A mobile phlebotomy business is involved in collecting blood samples from people or patients on the go. In order to collect blood samples, a mobile phlebotomist makes a trip outside of a clinic or hospital to the patient’s location. They collect blood samples from residents of nursing homes, rehabilitation facilities, hospice facilities, and even from patients who are in their homes.
Available statistics show that the global mobile phlebotomy services market size reached USD 497.3 million in 2020 and is expected to register a revenue CAGR of 4.4 percent during the forecast period.
Steps to Write a Mobile Phlebotomy Business Plan
Luke Watson® Mobile Phlebotomy Medical Lab, Inc. is a licensed and registered phlebotomy business that will be based in Tinton Falls, New Jersey. The business will be committed to serving those who need professionals to come to them to collect their blood samples in whatever locations they are.
We will move across different cities and locations in the state. We have been able to acquire well–equipped ambulances that are highly suitable for the kind of business we want to operate. Dr. Luke Watson is the founder and CEO of Luke Watson® Mobile Phlebotomy Medical Lab, Inc.
Our services include; mobile blood draws, DNA collection, kit draws, research laboratory collections, medical courier services, and other related medical services.
b. Nature of the Business
Our mobile phlebotomy clinic will operate the B2C – Business to consumer business model. We will offer our services directly to the end user without any middleman arrangement.
c. The Industry
Luke Watson® Mobile Phlebotomy Medical Lab, Inc. will operate under the phlebotomy or Medical Lab industry.
d. Mission Statement
Our mission is to be actively involved in blood drives; to collect blood samples from those who are unable to travel, such as residents of nursing homes, rehabilitation facilities, hospice facilities or even patient’s in their homes.
e. Vision Statement
Our vision of establishing our mobile phlebotomy medical lab is to become the pacesetter in every city where we are located.
f. Our Tagline (Slogan)
Luke Watson® Mobile Phlebotomy Medical Lab, Inc. – Mobile phlebotomy medical lab You Can Trust!
g. Legal Structure of the Business
Luke Watson® Mobile Phlebotomy Medical Lab, Inc. will be formed as a Limited Liability Company, LLC. The reason why we are forming an LLC is to protect our personal assets by limiting the liability to the resources of the business itself. The LLC will protect our CEO’s personal assets from claims against the business, including lawsuits.
i. Our Organizational Structure
- Chief Medical Director (President)
- Account Officer
- Customer Service Officer (Receptionist)
- Ambulance Drivers.
h. Ownership/Shareholder Structure and Board Members
- Luke Watson (Owner and Chairman/Chief Executive Officer) 51 Percent Shares
- Longman Job (Board Member) 19 Percent Shares
- Allen Shawn (Board Member) 10 Percent Shares
- Bon Nobert (Board Member) 10 Percent Shares
- Stellar Saul (Board Member and Sectary) 10 Percent Shares.
- Ideal Location for mobile phlebotomy medical lab
- Highly experienced and qualified employees and management
- Access to supplies
- A robust partnership with stakeholders in the health care industry
- Inability to initially run and manage the organization without falling back to savings
- Financial Limitations
- Inability to retain our highly experienced and qualified employees longer than we want.
- Growing acceptance of mobile phlebotomy medical labs and services
- Support from relevant stakeholders toward the blood bank drive
- Build upon existing clientele
- Online market, new services, new technology, and of course the opening of new markets.
i. How Big is the Industry?
The Phlebotomy and Medical Lab industry is a big and growing industry. The U.S. phlebotomy market size is expected to reach USD 13.99 billion by 2026.
ii. Is the Industry Growing or Declining?
Yes, the Phlebotomy and Medical Lab industry is growing. As a matter of fact, the industry is expected to grow by a CAGR of 6.6 percent from 2019 to 2026.
iii. What are the Future Trends in the Industry
The Phlebotomy and Medical Lab industry is changing, and players in the industry are improvising. No doubt, technology, and customized software will change the landscape of the Phlebotomy and Medical Lab industry going forward.
iv. Are There Existing Niches in the Industry?
No, there are no niche ideas when it comes to the mobile phlebotomy medical lab line of business.
v. Can You Sell a Franchise of your Business in the Future?
Luke Watson® Mobile Phlebotomy Medical Lab, Inc. has plans to sell franchises in the nearest future and we will target major cities with a growing number of aged people in the United States of America.
- The spread of coronavirus and similar pandemic
- Loans diminish profitability until they are paid off
- The first year will be financially tight while we gain customers and pay off loans
- Management of employees requires time, money, and effort
- The medical and health department could change their regulatory status and decide to enforce strict regulations that can strangulate new businesses
- The arrival of competitors within our market space.
i. Who are the Major Competitors?
- NeoGenomics Laboratories, Inc.
- Viracor-IBT Laboratories
- Angel’s on Wheels Mobile Phlebotomy LLC
- Sonora Quest Laboratories
- TravaLab LLC
- Ultimate Wellness Providers Co.
- Mobile Phlebotomy Services, Inc.
- Pinnacle Mobile Phlebotomy, LLC
- VeniExpress, Inc.
- Progressive Phlebotomy Services, LLC
- American Mobile Phlebotomy Service
- Pinnacle Mobile Phlebotomy
- Mobile Blood Draw Services
- Mass Mobile Phlebotomy Services LLC
- ProVein Mobile Phlebotomy Services, LLC
- Bella Mobile Phlebotomy Services
- Phlebotomy On Wheels, LLC
- F A R Mobile Phlebotomy Services
- Soft Touch Mobile Phlebotomy Services LLC
- Kelly Rose Mobile Phlebotomist LLC.
ii. Is There a Franchise for Mobile Phlebotomy Business?
No, there are no franchise opportunities for mobile phlebotomy medical lab business.
iii. Are There Policies, Regulations, or Zoning Laws Affecting Mobile Phlebotomy Business?
Yes, there are county and state regulations for mobile phlebotomy medical lab businesses. It is important to state that each state has its own requirements as there are different laws and costs per state. For example, mobile phlebotomy medical labs in California are regulated by the medical board of California.
a. Who is Your Target Audience?
i. Age Range
Our target market comprises adults above 18 years old who have the finance to do business with us.
ii. Level of Educational
We don’t have any restrictions on the level of education of those we will offer our mobile phlebotomy services.
iii. Income Level
We don’t have any cap on the income level of those we will do business with.
There is no restriction when it comes to the ethnicity of the people we will offer our mobile phlebotomy medical lab services.
There is no restriction when it comes to the language spoken by the people we will offer our mobile phlebotomy medical lab services.
vi. Geographical Location
Anybody from any geographical location will be welcome to hire our services.
Luke Watson® Mobile Phlebotomy Medical Lab, Inc. will not restrict any person from accessing our services based on their lifestyle, culture, or race.
b. Advertising and Promotion Strategies
- Host Themed Events That Catch the Attention of Potential Clients.
- Tap Into Text Marketing
- Use FOMO to Run Photo Promotions
- Share Your Events in Local Groups and Pages
- Turn Your Social Media Channels into a Resource
- Develop Your Business Directory Profiles
- Build Relationships with other healthcare service providers and related organizations in our area.
i. Traditional Marketing Strategies
- Marketing through Direct Mail.
- Print Media Marketing – Newspapers & Magazines.
- Broadcast Marketing -Television & Radio Channels.
- OOH, Marketing – Public Transit like Buses and Trains, Billboards, Street shows, and Cabs.
- Leverage direct sales, direct mail (postcards, brochures, letters, fliers), tradeshows, print advertising (coupon books, billboards), referral, radio, and television.
ii. Digital Marketing Strategies
- Social Media Marketing Platforms.
- Influencer Marketing.
- Email Marketing.
- Content Marketing.
- Search Engine Optimization (SEO) Marketing.
- Affiliate Marketing
- Mobile Marketing.
iii. Social Media Marketing Plan
- Start using chatbots.
- Create a personalized experience for each of our clients.
- Create an efficient content marketing strategy.
- Create a community for our freelance marketers and influencers.
- Gear up our profiles with a diverse content strategy.
- Use brand advocates.
- Create profiles on relevant social media channels.
- Run cross-channel campaigns.
c. Pricing Strategy
When working out our pricing strategy, Luke Watson® Mobile Phlebotomy Medical Lab, Inc. will make sure it covers time, service delivery, supplies, and a full mobile phlebotomy medical lab package for each of our clients. In all, our pricing strategy will reflect;
- Cost-Based Pricing
- Value-Based Pricing
- Competition-Based Pricing.
Sales and Distribution Plan
a. Sales Channels
Our channel sales strategy will involve using partners and third parties such as referral partners, affiliate partners, hospitals, freelance marketers, and social media influencers to help refer clients to us.
Luke Watson® Mobile Phlebotomy Medical Lab, Inc. will also leverage the 4 Ps of marketing which are place, price, product, and promotion. By carefully integrating all these marketing strategies into a marketing mix, so we can have a visible, in-demand service that is competitively priced and promoted to our patients and partners.
b. Inventory Strategy
Luke Watson® Mobile Phlebotomy Medical Lab, Inc. will operate an inventory strategy that is based on a day-to-day methodology for ordering, maintaining, and processing items in our warehouse. We will develop our strategy with the same thoroughness and attention to detail as we would if we were creating an overall strategy for the business.
c. Payment Options for Customers
Here are the payment options that Luke Watson® Mobile Phlebotomy Medical Lab, 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
d. Return Policy, Incentives, and Guarantees
At Luke Watson® Mobile Phlebotomy Medical Lab, Inc., the nature of the services we offer does not accommodate a return policy but we will make sure we give out incentives from time to time to our esteemed customers.
e. Customer Support Strategy
We will ask customers for comments as part of our customer care approach. This will enable us to better understand our customers’ requirements, experiences, and problem spots, enabling us to give outstanding support to all our customers.
As part of our customer support strategy, we will consistently seek to improve our customer service team and leverage multi-channel servicing.
We plan to expand our revenue by 25 percent in the second year and the plan will include a marketing, sales, and operations component. The operations component of the plan would include attracting partnerships and referrals that will enable the firm to boost our service offerings and support revenue growth.
a. What Happens During a Typical Day at a Mobile Phlebotomy Medical Lab?
- The business is open for the day’s work
- The ambulance and equipment are cleaned, adjusted, and set for the day’s job
- Phlebotomists go to patients’ locations to draw blood and also to offer other related services.
- Schedule maintenance and servicing of equipment are carried out
- Marketing/website upkeep
- The business is closed for the day.
b. Production Process
There is no production process when it comes to a mobile phlebotomy medical lab business.
c. Service Procedure
Mobile phlebotomy medical labs’ service of procedure vary widely and depend greatly on the medical director or owner’s experience and predilection.
When a request to draw blood is made, the phlebotomist in charge makes sure they observe all the ethics as stated by the regulating organization when drawing the blood of a patient and they must also make sure they store the blood following standard operating procedure.
d. The Supply Chain
Luke Watson® Mobile Phlebotomy Medical Lab, Inc. will establish a business relationship with wholesale suppliers of the blood drawing supplies and medications we need.
e. Sources of Income
Luke Watson® Mobile Phlebotomy Medical Lab, Inc. makes money by offering mobile blood draws, DNA collection, kit draws, research laboratory collections, medical courier services, and other related medical services.
a. Amount Needed to Start Our Mobile Phlebotomy Medical Lab?
Luke Watson® Mobile Phlebotomy Medical Lab, Inc. would need an estimate of $285,500 to successfully set up our mobile phlebotomy medical lab in the United States of America. Please note that this amount includes the salaries of all our staff for the first month of operation.
b. What are the Cost Involved?
- Business Registration Fees – $750.
- Legal expenses for obtaining licenses and permits – $7,300.
- Marketing, Branding, and Promotions – $5,000.
- Business Consultant Fee – $2,500.
- Insurance – $5,400.
- Rent/Lease – $70,000.
- Other start-up expenses include stationery ($500), and phone and utility deposits ($2,800).
- Operational Cost (salaries of employees, payments of bills et al) – $40,000
- Start-up inventory – $15,000
- Store Equipment (cash register, signage, security, ventilation) – $4,750
- Furnishing and Equipping – $120,000
- Ambulance: $45,000
- Website: $600
- Miscellaneous: $3,000
c. Do You Need to Build a Facility?
Luke Watson® Mobile Phlebotomy Medical Lab, Inc. will not build a new facility for our mobile phlebotomy medical lab; we intend to start with a long-term lease and after 5 years, we will start the process of acquiring our own facility.
d. What are the Ongoing Expenses for Running a Mobile Phlebotomy Medical Lab Business?
- Cost of stocking up supplies
- Utility bills (gas, internet, phone bills, signage and sewage et al)
- Maintenance and repair of equipment and ambulance
- Salaries of employees
e. What is the Average Salary of your Staff?
- Chief Medical Director (President) – $65,000 Per Annum
- Administrator – $40,000 Per Annum
- Phlebotomist – $42,878 Per Annum
- Account Officer – $35,000 Per Annum
- Customer Service Officer (Receptionist) – $26,100 Per Year
f. How Do You Get Funding to Start a Mobile Phlebotomy Medical Lab Business?
- Raising money from personal savings and sale of personal stocks and properties
- Applying for a loan from your bank/banks
- Pitching our business idea and applying for business grants and seed funding from the government, donor organizations, and angel investors
- Source for soft loans from our family members and friends.
a. How Much Should You Charge for your Product/Service?
At Luke Watson® Mobile Phlebotomy Medical Lab, Inc. our packages range from $50 to $100 or more depending on the services offered.
b. Sales Forecast?
- First Fiscal Year (FY1): $350,000
- Second Fiscal Year (FY2): $450,000
- Third Fiscal Year (FY3): $580,000
c. Estimated Profit You Will Make a Year?
- First Fiscal Year (FY1): 40% of revenue generated
- Second Fiscal Year (FY2): 45% of revenue generated
- Third Fiscal Year (FY3): $540,000 50% of revenue generated
d. Profit Margin of a Mobile Phlebotomy Medical Lab Product/Service
The ideal profit margin we hope to make at Luke Watson® Mobile Phlebotomy Medical Lab, Inc. will be between 15 and 25 percent on service charges.
a. How do you intend to grow and expand? By opening more retail outlets/offices or selling a franchise?
Luke Watson® Mobile Phlebotomy Medical Lab, Inc. will grow our mobile phlebotomy medical lab by first opening other facilities in key cities in the United States of America within the first five years of establishing the organization and then will start selling franchises from the sixth year.
b. Where do you intend to expand to and why?
Luke Watson® Mobile Phlebotomy Medical Lab, Inc. plans to expand to Sumter – Florida, and then to Liliano – Texas, Lancaster – Virginia, Alcona – Michigan, and Catron – New Mexico.
Due to the fact that the cities above have the highest concentration of senior citizens in the country, we want to extend to these regions. In fact, the county with the greatest old population in the entire United States of America, Sumter, Florida, is home to 115,350 seniors, or nearly 52.9 percent of the country’s population, according to Pew Research.
The founder of Luke Watson® Mobile Phlebotomy Medical Lab, Inc. plans to exit the business via family succession. We have put systems and procedures in place that will enable us to carry out our strategy of smoothly passing the company down through the generations and from one family member to the next.