Forever Wellness Lounge | Application Preview
Forever Wellness Lounge is seeking government grants to support their startup and ongoing operations. The funding will primarily cover essential monthly expenses such as office lease, utilities, insurance, and wages for part-time medical staff. The business also outlines significant startup costs including marketing, medical equipment, and renovations.
In their business plan, Forever Wellness Lounge identifies key market segments and plans to partner with local businesses like gyms and wellness centers to attract clients. Their marketing strategy emphasizes community engagement and the use of social media to boost awareness and growth over the next five years. They predict gradual increases in revenue and net profit each year, projecting a total revenue of $1,265,625 with a net profit of $973,188 by the fifth year.
The owner shares a personal connection to the mission of the business, motivated by personal experiences with health issues in the family. They aim to provide accessible, affordable, holistic health services, particularly focusing on weight loss and alternative therapies.
In terms of competition, the owner notes several existing wellness centers but believes Forever Wellness Lounge offers unique advantages, including comprehensive services and personalized care. The owner, a qualified Nurse Practitioner with significant experience, is committed to combining holistic approaches with modern medical technology, setting the business apart in a growing health and wellness industry valued at $4.2 trillion.
The proposal emphasizes a commitment to quality, competitive pricing, and community connection, positioning Forever Wellness Lounge to be a significant player in the integrative wellness market.
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General Information
Business Registration Number: 87-3122978
Location: Ocoee, FL, United States
Length of Operation: 0
Number of Employees:
Annual Gross Income:
Annual Gross Expense:
Open to Loans: YES
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Funding Usage
Typical monthly expenses: • Office lease: $1200-$4000 • Utilities: $200-$300 • Website fee: $100-$250 • Advertising: $200-$1500 • Office supplies: $200-$400 • Medical Supplies: $500-$1500 • Pharmaceuticals: $200-$600 • Business General Liability Insurance: $30-$50 • Workers Comp: $50-$200 • Professional Liabilty Insurance: $200-$300 • Professional Malpractice Insurance: $120-$525 • Receptionist parttime: ($12-$16/HR) = $1000-$1600 • RN Part-time: ($30-$40/HR) = $2000-$3500 • NP Part-time ($60-$75/HR) = $2000-$4000 • Accounting: $150-$250 These projections are just for the month. Would like to have enough to enough to open up and maintain until I am at least breaking even Startup expense Legal $145 Brand/marketing $60,000 Insurance $1,500 Licensing $288 Computer $2,000 Furniture & Fixture $4,500 IV lounge equipment $5,000 Medical equipment $5,000 IV lounge interior renovation $6,000 Website $600 Hiring $250
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Business Plan
Market segmentation is one of the pivotal keys that would ensure optimal success for Forever Wellness Lounge. We will utilize partnerships with B2B companies offering wellness programs to increase revenue: - Sports club, yoga studies, local gyms, Aesthetics, Chiropractors, Dermatology clinics, Spas, Dieticians, and Surgeons Partnerships will bring in more customers and provides good marketing. Yearly I will pay myself a small salary and put the rest back into the business. This will allow for new and improved medical equipment as well as adding more therapies. Marketing plays a huge role in increasing revenue. The following are the marketing strategies which Forever Wellness Lounge will adopt to increase growth within the next five years: - Extensively utilize word-of-mouth advertisement – interacting with everyone that comes in contact with us and visits our agency - Utilizing friends and family to promote awareness for the business - Leveraging social media platforms to build awareness - Engaging in social media giveaways - Active involvement in local events, parties, and other activities that can promote our business - Getting online reviews - Sharing our expertise freely but consciously - Expanding our networks of contact and prospective clients - Leverage digital marketing platform such as using Social media like Facebook, Twitter, Instagram, Tumblr, etc. – by creating pages on these social media channels and flooding them with creative contents, stories, and testimonials. - Utilizing Google Ad Words - Engage a professional script writer to create fascinating promotional scripts and ad copies for advertisement - Participate in community events The profit is seen to increase with sales and the Net profits shows the amount the business made after first year and expenses. It is assumed that: • Total revenue of 250,000 will be made in the first year of business activities to make 54,868 net profits. • Total revenue of 375,000 will be made in the second year of business activities to make 164,940 net profits. • Total revenue of 562,500 will be made in the third year of business activities to make 332,908 net profits. • Total revenue of 843,750 will be made in the fourth year of business activities to make 587,793 net profits. • Total revenue of 1,265,625 will be made in the fifth year of business activities to make 973,188 net profits. Every business always aspires to increase its sales. With the marketing strategy adopted, it is assumed that this will yield an increase in the subsequent years of business activities, causing the revenue for each year to increase too. The volume of revenue influences the profit that will be made during the year, therefore revenue generated in the course of running the business results in an increase in profit made by the business after taking care of all expenses. Investing in me makes one of my lifelong dreams become reality. As a child I lost both parents due to bad lifestyles and health choices. Experiencing the events and heartache of my mother’s illness, sparked my interest in healthcare. A few years ago, I lost my only sibling, my brother, to high blood pressure and obesity. From very young, I learned how to push forward and not let catastrophes and hurdles stop me. I am not afraid of hard work. I am a first-generation minority female to have her own business. Owning this practice will gain generational wealth for my daughters. Opening this clinic grants me the opportunity to provide autonomous care to my patients. One major health concern in the United States is obesity. More than two thirds of adults in the United States are overweight or obese. At Forever Wellness Lounge, one of our main goals is to focus on weight loss. Along with a weight loss program, we will offer IV infusions, which allows immediate absorption of nutrients. Forever Wellness lounge can help bridge the gap of holistic care. I want to provide alternative therapies to my community at a great cost. The Forever Wellness Lounge’s mission is to create an integrative medical wellness practice that embodies the best of holistic therapies and to give each and every customer a wow experience. We would like to educate our clients on the importance of self-care, and self-love; it’s not only important for women but men also. Although, we will be providing services of the highest quality and professional standard only, they will still represent a great value for their prices. Our pricing system is based on what is obtainable in the industry. We have no intentions of hiking prices. We will be flexible with our prices as they are subject to change at any time. This will allow people from many economic backgrounds the ability to have access to holistic care. We will keep a close check on competitors and charge a more affordable fee than what they charge in an effort to keep serving our clients. We will not compromise the standard of our services in a bid to sell at an affordable rate. The Health & Wellness Industry Is Now Worth $4.2 trillion The Health and Wellness industry encompasses all activities which promote physical and mental wellbeing: from yoga to healthy eating, personal care and beauty, nutrition and weight-loss, meditation, spa retreats, workplace wellness and wellness tourism. The 2018 inaugural report finds that the global wellness industry grew 12.8% from 2015-2017, from a $3.7 trillion to a $4.2 trillion market. To put that in economic context, from 2015-2017, the wellness economy grew 6.4% annually, nearly twice as fast as global economic growth (3.6%). Wellness expenditures ($4.2 trillion) are now more than half as large as total global health expenditures ($7.3 trillion). And the wellness industry represents 5.3% of global economic output. My business plan projects that Forever Wellness Lounge is set up to succeed and that there is a need for more integrative medical clinics. The clinic has clientele lined up, as well as medical professionals who want to work with my company. Total revenue of 250,000 will be made in the first year of business activities to make 54,868 net profits. Total revenue of 375,000 will be made in the second year of business activities to make 164,940 net profits. Year after year we are projected to increase revenue. Forever Wellness Lounge has an utmost confidence in the business and believes that it will be profitable and successful based on the market need for the business as well as the viability of the selected location. However, if the business fails, we will take the following measures: - Re-strategize, analyze the reason for the initial failure and preparedly venture into it again - Sell the business out to a company or individual interested in buying - Get help from family and friends to repay all outstanding debts if there is any
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Self Identified Competition
There are various wellness and health clinics in and around our location. To our knowledge, there are very few owned wellness centers with our capabilities. These companies are considered competitors because they are established and have spent a considerable amount of time operating in the industry; but we are not deterred by this as we are compelled from our capability to provide premium quality wellness center services. Our services will also encompass affordability with latest and modern service methods. 1. Vita Lounge provides IV Therapy as an effective way to deliver nutrients, hydration, and medications to the body. They provide infusions for a variety of ailments (immune boost, beauty, migraines). Company is owned by a registered nurse. 2. IV Lounge is run by a team of doctors and a dietician. They also utilize IV infusions to provide nutrients directly to the blood stream for a variety of ailments (dehydration, fatigue, beauty, athletic recovery, jet lag, hangover, and immune boost). They provide mobile concierge as well as weight loss options (diet consults and food sensitivity testing. 3. Revival Lounge provides different vitamin IV drips and vitamin injections to help reverse the daily stresses of life while re-hydrating and replenishing your body of depleted vitamins, minerals, and antioxidants. They focus on energizing, brain boost, hydration, immunity, slimming and detoxifying. Forever Wellness Lounge is owned by a masters prepared Nurse practitioner with a total of 7 years of nursing experience. The owner loves working with diverse people and has a passion to continue helping others become and remain healthy. Forever Wellness Lounge will create an integrative medical environment that embodies the best of holistic therapies coupled with leading edge technology in a spa-like setting. Our approach is to combine multiple medical modalities in our treatment plan so that our patients can recover faster from their condition or injury. We will work one on one with our customers to customize their specific needs-no treatment is a one size fits all. Forever Wellness Lounge will provide a wide range of specialized treatments and services, which include immunity boosters, beauty enhancing [skin, hair, and nails], hydration, hangover relief, energy boost, pre/post-surgical hydration, and Multiply system remedies (Health maintenance & Energy, migraines, asthma, chronic fatigue syndrome, fibromyalgia, acute muscle spasms, upper respiratory infections, chronic sinusitis, seasonal allergies). What also sets us apart from the competitors is our weight loss program. In a nutshell our wellness program will include infusions that accelerate weight loss, helps metabolism, aids in fat burning, maintain blood sugar, lower cholesterol; exercise plans, 12-week program utilizing glycemic index, use of high-quality nutraceuticals and semaglutide (glucagon-like peptide-1 (GLP-1) which is an FDA approved injection), and weekly appointments for weigh in. Forever Wellness Lounge will differentiate itself from the competitors with the following: - Quality services - The guaranteed high rate of satisfaction - Specifically, personalized wellness and health services - Comfortable price - Excellent customer service - Utilizing data and statistics to provide high class information to wellness businesses - Social experience and enjoyable workplace for staffs - Modern equipment and facilities that are proven for promoting business practices. Forever Wellness Lounge will use these above factors to the company advantage in order to achieve our set goals and become the best.
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