HSCI 438-Final Project Business Plan

Life at Home

California State University, San Bernardino Winter 2013

Ashley Ignacio

Instructor

Gary W. Lawson, DPA

Life at Home Non-disclosure and confidentiality agreement The undersigned___________________________ hereby agrees that all

financial and other information that he/she will receive concerning Life at Home is confidential. The information shall remain the property of your business name and shall be returned to your business name promptly upon request together with all other copies.

Recipient acknowledge that no remedy of law may be adequate to compensate your business name for a version of this agreement and recipient hereby agrees that in addition to any legal or other right may be available in the event of a breach hereunder, your business name may seek equitable relief to enforce this agreement in any court of competent jurisdiction.

____________________________ ____________________ Signature Date

This document contains confidential information. It is given to you for information purposes only. Its contents shall remain the property of your business name and shall be returned to your business name when requested. This business plans and does not simply offering of securities.

Life at Home Table of Contents

1.0 Executive Summary...... 5 1.1 Mission Statement..... 5 1.2 Vision Statement....... 5 1.3 Objectives....... 6 1.4 Keys to Success........ 6 2.0 Company summary....... 6 2.1 Company Ownership.... 7 2.2 Start-up Summary..... 7 2.3 Legal Requirements...... 7 3.0 Products/Services......... 7 3.1 Vendors...... 7 3.2 Products/Services.... 8-9 4.0 Market analysis summary.... 9 4.1 Market Segmentation.... 9 4.2 Target Market Segment Strategy.... 9 4.3 Industry Analysis..... 10 5.0 Strategy and Implementation Summary.. 10 5.1 Competitive Edge.... 10 5.2 Launch Marketing.... 10 5.3 Sales Strategy..... 11 5.3.1 Sales Forecast...... 11 5.4 Milestones........ 11

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5.5 SWOT Analysis....... 11 6.0 Web Plan Summary....... 12 6.1 Website Market Strategy.... 12 6.2 Website Development Requirements.. 12 6.3 Social Media........ 12 7.0 Management Summary...... 12 7.1 Personnel Plan.... 12 8.0 Financial Plan...... 12 8.1 Important Assumptions...... 13 8.2 Break-even Analysis..... 13-14 8.3 Projected Profit and Loss...... 14 8.4 Projected Cash Flow...... 14 9.0 References...... 14 Appendix...... 14

Life at Home 1.0 Executive Summary The main goal of Life at Home is to make life easier for the elderly. My

duty as the only employee is to provide quality of service to my clients. Not only am I there to provide them help, but also to provide companionship. I want to be able to lend a helping hand to those who can barely handle daily living. So far I am the only agency in Highland, CA that can provide these services to Highland, Redlands, and Yucaipa. Life at Homes pricing is based on a set rate of $50 per client. I provide services such as transportation, shopping (groceries, clothing, etc.), laundry, cleaning, bathing, and cooking around the household. I plan to have to this business up and running by January 2014 1.1 Mission Statement My mission for Life at Home is to make sure that I offer excellent and inexpensive care for your loved one here in Highland, Redlands, and Yucaipa. I am here to help your loved one with any household chores such as getting the groceries, laundry, bathing, cooking, cleaning, and transportation. 1.2 Vision Statement Five years from now, I expect to see my business helping out over fifty senior citizens a month. I would also like to have more employees that are willing to help any senior with any household chores.

Life at Home 1.3 Objective My objective is to help out as many seniors as I can within Highland, Redlands, and Yucaipa. 50 Life at Home patients served by the end of first year Reasonable gross sales by the end of the first year Survey Life at Home patients and receive great satisfaction for services 1.4 Keys to Success Desire to help Love the elderly Provide great quality of service Reliability- being available through on-call

2.0 Company Summary Life at Home is a new Home Care service in its start-up stages. My agency is located in East Highland, CA and I will be providing the following services to patients and clients from Highland, Redlands, and Yucaipa: Shopping (groceries, clothes, and medications) Transportation Laundry Cooking Cleaning (washing dishes, sweep/mop floor, vacuuming, etc.) Bathing

Life at Home 2.1 Company Ownership Life at Home is a sole proprietorship owned and operating by Ashley K. Ignacio. 2.2 Start-up Summary Life at Home is in its start-up state, and unfortunately there are

start-up costs and funding issues to address. Those costs including the following: New cellphone for business New computer Money for gas

2.3 Legal Requirements Getting my business license from the city of Highland and receiving a sole proprietorship license. 3.0 Products/Services 3.1 Vendors Stater Bros. Trader Joes CVS Pharmacy Walgreens Vons Rite Aid

Life at Home 3.2 Products/Services Transportation Laundry Cooking Cleaning (washing dishes, sweep/mop floor, vacuuming, etc.) Bathing Shopping (grocery, clothes, medications)

http://www.google.com/search?hl=en&sugexp=les%3B&gs_rn=5&gs_ri=psyab&pq=home+health+care&cp=20&gs_id=n&xhr=t&q=home+health+care+statisti cs&client=safari&rls=en&bav=on.2,or.r_gc.r_pw.r_qf.&bvm=bv.43148975,d.cGE

Life at Home &biw=1277&bih=611&um=1&ie=UTF-

8&tbm=isch&source=og&sa=N&tab=wi&ei=Cb0vUfKMDMa5igLwvIHYDg#imgrc= Vry91INM9BOdNM%3A%3BSp5iRZ0_MoaGYM%3Bhttp%253A%252F%252Fw ww.assistinghands.com%252Flexington%252Fimages%252Fstat.jpg%3Bhttp%2 53A%252F%252Fwww.assistinghands.com%252Flexington%252Faboutindustry.html%3B570%3B424 4.0 Market Analysis Summary The following will do the consumer base for Life at Home: Door-to-door Post up signs in Highland, Redlands, and Yucaipa Make flyers and pass around the neighborhoods and stores Make a Facebook page Make a Twitter account Make an Instagram account

4.1 Market segmentation The population base in Highland, Redlands, and Yucaipa is aging, and more individuals would rather stay in their homes and relax rather than ding household chores and going out. I want to help out all elders 65 and over in any of those three locations. 4.2 Target Market Segment Strategy I will reach my target market by going door-to-door, using social and viral marketing.

Life at Home 4.3 Industry Analysis

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It is the right time to start this business because it is the time of the baby boomers. They are getting older and they want to stay in their homes longer. There are currently two other Home Care agencies located around my area, but I am unique in that I can provide quality service to my customers since I am a small business. I plan to provide 100% satisfaction for my clientele. 5.0 Strategy and Implementation Summary Life at Home will focus on three cities within San Bernardino County. Within this geographical area I will target one specific program: Home care

5.1 Competitive Edge Life at Home is different from any other Home Care agency. Not only do I provide quality service to customers in need, but also provide quality care. My duty is to make the customer feel comfortable and relaxed when I am around to help. I also offer help out of my main services such as offering water to them and helping them down the stairs. 5.2 Launch Marketing During the first week of opening the business, Life at Home will hold an open house, go door-to-door, and put an ad out in local newspapers.

Life at Home 5.3 Sales Strategy

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Life at Home will generate sales through a 6-month signed contract, cash, credit, and checks. 5.3.1 Sales forecast As a start, I will help four clients per month the first year and increase to 8 clients per month the 2nd year. Clients per Month in year 1 ($50 per client) 10 10 10 Month Profit

January February March

$500 $500 $500

5.4 Milestones If I reach my quota in two months, I will be satisfied. By March 30 th I would have successfully gathered a total of six loyal customers. 5.5 SWOT Analysis Strength- Quality of service Weakness- Only one employee, for the first few months, most of the money will be used to pay for gas. Opportunity- growing age in population Threat- other competitors in my sectors

Life at Home 6.0 Web Plan Summary Life at Home will be using social networking in order to create revenue and reach out to new and existing clients. 6.1 Website Marketing Strategy I will be using Facebook, Twitter, Skype, and an official website. 6.2 Website Development Requirements I will be using my business computer to develop my website and

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other web pages. I will use part of my revenue expenses to develop a easy-to-use website for new and existing customers 6.3 Social Media Life at Home will put out a few ads in the newspapers and make YouTube videos to promote the business. 7.0 Management Summary I am currently the only employee of Life at Home, which makes me the CEO of this business. 7.1 Personnel Plan I am the only employee of Life at Home. 8.0 Financial Plan I want to finance growth mainly through cash flow. This means that I have to grow my business slower than I might like.

Life at Home 8.1 Important Assumptions I assume a strong economy, without major recession.

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I assume that there will be no changes in the federal policy in Home Care services. 8.2 Break-even Analysis

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point.gif%3Bhttp%253A%252F%252Fwww.vertex42.com%252FExcelTemplates %252Fbreakeven-analysis.html%3B546%3B392 8.3 Projected Profit and Loss My projected profit and loss is done monthly and cost of sales is relatively low. It is based off of taxes and liabilities. 8.4 Projected Cash Flow The following cash flow projections show the monthly amounts only. Collection of accounts receivable from my sales on credit will affect my cash flow. 9.0 References Appendix Five articles that influenced me to continue on with my business plan.