Executive Summary
Target Market
Company xxx will target busy
professionals, event attendees, tourists, and health-conscious consumers
seeking convenient wellness services. We will also cater to travelers,
athletes, and individuals needing medical support, such as post-surgery
recovery or hydration assistance. Additionally, we will provide solutions for
partygoers seeking hangover relief and elderly individuals in need of hydration
and nutrient supplementation.
The Business
Health and wellness awareness
continues to surge with a direct focus on importance of hydration and
nutrition, as well as maintaining essential vitamins, minerals, and
antioxidants in order to promote whole-body health. Individuals from various
backgrounds, cultures, professions, and demographics seek convenient and
effective solutions to combat dehydration, revitalize energy levels, boost
immunity, and enhance the performance of vital organs.
The Opportunity
The main highlight of opportunity include:
1.
Growing Market
i)
The global intravenous (IV) hydration therapy
market size was valued at USD 2.32 billion in 2022 and is expected to grow at a
compound annual growth rate (CAGR) of 7.97% from 2023 to 2030
ii)
In 2016, the intravenous sets market for home
infusion therapy in the United States was valued at around 806 million U.S.
dollars. It is forecasted that by 2024 this market will increase to some 1.53
billion dollars
2.
Supportive Miami geographic, demographic and psychographic
environment
i)
The IV injection therapy market is driven by
health and wellness, sport participation and tourism industry which are all
supported by Miami geographic, demographic and psychographic landscape.
ii)
The size of the wellness market worldwide stood
at 5.61 trillion U.S. dollars in 2022. This figure was projected to grow at a
compound annual growth rate of 8.6 percent, reaching an estimated 8.47 trillion
U.S. dollars by 2027.[1]
iii)
approximately 232.6 million Americans were
engaged in physical activity in 2021 or equal to 70% of total US population.
iv)
Record tourist visitation in 2022 of 19.2
million overnight visitors. Adding in the 7.3-million-day trippers netted 26.5
million total visitors to Greater Miami & Miami Beach.
3.
Solid Business Approach
i)
The business model that Company xxx offers lies in its
ability to provide convenient and efficient healthcare solutions for
individuals in the comfort of their own homes.
ii)
Company xxx offers wide array of IV injection
packages with add-ons to increase profitability
iii)
The management has solid track record in the
healthcare industry with proven professional experiences in the IV injection
procedures that would enhance customers confidence and satisfaction.
4.
Solid Financial Return
i)
Forecasted five-year revenue of USD 866,800.
ii)
EBITDA is projected to be USD 152,837 in five
years (17.6% EBITDA margin)
iii)
Relatively low risk investment to cater
significant growth in IV injection services industry.
Key Rationale to
Initiate the Business
Miami seems to have a trend of
mobile IV providers offering services like Myers' Cocktail and hangover
infusion therapy, which touch more on the wellness side of things. Key
rationale to establish such services in Miami – Dade and South Florida area:
·
One of our services is to provide hangover
relief and quick rejuvenation that could target tourists seeking these services
after a night out. Miami is a favorite tourist destination. Additionally,
Florida is the main entrance to the Bahamas which is a very popular tourist
destination. Thus, providing services in the area will be an advantage to
capture the tourist target market.
·
Myers' Cocktail and other vitamin booster, while
having some medical applications, is also seen by some as a wellness booster. Our
company can also be catering to a clientele interested in preventative health
or a general feeling of well-being. Thus, providing wellness services to some
specific client / niche market who think infusion will enhance their wellness
will be a great potential.
· Miami has a strong culture of sports participation for both watching and playing. The warm weather year-round is a major factor in this. This enjoyment of sports is further fueled by the abundance of facilities available throughout Miami. From public parks and beaches to private gyms and sports complexes. Miami's strong sports culture is also bolstered by the presence of professional and college teams. The Miami Dolphins (football), Miami Heat (basketball), University of Miami Hurricanes (various sports), and Florida International University Panthers (various sports) all provide inspiration for residents to get involved in athletics. We have the opportunity to serve the athletes and sport enthusiasts in the area who need health advancement due to their physical activities.
The Health & Wellness Industry as Major Driver
The wellness industry is a
powerful driver for mobile IV infusion services. This industry thrives on a
focus on preventative care, and mobile IVs directly address that by providing a
convenient way to deliver essential nutrients and hydration directly into the
bloodstream. This can potentially boost immunity and overall health, aligning
perfectly with the proactive approach to wellness that's so popular today.
Wellness is about making healthy
lifestyle choices and maintaining one’s wellbeing both physically and mentally.
In recent years, more people around the world have begun to recognize the
importance of wellness – a trend which has seen the value of the industry
increase year-on-year. The size of the wellness market worldwide stood at 5.61
trillion U.S. dollars in 2022. This figure was projected to grow at a compound
annual growth rate of 8.6 percent, reaching an estimated 8.47 trillion U.S.
dollars by 2027.[1]
Figure 3. Size of the
Wellness Market Worldwide
Figure 4. Use and
Purchase Frequency of Beauty Products from Selected Wellness Categories in USA
Miami is known for its
health-conscious population that values wellness and self-care. The growing
trend towards holistic health practices and preventive medicine creates a
strong demand for IV therapy services as a convenient and effective way to
support overall well-being.
Sport Participation as Major Driver
The statistic depicts the number of participants in physical
activity in the United States from 2013 to 2021. According to Statista,
approximately 232.6 million Americans were engaged in physical activity in 2021
or equal to 70% of total US population.
Figure 5. Number of
Participants in Physical Activities in the USA
Miami's warm climate encourages
outdoor activities such as beach outings, water sports, and fitness activities.
Hydration is essential in the hot and humid weather, and IV therapy provides a
quick and efficient way to rehydrate and replenish electrolytes, making it a
popular choice among outdoor enthusiasts and fitness enthusiasts.
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