Business Plan

FOR

YOMOH HEALTH LIMITED/BRIDGINGSPACE APP

Prepared by: EDET EKPENYONG
Business Name: YOMOH HEALTH LIMITED
Address Line 1: 82 CALABAR ROAD
Telephone(s): +2348063840682
E-Mail: edetekpenyong11@gmail.com
Date: 03/07/2020

Executive Summary

EXECUTIVE SUMMARY
Yomoh Health Limited is a for profit organization that seeks to solve critical problems in the health community with a social impact. As a social enterprise, we desire to provide quality healthcare services to clients through the use of disruptive technology and accessible linkages.
Through this app, critical problems in mental health will be solved with a social impact. BridgingSpace app is seeks to provide therapy and counseling for affected communities in Nigeria suffering from mental illnesses as well as provide referral services to clients (critical cases) through a network of Healthcare Care Providers. This app will be available to all android and iOS users.
Our desire is to make equity in mental health a leader-driven priority while continuously developing structures and processes that support the health sector.
Hence our services will include:
• Therapy & Counseling sessions
• Hosting of Online Content
• Referrals
• Life Skills Trainings
• E-books & Podcasts Subscriptions
• Mental Health Tips & News
Our target customers includes young people which make up the highest population in Nigeria that are constantly going through challenges and trials in a bid to meet up with the word’s pace and achieve their goals. Statistically, they also have the highest number of suicide attempts and suffer depression, anxiety, addiction, eating disorders, post traumatic stress, relationships and abuse. BridgingSpace app is targeted mostly towards young people who fall under this category.
However it has no limitations to target audience based on time, place and age. Hence, our target market will include:
I. High School Students
II. University Students
III. Parents of High School Students
IV. Working Class
V. Corporations
VI. Government

According to the Annals of Nigerian Medicine, mental health disorders are estimated to peak at an alarming statistics of over 15% by the year 2020. This will disable more people than complications arising from AIDS, heart disease, accidents, and wars combined.
Hence, our goal is to reduce the plague of depression, anxiety, addiction, eating disorders, post traumatic stress, relationships and abuse (in the nearest future) to reach underserved communities, support the development of strategic planning, regulatory, and monitoring mechanisms known to improve health system performance. Others include:
• To provide counseling and therapy for individuals affected by mental illnesses such as depression, anxiety, addiction, eating disorders, post traumatic stress, relationships and abuse through our mhealth app that interfaces clients with therapists.
• To provide holistic services such as referrals (access to healthcare linkages & providers), hosting of online content, life & soft skills trainings and e-books.
• To provide communities in Nigeria with mental health education/hackathons.
• Engage in strategic surveys and life skills workshops that will erase debilitating indicators of Mental Health Disorders.
• Aid in improving awareness of the seriousness of Mental Health Disorders as a public health problem globally.

• Reduce stigma related occurrences associated through the use of non-sensational languages and letting people who are struggling with mental health issues know that they are not alone.
To belong to the team of government & private healthcare deliverables.  
Company Description
Mission Statement:

• To provide clients with affordable and safe healthcare delivery by using a digitally driven ecosystem to enable them access our medical services.
Our flagship innovation, BridgingSpace is a social impact cause that utilizes technology as a tool to solve critical problems in mental health.

key members of company and their roles:
•
Founder/Chief Executive Officer
Edet Ekpenyong is a licensed Medical Laboratory Scientist from the University of Calabar. He is a Community Development Strategist and a certified Project Manager in Global Health from the University of Washington. He has years of experience working with notable nonprofit organizations such as Maryland Global Initiatives Corporation and UNICEF.
Also has background in Leadership and Management in Health, Google Digital Skills, IBM in Design Thinking and West African Bioethics Certifications. Currently, a Global Peace Index Ambassador from the Institute of Economics & Peace in Sydney, Australia. He is an innovator with varied interest in engaging systems to proffer solutions to Public health challenges through evidence based research & low cost interventions. Edet is an entrepreneur with a strong passion for Mental Healthcare in Nigeria and beyond.

Head of Medical Operations
Dr Ekpo Edet is a certified Medical Doctor with the Medical and Dental Council of Nigeria. He is an alumnus of the University of Calabar. He has a deep passion and commitment for improving the health outcomes of populations and strengthening health systems through innovative and evidence-based practices.
He has several excellent years of experience through clinical practice and service in reputable facilities and organizations and is currently a Consultant for a Health Financing Project in Nigeria. He has a sincere, unflinching interest in public health-related issues and a resolute decision to provide lasting, positive solutions that would realize healthier and more productive communities.
He possesses a strong knowledge of the health insurance industry and has the wherewithal to improve referral systems. He loves every new opportunity for learning, and is quite enthusiastic about providing empathic, rehabilitative care for individuals with mental health challenges.
He has several credible certifications but notably from the World Health Organization (WHO), United States Agency for International Development (USAID) and John Hopkins Bloomberg School of Public Health.

Head of fitness & wellness
John Nse is a Certified Fitness Professional IREP Level 1 and Europe Active Level. He has deep interest in Preventive and Corrective Therapy Coaching and is a Member of the Association of Fitness and Wellness Professionals, AFP Nigeria.
Currently Managing Consultant for Preventive and Corrective Therapy Coach, PhysiqPlus Services as well as Associate and Business Partner Trissie’s Fitness LTD, John is experienced in Business and Professional Brand Concept one of which is the creation of purchasable commodities attached to the Personalities, Work style and Lifestyle of clients in Nigeria. John is a Multi Competitive Sport Athlete, with a zeal for enhancing the quality of life of People.

Chief Technology Officer
Ukorebi, Peter is a Computer Programmer and a UAS Pilot from Moscow Aviation Institute, Moscow Russia.
A savvy technologist who has worked on data analysis for Higgs Boson Elementary Standard Model at CERNs, Large Hadron Collider.

Head of Standard and Quality Assurance
Aliu Israel is a Quality Management system Consultant with over 10 years experience including Technology Applications, Quality Assurance and Control Management, Automations, Procurement, Supply chain, Logistics, Sales and marketing, Customer relationship management, project management, data analysis, facility management, Start up and Strengthen of healthcare facilities, Public Health, Disease surveillance, innovation and Clinical Laboratory Management.
Has background in Leadership, Management, experienced in ISO 9001, ISO 15189, 13485, and more ISO standards as well as certification, accreditation and regulatory requirement across the Health and manufacturing industry.
Consulted for many Health Care organizations and currently training over 2,000 health professionals on Quality management system.

• What is the legal structure of your company?
Yomoh Health Limited is a Limited Liability Company with registration number RC 1582665.
BridgingSpace is an innovation of Yomoh Health Limited, that will provide mental healthcare services.

COMPANY SWOT ANALYSIS

Strengths
1. Strong Management
Availability of qualified professionals & trained staffs that have practical expertise as well as passion and commitment to achieve set goals & objectives.
2. Uniqueness
BridgingSpace is an innovation that is the first & foremost source of mhealth mental health service (Online Therapy & Counseling sessions) in Nigeria & Africa.
3. Low cost of Labour
The labour will cost less compared to International competitors because of the exchange rate.
4. Ease of use
Flexibility in rendering of broadband services & ease of use of a safe, secure and digitally equipped ecosystem for systemic operations. More clients will mean escape velocity (fast growth) as marginal cost is zero. Hence they’re attractive to incubators and sponsors who take equity for risk funding.
5. Incorporation of language as a unique selling point.
Weaknesses
1. Lack of Capital:
The project might is a bit capital intensive and it lacks major capital for Start-up.
2. Lack of International Partners:
3. Insufficient workforce in the area of psychotherapists, psychiatrists and psychologists.
4. Adept skilled competitors such as Talkspace & Betterhelp due to many years of experience.
Opportunities
1. Local Partnership:
Many local organizations and agencies will be willing to partner with BridgingSpace as this social enterprise is the first of its kind in Nigeria.
2. Government Establishment:
Government establishments will want an independent evaluation and treatment of its staff.
3. Private Organizations:
Collaborations with nonprofit organizations:
4. Evident-based practices and low cost interventions will aid in developing policies and deliverables aimed at creating synergy and sustainability.
5. Availability of market:
It is a lucrative business because of the increasing rate of suicide and depression in Nigeria organization.
Threats
1. High sales & global competition:
Global Market competition from well established institutions such as Talkspace, Intellicare& Self-help for Anxiety Management (SAM).
2. Marketing challenges:
Poor market perception in Nigeria.
3. Resistance:
Inadequate knowledge of clients concerning the debilitating factors of mental health issues.
4. Scarcity:
There is scarcity of Psychotherapists and Psychiatrists with some of the available ones are inadequately trained psychologists & counselors.

 
Market Analysis

The mobile health industry is slowly taking over the market due to stringency and inefficiencies in some sectors of the healthcare industry. The rise of mobile health applications in developed countries such as Headspace, Betterhelp, Big White Wall, Intellicare, Self-help Anxiety Management (SAM) are key indicators that BridgingSpace can favorably compete because the product is unique to African digital ecosystem and also relevant to other continents of the world.

Target Audience:
• High School Students
• Tertiary Institutions Students
• Parents of High School Students
• Working Class
• Corporations
• Government Agencies

This makes up 30% (60 million) of the 200 million people living in Nigeria with mental illnesses.

COMPETITIVE ANALYSIS
Names of competitors Your company name
Yomoh Health Limited (BridgingSpace) Competitor A
Teladoc, Inc.
(Betterhelp) Competitor B
Groop Internet Platfrom Inc. (Talkspace)
Location of Competitors? Nigeria United States of America United States of America
Products and services offered? Online, Mobile Therapy & Counseling sessions

Hosting of Online Content

Referrals

Life & Soft Skills Trainings

E-books & Podcasts Subscriptions

Mental Health Tips & News

Online, Mobile& Phone Therapy Sessions.
Web App Articles Online & Mobile Therapy Service.
Pricing strategy? $74/per Video Calls Session (1:30 mins) and unlimited messaging.

$54/per Audio Calls Session and unlimited messaging.

$40 for messaging service (unlimited messaging)

$2.8 messaging 4 times (once a week) in a month.
$65/week for the first month. Includes unlimited telephone, video and live chat sessions based on the therapist availability.
Depending on the subscription length, charges between $35 & $80 per week after the first month. $65/week for daily response, 5 days a week
$79/week for daily response, 5 days a week + one 30 Minute Live Session per month.
$99/week for daily response, 5 days a week + Four 30 Minute Live Session per month.

What is their uniqueness? Low cost intervention

Flexibility in payment for services.

Better Intake Assessment

Unlimited Messaging
Unlimited Live-Chat Sessions offered

Overall Quality of Experience

Cost Substantially less if you subscribe for longer periods

Transparent Customer Feedback and Reviews Unlimited Messaging

Better Intake Assessment

What are their other strengths? Hosting of Online Content
Referrals
Life & Soft Skills Trainings
E-books & Podcasts Subscriptions
Mental Health Tips & News
Web Experience
Mobile Experience
Sign-Up Process
Messaging
Audio Sessions
Video Sessions
Great Response Time
HIPAA Certified & 256-bit Symmetric Encryption.
Quality Payment Methods. Web Experience
Mobile Experience
Sign-Up Process
Messaging
Audio Sessions
Video Sessions
Phone Sessions
Great Response Time
Ability to Switch to a New Counselor by Browsing profiles.
HIPAA Certified & 256-bit Symmetric Encryption.
Quality Payment Methods. Web Experience
Mobile Experience
Sign-Up Process
Messaging
Audio Sessions
Video Sessions
Great Response Time
HIPAA Certified & 256-bit Symmetric Encryption.
Quality Payment Methods
What are their weaknesses? There may be Poor Local Market Perception. Lack of direct communication and wait time (24 hours or longer) to process your intake assessment. This could be detrimental to someone facing an immediate crisis. Limited Live-Chat/Video Sessions offered and only available on mobile app and not desktop/laptop computer.
Poor Customer Ratings on Better Business Bureau(BBB).
Phone Therapy Sessions not offered.
No Browsing Profiles Available To Switch To A New Counselor.
No Customer Feedbacks and Reviews.

How long have they been existing? 3 years 6 years 7 years

 
Service or Product Line

BridgingSpace will consist of the following key functionalities to provide a user-friendly and quality experience. This will include the basic services such as:

Therapy & Counseling sessions
These services will be provided by specialists, it will be quality therapies and counselings for treatment of depression, anxiety, addiction, eating disorders, PTSD (Post Traumatic Stress Disorder) and Drug Abuse.
This services will be provided by trained and licensed psychotherapists, psychiatrists, psychologists and counselors who are experts in treatment of depression, anxiety, addiction, eating disorders, PTSD (Post Traumatic Stress Disorder) and Drug Abuse for effective delivery to clients who subscribe to our services, additional services will include:

Hosting of Online Content
This will include hosting of organizations who own health institutions, health maintenance organizations, pharmaceutical companies or small business outfits (clinics, laboratories, others)

Referrals
BridgingSpace doesn’t intend to replace traditional medicine. Hence, severe cases of mental illnesses and other cases will be referred to partnered health institutions for proper diagnosis and treatment. This will be subject to a percentage cut depending on an agreed and signed contractual agreement between Yomoh Health Limited and potential partners. .

Life & Soft Skills Trainings
Life skills are an important facet for individuals (unaffected/affected) in order to develop a healthy approach (mindset remap) to deal with life’s challenges. BridgingSpace will provide clients who subscribe to these services with an online training through life skill coaches. We intend to also engage in onsite training targeted for high school students in the nearest future. This will aid in erasing debilitating indicators of Mental Health Disorders.

E-books & Podcasts Subscriptions
This will involve developing quality content for reading and listening to podcast. This will be developed from our team as well as partnered authors and content developers based on an agreed percentage.

Mental Health Tips & News
Important mental health facts for a subsidized subscription will be provided to individuals who signup but do not want to use our therapy sessions or the above listed offerings. This will be done by our SEO & SEM Experts and Content Developers. Mental Health Tips & News will:
Aid in improving awareness of the seriousness of Mental Health Disorders as a public health problem globally.
Improving knowledge of what can be done to prevent issues related to Mental Health.
Reduce stigma related occurrences associated through the use of non-sensational languages and letting people who are struggling with mental health issues know that they are not alone.

pricing structure: The services will include Depression Therapy
• Anxiety Therapy
• Addiction Treatment
• Eating Disorders Treatment
• PTSD Therapy (Post Traumatic Stress Disorder)
• Relationship Counseling
• Drug Abuse Treatment

The severity of the condition will determine the type and number of sessions that will be administered to clients.

Product/Service: Price Structure/Cost:
Video Call session $74 per session
Audio Call session $54 per session
Messaging $40 per session

BridgingSpace will consist of the following key functionalities to provide a user-friendly and quality experience. This will include the basic services such as:

Therapy & Counseling sessions
These services will be provided by specialists, it will be quality therapies and counselings for treatment of depression, anxiety, addiction, eating disorders, PTSD (Post Traumatic Stress Disorder) and Drug Abuse.
This services will be provided by trained and licensed psychotherapists, psychiatrists, psychologists and counselors who are experts in treatment of depression, anxiety, addiction, eating disorders, PTSD (Post Traumatic Stress Disorder) and Drug Abuse for effective delivery to clients who subscribe to our services, additional services will include:

Hosting of Online Content
This will include hosting of organizations who own health institutions, health maintenance organizations, pharmaceutical companies or small business outfits (clinics, laboratories, others)

Referrals
BridgingSpace doesn’t intend to replace traditional medicine. Hence, severe cases of mental illnesses and other cases will be referred to partnered health institutions for proper diagnosis and treatment. This will be subject to a percentage cut depending on an agreed and signed contractual agreement between Yomoh Health Limited and potential partners. .

Life & Soft Skills Trainings
Life skills are an important facet for individuals (unaffected/affected) in order to develop a healthy approach (mindset remap) to deal with life’s challenges. BridgingSpace will provide clients who subscribe to these services with an online training through life skill coaches. We intend to also engage in onsite training targeted for high school students in the nearest future. This will aid in erasing debilitating indicators of Mental Health Disorders.

E-books & Podcasts Subscriptions
This will involve developing quality content for reading and listening to podcast. This will be developed from our team as well as partnered authors and content developers based on an agreed percentage.

Mental Health Tips & News
Important mental health facts for a subsidized subscription will be provided to individuals who signup but do not want to use our therapy sessions or the above listed offerings. This will be done by our SEO & SEM Experts and Content Developers. Mental Health Tips & News will:
Aid in improving awareness of the seriousness of Mental Health Disorders as a public health problem globally.
Improving knowledge of what can be done to prevent issues related to Mental Health.
Reduce stigma related occurrences associated through the use of non-sensational languages and letting people who are struggling with mental health issues know that they are not alone.

pricing structure: The services will include
• Depression Therapy
• Anxiety Therapy
• Addiction Treatment
• Eating Disorders Treatment
• PTSD Therapy (Post Traumatic Stress Disorder)
• Relationship Counseling
• Drug Abuse Treatment

The severity of the condition will determine the type and number of sessions that will be administered to clients.

Product/Service: Price Structure/Cost:
Video Call session $74 per session
Audio Call session $54 per session
Messaging $40 per session
 
Marketing and Sales

We will run a monthly marketing campaign for 12 month through the following media:

Social media
TV/Commercial Ads
Video/Animation Ads

The sales target is to reach a minimum of 120 sales every month, we will reach out to 150,000 persons in different demography every month through the above stated media, by the next fiscal year we will increase sales target to average of 150 monthly.

This adverts will lead potential clients to Bridgespace website which will have a call-to-action, immediately potential clients visit the site, the site will be very engaging to visitors, visitors will be made to go through a simple and easy evaluation that will determine their mhealth status and immediately make them book a session and start therapy.

Another strategy is for client to get discount through referrals.

The website will have a database of all visitors to the site, they will be constant e-mail marketing to all contacts in the database.

(How do you want to create awareness for your products? This is where you analyse various channels)
• What is your plan to grow your company?

Method of payment for products:
The method of payment will be Bank Deposit, Mobile transfer, internet banking transfer & other online payment methods.

 
Funding Request
We will need $60,100 to kick start this business, t business will start as a medium scale enterprise, we expect to get this fund through grant and other alternate option will be equities. The expected turn over is $101,140 the first year and a net income of about $54,782. The Financial part of this business plan give a detail analysis of the Operating costs, profit and loss sheet, balance sheet, financial projections.

In the absence of grant we will opt for investors, they will be little need to upgrade equipment on the second year this will reduce cost, we plan to increase the labour by 200% on the second year to double sales this definitely Is sure to reward investor for the smart investment.

 
Financial Projections

One-Time Expenses Budget
Office space $2857
Equipment and supplies $2995
Legal Fees $1429
Utilities + Miscellaneous $1716
Outside audit fees $4272
Technology $2335
Employee salaries $35568
Insurance $1716
Advertising and marketing $3420
Communication $1020
Bank fee $1020
Website $1704

TOTAL $60052

Cash Flow Projection 1 Year

Month Beginning cash $ 2,406.00 $ 8,522.00 $ 13,950.50 $ 18,896.50 $ 23,842.50 $ 28,431.00 $ 33,377.00 $ 38,323.00 $ 43,011.50 $ 48,197.50 $ 52,003.50

Receivables
Sales

Payments First Quarter Second Quarter Third Quarter Fourth Quarter Total
January February March April May June July August September October November December
6150 9860 9530 8690 8690 8690 8690 8690 8790 8930 7550 6880

Cash IN total $6,150.00 $9,860.00 $ 9,530.00 $ 8,690.00 $ 8,690.00 $ 8,690.00 $ 8,690.00 $ 8,690.00 $ 8,790.00 $ 8,930.00 $ 7,550.00 $ 6,880.00 $ 101,140.00

Expenses

Rent
Salaries & Wages
Equipment & Technology

Materials

Other Overhead
January February March April May June July August September October November December
238 238 238 238 238 238 238 238 238 238 238 238 2,856.00
2964 2964 2964 2964 2964 2964 2964 2964 2964 2964 2964 2964 35,568.00
445 445 445 445 445 445 445 445 445 445 445 445 5,340.00
– – 357.5 – – 357.5 – – 357.5 – – 357.5 1,430.00
97 97 97 97 97 97 97 97 97 97 97 97 1,164.00
Cash OUT total $3,744.00 $3,744.00 $ 4,101.50 $ 3,744.00 $ 3,744.00 $ 4,101.50 $ 3,744.00 $ 3,744.00 $ 4,101.50 $ 3,744.00 $ 3,744.00 $ 4,101.50 $ 46,358.00

Month end cash $2,406.00 $8,522.00 $13,950.50 $ 18,896.50 $ 23,842.50 $ 28,431.00 $ 33,377.00 $ 38,323.00 $ 43,011.50 $ 48,197.50 $ 52,003.50 $ 54,782.00

Cash Flow $2,406.00 $6,116.00 $ 5,428.50 $ 4,946.00 $ 4,946.00 $ 4,588.50 $ 4,946.00 $ 4,946.00 $ 4,688.50 $ 5,186.00 $ 3,806.00 $ 2,778.50 $ 54,782.00

WAGES AND SALARIES
Head of Medical Operations 220 220 220 220 220 220 220 220 220 220 220 220 2,640
Head Of Fitness & Wellness 220 220 220 220 220 220 220 220 220 220 220 220 2,640
Chief Technology Officer 220 220 220 220 220 220 220 220 220 220 220 220 2,640
Head of Standard & Quality Assurance 220 220 220 220 220 220 220 220 220 220 220 220 2,640
Project Management Consultant 220 220 220 220 220 220 220 220 220 220 220 220 2,640
Psychologist 200 200 200 200 200 200 200 200 200 200 200 200 2,400
Psychotherapists 200 200 200 200 200 200 200 200 200 200 200 200 2,400
Psychiatrist 200 200 200 200 200 200 200 200 200 200 200 200 2,400
8 Ad-hoc @ $83 (83×8) 664 664 664 664 664 664 664 664 664 664 664 664 7,968
–
Secretary 100 100 100 100 100 100 100 100 100 100 100 100 1,200
Chief Executive Officer 500 500 500 500 500 500 500 500 500 500 500 500 6,000
TOTAL 2,964 2,964 2,964 2,964 2,964 2,964 2,964 2,964 2,964 2,964 2,964 2,964 35,568

Sales Forecast (12 months)
Unit Sales
Video Session Audio Session
Messaging First Quarter SecondQuarter ThirdQuarter FourthQuarter
January February March APRIL
45 May June July AUGUST
45 September October November December
35 50 50 45 45 45 40 50 35 35
40 40 45 40 40 40 40 40 45 45 40 35
35 100 85 80 80 80 80 80 85 70 70 60
Unit SalesTotal

Unit PricesVideoSession Audio Session Messaging

Sales
Video Session Audio Session
Messaging 110 190 180 165 165 165 165 165 170 165 145 130

January February March April May June July August September October November December
$74.00 $74.00 $74.00 $74.00 $74.00 $74.00 $74.00 $74.00 $74.00 $74.00 $74.00 $74.00
$54.00 $54.00 $54.00 $54.00 $54.00 $54.00 $54.00 $54.00 $54.00 $54.00 $54.00 $54.00
$40.00 $40.00 $40.00 $40.00 $40.00 $40.00 $40.00 $40.00 $40.00 $40.00 $40.00 $40.00

January February March April May June July August September October November December
$2,590.00 $3,700.00 $3,700.00 $3,330.00 $3,330.00 $3,330.00 $3,330.00 $3,330.00 $2,960.00 $3,700.00 $2,590.00 $2,590.00
$2,160.00 $2,160.00 $2,430.00 $2,160.00 $2,160.00 $2,160.00 $2,160.00 $2,160.00 $2,430.00 $2,430.00 $2,160.00 $1,890.00
$1,400.00 $4,000.00 $3,400.00 $3,200.00 $3,200.00 $3,200.00 $3,200.00 $3,200.00 $3,400.00 $2,800.00 $2,800.00 $2,400.00
TotalSales $6,150.00 $9,860.00 $9,530.00 $8,690.00 $8,690.00 $8,690.00 $8,690.00 $8,690.00 $8,790.00 $8,930.00 $7,550.00 $6,880.00

BRIDGINGSPACE
INCOME STATEMENT (12 MONTHS)

REVENUE $ $

Net Sales 101,140
Interest Income 0
Gain on Sale of Equipment 0
Total Revenue (A) 101,140

COSTS AND EXPENSES

Cost of Services 7,200
Selling Expenses 0
General and Administrative Expenses 39,158
Interest Expenses 0
Taxes
Total Costs and Expenses (B) 0 46,358

Net Income (A-B) 54,782

Break-Even Point Calculations
Without startup costs

Selling price (per session) 74.00
Minus variable costs (cost per session) -0.00
Contribution margin (profit per session not considering fixed costs)74.00

Sessions to sell each month to cover monthly fixed costs
Fixed costs (monthly) 4121.14
Divided by contribution margin ÷74.00
Break-even point (monthly) 55.69Sessions

BridgingSpace must sell at least 57 sessions each month in order to breakeven, including monthly fixed costs.

With startup costs
Startup costs. 9615.57
Number of months to repay the startup cost. ÷12
Startup costs (monthly/ 801 .30
Sessions to sell each month to cover monthly fixed costs with startup costs included
Fixed costs (monthly) 4121.14
Startup costs (monthly) + 801.30
Fixed and Startup costs (monthly) 4922.44
Divided by contribution margin ÷74.00
Break-even point including startup costs (monthly) 66.52 Sessions

BridgingSpace must sell at least 67 sessions each month in order to breakeven, including monthly fixed and Startup costs.

We are seeking for the total sum of $60,100. This will be used for equipment & technology, rent, materials, salaries and wages. We anticipate a sales turnover of $101,140.00, a gross profit of $93,940 and a net profit after tax of $54,782 by our first year of commencement of operation. This business will start as a medium scale enterprise and we expect to get this fund through grants. Other alternate options will be through equities.
In the absence of grant we will opt for investors. As they will be little need to upgrade equipment on the second year, this will reduce cost and we plan to increase labour by 200% in the second year to double sales. This will definitely reward investors for the smart investment.