Medical Laboratory Business Plan Template

Sample Small Business Plan: Executive Summary

This blood test business plan provides a template you can use in thinking through how to successfully launch a new medical laboratory business.

Build a medical lab business plan to take advantage of laboratory service gaps in your community

The clinical lab founder, Steve Gigsted, has identified a testing lab business opportunity.  In his town, doctors  , they must send their patients on a 15 minute drive to the closest clinical laboratory for blood testing.

Steve will open a testing lab within one of the largest physician buildings in town.  Helping physicians offer more convenience to their patients is a competitive advantage. 

The medical laboratory should achieve approximately $100,000 in sales the first year, growing to almost $300,000 per year by the end of the third year.
 

Medical Laboratory Small Business Plan Forecast:
Sales, Margins, and Net Profit

The new lab business will need $40,000 in cash reserves to get through the first year until it reaches profitability.   The biggest initial expense will be for lab equipment.  This can be financed, so the goal is to obtain the lowest cost financing, to keep initial breakeven costs to a minimum.

 Service Offerings

The business plan anticipates the business will focus on tests it can turn around quickly, reliably, and profitably.  Other tests will be sent to specialized clinical labs.

Below are the tests to be performed in-house:

• CBC- A complete test of red blood cell count, white blood count, and a platelet count.
  
• Blood sugar test- Oten requested for diabetics or possible diabetics.
• Electrolyte testing- For patients on diuretics or when there is concern that they might
  be losing electrolytes.
• Creatine- Often used to check kidney functioning or to determine if there are heart or
  kidney problems

View rest of this medical laboratory business plan, including cash flow, profit and loss details, break-even details, marketing plan, strategy and more.

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