Fargo Medical Laboratories

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Laboratory Business Plan

Company Summary

Fargo Medical Laboratories has been formed as an L.L.C., registered in North Dakota. Fargo Medical Laboratories is a single member entity owned by Dave Gigsted. Fargo Medical Laboratories will lease office space in the Main Street Professional Building. This building has over 120 offices, 93 of which are leased by medical professionals. Of the 93, a high percentage of those are primary care physicians or general practitioners. There currently is no laboratory within this professional building, and doctors are forced to send their patients across town to have blood drawn and analyzed.  

2.1 Company Ownership

The owner of Fargo Medical Laboratories is Dave Gigsted. Dave has received bank debt financing and will have a long term loan to pay off.

2.2 Start-up Summary

Fargo Medical Laboratories will require the following equipment for the start up of the business:

  • Waiting room furniture
  • Two computers with QuickBooks Pro, Microsoft Office, and insurance billing software, sharing a laser printer and a broadband Internet connection.
  • Five portable ice coolers.
  • Four chairs for the blood drawing rooms.
  • Latex gloves, syringes, needles.
  • Autoanalyzer.
  • Complete blood testing machine.
  • Centrifuge.
  • Refrigerator/freezer unit.
Start-up Funding
Start-up Expenses to Fund $5,000
Start-up Assets to Fund $165,000
Total Funding Required $170,000
Assets
Non-cash Assets from Start-up $73,000
Cash Requirements from Start-up $92,000
Additional Cash Raised $0
Cash Balance on Starting Date $92,000
Total Assets $165,000
Liabilities and Capital
Liabilities
Current Borrowing $0
Long-term Liabilities $170,000
Accounts Payable (Outstanding Bills) $0
Other Current Liabilities (interest-free) $0
Total Liabilities $170,000
Capital
Planned Investment
Investor 1 $0
Investor 2 $0
Other $0
Additional Investment Requirement $0
Total Planned Investment $0
Loss at Start-up (Start-up Expenses) ($5,000)
Total Capital ($5,000)
Total Capital and Liabilities $165,000
Total Funding $170,000
Start-up
Requirements
Start-up Expenses
Legal $1,000
Stationery etc. $0
Brochures $500
Consultants $0
Insurance $500
Rent $1,000
Research and Development $0
Expensed Equipment $2,000
Other $0
Total Start-up Expenses $5,000
Start-up Assets
Cash Required $92,000
Other Current Assets $0
Long-term Assets $73,000
Total Assets $165,000
Total Requirements $170,000

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