Business Plan Analysis: Private Concepts
Memorandum
Re: Business Plan Assessment - Private Concepts
Critically analyzing a business plan for its viability and opportunity for success is absolutely necessary from any stakeholder’s perspective. Doing so aides an investor in knowing whether or not to invest, a bank in deciding on a loan, or even a partner in his/her decision to join a venture. But perhaps most importantly, a critical analysis of a business plan can and will help the entrepreneur to assess whether or not an idea under its current platform is worth undertaking, or if it is back to the drawing board they go. The purpose of this memo is to assess the business plan of Private Concepts, a company hoping to bring to market The Pevlon, a cervical cancer screening device made for private, in-home use.
The opportunity for such a device absolutely exists both here in the United States and abroad. For one, the plan mentions The Breast and Cervical Cancer Mortality Act of 1990 which, “mandated a nationwide program to increase access of medically underserved women to comprehensive breast and cervical cancer screening services,” and when coupled with the Patient Protection and Affordable Care Act that was recently passed, the amount of free (to consumer; paid for by the government) access to this product creates potential for a high demand in this country. In foreign countries however, such as rural China and even Africa, where access to healthcare and proper healthcare facilities can be extremely rare, the appetite for this type of product could be tremendously significant. And there lies the first issue with this business plan.
According to the Lancet Oncology medical journal, Volume 11, Issue 12, “75,000 women develop cervical cancer and 40,000 women die from the disease in China each year.” Those numbers in the United States are only about 12,000 and close to 4,000 respectively (cdc.gov). This exemplifies a larger need for this product abroad as opposed to right here in the states. And to
Re: Business Plan Assessment - Private Concepts
Critically analyzing a business plan for its viability and opportunity for success is absolutely necessary from any stakeholder’s perspective. Doing so aides an investor in knowing whether or not to invest, a bank in deciding on a loan, or even a partner in his/her decision to join a venture. But perhaps most importantly, a critical analysis of a business plan can and will help the entrepreneur to assess whether or not an idea under its current platform is worth undertaking, or if it is back to the drawing board they go. The purpose of this memo is to assess the business plan of Private Concepts, a company hoping to bring to market The Pevlon, a cervical cancer screening device made for private, in-home use.
The opportunity for such a device absolutely exists both here in the United States and abroad. For one, the plan mentions The Breast and Cervical Cancer Mortality Act of 1990 which, “mandated a nationwide program to increase access of medically underserved women to comprehensive breast and cervical cancer screening services,” and when coupled with the Patient Protection and Affordable Care Act that was recently passed, the amount of free (to consumer; paid for by the government) access to this product creates potential for a high demand in this country. In foreign countries however, such as rural China and even Africa, where access to healthcare and proper healthcare facilities can be extremely rare, the appetite for this type of product could be tremendously significant. And there lies the first issue with this business plan.
According to the Lancet Oncology medical journal, Volume 11, Issue 12, “75,000 women develop cervical cancer and 40,000 women die from the disease in China each year.” Those numbers in the United States are only about 12,000 and close to 4,000 respectively (cdc.gov). This exemplifies a larger need for this product abroad as opposed to right here in the states. And to