LABORATORY BUSINESS PLAN IN NIGERIA
INTRODUCTION
Medical laboratory business is a very lucrative business to venture into, because of the obvious population growth as well as awareness to be medically diagnosed before taking medications.
Here’s a part of a sample laboratory business plan with a 3 years projection revealing plans and milestones to cover in accordance with the vision and mission of the National bodies of the laboratory scientists in Nigeria.
EXECUTIVE SUMMARY
ACA Diagnostic Laboratory is a limited liability establishment that is co-owned by two scientist who are passionate about lives and human existence.
Mr. Thomson is a laboratory scientist with over 10 years experience working in laboratories of over 3 states in the country while Mr. Stephen is the chief laboratory officer at the university teaching hospital with over twenty years experience overseas before coming to work for the government here in Nigeria.
He will be the CEO and also double as the chief laboratory officer here in ACA Diagnostic Laboratory in Kabba, Kogi State, Nigeria.
Mr. Stephen and his team will bring knowledge and experience alongside competency to the laboratory industry in Nigeria.
We believe that our operational skills and our top-notch customer satisfaction notion will make us a force to reckon with in the laboratory industry.
ACA Diagnostic laboratory will be situated in kabba, Kogi State Nigeria because of the good and sustainable power supply, their good road network for easy accessibility, availability of large land mass and the newly built standard hospital without a laboratory in the neighborhood; we will form a solid alliance with the hospital to always refer patients to our laboratory.
This project will require a start-up capital of N5,000,000 which will be obtained through loan collection from the bank out of which N1,500,000 will be fixed and N3,500,000 will be the working capital that will be used to sustain the business in the first 6 month of opening.
ACA Diagnostic laboratory will generate revenue through tax payment to the government we will also provide job opportunities to the teeming youth in the community.
OUR VISION STATEMENT
To normalize the need of sound medical identification of diseases and the need for the right drugs prescribed thereby reducing incessant death in our part of the world.
To be the most outstanding, efficient, qualified and reliable laboratory in kabba, area of kogi state and within the state at large
OUR MISSION STATEMENT
To be efficient with carrying out accurate laboratory tests and to release authentic result through the knowledge of our well trained and experience personnel and modern up-to-date machine and equipment.
SERVICES we will render at ACA Diagnostic Laboratory includes;
- All Hematological analysis(using blood samples)
- Blood transfusion and immunological analysis
- Microbiological analysis( using blood, sputum, urine and stool samples)
- Histologic processing of tissues
SUCCESS FACTORS
- Liaison with the newly established hospital without a laboratory that refer its patients to ACA Diagnostic Laboratory.
- Our well trained and experienced employee’s relationship with our numerous clients is also a key success factor for ACA Diagnostic Laboratory.
- People preference for our laboratory diagnoses and prescriptions of drugs instead of hospitals that are rather expensive.
- Release of authentic results and at a pocket friendly prices.
MARKETING ANALYSIS
- ACA Diagnostic Laboratory has identified two market segments; the first segment is the doctors that practice in the hospital that is really close to our laboratory. The doctors practicing here send their patients out to our laboratory to have their blood work done. These doctors prefer working with our laboratory because we are relatively close. They patronize us because of the convenience associated with our proximity.
- The second segments comprises of doctors that are located in the state where we are, there is a wide range of specialties dominated by primary health care centres and general hospitals. Doctors in this category have to send their patients to us at the other side of the town to have their blood samples drawn and analyzed. This will happen because there are no standard laboratories in their communities. The identified market we will be serving has approximately 350 private and co-owned hospitals with over 2000 patients, 50 primary health care centres with close to 630 patients, 20 general hospitals that has more than 800 patients that visits our laboratory on weekly basis.
For more detailed, personalized, customized and up-to-date market analysis, request for our business plans today.
Facilities and equipment of laboratory business plan in Nigeria
- Microscopes and slides, for microscopic organisms observations
- Fume hood
- Pipettes and beakers
- Bunsen burners
- Thermometers
- Culture plates and media for culturing organisms
- Centrifuges
- Spectrometer
- Incubator
- Automatic tissue processor
- Clinical refrigerator
- Diagnostic processing
- Culturing processes
- Biochemical reactions
- Centrifugation of fluid samples
- Incubation
- Colorimetry
- Photometry
- Staining
TARGETED CLIENTS FOR ACA DIAGNOSTIC LABORATORY IN NIGERIA
- Pregnant women and nursing mothers
- Old people and children
- Patients(sick people)
- Healthy people coming for checkups on regular basis
MARKETING STRATEGY FOR ACA DIAGNOSTIC LABORATORY IN NIGERIA
- A functioning website
This will be our first stop. We in ACA diagnostic laboratory have an understanding that in the era of information and technology with every one carrying an internet-enabled device in their pocket information travel far and wide on the internet.
The first place a patient will search will be on the internet, he will check our website to understand our practices, services and our customers’ reviews.
We have equipped our website with the needed information about our laboratory.
- Use of social media
Everybody today is conversant with the use of social media therefore ACA Diagnostic laboratory will employ the use of social media to market our laboratory, we will have a post schedule per day on our official page that is telling people our general wellness or medium through which they can avoid infections and most time talk about our laboratory and feedback from customers.
This will bring traffic to our pages on the social media.
- Word of mouth/ oral marketing
The best form of marketing is the one done by a happy and satisfied clients, current patients and current employee of our laboratory, we treat our employees with utmost care and we always keep our patients satisfied because they are the company’s spoke persons.
This two will go along way to tell others about our laboratory.
SWOT ANALYSIS
STRENGTHS
- Availability(a clinical laboratory opens 24 hours a day)
- Profitable performance
- Speedy delivery of results
WEAKNESSES
- Incomplete automation
- High direct labor expenses
- There is no system in place to measure labor efficiency
- Outdated information systems
- Lack of in-house capabilities for analyzing results
OPPORTUNITIES
- Automation
- Adding services such as Gene-based tests
- Reduction In direct labor expenses
- Increase in information
THREATS
- Reduced tests for outpatient services
- Reduced test for primary health care
- Competition
- Tax and government regulation
- Insurance policies
- Startup funds
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