Business Plans for Shared Resource Labs

The “Why” and “How”Joanne Lannigan, M.S.Director, Flow Cytometry Core

So What is a Business Plan?

Strategic vs. Business Plan

Strategic Plan: What you want to achieve and why

So What is a Business Plan?

Strategic vs. Business Plan

Business Plan: Detailed description of how objectiveswill be achieved

Sacramento International Airport 6900 Airport Blvd, Sacramento, CA 95837 • Get on I-5 N from Aviation Dr

1.6 mi / 3 min • Continue on I-5 N. Take CA-113 S to

Old Davis Rd in Solano County. Take the Interstate 80 E exit from CA-113 S

20.0 mi / 19 min • Drive to Old Davis Rd in Yolo County

0.8 mi / 2 min • Turn left onto Old Davis Rd

0.4 mi• Keep right to stay on Old Davis Rd

0.1 mi• At the traffic circle, continue straight to

stay on Old Davis Rd 0.3 mi

• Make a U-turn • Destination will be on the right

141 ftUC Davis Conference Center Distance 22.4 miles Time 24 mins

Strategic Plan

Business Plan

Do I Really Need a Business Plan??Yes!!! And here’s why:

Plans that happen haphazardly or reactively are never the best laid plans

Do I Really Need a Business Plan??Yes!!! And here’s why:

Evaluating resources, customers and competitors provides the framework from

which the plan will be derived

Do I Really Need a Business Plan??Yes!!! And here’s why:

The exercise itself will give you a better handle on the big picture

Do I Really Need a Business Plan??Yes!!! And here’s why:

Objectives and goals will be better defined

Basic Format of a Business Plan

I. Executive Summary- Highlight Key aspects of the plan

- Best written in the end- Serves as a concise description of what is to follow- ½ page

II. Rationale- Why is the core needed?

-What makes this core unique?-Provide a historical justification of the core’s value

Basic Format of a Business PlanIII. Description of the core

-Mission of the core-Organizational Structure-Core services offered-Location -Equipment-Access and Operational Plans

IV. Demand for Services-Who will use the facility/service?-What is the anticipated usage?-What is the basis of the anticipated usage?

Basic Format of a Business PlanV. Analysis of competition

-Who are the local/external competitors?-What advantage does the core have over its competitors?-What do competitors have that may pose a threat to the success of the core?-Include market rate analysis

VI. User Fees & Pricing-Associated costs and pricing for each service-What are other sources of revenue (subsidies)?-Include price matrix-How do prices compare with market/competitors?

Basic Format of a Business PlanVII.Implementation Plan

-Provide timeline, milestones and describe what has already been accomplished-Marketing Plan-Usage tracking, billing and collection processes-Review process for success and evaluation of customer satisfaction

VIII.Budget-Budget justification narrative-Identify sources of funding/subsidies required-How do you plan to deal with profit/deficits?

Basic Format of a Business PlanIX. Future Plans

-New Services/Markets-New equipment purchases-Anticipated space/facility changes-Future threats

X. Appendices-Detailed 3 year budget; expenses and revenue-Detailed rate calculations-Market rate comparison chart-Table of organization-Historical usage data

Important Characteristics of a Business Plan

AchievableEasy to Read Concise

Accurate

Compelling

Believable

ActionOriented

• The purpose of your Business Plan is to support the successful implementation of the programs identified in the Strategic Plan of your organization

• The Business Plan provides a detailed description of how objectives will be achieved, along with the necessary justification

• A good Business Plan makes a compelling case to those who must approve it and provide the required funding or other necessary resources

In Summary

For more info contact the MADSSCi/SEASR Planning Committee Janette.Lamb@madssci.abrf.org

Thank you for your attention!

Questions???