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Magneticure: Business Plan Proposal
Hancock, Chase, D.
Nation, Christopher T.
Russell, Dale L.
Sadanaga, Kyle H.
Schwade, Steven J.
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The purpose of the Magneticure Company is to provide medical devices which increase the comfort of patients during cancer treatment processes. Upon founding, the company will be centered on its inaugural product, the MagneLift. The MagneLift was designed as a hand-operated tool for the removal of permanent magnets from the skin during medical procedures. Its primary objective is to significantly reduce the pain experienced by patients as compared to the forceful removal of the magnet by hand. Based on marketing surveys, it was determined that an estimated 1375 units could be sold in the first year at a cost of $90 per unit. Magneticure will require an initial investment of $300,000 to cover operating equipment and start-up costs. The projected timeframe for profitability is 22 months with the company breaking even after 43 months.