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COURSE NAME COURSE NUMBER SEMESTER YEAR

Innovation & Entrepreneurship BUS 204 Spring 2017ASSESSMENT TITLE Al Dar Home CareASSESSMENT TASK SUMMARYStudents will write a Business Plan that covers the following topics:1. Executive Summary

(Name, type, location, and legal form of the business)2. Industry Analysis

(Market size, customer analysis, competitor analysis)3. Marketing Strategy

(Market segmentation, target marketing and marketing mix)4. Management Team

(Operation plan, organization chart and HR plan)5. Financial Analysis and Feasibility

(Start-up costs, sales projections, ratio analysis, pro-forma financial statements, and feasibility study)6. Appendix

(References, contracts, CVs)

APA or MLA Format

Additional details appear on the Assignment Instruction

INSTRUCTOR NAME EMAIL ADDRESS

Dr. Zahi Yaseen z.yaseen@cuca.aeDUE DATE

CRITERIA VALUE MARKS EARNED

Writing Style 5Business plan Design 5Business Idea 5Business Plan Contents 5Marketing Strategy 5Financial Analysis 5SIMILARITY INDEX (%) = TOTAL MARKS [out of 30]

COMMENTS

Assessment ResultMARKS INSTRUCTOR NAME SIGNATURE DATE

Rubric: Business Plan ( For Examiner)The Element Excellent Very good Good Average Weak Total

Max 15 marks 12 9 6 3Writing Style Grammar Spelling /15 Punctuation Format

Business plan Design Guidelines /15 Table of Contents Tables and Charts Originality (Turnitin)

Business Idea Creativity /15 Innovation Feasibility Study Social ResponsibilityBusiness Plan Contents Executive Summary Industry Analysis Customer Analysis Competitor Analysis /15 Marketing Strategy Marketing Mix Management Team Operations Plan /15 Financial Analysis Costs Projection Sales projection Pro-Forma Income

Statement, Balance sheet, Cash Flows /15

Ratio Analysis

Total = /90

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Table of Contents

7. Executive Summary…………………………………………………………………

7.1 Introduction : Name, type, location, and legal form of the business7.2 The Company: Founder of the business, team experience, and education 7.3 Products /Services: Brief description of services and products of the business 7.4 The Market: Brief descriptions of the industry trend, target market and competitors7.5 Business Structure: Vision, Mission, Core values, Key success, strategic goals7.6 Financial Conditions: Summary of start-up costs, expected profit, loan request

8. Industry Analysis…………………………………………………………………….

8.1 Market size: Market share, industry trend and attractiveness ( References)8.2 Customers analysis: Detail description of the target market8.3 Competitors analysis: Detail description of competitors8.4 SWOT analysis: Business Strengths, weakness, opportunities, and threats

9. Marketing Strategy…………………………………………………………………..

9.1 Marketing department mission statement, market needs, and value provided9.2 Strategy: Business strategy: low cost, differentiation, focus…..etc9.3 Market Segmentation: Industry groups and segments9.4 Target Marketing: Selected segments and groups9.5 Marketing Positioning: Image and competitive advantage: quality, variety….etc9.6 Marketing Mix: Product/service, Price, Place, and Promotion9.7 Marketing Objectives: SMART objectives

10.Management Team…………………………………………………………………

10.1 Operations plan: Description of how business operates10.2 Organization Chart: Draw the organization chart of the business10.3 Personnel Plan: Number of Staff to be hired

11. Financial Analysis…………………………………………………………………..

11.1 Financial Assumptions11.2 Costs projection: Start-up Costs, monthly expenses, and breakeven point11.3 Sales projection for five years11.4 Pro Forma financial statements: Income, balance sheet, and cash flows11.5 Ratio Analysis: Profit Margin, ROI, and Liquidity ratios11.6 Capital Requirements: Possible financial resources and loan request

12.The Appendix ……………………………………………………………………….- References, tables, charts…..- Contracts, leases….- CV’s

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- Outlook , researches- Copy of business products, logos, slogan…etc

1. Executive Summary1.1 Introduction

Al Dar Home Care provides home nursing services in Dubai and is planning to open new

branch in Abu Dhabi. Al Dar Home Care Services is located in the International City Dubai. It

was established last April 2010 and has built a strong reputation for its excellence in nursing

care, in which we work hard to maintain. We are planning to expand our services by opening a

new location in Kalifa 1, Abu Dhabi. Based on the nature of our services, the location is not

made to attract more clients. We are looking for a suitable location in the great city of Abu Dhabi

that is affordable and convenient.

1.2 The companyAl Dar Home Care owned by Mr. Zahi Yaseenunder the form of sole proprietorship and

managed by qualified and well trained team to manage his company in Dubai. The company is

managed by Emirati staffs that got the knowledge and experience of home care services and

hire employees with educational degrees of nursing from well known and accredited institutions.

All nursing homes in the UAE are subject to federal regulations. Nursing homes should

comply with licensure in the Emirate regulations and/or certification of the Health Authority

regulations. Al Dar Home Care is licensed by the Dubai Health Authority and in order to practice

home care business in Abu Dhabi, we are planning to get the license of the Abu Dhabi Health

Authority to start-up new branch.

1.3 Products /ServicesAl Dar Home Care strives to provide our clients with the best home care and home

nursing services in the UAE. We offer a variety of home care services such as ICU nursing,

pediatric nursing, medical and surgical nursing, orthopedic nursing, caregivers, babysitting,

patient and family health education, private duty nursing for long and short-term care. Al Dar

Home Care provides home nursing from nursing aides, PT and nurses to blood technicians and

doctors.

1.4 The MarketThe last 10 years home nursing became very costly in the U.S and Europe. Many

international companies saw the opportunity in this growing industry. Providing a client in need

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of home care services with affordable charges was a very attractive business, this was a very

good opportunity. According to the UAE Nursing and Midwifery Council (2011), the health care

jobs in the UAE are growing dramatically and will stay to grow for the next decade. Actually,

many doctors and health care personnel from the U.S and Europe have started looking for jobs

in the UAE, due to the decent lifestyle and tax-free country. Many professional conferences and

forums coming to the UAE for the goal of education of nursing and home care system needs

and identifies broad strategic directions. This forum for example aims to draft a UAE Nursing

and Midwifery education strategy. The education strategy will focus on preparing the nurses and

midwives to meet the changing context of healthcare delivery, the health care needs of UAE

population and the demands of a dynamic healthcare system.

We target clients who seek assistance while staying at home. Our target market

includes clients who need rehabilitation therapy and other services that are typically utilized on a

short-term after hospitalization for injury or illness. People with disabilities to the extent that the

services they need cannot be found through residential or medical clinks. Clients who have a

limited budget and cannot afford staying in hospitals. Clients who would like to receive nursing

services while staying at home, and new born babies and residents in the UAE.

We are facing many competitors in this industry, especially ones that provide the

same services we do to the same target of customers. These companies are listed under

nursing home cares such as Emirates Home Nursing, Hilal Nursing, and Home for Life. Other

institutions Includes all companies who provide similar services to our target market such as

senior residential campus, government home care who provide health care services for eligible

residents, and medical clinks who provide a wide range of services where clients walk in for

medical services.

Al Dar Home Care has developed a new strategy to distinguish our services and provide

value to our clients. Our strategy is based on the concept of cost control to enable us in

providing home care services in affordable price, in addition to add value to our services that not

provided by other competitors.

1.5 Business Structure

- Vision: Al Dar Home Care will continuously strive to be the provider of choice for exceptional home and

community health care services and provider of medical workforce for the UAE.

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- Mission:Al Dar Home Care mission statement is to be the premier home care agency dedicated to and

recognized for our passion and commitment to serve, help, and enhance the quality of life and

wellbeing of others while providing both efficient and proficient workforces to the Hospital,

Clinics, Pharmacies, Business, Public and Private Sectors and especially in the Home.

- Core Values:

Our values guide our behavior, and in many ways determine our future.

- Accountability: we take personal responsibility of the effective accomplishment of our

mission

- Compassion: Providing care with sympathy and integrity through actions

- Respect: recognizing the dignity and infinite worth of each individual and care for him

or her.

- Excellence: pursing a single standard of quality patient care.

- Our Strategic Objectives:

1. Providing quality of home care service that is delight the individual needs of each

person in our community

2. Creating an inspiring working environment that enables us to attract and retain the

best, professional and certified staff who can deliver our service in a professional

way.

3. Creating a home environment where residents can still active in their social life and

practice their normal activities.

4. Serving our community by creating more job opportunities and training programs

- Key Success

1. Management: The team that organizes and runs daily operations. Responds

creatively to the demand for more services.

2. Facility Amenities: Knowledge of medical advances will become new medications to

learn and dispense, updated medical equipment, and facility technology that need to

be maintained regularly.

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3. Quality of Care: Access to medical professionals and physicians will make all the

difference in caring for our patient’s health, and for the peace of mind of their family

members.

1.6 Financial Conditions

The start-up costs for the new branch of Al Dar Home Care in Abu Dhabi will be

1,265,000 AED with monthly expenses of 143,250 AED. The variable costs in our business is

equal to zero, therefore, the breakeven-point is the same as the fixed costs equal to 143,250 a

month. The expected average income is 176,150 AED a month with 32,900 AED of net income

in the first year of operation. Under the sales projection for the next five years plan with

increments of 5 %, the annual profit margin climbing up from 19%, 20%, 21%, 23%, 24%,

respectively.

2. Industry Analysis2.1 MarketAccording to a research published by scholars in McKinsey and Company titled “ Gulf

Cooperation Council Health Care: Challenges and Opportunities”, the coming decade will bring

significant new challenges to health care in the Gulf Cooperation Council countries, these

challenges will require new strategies on the part of government and private health-care

players. The research findings revealed that an unparalleled and unprecedented rise in demand

for health care over the course of the next two decades”. We estimate that the total health-care

spending in the region will reach 60 billion U.S dollars in 2025, up from 12 billion today”. No

other region in the world faces such rapid growth in demand with simultaneous needs to realign

its health-care systems to be able to treat the disorders of affluence. The research findings

revealed that the health –care systems are far better than they were 20 years ago; many

residents remain unsatisfied with the availability and quality of care at government –run

hospitals and clinics. Government agencies mostly lack the managerial skills needed to run

health-care facilities, and cash incentives alone haven’t been enough to attract specialists to

treat the rising numbers of people with ailments such as heart disease and cancer.

According to a new research report, “UAE Healthcare Forecast to 2012”, the UAE

healthcare industry is expected to sustain its growth pace in the near future. The healthcare

market of the UAE is expected to grow at a CAGR of over 16 percent during 2011-2014. The

country has been witnessing a tremendous increase in the demand for healthcare services and

professionals, which indicates a high healthcare spending. The baseline factors for the

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optimistic future outlook of the UAE healthcare industry includes, enhanced participation, high

investments by private players, industry consolidation for medical infrastructure, and a supply of

pharmaceuticals. Additionally, there will be a strong demand for primary healthcare level drugs,

such as generics, antibiotics, and over-the-counter drugs (OTC) in the coming years as

numerous drugs are on the verge of patent expiry and the UAE Government is promoting the

use of generic and OTC drugs. Hence, the pharmaceutical industry is expected to grow at a

CAGR of around 14.5% during 2011-2014.

The report, “UAE Healthcare Sector Forecast to 2012”, provides a comprehensive

research, objective analysis, and information on important issues of the UAE healthcare market.

It studies the healthcare industry by segmenting it into hospital services, medical devices, and

pharmaceuticals. The report contains statistical and analytical information on each of these

segments, covering information on their market size and demand. It also features analysis of

future trends, supplemented with facts and figures. In this way, the report serves as a useful

guide for healthcare companies, government officials, consultants, and investors planning to

enter the UAE healthcare market.

According to the Dubai Chronicle (Feb, 2012) titled “Top 5 businesses to start in Dubai”,

home health care ranked number 3 in this article. I quote “Perhaps the business sector likely to

benefit most from the constant influx of expats to Dubai is the home health-care industry. An

increasingly popular in the Western countries alternative to nursing homes (which are not plenty

in Dubai either), home health-care services are expected to offer patients reasonable costs

while providing them the dignity of being able to remain in their homes. Such services are

almost not available in Dubai and the United Arab Emirates at large. The home care healthcare

industry has also generated many promising niches, including service providers that specialize

in cognitive-fitness computer programs, which help exercise the mind”.

Al Dar Home Care aims to be a leader in the industry of homecare services in the UAE.

Our management puts a long-term vision to be the provider of choice for exceptional home and

community health care services and provider of medical workforce for the UAE.

2.2 Customers Analysis

We can divide our target customers into the following segments:

- Clients who need rehabilitation therapy and other services that are typically utilized on a

short-term after hospitalization for injury or illness.

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- Clients that have serious disabilities to the extent that the services they need cannot be

found through residential or medical clinks.

- Clients who have a limited budget and cannot afford staying in hospitals.

- Clients who would like to receive nursing services while staying at home.

- New born babies and residents in the UAE.

At Al Dar Home Care, you are guaranteed that your loved one will be provided with:

- The best nursing care possible whether it is short term or long-term care.

- Providing continuing education and training for nurses to ensure that our residents

receive the very best nursing care possible and all throughout the UAE.

- Know how management team

- Affordable prices

2.3 Competitors AnalysisWe are facing two types of competitors:

1. Direct competitors: they are institutions who provide the same services to the same

target customers. These companies are listed under Nursing home cares such as

Emirates Home Nursing, Hilal Nursing, and Home for Life.

2. Indirect competitors; Includes all institutions and agencies who provide similar services

to our target market such as senior residential campus, government home care who

provide health care services for eligible residents, and medical clinks who provide a wide

range of services where clients walk in for medical services.

2.4 SWOT Analysis

Al Dar Home Care management team analyzed the company existing situation in the

market place as follows:

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What are our strengths?

- Management skills

- Profitable company

- Qualified employees

- Low turnover rate

- Quality of services

- Variety of services

- Good image

- Job security

What are our weaknesses?

- Low investment

- Low income

- No cooperation from insurance

companies

What are our opportunities?

- Increase of demand

- Expansion to new markets

- Deregulation of health care industry

- Privatization

- Quality standards

- New Technology

- Education and training

- Community services

What are our threats?

- Globalization

- New rivals

- Expatriates workforce

- Lack of health care rules and

regulations

- Increase of operating costs

- Substitute services

- Economic vulnerability

3. Marketing Strategy

The Mission Statement of our marketing department is to “promote home nursing

services that distinguished from others in quality and price”. We build a marketing strategy that

last for a long time of profitability and customer satisfaction.

Many people who are involved in serious accidents or are no longer able to care for

themselves, return to their own homes in the community, they are more “home like” and less

“hospital like’. Residents have far more choices about when they awake, when they eat and

what they want to do during the day. Residents such as elderly parents or younger adults with

physical or mental disabilities or residents who require constant nursing care and have

significant deficiencies with activities of daily living, or any situation where people prefer staying

at home while still receiving nursing care.

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Making the decision to entrust your loved one to a private nurse would be an extremely

stressful and anxious time. They would like to pass the blessing to every family who needs

special nursing care, someone you can trust for the betterment of your loved one.

StrategyAl Dar Home Care marketing team has adopted a Guerrilla marketing strategy in terms

of promoting our homecare services and measuring our success.

Market segmentation: in the industry of homecare services, we divided the market into nine

groups:

1. Adult daycare center

2. Alzheimer patients

3. Single parents who unable to live by themselves

4. Clients’ needs short-term therapy right after hospitalization of accident of illness,

5. Clients with serious disabilities

6. Clients that can’t afford hospitals bills, but they need nursing services

7. Clients that dislike the hospital’s environment, and would like to have the same

level of nursing services at home

8. Baby sitting

9. Transportation

Target marketing: we decided after depth analysis to choose five segments:

1. Clients that need a short-term therapy right after hospitalization of accident of

illness,

2. Clients with serious disabilities

3. Clients that can’t afford hospitals bills, but they need nursing services

4. Clients that dislike the hospital’s environment, and would like to have the same

level of nursing services at home

5. Baby sitting

Market positioning: At Al Dar Home Care, you are guaranteed that your loved one will be provided with the

best nursing care possible whether it is a short term or long-term care. We provide continuous

education and training for nurses to ensure that our residents receive the very best nursing care

possible throughout the UAE.

- Variety: Providing a wide range of home care services that meet a wide range of

client needs.

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- Competent Staff: Providing staffs that are distinguished from others in their

educational degree of nursing and in the years of experience.

- Knowledgeable Management: Our Company is managed by Emirati staffs that

got the knowledge and experience of home care services.

- Quality: Unique services that we provide to our clients and set high quality

standards.

- Affordable packages and prices: Competitive prices in the industry.

Marketing Mix: Product/Service: Al Dar Home Care strives to provide our clients with the best home care and

home nursing services in the UAE. We offer the following homecare services:

General Nursing Care

ICU Nursing

Pediatric Nursing

Obstetrics and Gynecology Nursing

Medical and Surgical Nursing

Orthopedic Nursing

Caregivers

Child-Minding/ Baby Sitting

Patients and Family Health Education

Rehabilitation services

Post-natal massage

Private Duty Nursing for long and short-term care

Physiotherapy and Massage Therapy

Medical Staffing Solutions for Hospital, Clinics and Business Settings

(From Nursing Aides, PT, Nurses, Blood Technicians, up to Doctors)

Although we have too many nursing homes in the UAE, we are different in providing wide range

of home care services targeted many different segments in this industry. Our system allows you

to afford a top quality nursing care. We keep our overhead low to avoid passing high costs to

you. In addition, we believe that our nurses should be satisfied in payments and in treatments.

Price: Al Dar Home Care follow a customized pricing strategy based on customers’ factors.

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This strategy allows us to offer a low price to our customers based on their particular

circumstances while also making a profit. We know that adopting this strategy required accurate

studies of consumer demographics and detailed knowledge of market conditions.

Place: Al Dar Home Care Services location is not necessary to be very close to our clients, we

provide our services in the homes of our clients. Based on the nature of our services, the

location is not made to attract more clients. We are looking for a suitable location in the great

city of Abu Dhabi that is affordable and convenient.

Promotion: At Al Dar Home Care, we are developing an effective marketing campaign to

reach our target market focused on:

UAE Census and demographic statistics

Well-designed website that presents our services and products

Direct mail catalog and direct SMS

Local TV, Magazines, newspapers, brochures, and others.

The timing of the use of media types will depend on the situation

Word- of -mouth promotion

Marketing Objectives:

1. Getting the ISO 9001 Quality Assurance Hallmark during the first three years of

operation.

2. Hire and train certified Nurses with minimum of 2 years of professional experience

3. Provide 24-hours a day customer service and includes all home care services

necessary to meet clients need.

4. Maintain an increase of 5 percent in our service revenues annually.

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4. Management Team

4.1 Operations plan

In this part we are going to explain our action plan, a plan that is going to achieve our

mission. Our action plan is divided into two parts:

Part One: the processes that must be performed to serve customers on a daily bases.

Part Two: the overall business milestones that the company must attain to be successful

(long-term processes).

Part One: The administrative assistant to open new files for new clients and the head nurse

will do the following steps:

1. Prepare for the visit

2. The Nursing bag

3. Visit activities

4. Determine the frequency and duration of Skilled Nursing Visits

5. Closing the visit

6. Post a visit evaluation

7. Make follow-up visits

8. Unexpected and Emergency situations

9. The expected death in the home

10. Discharge a client from service

11. Document the visit

Second Part: The marketing department (Public Relations) will take the lead in this part, the

director of public relations now understand our target revenues, the general manager sets

the strategic plan for the company, then the action plan starts, we know our target market,

we know how to locate them, maybe we know their telephone numbers, we can start to send

our sales force equipped with a catalog of our home care services, we gather information

about their situations, and offer our short-term and long-term services. The general manager

will follow the director of public relations and service revenues, and make sure that the

service was delivered as promised.

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4.2 Organization ChartAl Dar Home Care employed qualified and well trained people to manage this company in

Dubai as shown in the following organization chart. The manager of Abu Dhabi will occupy

his/her position exactly on the time of opening the new branch.

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Owner

Medical Director

Accountant Administrative Assistant

Head Nurse

Public Relations Director

Nurses Caregivers Physiotherapist Drivers

4.3 Personnel Plan

The following chart clarifies the number of staff needed to hire in the new location in Abu Dhabi branch:

5. Financial Analysis5.1 Financial Assumptions

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6. The Appendix

References

1. Dubai Chronicle (2012), “ Top 5 businesses to start in Dubai”. Retrieved July 24, 2012, from http://www.dubaichronicle.com/2012/02/15/small-business-start-dubai/

2. Mourshed, M. Hediger, V. Lambert, T (2006), “Gulf Cooperation Council Health Care: Challenges and Opportunities”, McKinsey and Company, Retrieved July 24, 2012, fromhttp://members.weforum.org/pdf/Global_Competitiveness_Reports/Reports/chapters/2_1.pdf

3. Research and Markets (2011). “UAE Healthcare Sector Forecast to 2012”, Guinness Center, Ireland, Retrieved July 24, 2012, from www.researchandmarkets.com/.../uae_healthcare_sector_forecast_to_...

4. UAE Nursing and Midwifery Council (2011). Forum to Define UAE Nursing and Midwifery Education Strategic Goals. Fairmont Bab Al Bahr hotel, Abu Dhabi.

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