that plans to design, patent, and market medical robotic devices related to endoscopic surgical niche markets. We at Meditech, with the participation of renowned physicians and surgeons in gastroenterology have already designed two devices.
Five patents are initially incorporated. Robotic surgery equipment are most commonly used during complex surgical procedures that may be nearly impossible to navigate without the use of 3D imaging that provides real-time feedback to surgeons. With our well planned business strategy, we project $21 million in sales in year three and an impressive $65 million in revenue by year five.
We have successfully submitted patent applications for our first two market entries leveraging a top patent law firm. We will also strive to win low interest loans and grants from the government of the USA totaling $1.8 million in our first year.
Meditech Inc. is currently located at Downtown Water front district Rochester, Minnesota. Our office is presently leased month-to-month on a temporary basis. This business plan calls for the establishment of corporate offices, R&D facilities, and prototype and small-run manufacturing facilities.
Note that these facilities are to be located in Rochester with 10,000 sq. ft. initially expandable to 25,000 sq. Ft. Our market segments at Meditech are explicitly defined and all are subject to a high growth trend.
Reports have it that one of our key markets is expected to surpass $430 million in the next few years. One of our founders at Meditech was part of the team that designed the current market leader in that field and has improved upon the product significantly. A new and innovative design has been created to answer the needs of surgeons.
From our extensive research, this market is expected to begin at $14 million but could expand to several hundred million as soon as approvals are obtained for varied surgical procedures. We also plan to license this technology to a large company. We hopefully expect Meditech to become profitable in year one only if a proposed licensing agreement can be closed.
- Our Products and Services
We at Meditech Inc. will develop and market endoscopic medical devices using various distribution channels both foreign and domestic. We are currently developing our patent-applied technologies to the final product. We also plan to establish our brand and corporate identity in the medical products field. All our product areas may be more generally defined as follows:
- Endoscopy Devices: There are used for esophageal variceal ligation, hemorrhoidal ligation. Mainly consisting of ligating bands with greater stretch ability and grip (Super-Elastic bands incorporated into a multi-band dispensing device).
- Endoscopy Devices: These devices are used for lysis (tissue dissolving). Mainly consisting of a rotary cutting tool to clear fundal pools of blood in the stomach.
- Endoscopy Devices: Mostly used for suction/irrigation and tissue removal. Mainly consisting of a suction/irrigation tool to remove tissue effectively.
Our Vision Statement
Our vision at Meditech Inc. is to provide products and services of uncompromising quality and to comfortably achieve a 25 percent market penetration in the endoscopic variceal ligation market by year five.
- Our Mission Statement
Our mission at Meditech Inc.is to design, develop, and market new patented technologies in the medical robotics and equipment field. All our technologies at Meditech will compliment market niches that each account for a minimum of $14 million dollars in potential sales.
Every of our technology will take care of a current need in medical procedure by improving upon an existing technology or device, or by designing a device to serve a need that is clearly defined and acknowledged by medical professionals.
- Our Business Structure
Meditech is a medical robotics manufacturing firm founded by Alice Shaw and Anthony Miller. Alice will serve the company as Vice-President of Research & Development. Anthony will serve as Vice-President of Corporate Development. We are presently actively seeking several key people, including a CEO.
Our desired profile is for a CEO experienced in the medical device arena, ideally who was part of a previous start-up venture that grew to exceed a minimum of $14 million in sales and had a successful exit strategy. The CEO will help to identify and bring in a VP of Sales and Marketing).
Alice will handle responsibility for R&D, design, compliance, and initial manufacturing and sourcing. Anthony will handle strategic growth plans, capitalization, and serve as CFO initially. Also, design engineers and compliance documentation personnel will all report to Alice. We plan to let some of these portfolios be handled by outside consultants in the early going. The ramp-up of essential personnel and tasks are outlined below.;
- Chief Executive Officer
- Vice-President of Research & Development
- Vice-President of Corporate Development
- Vice President Sales and Marketing
- Design engineers
- Client Service Executive
Roles and Responsibilities
Chief Executive Officer
- Tasked with building the firm’s effectiveness by recruiting, selecting, orienting, training, coaching, counselling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results
- Tasked with providing direction for the business
- Will also be tasked with 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.
- Tasked with signing checks and documents on behalf of the company
- Evaluates the success of the organization
Vice-President of Research & Development
- Works as the project manager of the organization; works directly with employees
- Tasked with designing advertising concepts and winning business proposals for the organization
- Tasked with copy writing and laying out chronological business plans
- Tasked with developing strategic plan by studying technological and financial opportunities; presenting assumptions; recommending objectives.
- Tasked with accomplishing subsidiary objectives by establishing plans, budgets, and results measurements
- Tasked with building company image by collaborating with customers, government, community organizations, and employees; enforcing ethical business practices.
- Obligated to maintain quality service by establishing and enforcing organization standards.
- Tasked with maintaining professional and technical knowledge by attending educational workshops; reviewing professional publications; establishing personal networks; benchmarking state-of-the-art practices; participating in professional societies.
- Tasked with making sure that the organization work in line with international best practices.
Vice President Sales and Marketing
- Tasked with handling media planning, buying & representation
- Tasked with creating advertising campaigns
- Tasked with disseminating advertising campaigns through available mediums, such as TV, Radio and periodicals et al
- Tasked with handling core digital services such as brand affinity, banner advertising, video advertising, rich media advertising, sponsorship advertising, classifieds/directories, lead generation, mobile messaging/email, digital display advertising, mobile advertising, social media management
- Handle other related media and advertising advisory and consulting services
Vice-President of Corporate Development
- Tasked with overseeing the smooth running of HR and administrative tasks for the organization
- Will have to define job positions for recruitment and managing interviewing process
- Tasked with carrying out induction for new team members
- Tasked with training, evaluation and assessment of employees
- Obligated to model demographic information and analyze the volumes of transactional data generated by customer
- Should be able to identify development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
- Writing winning proposal documents, negotiate fees and rates in line with organizations’ policy
- Tasked with handling business research, market surveys and feasibility studies for clients
- Create new markets cum businesses for the organization
- Empower and motivates the sales team to meet and surpass agreed targets
- Tasked with preparing financial reports, budgets, and financial statements for the organization
- Tasked with providing the company management with financial analyses, development budgets, and accounting reports
- Tasked with financial forecasting and risks analysis
- Should be able to perform cash management, general ledger accounting, and financial reporting for one or more properties
- Tasked with developing and managing financial systems and policies
- Tasked with administering payrolls
- Ensuring compliance with taxation legislation
- Handles all financial transactions for Meditech Inc.
- Serves as internal auditor for Meditech Inc.
- Tasked with creating content for the organization as it relates to manufacturing and product offerings
- Tasked with Search Engine Optimization (SEO)
Client Service Executive
- Tasked with welcoming clients and potential clients by greeting them in person, online or on the telephone; answering or directing inquiries.
- Makes sure 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 creative director 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 are supplied to clients when they make enquiries.
Robotic Surgery Business Plan – SWOT Analysis
From our extensive research, large companies with established brand names and distribution patterns have a distinct advantage in this field. Product cost in and of itself is not paramount but education and training are. We believe that every product must deliver performance as promised in order to do a procedure more effectively with the fewest complications.
We’ve taken our time to analyze our strengths and weakness in our market. After thorough analysis and hard work from our management, we at Meditech Inc. present a summary of our SWOT Analysis;
- The Initial capitalization acquired.
- All patent applications filed.
- Our company’s ability to generate early revenue from non-regulated markets outside the united states.
- Licensing at least one technology and application to a major medical device corporation.
- Obtaining low interest loans and/or grants to fully fund product development and prototype manufacture.
- Recruiting top-notch CEO prior to second round financing and market roll-out.
- Successful implementation of sales and marketing plan to U.S. managed care market to obtain a minimum 15 percent market share in the second full year to generate $21 million in revenue.
- Increased product development and continued market share gains to produce a $65 million revenue company by year five.
A rapid increase in the trade-weighted index indicates the appreciation of the US dollar. As a result, robotic surgery equipment manufactured domestically becomes relatively more expensive for global downstream markets. In 2019, the trade-weighted index is expected to increase, posing a potential threat to industry operators.
Health insurance coverage is a key variable in determining patients’ access to robotic surgery. Many health insurance providers, including Medicare, cover minimally invasive procedures such as robot-assisted surgery. Furthermore, Medicare may reimburse hospitals’ purchase of robotic surgery equipment, which it considers a capital expense for critical-access hospitals. In 2019, federal funding for Medicare and Medicaid is expected to increase, representing a potential opportunity for industry operators.
According to our SWOT analysis, the slow adoption rate of new technologies and products does not favor our intended products and services at Meditech Inc. It also noted that raising the funds we need to build our business will be another threat that will limit our success.
Robotic Surgery Business Plan – MARKET ANALYSIS
- Market Trend
According to reports, Intuitive Surgical Inc., emerged as the leading player with the highest market share in 2017, as the company has highest installed base of its flagship product da Vinci surgical system. Note that a significantly high installed base in the U.S. and other European countries have been the key for the company.
In addition, Intuitive Surgical Inc., is continuously getting approvals for new application areas for da Vinci surgical system. Other players operating in the robotic surgical procedures market are Zimmer Biomet, Stryker Corporation, Medtronic, Smith & Nephew, Accuracy Incorporated, CMR Surgical Ltd., Avatera Medical GmbH, Verb Surgical Inc., etc.
We also noted that the health care industry in the United States has been dominated by managed care and hospital buying groups. Lowest total cost treatment has been the evolution of the pricing model. We are ideally positioned to capitalize on this trend.
There has been a rapid trend to endoscopic variceal ligation from the previous norm of sclerotherapy for the following reasons: fewer post-op complications, better control of bleeding, lower risk of re-bleeding and reduction of over-all treatment cost.
We also believe that the two key factors influencing discussion of Meditech Inc.’s market are the medical procedures and product usage statistics and the customer or chain of distribution considerations. But in both cases, the trends are upwards in the favor of our company.
- Our Target Market
Our target market at Meditech, Inc. is both domestic and foreign. Our domestic customers’ consist of managed care groups, hospital buying groups, physician groups, independent physicians, and other (catalogues) and medical supply houses. The market is dominated by managed care groups. More than 65 percent of all purchases of medical devices are made by these groups and that is forecast to reach 80 percent by the year 2023.
Our foreign market includes many of the above segments but also includes key distributors. For instance, only four distributors are required to penetrate the European, Middle Eastern, African, Central and South American and Japanese markets. These distributors have already been identified.
Our plans for future development at Meditech include additional ideas and technologies to be created by Alice Shaw VP of R&D for Meditech. Also, Meditech may seek to acquire technologies developed by others once it attains sufficient capitalization to do so.
It is our dream and objective at Meditech to both innovate and market our products. Once an industry reputation has been achieved and marketing channels opened expansion into other medical device areas becomes potentially rewarding.
We at Meditech, Inc. boost of various potential product sources. One potential source for additional research and design help and compliance is QuickHealth Supplies in Tulsa. We will perform final assembly and distribution from our own facility in Rochester or leverage contract manufacturing depending on the extent of financial support from the government of Minnesota.
Alfredand Noni is the patent attorney for Meditech, Inc. Four patents have been authored and filed. All patents take into account both offensive and defensive postures in their claims. Without any single doubt, opinion of legal counsel is strong and firm that all of our patent applications are enforceable and defensible.
We have taken time to take into account all potential claims of the inventions as well as to protect them from possible competition from other technologies (including inferior ones). Note that all patent application documents are available for examination by potential investors. Also available is the assignment of all patents in the medical device field by Alice Shaw to Meditech, Inc.
The first two patents listed above relate to the Endo-Band. The last two relate to the Endo-Gator. Trademark application has been filed on the name Meditech. Trademark applications are in process on the names Endo-Band, Endo-Gator, and Endo-Lyser. No conflicts or other use of these names has been found in an initial search.
- Sales and Marketing strategy
We at Meditech believe that sales and marketing will follow from industry and trade and physician awareness campaigns to specific executions directed at specific customer segments. We envisage a top tier of 15 to 45 customers in each segment will be attacked first. Just a few sales hits in these top tiers will enable achievement of targeted forecasts.
We at Meditech will achieve our initial sales goals from direct and distributed sales of the Endo-Band. Note that this product is targeted first since it is an existing, well-defined market and 510k approval is expected. Worldwide sales through distributors will provide needed cash flow. We plan to use the following strategies to reach our targeted audience;
- Make use of a direct marketing approach
- Promptness in bidding for supplies contracts from the government and other healthcare organizations
- We will also advertise our business in relevant healthcare magazines, newspapers, TV and radio stations
- Meditech Inc. will introduce our company by sending introductory letters alongside our brochure to individuals, healthcare facilities and major shareholders in healthcare chains.
- We plan to list our business on yellow pages ads (local directories)
- Attend relevant international and local expos, seminars, and fairs et al
- We also plan to create different packages for different category of clients in order to work with their budgets and still deliver excellent services
- We will make use of the internet to promote our business
Robotic Surgery Business Plan – Publicity and Advertising Strategy
We at Meditech believe that public relations and industry media will help in over-all industry awareness. Feature articles and product reviews will help launch awareness. Direct mail to buying groups and ads in trade publications will help with buyer impressions. Also, all will be integrated with physician materials and training video tapes once approval has been obtained to increase point-of-surgery usage.
Our management has already worked closely with physicians to design our products. The benefit of working with physicians is well known. As an outgrowth of our Physician Advisory Board, Meditech will actively recruit allied physicians with sponsored events and seminars. Every major market area will be targeted. An annual event will also be sponsored. Listed out below are other strategies we hope to leverage on to promote and advertise Meditech Inc.;
- We will list Meditech Inc. in local directories / yellow pages
- We also plan to create an official website and employ strategies that will help us pull traffic to the site.
- We will also distribute our fliers and handbills in target areas
- We plan to contact healthcare institutions all around Minnesota
- Ensure that all our staff members wear our branded uniforms and all our vehicles are well branded with our company logo et al.
- We will place adverts on both print (newspapers and magazines) and electronic media platforms
- We will also sponsor relevant community based events / programs
- We will also make use of the internet and social media platforms like; Instagram, Facebook , twitter, YouTube, Google + et al to promote our services
- We also plan to mount our billboards in strategic locations all around Rochester.
Sources of Income
We at Meditech will generate income by designing and marketing endoscopic medical devices using various distribution channels both foreign and domestic. We are currently developing our patent-applied technologies to final product and approval stage.
We also plan to establish our brand and corporate identity in the medical products field. We at believe that our source of revenue will include direct wholesale sales to international distributors. Sales materials, video training tapes, and support materials will be produced. Physician materials will be included.
Direct sales will be by personal contact, direct mail, public relations, and media directed at key industry segments. In addition, electronic marketing will be deployed whenever it fits with the buying patterns of a key group. A website and electronic commerce site will be utilized to cultivate direct sales to key industry groups.
- Sales Forecast
Our sales forecast at Meditech includes small unit sales into the international market. The product is the Endo-Band. Unit sales are at $1,450 US. Product cost of direct sales is 35 percent while product cost through distributors is 60 percent. It is important to note that $350,000 license fee and $450,000 advance royalties are the target figures for a license on the Endo-Gator.
If these figures are not attainable or turn out to be a lesser number (but still acceptable to the Meditech board) then they should not be considered for cash flow purposes. Note that the investment money sought for Meditech will still be based on a sales forecast that does not include a successful license sale. Outlined below is the sales projection for Meditech Inc.;
- First Fiscal Year: $5,620,000
- Second Fiscal Year: $16,280,000
- Third Fiscal Year: $21,050,000
Our Pricing Strategy
The pricing for our Endo-Band is $1,450 per unit. Terms are 5 percent 10 days, net 35. All collections in this plan for cash flow purposes are based on an average 45 day collection span. Also, our 80 percent gross margin allows for factoring receivables if that should become viable or necessary.
A 25 percent discount will be offered to distributors. Quantity discounts are not included but remain possible in negotiations with major buying groups. Meanwhile, our Endo-Gator is priced in two components: The motorized unit at $2,340, while the cutting/irrigation/suction component at $1,200 (disposable).
It also important to note that all these are suggested retail prices. They represent ten times our estimated cost of manufacture. However, the strategy is to license these products for a 10 percent royalty. Pricing would be negotiated with the licensee.
- Payment Options
We at Meditech Inc. know how crucial it is to maintain varieties of payment methods for clients. We are ready to provide a wide range of payment methods to suit our clients. We hope to make our business dealings so simple and comfortable for our customers. We’ve also employed the use of a banking platform to help us provide all the services we will be offering below.
- Payment by via bank transfer
- Payment via online bank transfer
- Payment via check
- Payment via bank draft
- Payment via mobile money
Robotic Surgery Business Plan – Financial Projections and Costing
The key elements in our financial projections for Meditech are the legal expense for filing all patent applications, the establishment of Corporate Identity, the location and place of doing business, funding of additional capital raising alternatives, salary for the two key managers and founders and the cost of formulation of Strategic Plan.
We’ve taken our time to analyze our market and we expect the cost of equipment to be the same price all over the United States, and any difference will surely be little enough to be overlooked. Outlined below is a detailed cost analysis of starting Meditech Inc.;
- Incorporating fees in the United States of America will cost – $750.
- The budget for Liability insurance, permits and license will cost – $800,000
- Leasing/renting a corporate office, R&D facility, and prototype and small-run manufacturing facility – $450,000.
- The cost for furnishing and equipping the office (computers, printers, projectors, markers, servers / internet facility, furniture, telephones, filing cabinets, and electronics) will cost – $94,000
- The amount required to purchase the needed software applications – $3,500
- Launching an official Website will cost – $500
- Our budget for advertising and publicity – $40,000
- The amount needed to pay bills and staff members for at least 2 to 3 months – $70,000
- Additional Expenditure such as Business cards, Signage, Adverts and Promotions will cost – $5,000
- Research and Development fund: $2,000,000
- Miscellaneous – $10,000
From the above cost analysis, we need about $1,600,000 plus & $2,000,000 for research and development to start Meditech Inc.
Generating Funding/Startup Capital for Meditech Inc.
$2,600,000 was raised from the initial two investors for startup purposes. This funding came in in early 2019 and the startup tasks have either been completed successfully or are in the final process of completion. These are treated purely as start-up expenses by this plan. $1,600,000 is treated as cash-on-hand as of the start of this plan on September 1, 2019.
The remainder of the start-up capital required as well as capital required for the continuation of operations in the first six months will be provided by selling the shares in the private placement. The capital obtained from these sales is projected to total an additional $980,000 and the plan calls for this cash to be infused in January and February, 2020.
Robotic Surgery Business Plan – Sustainability and Expansion Strategy
We at Meditech Inc. plan to make our human resources element a crucial component in the delivery of the total service. We believe that by having enthusiastic, capable, and empowered people interacting with our clients, we can build the competitive advantage of being able to comprehensively meet our clients’ needs.
We also note that the major companies in the endoscopic device field directly competitive with Meditech proposed products are Stryker Corporation, Medtronic, Smith & Nephew, and Accuracy Incorporated. No manufacturer has a product competitive with the Endo-Gator although a company like M &B could be a likely joint venture partner or licensee.
Although, buying methods are diverse, and there is significant overlap of decision making between these segments. That is why it is crucial that we have an experienced CEO and an experienced Sales and Marketing Manager to effectively attack these channels.
We also realized that the distribution patterns in the health care industry are such that the large buying groups dictate what products are used for certain procedures throughout their sphere of influence. It simply means that our products could be mandated or forced out for thousands of patients due to their health plan or hospital group.
Others recommend several alternatives which require physician education and intervention, similar to pharmaceuticals. Our sustainability strategy at Meditech is to create foreign markets on a limited basis at the end of 2020. Then to grow both markets in 2022 up to a 15 percent penetration.
Also, the strategy is to license the Endo-Gator to a major company such as M&B due to its growing regulatory requirements and initial marketing costs due to the fact that it is a new segment entry. Meanwhile, our objective at Meditech for the license is a $350,000 fee, $450,000 in advance royalties and a 10 percent royalty level per unit. Royalty projections are included in 2020 and 2021 sales forecasts.
We also plan to initiate the growth of the company to 42 employees in the first three years. The third year could require a few additional people besides those indicated especially if sales reach or exceed $21 million. Production assembly people are grouped together at approx. $15k per person. Payroll costs and benefits are pegged at 31 percent although they could be lower in Rochester.
- 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
- Application for business license and permit: Completed
- Purchase of Insurance for the Business: Completed
- Conducting Feasibility Studies: Completed
- Leasing, renovating and equipping our facility: Completed
- Generating part of the startup capital from the founder: Completed
- Applications for Loan from our Bankers: In Progress
- writing of business plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents: In Progress
- Design of The Company’s Logo: Completed
- Printing of Promotional Materials: Completed
- Recruitment of employees: In Progress
- Purchase of software applications, furniture, office equipment, electronic appliances and facility facelift: In progress
- Creating Official Website for the Company: In Progress
- Creating Awareness for the business (Business PR): In Progress
- Health and Safety and Fire Safety Arrangement: In Progress
- Establishing business relationship with banks, financial lending institutions, vendors and key players in the industry: In Progress