Are you about starting a sperm bank? If YES, here is a complete sample sperm bank business plan template & feasibility report you can use for FREE.
Going by the increasing rate of infertility all around the world, sperm bank business is becoming a thriving and profitable business.
A sperm bank which is also known as cryo-bank is a facility that collects and stores human sperm from sperm donors, and the collected sperm are used by women who need donor-provided sperm to achieve pregnancy.
A sperm bank is one of those businesses that require you to first look at the existing laws in the country or state you reside before starting the business.
In essence, if you want to start your own sperm bank, then you would need to pay a visit to the health and medical regulatory body in your country to get all the required information; then you should ensure that you carry out thorough feasibility studies and market survey.
Below is a sample sperm bank business plan template that can help you to successfully write your own with little or no difficulty.
A Sample Sperm Bank Business Plan Template
1. Industry Overview
Sperm bank business falls under the Fertility Clinics industry and this industry comprises of medical facilities that offer treatments to aid individuals in conceiving children.
Aside from sperm bank, these facilities offer diagnosis, medications, intrauterine insemination, in vitro fertilization and other assisted reproductive technology methods.
In recent time, increased interest in assisted reproductive technology (ART) has driven revenue higher as more people have sought alternative ways to have children.
Because of the sensitive nature of the business in the united states, sperm banks are regulated by Human Cell and Tissue or Cell and Tissue Bank Product (HCT/Ps) establishments by the Food and Drug Administration.
A good number of states also have regulations in addition to those imposed by the Food and Drug Administration. In Europe, a sperm bank must have a license according to the EU Tissue Directive. While in the united kingdom, sperm banks are regulated by the Human Fertilization and Embryology Authority.
A recent research conducted shows that in the last five years, the Sperm Banks industry has expanded greatly. The revenue generated in the industry is expected to grow at an average annual rate of 2.4 percent to $320.9 million. Meanwhile, the recession did result in fewer clients as consumers pulled back on their spending and avoided large expenses like having children.
The Fertility Clinics industry that sperm bank business is a part of is indeed a very massive industry in the United States. Statistics has it that the industry is worth $2 billion, with an estimated growth rate of 4.2 percent within the next five years.
There are about 493 registered and licensed fertility clinics (sperm banks inclusive) in the United States and they are responsible for employing about 17,630 people that comprises of doctors, nurses, pharmacists, surgeons and other health and non – health workers. It is important to state that IntegraMed has a lion share of the available market in the industry in the United States.
A recent report published by IBISWorld shows that the Fertility Clinics industry relies more on labor than capital and that depreciation costs are expected to account for about 2.7 percent of total industry revenue in 2016, whereas wages are estimated to account for 40.3 percent of revenue. As a result, the industry’s capital intensity is relatively low.
The report further shows that in 2015, for every dollar spent on labor, industry enterprises will invest an estimated $0.07 in capital, on average.
Equipment leasing and outsourcing testing to third-party facilities minimize the capital depreciation costs associated with the high-tech treatments that fertility clinics provide. This also minimizes expenditures on machinery that may become obsolete if a new technology enters the market.
If you are considering starting your own sperm bank in the United States, then you should try and work around the industry barriers.
The truth is that the barriers to entry in the Fertility Clinics industry are high and this is due to the significant regulatory requirements, the experience and strength of incumbents. For example, medical licensure creates a barrier to entry in the healthcare sector.
As a matter of fact, it is absolutely compulsory for any investor who is looking towards starting a sperm bank business to meet extensive federal, state and local laws and regulations. These regulations relate to the adequacy of medical care, equipment, personnel, operating policies and procedures.
Regulations also involve maintaining adequate records, preventing fires, setting rates and complying with building codes and environmental protection laws. These regulations make it difficult and costly for aspiring entrepreneurs to enter the industry.
Over and above, if you are determined and you are ready to go all the way, you will surely succeed in establishing your sperm bank in the United States of America and you will be glad you did because it is indeed a profitable line of business.
2. Executive Summary
Pro Create® Sperm Bank & Fertility Clinic, Inc. is a standard, licensed and government approved sperm bank and fertility clinic that will be located in the heart of Long Beach, California – United States of America.
We have been able to acquire a standard facility that is highly suitable for the kind of sperm bank and fertility clinic business we want to operate.
Pro Create® Sperm Bank & Fertility Clinic, Inc. is in the healthcare cum fertility clinics industry to collect sperm, make available tested and well – screened sperms and also handle fertility related concerns. We are well trained and equipped to service the market segments that require our healthcare related services.
We are in the sperm bank and fertility clinic business to deliver excellent services to all those who will patronize our services.
We will also ensure that when carrying out our duty, we will comply with the laws and health regulations in the State of California and The United States of America. Our employees are well trained and qualified to handle the wide range of sperm bank and fertility clinic services we offer.
Pro Create® Sperm Bank & Fertility Clinic, Inc. will operate a 24 hours, 7 days a week sperm bank and fertility clinic service; our facility will be open round the clock to attend to clients (patients). We have a standard medical call center that is manned by trained health workers.
Our employees are going to be well trained to operate within the framework of our organization’s corporate culture and also to meet the needs of all our customers.
Pro Create® Sperm Bank & Fertility Clinic, Inc. will ensure that all our patients cum customers are given first class treatment whenever they visit our sperm bank and fertility clinic. We have a CRM software that will enable us manage a one on one relationship with our customers no matter how large the number of our customer base grows.
Pro Create® Sperm Bank & Fertility Clinic, Inc. is a family business that is owned and managed by Dr. Benny Blanco and his wife Johannes Blanco (Nurse). Dr. Benny Blanco is going to be the Medical Director (Chief Executive Officer) of the sperm bank and fertility clinic.
He is a Board Certified / Fellowship Trained Fertility Specialist and ACMPE’s Certified Medical Practice Executive (CMPE) with well over 15 years’ experience working as a fertility researcher with the United States’ government.
He will be ably supported by his wife Johannes Blanco who has grown in her career to become a QAPI Certified Professional (QCP) and professional member of The American Association of Tissue Banks (AATB) and of course one of the most respected senior nurses in Long Beach – California.
3. Our Products and Services
Pro Create® Sperm Bank & Fertility Clinic, Inc. is in the business of ensuring that our patients/clients are well taken care of and our services will be carried out by highly trained professional in the fertility clinics industry who know what it takes to give our highly esteemed customers value for their money.
These are the services that Pro Create® Sperm Bank & Fertility Clinic, Inc. will be offering;
- Collect, screened and store human sperm from sperm donors for use by women who need donor-provided sperm to achieve pregnancy
- Offer treatments to aid individuals in conceiving children (Treatments such as diagnosis, medications, intrauterine insemination, in vitro fertilization and other assisted reproductive technology methods)
4. Our Mission and Vision Statement
- Our vision is to become the number one choice when it comes to sperm bank and fertility care service delivery in the whole of Long Beach, California and also to be amongst the top 20 sperm bank and fertility care service providers in the United States of America within the next 10 years.
- Pro Create® Sperm Bank & Fertility Clinic, Inc. is in business is to establish a first – class sperm bank and fertility clinic that will take care of both highly placed clients and lowly placed clients as long as they can afford our services.
- We want to become one of the leaders in the sperm bank and fertility clinics industry in California, and in the United States of America.
Our Business Structure
From the outset, we have decided to recruit only qualified professionals in the fertility clinics industry to man various job positions in our organization. We are quite aware of the rules and regulations governing the fertility clinics industry which is why we decided to recruit only well experienced and qualified employees as staff of the organization.
We hope to leverage on their expertise to build our sperm bank cum fertility clinic brand to be well accepted in Long Beach California and the whole of the United States. When hiring, we will look out for applicants that are not just qualified and experienced, but honest, customer centric and are ready to work to help us build a prosperous business that will benefit all our stakeholders.
As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of five years or more. These are the positions that will be available at Pro Create® Sperm Bank & Fertility Clinic, Inc.;
- Chief Medical Director/Chief Executive Officer
- Doctors (Fertility Specialists)
- Lab Technicians
- Pharmacist
- Nurses/Nurse’s Aides
- Sales and Marketing Executive
- Accountant/Cashier
- Customer Care Executive
- Cleaners
5. Job Roles and Responsibilities
Chief Medical Director/Chief Executive Officer:
- Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
- Generates, connects, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for fixing prices and signing business deals
- Responsible for providing direction for the business
- Responsible for signing checks and documents on behalf of the company
- Appraises the success of the organization
- Conveys staff induction for new team members
Doctor (Fertility Specialist)
- Responsible for offering treatments to aid individuals in conceiving children (Treatments such as diagnosis, medications, intrauterine insemination, in vitro fertilization and other assisted reproductive technology methods)
- Responsible for handling fertility relate surgery
- Handles sperm and fertility examinations
- Handles fertility treatments
- Handles fertility consultations and diagnostic services
- Responsible for preventative services
- Handles restorative fertility services
Pharmacist
- provides advice about medications in response to customer inquiries
- Responsible for processing prescriptions and dispensing medication
- Responsible for ordering, selling and controlling medicines and other stock
- Handles any other duty as assigned by the Medical Director
Lab Technician
- Responsible for collecting, screening and storing human sperm from sperm donors
- Issues out sperm that matches the request of our clients/patients
Nurses/Nurse’s Aides
- Responsible for managing our patients
- Assists the fertility specialist/surgeon in handling patients during fertility treatment surgery
Sales and Marketing Manager
- Manage external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
- Writes winning proposal documents, negotiate fees and rates in line with organizations’ policy
- Responsible for handling business research, market surveys and feasibility studies for clients
- Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
- Develops, executes and evaluates new plans for expanding sales
- Creates new markets cum businesses for the organization
- Empowers and motivates the sales team to meet and surpass agreed targets
Accountant/Cashier
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects
- Responsible for financial forecasting and risks analysis
- Performs cash management, general ledger accounting, and financial reporting for one or more properties
- Responsible for developing and managing financial systems and policies
- Responsible for administering payrolls
- Ensures compliance with taxation legislation
- Handles all financial transactions for the organization
- Serves as internal auditor for the organization
Client Service Executive
- Welcomes clients and potential clients by greeting them in person or on the telephone; answering or directing inquiries
- Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
- Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
- Manages administrative duties assigned by the chief executive officer in an effective and timely manner
- Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries
Cleaners:
- Responsible for cleaning the clinic facility at all times
- Ensures that toiletries and supplies don’t run out of stock
- Handles any other duty as assigned by the medical director or any superior officer
6. SWOT Analysis
Pro Create® Sperm Bank & Fertility Clinic, Inc. is set to become one of the leading sperm banks in Long Beach, California which is why we are willing to take our time to cross every ‘Ts’ and dot every ‘Is’ as it relates to our business.
We want our sperm bank and fertility clinic to be the number one choice of all residents and corporate organizations in Long Beach – California. We know that if we are going to achieve the goals that we have set for our business, then we must ensure that we build our business on a solid foundation. We must ensure that we follow due process in setting up the business.
Even though our Chief Medical Director has a robust experience in the fertility clinics industry, we still went ahead to hire the services of business consultants that are specialized in setting up new businesses to help our organization conduct detailed SWOT analysis and to also provide professional support in helping us structure our business to become a leader in the sperm bank industry.
This is the summary of the SWOT analysis that was conducted for Pro Create® Sperm Bank & Fertility Clinic, Inc.;
- Strength:
Our strength lies in the fact that we have a team of well qualified professionals manning various job positions in our sperm bank and fertility clinic. As a matter of fact, they are some of the best hands in the whole of Long Beach – California.
Our location, the Business model we will be operating on, opening 24 hours daily and 7 days in a week, multiple payment options, well equipped medical call center and our excellent customer service culture will definitely count as a strong strength for us.
- Weakness:
Our perceived weakness lies on the fact that we are just starting out and we may not have the required finance to sustain the kind of publicity that we intend giving the business and also the finance needed for acquiring some of the latest sperm collection, screening, storing and fertility equipment et al.
- Opportunities:
The opportunities that are available to sperm banks and fertility clinics are unlimited considering the ever growing rate of infertility across the world and we are going to position our sperm bank and fertility clinic to make the best out of the opportunities that will be available to us in Long Beach – California.
- Threat:
Just like any other business, one of the major threats that we are likely going to face is economic downturn and unfavorable government policies (healthcare reforms). Another threat that may likely confront us is the arrival of a new and bigger sperm bank in same location where our sperm bank and fertility clinic is located.
7. MARKET ANALYSIS
- Market Trends
The fertility clinics industry has benefited from favorable government policies, favorable demographic trends, technological advances and of course continuous awareness of sperm donations and fertility concerns. So also, limited patient access to fertility care due to states in the United States not covering fertility care for Medicaid patients, has caused some sperm banks and fertility clinics to lower prices and cut into profitability.
The fertility clinics industry has recently begun consolidating due to the pressures of healthcare reforms. The truth is that the demand for sperm banks and fertility care services has steadily grown over the last five years as healthcare reform legislation broadened insurance coverage and the plummeting unemployment rate increased disposable income.
As an investor in the sperm bank and fertility clinics industry, in order to maintain an advantaged position in this competitive industry, you should source for the most skilled and specialized fertility care professionals. One thing about this industry is that labor cost is on the high side.
However, sperm banks and fertility clinics have also faced nurse and fertility doctor shortages and have struggled to recruit qualified personnel. Industry profitability has generally risen over the past five years due to increases in service prices. The fertility clinics industry will continue to grow and become more profitable because of the increasing awareness of the solutions to infertility.
8. Our Target Market
Pro Create® Sperm Bank & Fertility Clinic, Inc. is in business to service to a wide range of customers in Long Beach – California. We will ensure that we target customers who do not have health insurance cover, and those who have health insurance cover.
Generally, adults who are finding it difficult achieving pregnancy will at one point or the order need to visit a fertility clinic to source for solutions to their challenge. The fact that we are going to open our doors to a wide range of customers does not in any way stop us from abiding by the rules and regulations governing the sperm banks cum fertility clinics industry in the United States.
Our staff are well – trained to effectively service our customers and give them value for their monies. Our customers can be categorized into the following;
- Single women and coupled lesbians who want to have children of their own
- Heterosexual couples where the male is infertile or are finding it challenging to impregnate their wives
- Young and healthy men who want to donate their sperm
- Health Management Organizations (HMOs)
Our Competitive Advantage
Aside from the competitions that exist amongst various sperm banks and fertility clinics, they also compete against other healthcare services providers such as hospitals, health centers and community clinics et al. that provide fertility care services.
To be highly competitive in the fertility clinics industry means that you should be able to deliver quality fertility treatments, collect and make available healthy sperms and should be able to meet the expectations of your patients at all times; they should experience improvement in their fertility when they patronize your sperm bank and fertility clinic.
Pro Create® Sperm Bank & Fertility Clinic, Inc. is coming into the market well prepared to favorably compete in the industry. Our sperm bank and fertility clinic facility is well positioned (centrally positioned) and visible, we have enough parking space with good security.
Our staff are well groomed in all aspects of sperm bank and fertility care service delivery and all our employees are trained to provide customized customer service to all our clients. Our services will be carried out by highly trained professionals who know what it takes to give our customers value for their money.
We are going to be one of the few sperm banks and fertility clinics in the whole of Long Beach – California that will run a standard medical call center for 24 hours a day and 7 days a week. We have enough trained fertility health workers that are ready to run a shift system.
Lastly, all our employees will be well taken care of, and their welfare package will be among the best within our category in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and objectives.
9. SALES AND MARKETING STRATEGY
- Sources of Income
Pro Create® Sperm Bank & Fertility Clinic, Inc. will ensure that we do all we can to maximize the business by generating income from every legal means within the scope of our industry. Below are the sources we intend exploring to generate income for Pro Create® Sperm Bank & Fertility Clinic, Inc.;
- Collect, screened and store human sperm from sperm donors for use by women who need donor-provided sperm to achieve pregnancy
- Offer treatments to aid individuals in conceiving children
10. Sales Forecast
It is important to state that our sales forecast is based on the data gathered during our feasibility studies, market survey and also some of the assumptions readily available on the field.
We have been able to critically examine the sperm collection market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projections are based on information gathered on the field and some assumptions that are peculiar to similar startups in Long Beach – California.
- First Fiscal Year: $50,000 (From Self-Pay Clients/Patients) and $100,000 (From Health Insurance Companies)
- Second Fiscal Year: $100,000 (From Self-Pay Clients/Patients) and $150,000 (From Health Insurance Companies)
- Third Year: $150,000 (From Self-Pay Clients/Patients) and $300,000 (From Health Insurance Companies)
N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown within the period stated above. Please note that the above projection might be lower and at the same time it might be higher.
- Marketing Strategy and Sales Strategy
The marketing and sales strategy of Pro Create® Sperm Bank & Fertility Clinic, Inc. will be based on generating long-term personalized relationships with customers. In order to achieve that, we will ensure that we offer top notch fertility treatment services at affordable prices compare to what is obtainable in Long Beach – California.
All our employees will be well trained and equipped to provide excellent and knowledgeable care services and customer service. We know that if we are consistent with offering high quality sperm collection and fertility treatment services and excellent customer service, we will increase the number of our customers by more than 25 percent for the first fiscal year and then more than 40 percent subsequently.
Before choosing a location for our sperm bank and fertility clinic, we conducted a thorough market survey and feasibility studies in order for us to penetrate the available market and become the preferred choice for residents in Long Beach – California. We have detailed information and data that we will utilize to structure our business to attract customers.
We hired experts who have good understanding of the sperm bank and fertility clinics industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in Long Beach – California.
In summary, Pro Create® Sperm Bank & Fertility Clinic, Inc. will adopt the following sales and marketing approach to win customers over;
- Introduce our business by sending introductory letters to residence, hospitals and health facilities in and around Long Beach – California
- Advertise our sperm bank and fertility clinic in community based newspapers, local TV and local radio stations
- List our sperm bank and fertility clinic on yellow pages ads (local directories)
- Leverage on the internet to promote our sperm bank and fertility clinic
- Engage in direct marketing
- Leverage on word of mouth marketing (referrals)
- Enter into business partnership with health management organizations, government agencies and health insurance companies
- Attend healthcare related exhibitions/expos.
11. Publicity and Advertising Strategy
We are in the sperm bank and fertility clinic line of business to become one of the market leaders and also to maximize profits hence we are going to explore all available means to promote our business.
Pro Create® Sperm Bank & Fertility Clinic, Inc. has a long – term plan of opening our sperm bank and fertility clinic in key cities around California which is why we will deliberately build our brand to be well accepted in Long Beach before venturing out.
As a matter of fact, our publicity and advertising strategy is not solely for winning customers over but to effectively communicate our brand to the general public. Here are the platforms we intend leveraging on to promote and advertise Pro Create® Sperm Bank & Fertility Clinic, Inc.;
- Place adverts on both print (community based newspapers and magazines) and electronic media platforms
- Sponsor relevant community health programs
- Leverage on the internet and social media platforms like Instagram, Facebook, twitter, YouTube, Google + et al to promote our brand
- Install our billboards in strategic locations all around Long Beach – California
- Engage in roadshows from time to time in target communities
- Distribute our fliers and handbills in target areas
- Ensure that all our workers wear our branded shirts and all our vehicles are well branded with our clinic’s logo
12. Our Pricing Strategy
Pro Create® Sperm Bank & Fertility Clinic, Inc. will work towards ensuring that all our services are offered at highly competitive prices compare to what is obtainable in the United States of America.
Sperm banks and fertility clinics usually leverage on the fact that a good number of their clients do not pay the service charge from their pockets; private insurance companies, Medicare and Medicaid are responsible for the payment.
In view of that, it is easier for sperm banks to bill their clients based in their discretion. However, in some cases sperm bank and fertility clinics also adopt the hourly billing cum per visit billing method.
- Payment Options
The payment policy adopted by Pro Create® Sperm Bank & Fertility Clinic, Inc. is all inclusive and we will ensure that we abide by the financial rules and regulation of the United States of America. Here are the payment options that Pro Create® Sperm Bank & Fertility Clinic, Inc. will make available to her clients;
- Payment via bank transfer
- Payment with cash
- Payment via credit cards
- Payment via online bank transfer
- Payment via check
- Payment via mobile money transfer
- Payment via bank draft
In view of the above, we have chosen banking platforms that will enable our clients make payments for our services and products without any stress on their part. Our bank account numbers will be made available on our website and promotional materials.
13. Startup Expenditure (Budget)
If you are looking towards starting a standard sperm bank and fertility clinic, then you should be ready to raise enough capital to cover some of the basic expenditures that you are going to incur. The truth is that starting this type of business does not come cheap.
You would need money to secure a standard sperm bank and fertility clinic facility, you will need money to acquire medical equipment and supply and you would need money to pay your workforce and pay bills for a while until the revenue you generate from the business becomes enough to pay them.
The items listed below are the basics that we would need when starting our sperm bank and fertility clinic in the United States, although costs might vary slightly;
- The total fee for registering the Business in the United States – $750
- Legal expenses for obtaining licenses and permits – $1,500
- Marketing promotion expenses for the grand opening of Pro Create® Sperm Bank & Fertility Clinic, Inc. – $3,580
- Cost for hiring Business Consultant – $2,500
- Cost for Computer Software (Accounting Software, Payroll Software, CRM Software, Microsoft Office, QuickBooks Pro, drug interaction software, Physician Desk Reference software) – $7,000
- Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $3,400
- Cost for payment of rent for 12 months at $1.76 per square feet in the total amount of – $105,600
- Cost for clinic remodeling – $20,000
- Other start-up expenses including stationery ($500) and phone and utility deposits – ($2,500)
- Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $300,000
- The cost for start-up inventory – $250,000
- Storage hardware (bins, rack, shelves,) – $3,720
- The cost for the purchase of furniture and gadgets (Computers, Printers, Telephone, TVs, tables and chairs et al): $4,000
- The cost of launching a website: $700
- Miscellaneous: $10,000
We would need an estimate of $700,000 to successfully set up our sperm bank and fertility clinic in Long Beach – California.
Generating Startup Capital for Pro Create® Sperm Bank & Fertility Clinic, Inc.
Pro Create® Sperm Bank & Fertility Clinic, Inc. is a private business that is owned and managed by Dr. Benny Blanco and his immediate family members. They are the financier of the business, but may likely welcome partners later which is why they decided to restrict the sourcing of the startup capital for the business to just three major sources.
- Generate part of the startup capital from personal savings
- Source for soft loans from family members and friends
- Apply for loan from my Bank
N.B: We have been able to generate about $250,000 (Personal savings $200,000 and soft loan from family members $50,000) and we are at the final stages of obtaining a loan facility of $500,000 from our bank. All the papers and documents have been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.
14. Sustainability and Expansion Strategy
The future of a business lies in the number of loyal customers that they have, the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business, then it won’t be too long before the business closes shop.
One of our major goals of starting Pro Create® Sperm Bank & Fertility Clinic, Inc. is to build a business that will survive off its own cash flow without the of injecting finance from external sources once the business is officially running.
We know that one of the ways of gaining approval and winning customers over is to offer our sperms and fertility treatment services a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.
Pro Create® Sperm Bank & Fertility Clinic, Inc. will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our organizations’ corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner.
We know that if all these is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.
Check List/Milestone
- Business Name Availability Check: Completed
- Business Registration: Completed
- Opening of Corporate Bank Accounts: Completed
- Securing Point of Sales (POS) Machines: Completed
- Opening Mobile Money Accounts: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Purchase of Insurance for the Business: Completed
- Leasing of facility and remodeling the facility to suit the design of our sperm bank and fertility clinic: In Progress
- Conducting Feasibility Studies: Completed
- Generating capital from family members: Completed
- Applications for Loan from the bank: In Progress
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents and other relevant Legal Documents: In Progress
- Design of The Company’s Logo: Completed
- Graphic Designing and Printing of Promotional Materials: In Progress
- Recruitment of employees: In Progress
- Purchase of fertility and medical equipment and instruments et al: In Progress
- Purchase of the needed furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress
- Creating Official Website for the Company: In Progress
- Creating Awareness for the business both online and around the community: In Progress
- Health and Safety and Fire Safety Arrangement (License): Secured
- Opening party/launching party planning: In Progress
- Establishing business relationship with key stakeholders in the industry: In Progress