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Business plan for a corporate wellness company : well-being at work

Well-being at work for employees is a reality that has become a priority, even an obligation for most companies globally. Here are the key elements for a wellness company.

 Business plan for a corporate wellness company : well-being at work

Credit Photo : being well at work - gallup.com

Well-being at work for employees is a reality that has become a priority, even an obligation for most companies globally. It’s a concept that has grown in importance over the past decade. Indeed, the challenges em-ployees face in the workplace have increased in the recent past. Sev-eral reasons, such as a high-performance expectation on the part of their superiors, for example, may be the cause. At the same time, workers have also become demanding in terms of the quality of life at work. They are looking for a balance of life and fulfilment within their positions. Thus, there is a gap in the market to fulfil these needs.

The concept: solving corporate wellness needs

     Each company is different; they each have their own demands and expectations. For them finding providers who can meet their needs is often an obstacle. Indeed, there are a multitude of products and ser-vices as well as a myriad of service providers. It is therefore easy for them to make mistakes and lose money in the process. The company aims to prevent them from doing this.
It will specialize diagnosing the existing assets but with the added bonus of a range of responses relating to the potential future needs.

The team at the heart of the project

The management and operations team will consist of:
•    A creative manager, source of the project, and with knowledge re-lating to the needs of companies in terms of well-being. Who will al-so have the relationships and contacts necessary to establish a basic customer portfolio.
•    A sales manager, mastering sales and negotiation techniques with partners. He also takes care of the marketing of the company.
•    A project monitoring manager capable of monitoring the quality of services, and thus making relevant reports.
•    Salespeople, who can sell the product of diagnosing business needs, but also able to convince customers to use the services of partners.

The potential: one company = one point of contact

    In the current context of heightened human resources competi-tion, companies have made it a priority to increase the productivity of their employees. Improving their well-being at work is the best way to achieve this. They, therefore, do not hesitate to invest the necessary sums in this process. However, there are a significant number of ser-vice providers. Being able to help companies discover areas for possi-ble improvement and provide them with the relevant professionals is a unique approach. It is an innovation because of the simplification it brings a company = to a single interlocutor. There is not much competi-tion in this field at the moment. But they will almost certainly appear in the medium term. It is up to the company to capitalise on its lead so as not to lose the client.

Sources of income

For the project to be viable and for everyone to benefit from it, it is mandatory to earn money.
The sources of income are divided into two very distinct parts:
● The sale of the service that is the diagnosis of the existing assets within the client companies.
● Commissions on sales of specialised partner services.
To win a sufficient number of customers, you need to have a clear business strategy. Initially, it will be a question of selling the diagnosis at an attractive price in order to be able to capture the customer. The second step will consist of proposing service partners who can meet their well-being needs.

The Project: Choices and Strategies

Legal form

    The legal form of the company is the foundation that will influence the future choices and strategies of the company. The Sole Proprietor-ship with Limited Liability is the chosen form because it has many ad-vantages. First, it does not require high start-up capital. Second, the tax regime to which it is subject is very simple. Finally, because the creator liable for the debt, it forces him to be 1000% focused on the business.

Marketing strategy

•    Segmentation
The corporate wellness market is huge. Theoretically, it consists of all existing companies ranging from micro-enterprise to multinational. There are, therefore, several categories of potential customers. They may concern the size in terms of number of employees. The size in terms of turnover. The sector of activity, the place of activity, etc. In view of this, the company will focus on customers in its geographical area of activity (region and border), but also on sectors of activity with a high rate of stress (new technologies, education, etc.).
•    Positioning
Innovation is a risky but winning choice. The company will position itself as an innovator while having an expert tone. The company provides the expertise that will help the clients’ employees to perform and be happy.
•    Selling price
As a precursor, there is, therefore, no reference to define the selling price of our services. Initially, the objective is to create an image, a rep-utation, and a portfolio of clients. The price of the services will, there-fore, be attractive. The second step is to use this knowledge to be able to align the prices in relation to the expertise resulting from the experi-ence.

Commercial strategy

•    Mode of sale
Every new customer has different needs. To invoice the diagnos-tic service. Factors such as the size of the company, geographical proximity, and its sector of activity will be the basis of calculation. Other criteria may be taken into account in the event of specific needs on the part of the client. It is about individualising the customer.
•    Selling power
To cover the pool of potential customers in the area of activity of the company, it is mandatory to have a large enough team of sales-people. Being a sole proprietorship, the financial means available at the start are not always substantial. The solution is therefore to use multi-card sales reps. They must have a substantial contact portfolio cover-ing several sectors of activity. Their databases should also make it pos-sible to approach companies of different sizes.
•    Competitive benchmark
To be able to offer new services, a competitive benchmark is neces-sary. Discovering new trends and being able to offer them in its range of offers is mandatory. Similarly, it is easier to propose partnerships for newly launched products than existing products or services.

Image strategy

•    Company premises
Corporate well-being is the company's goal. It must, therefore, set an example for its customers or prospects. This involves premises where an in vivo demonstration of the various existing services can be seen and experienced.
•    Digital
In this era where new digital platforms such as social networks, for example, have an increasingly prominent place, it is mandatory to have good communication. A well-used buzz can improve visibility, rep-utation, and image.

Financial Statements: Forecast

To create and start a new business, it is necessary to have sufficient funds. Indeed, it is easy to start, but it is difficult to sustain it. Having made financial forecasts to deal with unforeseen events is, therefore, a prerequisite.

Trade projections

It is necessary to establish a strategic plan i.e. to have:
•    Adequacy of the selling price
Is the unit sale price of the service sufficient to make a profit? This is the basic question. If this is not the case, it will be necessary to re-view its copy and redefine its strategy.
•    A margin rate
Once it is ensured that the selling price allows for a profit, the margin rate must be calculated. This information allows you to see the potential of the product sold.

Activity forecasts

It is not easy to come up with activity forecasts over several years, since the environment can change suddenly. This is all the more diffi-cult in the case of a new activity because no reference point exists.

Launch and action plan

To get started, here are the requirements.

Recruitment action plan

    To launch the business, the creative leader must have his team. During the first month after creation, he needs at least his sales man-ager so that he can establish partnerships. He also needs his sales team to start selling. The rest of the team will be hired over the follow-ing two months.

Marketing plan

    The marketing plan is established over the first year. In the first quarter, the sales manager and the creative director will establish the digital communication media. Social networks, a website, etc. will be included. Then, spread over the next three quarters, the paper media used during prospecting will be established.

Business Plan

    The business plan takes place in three stages: once the sales manager is hired, he must establish as many partnerships as possible with well-being or similar companies as soon as possible. At the same time, with the manager, they must also create the sales team as soon as possible. Finally, he will have to create the communication media that will make the company and its products known.

Summary

To have only one company seeking to improve the quality of life at work for its employees is a new concept. Creating a company that will op-erate in this field is a leap into the unknown. However, the important thing is to start, and always remain attentive and vigilant.


Sources:
https://www.petite-entreprise.net/P-159-88-G1-faire-un-business-plan-exemple-de-business-plan.html#:~:text=Dans%20le%20business%20plan %20owe,of%20tr%C3%A9sorerie%20over%203%20years.
https://www.manager-go.com/creation-entreprise/business-plan.htm
https://www.appvizer.fr/magazine/ressources-humanes/bien-etre-employes/idees-bien-etre-travail
https://www.appvizer.fr/magazine/ressources-humanes/bien-etre-employes/idees-bien-etre-travail
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