Business Plan for Legal Nurse Business Plan

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Total Length: 1974 words ( 7 double-spaced pages)

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This is further based on the following assumptions:

1. The company will charge $150 per hour for each client.

2. The company expects to spend at least 80 hours a year with each client.

3. The company expect to see at least 30 clients per year, which will generate a revenue of $150 x 30 x 80 = $360,000. For the purpose of this computation, this will be regarded as the selling price.

4. The company expects its yearly fixed costs to be $526,000. This fixed cost consists of the cost of staff remuneration, utility bills and advertising.

5. The company expects its variable costs to be about $344,000 a year, comprising of the cost of equipment servicing and maintenance, legal costs, and so on.

Given the above assumption, the company's yearly break-even point can be computed as follows:

The implication of the above computation is that LNS must service at least 33 clients per year in order to break even.

Projected Profit & Loss

LNS's projected Profit and loss, based on information from the previous section and on data from sales forecast on table 3 is presented on table 4. From the information on table 4, it can be seen that LNS's business will be a lucrative one.

Table 4 -- Projected Profit & Loss Data

2011

2012

2013

2014

2015

1. Sales ($)

660,000

900,000

1,140,000

1,440,000

1,452,000

2.

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Total Expenses (Operating costs, staff remuneration, tax, and so on)

778,000

809,000

810,000

809,000

812,000

NET PROFIT

118,000

91,000

330,000

631,000

640,000

Evaluation plan

LNS's operations will be considered successful when the following situation occurs:

1. LNS's service acceptance rate increases by at least 40%;

2. The company's revenue and market share increases by 50% within the third year of operation;

3. The company's profit increases by at least 20% every year;

4. The company's return on investment (ROI) becomes at least 20% every year.

Conclusion

The demand for the services of LNS will continue to grow in the United States due to the ongoing dependence of U.S. attorneys on legal nurse consulting services. This assertion is simply a reflection of the fact that most attorneys are not well-informed about how to properly read and interpret medical records or medical terminologies and other related health issues. Besides, a large proportion of attorneys know that they can provide stellar services to their clients if they have someone to help them in reading medical records and in analyzing and interpreting the subtleties of healthcare issues. This explains why they will have insatiable demand for LNS services. As was shown in.....

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