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Updated by Sarkis Hakopdjanian on Oct 11, 2019
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Top 7 Business Planning Benefits

A business plan is a roadmap for your health and wellness practice. To learn more about writing a business plan, please visit:

Edmonton Business and Marketing Plan

Source: https://business-clinic.ca/business-plan/

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Introduction

A business plan is a roadmap for your health and wellness business. It describes the nature of your practice, your business goals, how these goals can be achieved, and your financial projections.

Your business plan is your internal roadmap for you and your team. It is also an external pitch for lenders and investors to provide you with financing to launch or expand your practice. Most banks and financial institutions will require a business plan to apply for a business loan.

A marketing plan is one component of your business, focusing primarily on how you will promote your business to attract new clients. The success of many healthcare businesses in Edmonton depend on their ability to attract new patients to their practice.

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1. Strategic Roadmap

Create a strategic roadmap to effectively launch or expand your healthcare business.

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2. Business Loan

Apply for funding from banks and financial institutions.

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3. Investment Capital

Pitch your business to investors to secure investment capital.

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4. Financial Statements

Historical and projected financial statements prepared by a Chartered Professional Accountant (CPA).

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5. Business Goals

Set business goals and objectives to focus on your core business competencies.

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6. Manage Cash

Manage your cash flows and expenses with clear guidance from financial professionals.

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7. Measure Performance

Set milestones and track key metrics to measure your performance.