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Do you want to start Urgent Care services business plan?
Do you want to write a business plan for urgent care center? It can be a great choice to start a business in this domain. However, in order to learn how to start an urgent care center, you will need to go through many business plans like nursing business plan etc. for guidance.
Even though starting this venture is relatively easy, you still need a business plan for bank to get necessary loans. This business requires a little bit of information about urgent care and a basic understanding of how urgent care centres operate. If you want to increase your knowledge about this business, you can read this business plan for SOS Services.
Executive Summary
2.1 The Business
SOS Services will be started and owned by Daniel Friedman. The main aim of this business is to provide urgent health care services to those in need in the Chicago area. The company will offer a wide range of services, from treating the common cold to vaccinations and treating minor injuries.
2.2 Management of Urgent Care Services Company
Before opening an urgent care clinic, you need to ensure that all your affairs are in order. For this, you will need to write an urgent care business plan. In your urgent care business plan sample, you need to include all the technical and financial details related to your business along with the resources you possess.
You can either hire business plan writing services or you can refer to the business plans available online such as business plan for a medical clinic, etc. A good business plan for urgent care center will tell you how to start a medical clinic business.
In the following business plan for urgent care center, you will find all the details necessary for starting your own urgent care centre, including urgent care start up checklist etc.
2.3 Customers of Urgent Care Services Company
Since every human needs urgent care at one time or another, our customers will belong to a wide variety of domains. The primary customers of SOS Services are as follows:
- Residential Community
- Sports Facilities
- Educational Facilities
- Injured People
2.4 Business Target
The main target of SOS Services is to become the most reliable and trustworthy urgent care centre in the broader Chicago area.
The financial targets that we want to achieve after two years are mentioned below:
Company Summary
3.1 Company Owner
SOS Services will be owned and managed by Daniel Friedman, who completed his MBA three years back and finished a diploma in Medical Assisting Services. After his academics, Daniel wanted to start his health care centre that would provide urgent care services to people in and around Chicago.
3.2 Why the Urgent Care services company is being started
Daniel noticed the lack of urgent care services available at the time of need in his hometown Chicago. Therefore, he set out to change this and establish his urgent care centre to provide health care services to all in need without discrimination. And that is how SOS Services came into being.
3.3 How the Urgent Care services company will be started
Step1: Plan Everything
Before starting an urgent care practice, the initial step is to plan for everything. This includes reading numerous business plans for urgent care center like care agency business plan to develop your own sample business plan for urgent care clinics. Daniel decided to offer a wide variety of healthcare services as a part of his urgent care startup. Therefore, you can use this urgent care business plan pdf for writing a good business plan for your own company. You will also need to go through the urgent care procedures manual to figure out the details about the services your business will provide.
Step2: Define the Brand
One of the essential steps in starting a company is to attract your customers. Your business cannot prosper without proper attention from the customers. You can gain this attention by defining a brand for your company that will appeal to your customers and then marketing this brand.
Step3: Establish Your Corporate Office
Daniel decided to rent out three joined offices to start his business. He will now start looking at different equipment and building up his business inventory.
Step4: Establish a Web Presence
Web presence is an essential aspect of the success of a business. Daniel decided to reach out to his customers through social media and a website that he will not get developed for SOS Services. This way, people can contact his company at any time they need.
Step5: Promote and Market
The final step to establishing a company is developing a good marketing plan to promote your services.
| Start-up Expenses | |
| Legal | $136,500 |
| Consultants | $0 |
| Insurance | $23,000 |
| Rent | $36,600 |
| Research and Development | $10,000 |
| Expensed Equipment | $56,000 |
| Signs | $3,400 |
| TOTAL START-UP EXPENSES | $265,500 |
| Start-up Assets | $288,400 |
| Cash Required | $209,000 |
| Start-up Inventory | $39,000 |
| Other Current Assets | $240,000 |
| Long-term Assets | $287,000 |
| TOTAL ASSETS | $1,063,400 |
| Total Requirements | $1,328,900 |
| START-UP FUNDING | |
| Start-up Expenses to Fund | $265,500 |
| Start-up Assets to Fund | $1,063,400 |
| TOTAL FUNDING REQUIRED | $1,328,900 |
| Assets | |
| Non-cash Assets from Start-up | $1,390,800 |
| Cash Requirements from Start-up | $162,000 |
| Additional Cash Raised | $50,000 |
| Cash Balance on Starting Date | $35,000 |
| TOTAL ASSETS | $1,637,800 |
| Liabilities and Capital | |
| Liabilities | $18,000 |
| Current Borrowing | $0 |
| Long-term Liabilities | $0 |
| Accounts Payable (Outstanding Bills) | $58,000 |
| Other Current Liabilities (interest-free) | $0 |
| TOTAL LIABILITIES | $76,000 |
| Capital | |
| Planned Investment | $1,328,900 |
| Investor 1 | $0 |
| Investor 2 | $0 |
| Other | $0 |
| Additional Investment Requirement | $0 |
| TOTAL PLANNED INVESTMENT | $1,328,900 |
| Loss at Start-up (Start-up Expenses) | $232,900 |
| TOTAL CAPITAL | $1,561,800 |
| TOTAL CAPITAL AND LIABILITIES | $1,637,800 |
| Total Funding | $1,328,900 |
Services
Before opening an urgent care clinic, you need to filter the services you will provide to your customers. That way, you can plan your business in a better way.
A good urgent care clinic business plan will include the details of all your services. It will help you organize your business when you open an urgent care center. You can refer to an urgent care business plan sample or a related document such as a business plan for senior day care center to get a better idea of the scope of services your business will offer. You can also use this urgent care business plan model as a guide. Here, we are describing the services provided by SOS Services.
- Vaccinations
We will offer vaccinations for all diseases ranging from flu vaccines to vaccines for international travel etc. We will provide full-time services for most basic vaccination shots without an appointment. At the same time, specific vaccinations will need to be scheduled beforehand.
- General Treatment
SOS Services will cover the treatment for general colds, flu or minor injuries. Our care centre will handle all minor injuries and refer a patient to a hospital if the issue needs a more thorough checkup. So If someone is suffering from an everyday injury or ailment, they can walk right into our care centre and get checked up.
- Physicals
Our care centre will also provide day clinics for schools and sports facilities where customers can get a check up and get treated for minor injuries.
- Emergency Services
Our last service will be emergency services. If someone has suffered an accident or is suffering from a bad ailment, we will provide primary treatment to keep the person well until they can be transported to a full-scale hospital.
Marketing Analysis of Urgent Care Services Company
When opening an urgent care practice, you need to know your target market in-depth. Information about the target market of an urgent care start up means you should know your customers and your competitors. One way to get comprehensive knowledge about them is to conduct a marketing analysis while making your urgent care business plan sample. This way, an urgent care center business plan will guide you in organising your business.
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If you are just learning how to start an urgent care center and don’t know what a marketing analysis should include, you can use this urgent care business plan pdf as a guide. This document contains all the details for SOS Services, including customer groups, urgent care staffing models and financial plans.
Alternatively, you can also use other business plans for urgent care center for reference, such as a daycare center business plan.
5.1 Market Trends
According to Business Insider, there are more than 8000 urgent care centres in the US, and the number is steadily increasing. And according to IBISWorld, the urgent care industry holds a $38.5 billion market. As urgent care centres are much cheaper than hospitals, people prefer going to an urgent care centre nearby. This means that opening an urgent care centre is an excellent idea because their need is not declining anytime soon.
5.2 Marketing Segmentation
The target customers of SOS Services are divided into the following groups:
Business plan for investors
5.2.1 Residential Community
Our main target customers will be the residents living in and around Chicago. We expect to receive a lot of customer traffic, especially from suburbs, as they are more likely to have children getting a few scrapes, cuts and bruises every day that require primary treatment.
5.2.2 Sports Facilities
Our second target customers will be sports facilities in our vicinity to whom we can provide one-day clinics and regular physicals. We expect to receive a significant number of customers from this customer group.
5.2.3 Educational Facilities
This will be our third target group of customers. Educational facilities usually need healthcare officials who can take care of minor injuries and ailments. We can provide them with our services during school time and hold day clinics for regular checkups and vaccinations.
5.2.4 Injured People
Lastly, we will also extend our services to providing urgent care to people who have gone through a trauma or accident.
| Market Analysis | |||||||
| Potential Customers | Growth | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | CAGR |
| Residential Community | 29% | 29,900 | 35,880 | 43,056 | 51,667 | 62,001 | 10.00% |
| Sports Facilities | 27% | 26,800 | 32,160 | 38,592 | 46,310 | 55,572 | 10.00% |
| Educational Facilities | 24% | 26,700 | 32,040 | 38,448 | 46,138 | 55,365 | 10.00% |
| Injured People | 20% | 23,300 | 27,960 | 33,552 | 40,262 | 48,315 | 11.00% |
| Total | 100% | 106,700 | 128,040 | 153,648 | 184,378 | 221,253 | 10% |
5.3 Business Target
- To become the most trustworthy and reliable urgent care center in Chicago.
- To slowly expand our reach and establish more urgent care centres in other US states.
- To earn a net profit of around $ 25k/month by the end of the second year.
- To achieve and maintain patient satisfaction above 95%.
5.4 Product Pricing
Our prices will be less than the clinics and healthcare centres around us. However, we will offer only urgent care services, and for any extensive treatment, the patients will be referred to our partner hospitals.
Marketing Strategy
To get attention amongst your competitors in the market, you need to find competitive advantages that will put you at the top. Your urgent care business model needs to include these advantages and highlight how you will use them to gain customers.
If you don’t know how to open an urgent care clinic or how to find your plus points, you can use this urgent care business plan for sale. You can also look at other plans, such as a child care center business plan.
Your competitive advantages should be a part of the marketing strategy for your business. Here, we have detailed the marketing strategy for SOS Services.
6.1 Competitive Analysis
- We have excellent patient care. All our patients will get checked in under an hour.
- Our patients can reach out to us at any time through our contact, social media or website.
- Our patients can book their appointments with us beforehand through our website so that they don’t have to wait in long lines.
6.2 Sales Strategy
- We will advertise our company through banners, posters, word of mouth and social media.
- We will offer reduced rates to deserving people looking for healthcare.
- We will offer free physicals to our regular customers.
6.3 Sales Monthly
6.4 Sales Yearly
6.5 Sales Forecast
Personnel plan
Opening an urgent care center involves hiring good health care employees as well. The success of a health care startup is heavily reliant on good specialists and nurses. Therefore, Daniel decided to implement a strict filtering policy when hiring employees. And he also made this policy a part of his business plan for urgent care center.
7.1 Company Staff
- 1 Manager to help in running the setup
- 3 Certified Residential Medical Professionals
- 3 Certified Nurses
- 3 General Cleaners
- 1 Technician to upkeep medical machinery
- 1 Web/ Social Media Manager
- 1 Accountant
- 2 Ambulance Drivers
- 1 Receptionist
7.2 Average Salary of Employees
| Personnel Plan | |||
| Year 1 | Year 2 | Year 3 | |
| Facility Manager | $65,000 | $71,500 | $78,650 |
| Medical Professionals | $99,000 | $108,900 | $119,790 |
| Nurses | $82,000 | $90,200 | $99,220 |
| Cleaners | $43,000 | $47,300 | $52,030 |
| Technician | $23,000 | $25,300 | $27,830 |
| Web Manager | $22,000 | $24,200 | $26,620 |
| Accountant | $20,000 | $22,000 | $24,200 |
| Ambulance Drivers | $45,000 | $49,500 | $54,450 |
| Receptionist | $22,000 | $24,200 | $26,620 |
| Total Salaries | $421,000 | $463,100 | $509,410 |
Financial Plan
Urgent care startup costs can be a lot if you are just starting. To ensure that these costs don’t break your bank, you need to develop a financial plan for your business. You can look at urgent care center example budget to get a better idea of how much starting this business will cost you. Your financial plan will help guide your business so that you don’t go bankrupt and your business doesn’t fail. You will need to carry out a detailed financial analysis to estimate your expenses and decide your services’ price. Below, we have described the financial plan for SOS Services.
8.1 Important Assumptions
| General Assumptions | |||
| Year 1 | Year 2 | Year 3 | |
| Plan Month | 1 | 2 | 3 |
| Current Interest Rate | 8.12% | 8.20% | 8.26% |
| Long-term Interest Rate | 8.40% | 8.44% | 8.47% |
| Tax Rate | 24.03% | 24.21% | 24.60% |
| Other | 0 | 0 | 0 |
8.2 Break-even Analysis
| Break-Even Analysis | |
| Monthly Units Break-even | 5340 |
| Monthly Revenue Break-even | $132,500 |
| Assumptions: | |
| Average Per-Unit Revenue | $231.00 |
| Average Per-Unit Variable Cost | $0.62 |
| Estimated Monthly Fixed Cost | $163,800 |
8.3 Projected Profit and Loss
| Pro Forma Profit And Loss | |||
| Year 1 | Year 2 | Year 3 | |
| Sales | $1,226,000 | $1,507,490 | $1,853,609 |
| Direct Cost of Sales | $324,050 | $377,842 | $420,538 |
| Other | $0 | $0 | $0 |
| TOTAL COST OF SALES | $324,050 | $377,842 | $420,538 |
| Gross Margin | $901,950 | $1,129,647 | $1,433,071 |
| Gross Margin % | 73.57% | 74.94% | 77.31% |
| Expenses | |||
| Payroll | $421,000 | $463,100 | $509,410 |
| Sales and Marketing and Other Expenses | $145,000 | $148,000 | $156,000 |
| Depreciation | $2,300 | $2,350 | $2,500 |
| Leased Equipment | $0 | $0 | $0 |
| Utilities | $2,900 | $3,000 | $3,100 |
| Insurance | $2,100 | $2,100 | $2,100 |
| Rent | $2,900 | $3,000 | $3,200 |
| Payroll Taxes | $24,000 | $25,000 | $27,000 |
| Other | $0 | $0 | $0 |
| Total Operating Expenses | $600,200 | $646,550 | $703,310 |
| Profit Before Interest and Taxes | $301,750 | $483,097 | $729,761 |
| EBITDA | $301,750 | $483,097 | $729,761 |
| Interest Expense | $0 | $0 | $0 |
| Taxes Incurred | $60,350 | $96,619 | $145,952 |
| Net Profit | $241,400 | $386,478 | $583,809 |
| Net Profit/Sales | 19.69% | 25.64% | 31.50% |
8.3.1 Profit Monthly
8.3.2 Profit Yearly
8.3.3 Gross Margin Monthly
8.3.4 Gross Margin Yearly
8.4 Projected Cash Flow
| Pro Forma Cash Flow | |||
| Cash Received | Year 1 | Year 2 | Year 3 |
| Cash from Operations | |||
| Cash Sales | $51,000 | $55,080 | $59,486 |
| Cash from Receivables | $22,000 | $23,760 | $25,661 |
| SUBTOTAL CASH FROM OPERATIONS | $73,000 | $79,570 | $85,936 |
| Additional Cash Received | |||
| Sales Tax, VAT, HST/GST Received | $0 | $0 | $0 |
| New Current Borrowing | $0 | $0 | $0 |
| New Other Liabilities (interest-free) | $0 | $0 | $0 |
| New Long-term Liabilities | $0 | $0 | $0 |
| Sales of Other Current Assets | $0 | $0 | $0 |
| Sales of Long-term Assets | $0 | $0 | $0 |
| New Investment Received | $0 | $0 | $0 |
| SUBTOTAL CASH RECEIVED | $74,000 | $79,000 | $85,000 |
| Expenditures | Year 1 | Year 2 | Year 3 |
| Expenditures from Operations | |||
| Cash Spending | $42,000 | $42,000 | $45,000 |
| Bill Payments | $27,000 | $28,000 | $31,000 |
| SUBTOTAL SPENT ON OPERATIONS | $69,000 | $70,000 | $76,000 |
| Additional Cash Spent | |||
| Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 |
| Principal Repayment of Current Borrowing | $0 | $0 | $0 |
| Other Liabilities Principal Repayment | $0 | $0 | $0 |
| Long-term Liabilities Principal Repayment | $0 | $0 | $0 |
| Purchase Other Current Assets | $0 | $0 | $0 |
| Purchase Long-term Assets | $0 | $0 | $0 |
| Dividends | $0 | $0 | $0 |
| SUBTOTAL CASH SPENT | $69,000 | $74,520 | $80,482 |
| Net Cash Flow | $21,000 | $23,000 | $25,000 |
| Cash Balance | $27,000 | $30,000 | $33,000 |
8.5 Projected Balance Sheet
| Pro Forma Balance Sheet | |||
| Assets | Year 1 | Year 2 | Year 3 |
| Current Assets | |||
| Cash | $275,000 | $308,000 | $338,800 |
| Accounts Receivable | $24,000 | $26,880 | $30,213 |
| Inventory | $4,300 | $4,816 | $4,900 |
| Other Current Assets | $1,000 | $1,000 | $1,000 |
| TOTAL CURRENT ASSETS | $282,000 | $315,840 | $355,004 |
| Long-term Assets | |||
| Long-term Assets | $10,000 | $10,000 | $10,000 |
| Accumulated Depreciation | $19,400 | $21,728 | $24,444 |
| TOTAL LONG-TERM ASSETS | $24,400 | $27,328 | $30,744 |
| TOTAL ASSETS | $294,000 | $329,280 | $370,440 |
| Liabilities and Capital | Year 4 | Year 5 | Year 6 |
| Current Liabilities | |||
| Accounts Payable | $18,700 | $20,944 | $23,541 |
| Current Borrowing | $0 | $0 | $0 |
| Other Current Liabilities | $0 | $0 | $0 |
| SUBTOTAL CURRENT LIABILITIES | $19,000 | $21,280 | $23,919 |
| Long-term Liabilities | $0 | $0 | $0 |
| TOTAL LIABILITIES | $15,000 | $16,800 | $18,883 |
| Paid-in Capital | $30,000 | $30,000 | $31,000 |
| Retained Earnings | $53,000 | $57,770 | $63,547 |
| Earnings | $193,400 | $210,806 | $231,887 |
| TOTAL CAPITAL | $285,000 | $310,650 | $341,715 |
| TOTAL LIABILITIES AND CAPITAL | $300,000 | $329,280 | $370,440 |
| Net Worth | $293,400 | $319,806 | $351,787 |
8.6 Business Ratios
| Ratio Analysis | ||||
| Year 1 | Year 2 | Year 3 | INDUSTRY PROFILE | |
| Sales Growth | 7.25% | 8.03% | 8.90% | 3.00% |
| Percent of Total Assets | ||||
| Accounts Receivable | 9.21% | 10.20% | 11.31% | 9.80% |
| Inventory | 5.39% | 5.97% | 6.62% | 9.90% |
| Other Current Assets | 2.11% | 2.34% | 2.59% | 2.40% |
| Total Current Assets | 149.80% | 151.00% | 152.00% | 158.00% |
| Long-term Assets | 11.55% | 11.60% | 11.64% | 12.00% |
| TOTAL ASSETS | 100.00% | 100.00% | 100.00% | 100.00% |
| Current Liabilities | 4.90% | 4.94% | 4.98% | 4.34% |
| Long-term Liabilities | 0.00% | 0.00% | 0.00% | 0.00% |
| Total Liabilities | 7.59% | 7.65% | 7.72% | 7.38% |
| NET WORTH | 100.45% | 101.25% | 102.19% | 110.00% |
| Percent of Sales | ||||
| Sales | 100.00% | 100.00% | 100.00% | 100.00% |
| Gross Margin | 94.60% | 97.15% | 99.87% | 99.00% |
| Selling, General & Administrative Expenses | 93.56% | 96.09% | 98.78% | 97.80% |
| Advertising Expenses | 1.52% | 1.56% | 1.60% | 1.40% |
| Profit Before Interest and Taxes | 41.50% | 42.62% | 43.81% | 33.90% |
| Main Ratios | ||||
| Current | 34 | 35 | 36 | 32 |
| Quick | 33 | 33.8 | 34.645 | 33 |
| Total Debt to Total Assets | 0.18% | 0.18% | 0.17% | 0.40% |
| Pre-tax Return on Net Worth | 74.08% | 74.89% | 75.00% | 75.00% |
| Pre-tax Return on Assets | 96.30% | 101.12% | 106.17% | 111.30% |
| Additional Ratios | Year 1 | Year 2 | Year 3 | |
| Net Profit Margin | 33.56% | 34.60% | 35.67% | N.A. |
| Return on Equity | 55.80% | 57.53% | 59.31% | N.A. |
| Activity Ratios | ||||
| Accounts Receivable Turnover | 7.7 | 7.8 | 7.8 | N.A. |
| Collection Days | 100 | 100 | 100 | N.A. |
| Inventory Turnover | 32.4 | 34.02 | 35 | N.A. |
| Accounts Payable Turnover | 15.6 | 16 | 16.3 | N.A. |
| Payment Days | 27 | 27 | 27 | N.A. |
| Total Asset Turnover | 2.5 | 2.5 | 2.6 | N.A. |
| Debt Ratios | ||||
| Debt to Net Worth | -0.04 | -0.03 | -0.04 | N.A. |
| Current Liab. to Liab. | 1 | 1 | 1 | N.A. |
| Liquidity Ratios | ||||
| Net Working Capital | $244,000 | $257,664 | $272,093 | N.A. |
| Interest Coverage | 0 | 0 | 0 | N.A. |
| Additional Ratios | ||||
| Assets to Sales | 0.85 | 0.87 | 0.89 | N.A. |
| Current Debt/Total Assets | 1% | 0% | 0% | N.A. |
| Acid Test | 29 | 29.12 | 29.16 | N.A. |
| Sales/Net Worth | 2.1 | 2.2 | 2.2 | N.A. |
| Dividend Payout | 0 | 0 | 0 | N.A. |
FAQ
1. How profitable is an urgent care?
The profitability of an urgent care startup depends on many factors like location and services etc. You can get a better idea about the profitability of urgent care centres by going through the above urgent care center business plan
2. What are urgent care centers good for?
Urgent care centres provide a wide variety of services, from treating the common cold to vaccinations and critical care in an emergency.
3. How do you value an urgent care center?
The value of an urgent care center depends on the quality of its services.
4. How much does urgent care typically cost?
Urgent care start up costs vary depending on size, location and services. You can learn how to start a nonprofit medical clinic by going through the business plan above.
Download Urgent Care Business Plan Sample in pdf
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