Butterfly Counseling Services.com | Application Preview
Butterfly Counseling Services is seeking government grants to expand its operations, primarily by hiring additional therapists. The funding will mainly support employment packages aimed at attracting professionals who align with the company's client-centered culture and shared vision.
The company is targeting the mental health market in New York City, where the total addressable market (TAM) is valued at $512 million annually, with a serviceable available market (SAM) of $333 million, and a serviceable obtainable market (SOM) projected at $16 million, assuming a 5% capture. If successful in hiring 10 part-time and 30 full-time therapists over the next five years, BCS estimates generating annual revenue of $5.94 million.
Investing in BCS is presented as a promising opportunity for a strong return on investment (ROI) due to its focus on quality mental health services, contrasting with larger competitors like Betterhelp, Talkspace, and Cerebrum, which prioritize profit over service quality through subscription models. BCS's competitive advantage lies in its dedication to delivering client-focused care at a fee-for-service model, emphasizing diversity among its staff with many therapists coming from varied backgrounds and including Spanish speakers to cater to a broader community.
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General Information
Business Registration Number: 84-3900344
Location: Centereach, NY, United States
Length of Operation: 1-5
Number of Employees: 1-10 Employees
Annual Gross Income: $250k to $500k
Annual Gross Expense: $100k to $250k
Open to Loans: YES
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Funding Usage
The funding will be used to scale the company. The vast majority of the funds will be used to provide hiring packages for additional therapists. These packages will be required as BCS needs to hire professionals that fit the culture of the company. Butterfly Counseling Services is client centered and our clients require professional therapists that share a common background. BCS has to identify therapists of these characteristics and offer them competitive packages to join a shared vision with a start-up company.
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Business Plan
Our current market is mental health services in and around New York City. The TAM for NYC is $512 million annually, the SAM for NYC is $333 million annually and the SOM at 5% of the NYC market is $16 million annually. If BCS is able to hire 10 part-time and 30 full-time therapists over the next 5 years, the yearly revenue would be $5,940,000. Professionals should invest in Dr. Sola because they will have a successful ROI.
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Self Identified Competition
Betterhelp, Talkspace and Cerebrum, they are all mental health companies run by Big Tech investors and not by a mental health professional. Since they are essentially money making operations, they offer a subscription services so they can obtain as much revenue as possible while providing the least amount of services as possible. The BCS fee for services is a superior mental health model if client focused. Butterfly Counseling Services only charge a fee for services rendered. Additionally, we are focused on more diverse populations as most of our therapists hail from diverse backgrounds. BCS also has fluent Spanish speakers on staff as well.
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