Business Plans for Shared Resource Labs

1. Business Plans for Shared Resource Labs The “Why” and “How” Joanne Lannigan, M.S. Director, Flow Cytometry Core

2. So What is a Business Plan? Strategic vs. Business Plan Strategic Plan: What you want to achieve and why

3. So What is a Business Plan? Strategic vs. Business Plan Business Plan: Detailed description of how objectives will be achieved

4. Business Plan Strategic Plan • Sacramento International Airport • 6900 Airport Blvd, Sacramento, CA 95837 • Get on I-5 N from Aviation Dr • 1.6 mi / 3 min • Continue on I-5 N. Take CA-113 S to Old Davis Rd in Solano County. Take the Interstate 80 E exit from CA-113 S • 20.0 mi / 19 min • Drive to Old Davis Rd in Yolo County • 0.8 mi / 2 min • Turn left onto Old Davis Rd • 0.4 mi • Keep right to stay on Old Davis Rd • 0.1 mi • At the traffic circle, continue straight to stay on Old Davis Rd • 0.3 mi • Make a U-turn • Destination will be on the right • 141 ft • UC Davis Conference Center • Distance 22.4 miles Time 24 mins

5. Do I Really Need a Business Plan?? Yes!!! And here’s why: Plans that happen haphazardly or reactively are never the best laid plans

6. Do I Really Need a Business Plan?? Yes!!! And here’s why: Evaluating resources, customers and competitors provides the framework from which the plan will be derived

7. Do I Really Need a Business Plan?? Yes!!! And here’s why: The exercise itself will give you a better handle on the big picture

8. Do I Really Need a Business Plan?? Yes!!! And here’s why: Objectives and goals will be better defined

9. Basic Format of a Business Plan • Executive Summary- Highlight Key aspects of the plan- Best written in the end- Serves as a concise description of what is to follow- ½ page • Rationale- Why is the core needed?-What makes this core unique?-Provide a historical justification of the core’s value

10. Basic Format of a Business Plan • Description of the core-Mission of the core-Organizational Structure-Core services offered-Location -Equipment-Access and Operational Plans • Demand for Services-Who will use the facility/service?-What is the anticipated usage?-What is the basis of the anticipated usage?

11. Basic Format of a Business Plan • Analysis of competition-Who are the local/external competitors?-What advantage does the core have over its competitors?-What do competitors have that may pose a threat to the success of the core?-Include market rate analysis • User Fees & Pricing-Associated costs and pricing for each service-What are other sources of revenue (subsidies)?-Include price matrix-How do prices compare with market/competitors?

12. Basic Format of a Business Plan • Implementation Plan-Provide timeline, milestones and describe what has already been accomplished-Marketing Plan-Usage tracking, billing and collection processes-Review process for success and evaluation of customer satisfaction • Budget-Budget justification narrative-Identify sources of funding/subsidies required-How do you plan to deal with profit/deficits?

13. Basic Format of a Business Plan • Future Plans-New Services/Markets-New equipment purchases-Anticipated space/facility changes-Future threats • Appendices-Detailed 3 year budget; expenses and revenue-Detailed rate calculations-Market rate comparison chart-Table of organization-Historical usage data

14. Important Characteristics of a Business Plan Achievable Concise Easy to Read Accurate Action Oriented Compelling Believable

15. In Summary • The purpose of your Business Plan is to support the successful implementation of the programs identified in the Strategic Plan of your organization • The Business Plan provides a detailed description of how objectives will be achieved, along with the necessary justification • A good Business Plan makes a compelling case to those who must approve it and provide the required funding or other necessary resources

16. For more info contact the MADSSCi/SEASR Planning CommitteeJanette.Lamb@madssci.abrf.org

17. Thank you for your attention!Questions???