Business plan for Paws Veterinary Hospital

Paws Veterinary Hospital

Pets Hospital

Betoull Dashti 16108

Sara Al Hindi 20088

The 3,000,000 KD capital input in the business will be used to buy the necessary equipment so that the organization can provide the service to its market target. This money will be used to buy drugs, insurance, cleaning gadgets and even pay for the insurance that will cover the business. About thirty percent of the capital will be used in buying the products and offering the services; equivalent to 1,000,000 KD. Another 1/8 of 2,000,000 will be set aside for training purposes to ensure that all staff members are aware of what their customers expect to receive from the hospital.

The 250,000 KD will also be used to buy a uniform for the staff members to help their customers identify relevant personnel to ask questions if the need arises. Uniformity in the organization will also help the management get organization when it comes to running the business. The remaining balance, which is 1,750,000 KD, will be used in running the business and thus, this amount will cater for staff salary, miscellaneous things and petty cash. Furthermore, the management will also be given a small amount of their salary to enable the organization to have some money that will help them in sustaining the activities of the Hospital. When starting a business, it is also vital for management to set aside some amount of money for emergencies and savings that will go a long way in helping them get financing from banks and other financial institutions including investors. Therefore, the remaining amount will set aside 500,000 KD as savings, and this will be used when the company is in a fix and needs boosting. This money will also help in growing the company because management will use the money to realize organizational dreams in a systematic and organized way that promotes the development of activities and other productive aspects of customers, employees, and managers of the hospital.

Tasks involved:

Paws Veterinary Hospital will be linked to schools and pet owners. This will help in educating them more on taking care of their animals. School going children will need to be educated and learn more about the different aspects of taking care of their animals. Therefore, the hospital will work together with school boards in organizing field trips and provide the students with educational talks. Through all this, the organization intends to help the students learn about different topics. Some of the topics related to the organization's mission and vision are taking care of a pet, feeding, how to handle a pet, grooming, and veterinary career information among others. The passion of starting the organization is attributed to the aim of caring for and saving animals, which can only be achieved by educating the members of the public. In return, this will help them ensure that their pets live longer and have healthy lives.

The pet owners will also be given educational talks, and classes will be formed to help improve their knowledge on effective animal welfare and pet-owner relationships. The veterinary surgeons at Paws will hold the talks once every month because of the increasing numbers of household pets in Kuwait. During the talks, pets will not be allowed because they are a form of destruction, but children can be tagged along because they are also stakeholders in the care management process of the pets. Pet owners will also be given information that concerns advice and information of the pets such as transporting the injured pet, dealing with behavioral problems in dogs, pre and post-surgery care, weight control, feline nutrition and care, vaccinations and traveling with pets. Since we are just starting, then these things will serve the organization well in trying to embrace the community to accept their organization as a good hospital that will care for their animals.

Mission

The mission is to improve the health and happiness of animals and the people who care for them. It is the mission of the hospital to provide the highest quality of medical and surgical care to pets through excellent service to our esteemed clients. This will be possible by following the highest standards of veterinary professional available. Paws Veterinary Hospital will provide the best working environment for our employees and other professional colleagues. We shall also give back to the community our services and time with the hope of further strengthening the bond between humans and animals.

Description of Products and Services:

In Paws Veterinary Hospital, both products and services will be provided to the customers.

Services:

Medical Services: Medical, surgical and treatments.

Grooming Services: Brushing and cleaning.

Training Service: Helping pets to enhance their behaviors and adjusting to the environment around them.

Insurance: Guarantee for illnesses, injuries, and death.

Products:

Pets Pharmacy: Medicines and drugs for pets.

Pet Store: Accessories and food.

Technology Considerations

In the field of medical care, technology considerations are critical, because present equipment and kits play a big role in treatments and healing processes.

List of the equipment needed so far:

- Anesthesia

- Electrosurgical equipment

- Veterinary monitors

- Endoscope

- Infusion Pump

- Veterinary Medical Gas Systems Creation

- Laboratory Microscope

- Surgical Microscope

- DRE Vision LED Surgery Lights

- Surgery Tables

- DRE Stainless Steel Mobile Table

- DRE Stainless Steel Wet Table

- Service Tower

- Animal Stretcher

- Medtronic Physio-Control

Stakeholders:

Public trust needs to be enhanced in Paws Veterinary Hospital. The promotion of safe and effective use of FDA-regulated animal products needs will be possible with the collaboration of:

- Veterinarians

- Top and senior managers

- Pet owners

- Graduates

- Animal advocacy groups

- Trainees

- Employers from private and government sectors

Marketplace:

Market Penetration:

In Kuwait, the market of pets and vets hospital is very low and weak; Paws Veterinary Hospital will be the fourth hospital in Kuwait to provide such a service. Service for animals is very low in Kuwait, and Paws Veterinary Hospital will be providing this kind of unique service.

Marketing Strategy:

- Massive campaigns (Bill bored, Newspapers and TV Ads in Cinemas)

- Social Networks

- Participating in Exhibitions

- Massive Pets Event to introduce our Idea

Organization and Staffing

- Certified Veterans

- Trained Staff

- Staff with Experiences

Future goals:

Paws Veterinary Hospital's future goals are linked to its values that encompass the care and compassion aspect of treating all people and animals with kindness and empathy. Quality and affordability are the future goals of the center where we intend to work together in an environment that is safe to provide services that are accessible and sustainable and of the highest standard. The center should have the courage to do what is right, be accountable for our actions and communicate with honesty and courteously. Thus, the center should emphasize with integrity and respect at all times of their operations. We will strive to achieve our mission and vision on a daily basis; the top priority of the hospital is to deliver the best experience to clients and patients by providing the highest medicinal quality of care. In future, we expect to have continuous education through having house seminars, national conferences, and online webinars. Paws Veterinary Hospital wants to be able to provide the most current information on varied topics to our esteemed clients. In turn, our clients will be able to make well-informed decisions about their pets' health care, and they should always feel confident coming to Paws Veterinary Hospital for the treatment of their pets.

Business Idea:

Paws Veterinary Hospital intends to utilize all its resources in an efficient way in meeting organizational goals and objectives. The clients should remain happy at all times and therefore, the human resource management plan should distribute the duties depending on one's strengths and weaknesses. Therefore, pairing the members into teams makes them competitive and advocates for them to work together and build strong bonds that realize company mission and vision. The operational plan is to ensure that all the needs of the clients are met hence placing the needs of the patients first because they are important for the success of the company. The financial plan will stipulate all the required details basing on the assets, liabilities and other aspects that relate directly to the success of the company.

Environmental Analysis

External Environment Analysis

Opportunities

The opportunity of Paws Veterinary Hospital is that it has a high market size and trend. The sizeable population of the industry is high, and the animal population of Kuwait makes it a largely untapped market.

The profitability of the market is high because only four companies are practicing veterinary medicine in the country. Therefore, Paws Veterinary Hospital will make profits in the industry.

Threats

The high cost of sales and marketing, competition from regional players has made the profession difficult to penetrate especially for start-up businesses.

The industry has unregulated competition from generics, as well as, local and regional veterinary pharmaceuticals companies.

Five Forces Model:

Bargaining power of buyers: High

Buyers include retailers, stockiest, and veterinarians.

Medicinal feed supplement has the buyer power as very high. In therapeutics, customers have very little powers of bargaining because the veterinarian practitioners prescribe the medication. Thus, customers will have to buy the drug at any given price if they need it.

The retailer's buyer power is very high due to the regional company, and some new entrants would offer high promotional discounts and credit facilities to make their products available. Pricing pressure is high due to the development of new markets and as such, this has significant pricing flexibility.

Bargaining power of suppliers is moderate, and all this is attributed to the less number of companies in the market. Switching costs are high, and this prevents companies from switching from one company to another. The animal healthcare industry is a primary manufacturer with few and diversified suppliers. The suppliers have little room for negotiations.

Threats of substitutes are high, and this is attributed to low costs and finding substitute medicine is easy if the original product is more expensive as compared to human medicine. However, since the products and services are still new in Kuwait, consumers will have no choice for alternatives. The high margins and the promotional discounts also justify the existence of fewer substitutes for pets' products.

Threats of new entrants are moderate because of the low barrier entries and making the products available to all retail outlets is time taking and expensive. The large economies of scale create high barrier entries and thus, for small-scale start-ups they will require significant amounts of capital and will face many risks. The required amount of capital investment is heavy.

Competitor rivalry is high becase of the existing barriers in Kuwait. Moreover, industry growth is slow and takes time, plus lower fixed costs and high working capital. The rivalry between companies is heavily severe: the processes of pets' pharmaceuticals are similar to that of humans, which creates high development costs and the release of new drugs. Competition is also huge based on product price among various companies.

Resources of the company

The company has sufficient human resource that will manage to deliver the product and service to the target market in a professional and intelligent way that meets the standards of the industry.

The technological advancement is also a resource that is beneficial to the company in meeting the diverse needs of their patients who come with varying problems. The tangible resources comprise the financial, physical, human resource and organizational resources, and all these represent inputs into a firm's process of production such as employee skills, capital equipment, finances, talented managers and brand names. The intangible resources include technological and innovation.

Capabilities of the company

The capabilities of the company include meeting the needs of a wide variety of clients within a short period because their personnel are well trained and equipped with the knowledge necessary to provide the service to their target market.

Four Criteria of Sustainable Competitive Advantage

The valuable resources of Paws Veterinary Hospital are rare and continue to allow the company to improve their efficiency and effectiveness. The company will achieve sustained competitive advantage through building on their trainees and employees skills that meet the needs of their clients.

The scarce resources of the company are what will make Paws Veterinary Hospital possess control competing firms. The ability of the employees to deliver service and excellent customer service to their patients is what makes the hospital have rare resources.

The experience and training given to the employees are not imitable, and this resource is what makes it impossible for other companies to duplicate because it is costly and even difficult.

The non-substitutable resources are what make the company have resources that are not imitable by the competing company such as qualified personnel.

Value Chain Analysis

The primary activities of the company are directly involved in transforming the inputs and outputs in delivering services and products and even after-sales support. They include inbound logistics where material handling and warehousing are vital. Operations will look at transforming inputs into the final product for the client. Outbound logistics will ensure order processing and distribution: marketing and sales where pricing, communication, and channel management are investigated. Services will entail installation, repair and parts of the equipment used in the company.

The support activities will look at giving support to the primary and other support activities all that are handled by the staff. They include the procurement aspect where the purchasing of raw materials, supplies, and assets are all incorporated.

Development of technology (technology inputs needed in every value chain activity).

Human resource management includes appraisal; labor relations; selection, placement, and promotion. Company's infrastructure looks at the accounting, government affairs, legal and quality management among others.

Strengths

Weaknesses

Resources, capabilities or competencies

Action

Sizeable population

Highly fragmented channels of distribution

Advertising resources

Ensure the company is well advanced regarding reaching to its target population and market segment

Faster animal-health research and development

Low capability and motivation for research

Research capability

Advocate for the implementation and onset of research and development centers to facilitate the growth and development of the company

The population has a largely untapped market

Low barriers to entry and this lead to increasing competition and prices become competitive

Competition competencies

Engage with rivalry companies to ensure the company meets its set mission and vision

Drug competition is less susceptible to generic influence

Lack of appropriate marketing research

Resources

Managers should look into opening new avenues that will promote their marketing tactics