ASK ME MD

Tel: 79/140934 – 71/414151

Address: Antelias, Lebanon
Email:[email protected]

Website: www.askmemd.com.lb

Presented by: - Joelle Yammine

-Georges Rizk
-Rawad maamari
-Elio Sassine

Presented to: DR. Marguerita Chouefaty

Date: 6/5/2019
Contents
Executive summary:……………………………………………………………………………………………………………………3

I. Company Description:............................................................................................................6
I.1. Company brief:.....................................................................................................................6
I.2. Vision:...................................................................................................................................6
I.3. Mission:................................................................................................................................6
I.4. Product and services:............................................................................................................6
I.5. Legal structure:.....................................................................................................................7
II. Industry analysis:....................................................................................................................7
II.1. Facts and Figures:................................................................................................................7
II.2. PESTEL:.................................................................................................................................8
II.3. SWOT:…………….…….…………………………………………………………………………………………………………9

II.4. Proter's forces:……………………………………………………………………………………………………………….11

III. Market Analysis:......................................................................................................................11

III.1. Marketing research…………………………………………………………………………………………………….…11
III.2. Target Market and Segmentation:....................................................................................14
III.3. Competitors analysis:........................................................................................................15
III.4. Sales estimation:...............................................................................................................18
IV. Marketing Plan:.................................................................................................................19
IV.1. Product:............................................................................................................................19
IV.2. Pricing:..............................................................................................................................22
IV.3. Promotion:........................................................................................................................23
IV.4.Place:………………………………………………………………………………………………………………………………26

V. Management Plan:...................................................................................................................26
V.1. Key Positions:……………………………………………………………………………………………………………………26

V.2.Organizational Chart:…………………………………………………………………………………………………………29.

V.3.Ownership and compensation:…………………………………………………………………………………………30

VI.Financial Plan:...........................................................................................................................32
VI.I. Sources & uses of funds:....................................................................................................32
VI.2. Income statement:...........................................................................................................33
VI.3. Balance Sheet:..................................................................................................................35
VII. References…………………………………………………………………………………………………………………………..36
Executive summary:

ASK ME MD

ASK ME MD is an application that includes certified doctors from different fields.

The idea is to be able to ask for professional help without leaving the comfort of
your home. Questions are to be asked whether in a simple direct message or
through a video call, whatever meets the needs of our customers.

Some people might fear the prices of regular doctor check-ups, they may not be
able to pay for them. While some other people might just have a simple question to
ask, by answering them over the phone the doctor does not get paid losing his/her
right to do so, and if the customer schedules an appointment, more crucial cases
would be set aside for that one simple question.

That is the reason why we want to create our app ASK ME MD. By creating it we
help solve the problems stated earlier. A simple question would be answered
professionally and the doctor’s right to get paid (fair amount) would be assured.
Making sure everybody gets the help they need.

Our ideal customer would be any human being with any medical question or health
related question that owns a smart phone. That individual should have access to the
internet as well. We also have a B2B target market that includes universities and
schools.

The only direct competition we might be having is low-priced doctors. They

sometimes might not be as educated as one would like their doctor to be; on the
contrary our app only approves high-end doctors. Plus those low-priced doctors
still ask of you to be physically present at their clinic, our app does not.

Our team is composed of:

- Joelle Yammine: Marketing

- Elio Sassine: Management

- Georges Rizk: Audit

- Rawad Maamary: Management

Planned sales Expenses Profitability

Paying for the app’s design The customers pay for
monthly or through the
yearly plan

Paying for the doctors we

hire (percentage)

Sponsors

To start we need: - App design and functioning expenses.

- Sponsoring.
- HR Needs mentioned below.

I. Company Description:

I.1. Company brief:

We are an application that acts as a platform for people to communicate with

different types of doctors online. This application would be a hub that links people
to several doctors for them to ask questions. The application is very easy to access
according to the patient needs and the doctor response is fast and efficient.
The application has qualified and professional doctors ready at any time to answer
any question whether simple or not to help our customers in the best way possible.

We are helping customers and patients who can’t find time to go to a doctor for a
simple question, or who fear prices for a simple checkup which is at least 50,000
L.L.

I.2. Vision:

We aspire to become the number one preference for many fields of medical
problems through a wide range of different qualified and professional doctors.

I.3. Mission:

The mission of the company is to create an effective and easy to use platform by
providing the opportunity for customers to talk to online qualified doctors and ask
them any medical question. We are targeting customers in Lebanon in offering
them a cost effective service with the least time possible. This way we will be
serving the community.

I.4. Services:

The ASK ME MD application is found on app store for IOS users and play store
for ANDROID users. In order to download it:
-Search for Ask Me MD and download it
-Enter a name or a user account
- Choose the medical field you need according to the listed categories.
- Choose the doctor you need to chat and ask questions with.
This application provides many services such as:
 Online Chatting: Online anonymous chatting with licensed doctors from
different fields through voice notes, texting…
 Monthly awareness campaigns: specialized doctors will upload videos about
a special disease to raise awareness.
 Anonymous previous experiences: To try and share other people experiences
through anonymous posts to raise awareness.

I.5. Legal structure:

It is registered as an SAL and it has signed contracts with the doctors to ensure that
all rights of the customer are reserved. For example if the customer wants to stay
anonymous the doctors must respect that.

It is a partnership that is created and sustained by the joint efforts of four

individuals. Elio is the CEO with 40% of shares, Joelle, Rawad and Georges are
limited partners with 20% of shares each.

Some of its advantages:

-The right to participate in management and to vote.

-Shares are negotiable and easily transferred

- The liability of each shareholder is strictly limited to the value of the shares held

II. Industry analysis:

II.1. Facts and Figures:
The Mayo Clinic listed in its study for why people go see their doctor and some of
those reasons are headaches and migraines, back problems, high blood pressures,
cholesterol problems… all problems that can be asked to the doctors online
without face to face consultation. On top of gas money and traffic, travel can be
difficult for those who do not own a car or have easy access to public
transportation.

According to the Ministry of Public Health in Lebanon, the national spend on

healthcare as share of GDP is 7.5 percent. On the basis of the 2017 GDP estimate
of $53.4 billion, the health bill would be about $4 billion and be paid for by three
main streams of financing in roughly equal measure.

All of these factors ultimately lead to longer wait times and congested waiting
rooms. This only adds further physical and mental stress, which can contribute to
your bad health. Thus, creating a doctor consultation app can reduce stress.

According to Al Akhbar many people fear going to the doctor if they notice
something unusual happening to them and might ignore it until it fades away or the
pain goes away. In addition to that many people are embarrassed to ask questions
for something unusual face to face with the doctor thus, this anonymous platform
is the solution.

Our Application within the industry:

This industry is growing in Lebanon and the trend of application in Lebanon is

rising day by day thus making ASK ME MD able to be launched in Lebanon.
Plus, Lebanon ranked 23rd in the world for health care efficiency and made it to
the top 25 alongside countries like Sweden and Switzerland thus people will be
ready to upload this application and trusting the doctors online.

II.2. PESTEL:

The PESTEL analysis is done for any business or start-up company, as it identifies
all internal and external factors that might affect the business whether positively or
negatively (SWOT analysis). The factors are grouped into six categories: political,
economic, social, technical, legal, and environmental, separated afterwards
according to their positive or negative influence on the business.

 Political/Legal:

Lebanon doesn’t have a stable political system due to tax rates,

unemployment and inflation. Political issues matter and affect the business

Sector because the political unrest threatens to raise prices. We could solve
this threat and turn into an opportunity by offering prices on our application
that are lower than a real checkup at the doctor’s office.

 Economic:

Lebanon is the leading regional center for finance and tourism but its
economy has fallen on hard times. The investment climate is undetermined
by political instability. In addition to the inflation rate that is expected to be
1,90% by the end of quarter according to trading economic global macro
models and analysts’ expectations. In the long term, the Lebanon inflation
rate is projected to trend around 2,50% in 2020. All these factors that are
affecting the general economy in Lebanon can also be affecting our business
in particular.

 Social:

Applications nowadays are a trend. Even malls in Lebanon created

applications to make everything easier for their customers. Thus, our
application will be making medical answers a lot easier for consumers
sitting at home in comfort. This is an opportunity for us since it helps us to
fulfill the customer needs in the best way possible.

 Technological:

Technology let people to be more advanced and active on social media

leading to a cost efficient business model. Innovation and Technology are
 enhanced and fast growing. This is an opportunity for us to attract more
customers with our application.

II.3. SWOT Analysis:

Strengths:

_Fast and easy to use app

_100% secrecy between customers and doctors

_Easy to reach high end doctors

Weaknesses:

_New to the market

_Some cases might not be diagnosed virtually

_No previous experience

Opportunities:

_We can benefit from being the first in the market

_We can make contracts with high end doctors from other nationalities

_Technological and social trends

Threats:

_ Some might not trust the app

_Some might not trust the doctor’s merit

_Doctors syndicate might object to the low prices offered by the app
Conclusion: Company strengths, competitive advantage

- Low Prices
- Awareness
- Application online
- User friendly and easy to use
- Experienced doctors
- Diverse fields in one app
- Application and a website

II.4. Porter’s Forces:

A. Threat of new entrants: Any new application that offers a similar service
as ASK ME MD.
B. Bargaining power of suppliers: Specialized and professional doctors.
C. Threat of substitutes: Face-to-face consultation, a new similar
application, or even the internet for information.
D. Bargaining power of customers: the application users such as students,
parents…
 III. Market Analysis:

III.1. Market Research:

We need to conduct two types of market research.
Primary research:
We conducted a survey through survey monkey with the following questions:
By conducting the survey to 50 people from different ages we concluded the
following:
 - 94.74% believes that a doctor’s consultation in Lebanon is expensive while
the rest thought that it depends on what doctor, they believe that some
doctors are overrated and some are reasonable.
- 52.63% said that if they saw something strange in their bodies they would
consult their parents, while 21.05% will book an appointment with a doctor,
21.05% prefer to ask an online doctor anonymously and 5.26% said that they
will google the symptoms first. Thus, the average of people who answered
that they would consult a doctor and people who answered that they consult
a doctor online anonymously are the same and since they said that doctor’s
consultation is expensive thus the application is the perfect way to replace
face to face simple expensive consultation.
- 10.53% have low financial status while 89.47% have an average financial
status making them a good target for our application that is at a low price.

Secondary Research:
The secondary research is research that are already complied and organized
previously. These researches are facts and figures.
The capital of Lebanon, Beirut is where the majority of Lebanon’s medical
infrastructure is found. Most of the 11,500 doctors working at 177 hospitals and
clinics across the country are Board Certified and trained internationally.  People
from all over the world come to Lebanon for General Surgery, Vascular Surgery,
E.N.T Surgery, Orthopedic Surgery, Maxillo-Facial Surgery, Bariatric Surgery,
Plastic Surgery, Reconstructive Surgery, Urology, Dentistry, Fertility, Obstetrics &
Gynecology… thus our application will be filled with certified experienced doctors
that people all over the world come to see.

III.2. Target Market and Segmentation:

1-Customers:

“Ask Me MD” targets Lebanese youth between 18 and above, understands English,
active in applications and own a smart phone. The application also attracts
customers living in the coastal cities such as: the area between Jouneih, Batroun,
Maten and Beirut. Males and females / single or married / social media active,
Mid-level income and people with limited free time.

Our target customers are divided upon three groups:

The youth

The mid age customers

The elderly

The youth are for example college students and young people who might notice
changes in their bodies and who might be afraid or embarrassed to ask their parents
or go to a doctor face to face to ask them about it. The young people will feel much
more comfortable asking about these changes through an application anonymously.

The mid age on the other hand escpecially those who have children might need to
call or visit the doctor more than once a day to get answers for their questions.thus,
this application will let them contact any doctor for any concern they have at any
time.

At last the eldery will face many problems and might face difficulties going to the
doctor’s office every time they feel a little pain thus this will help them ask the
question they need to get relief.

2- B2B:

We target as well universities and schools because they have a large number of our
youth target market and they can rent the service based on step pricing and offer it
for their students for free. Letting them have more awareness on many topics such
as sex education that is not offered at schools.

- Segmentation:
 Geographic: Dividing a population by location. It depends on the
customer’s location for him to book a doctor’s appointment if needed close
to him.
Demographic: Dividing a population based on a variable such as age,
gender, income, or education… Every customer demands a different type of
doctors depending on their age, gender…
For example a woman might need to ask gynecologists for soma advice or
kids might ask pediatricians for answers…

III.3. Competitors analysis:

We have direct and direct competitors. Our direct competitors are

applications that are similar to our application such as TrakMd,
DoctorsonDemand. While, our indirect competitors are low priced doctors
that customers might visit rather than downloading our application.

There are many factors that differ us from our competitors such as:
-Company and
Competitors
Factors: ASK ME MD DoctorOnDemand TrakMD

Year of 2019 2012 2018

establishment
Size of the It is a startup  Large Small
company (small)

Founders Elio Sassine, Joelle  Phil McGraw, Jay  Ibrahim

Yammine, McGraw, Adam Jackson Fakih
Georges Rizk,
Rawad Maamari

Location of the Lebanon- Antelias San Francisco, California. Beirut, Lebanon

company
Website Website yet to be Yes Yes
availability completed. www.doctorondemand.com https://trakmd.com/
www.askmemd.com

Social media Facebook, Twitter, Facebook, Twitter, Facebook,

presence Instagram & Instagram and LinkedIn. Instagram,
LinkedIn and Active Presence LinkedIn
 Twitter Active Presence
Active Presence
Advertising and Posts on Facebook Bright visual posts on Video tips, photos
Marketing and Instagram Facebook and Instagram. and interesting
( educational and Their posts are very useful images that is very
awareness posts) and helpful as well. helpful and useful.
As well as Advice They post every week The content is
and tips through keeping their followers up interesting and
videos to stay to date with flu seasons or nice to the eye.
healthy and happy. other diseases.
Polls and ask
questions stories
that are anonymous
and answers
questions while
raising awareness
for others.

Offerings Online Anonymous Online platform that allows TrakMD is an

affordable patients to consult doctors, online digital
application in psychologists, and other platform for
Lebanon that is a healthcare providers in the patients and
platform for users to United States doctors in Lebanon
contact their doctors that provides a
and ask questions. better patient
Online booking as experience while
well helping doctors be
more accessible,
patient-centred,
and efficient.
Price 10$ a month Each online video chat Free
appointment with a doctor
costs patients $40
Quality It is a high quality High High
since all doctors are
licensed and
professional doctors
Target audience Young, Elderly and Young, elderly, and mid- People, who would
mid-age people who age people who want to like to text, call or
wants to ask video call their doctor for book an
question through help. appointment with
texting, video calls, their doctor.
or book
appointments.
Availability Website and Website and application on Website and
application on phone and computer. application for
 android and apple. both android and
apple.
Languages Arabic, Internet English Only English and Arabic
language, English
and French

Texting Yes No ( video only) Yes

Video Call Yes Yes No (only texting)
24/7 hotline Yes Yes Yes
SMS notification Yes No Yes
and reminder
Online booking Yes No Yes

High Price

Low High
Quality Quality

Low Price

III.4. Sales Estimation and Forecast:

 JANUARY: FEBRUARY MARCH APRIL: MAY: JUNE: TOTAL
: :
INFLOWS:
-INVESTMENT: 35000$ 0$ 0$ 0$ 0$ 0$ 35000$

-CREDIT SALES: 1000$ 1200$ 2000$ 4000$ 5000$ 9000$ 22200$

-TOTAL INFLOWS: 36000$ 1200$ 2000$ 4000$ 5000$ 9000$ 57200$

OUTFLOWS:
LEGAL AND ACCOUNTING: 700$ 700$ 700$ 700$ 700$ 700$ 4200$
-EQUIPMENT: 11000$ 0$ 0$ 0$ 0$ 0$ 11000$
EMPLOYEES SALARIES 2500$
(every
Months)

-TOTAL OUTFLOWS: 14200$ 3200$ 3200$ 3200$ 3200$ 3200$ 15000$

30200$

-NET CASH FLOW: 21800$ (2000$) (1200$) 800$ 1800$ 5800$ 27000$

IV. Marketing Plan:

IV.1. Product:

AskmeMD is an application or an online platform that allows users to chat

anonymously with doctors from different fields and ask them medical questions.
First the user must download the application called AskmeMD on play store or app
store. The icon from outside is a black and white picture of a doctor and under the
picture is the name of the application making it easier of new users to find it.

Once it is downloaded, a page opens where the user must write a name or a user
account in order to login. For example: Anonymous1 or Anonym_12…. with the
method of payment for every month. It can be either through his/her credit card or
through his/her Alfa or MTC credit. Before the months ends by two days a
notification will be sent to the user asking if he would like to renew his
registration.
Afterwards, the application directs them to a page where they can find the
frequently consulted doctors on this application, and there is a search box that
allows the user to search for a doctor’s name or a field. In the home page the user
can find as well common specialties that contain the names of the doctors in this
field.
If the user clicks on one of the fields for example a Physician, the application will direct
him to a page where all the doctors of this specific field are shown. The page shows the
names of the doctors with their pictures and their normal face to face fees with the
number of years of experience. On the other side of the page, there will be the ratings,
with the number of consults they did and a box to consult them now.

Last, when the user clicks on his preferred doctor his profile will pop up with many
options such as: Video call, Voice call, Texting or even to watch informative videos from
him.
 Video call Click here

Voice call Click here

Text Click here

We also provide an after sale. The user after using the app, he can fill out a survey
to show what he liked about the service and what he dislikes for us to improve. In
addition to the survey, the user after every session with his doctor can write a
feedback for the doctor and even rank him with stars. When a customer gives a bad
review the application directly send a notification asking what went wrong and
what can we do to improve. The application also offers refund policies if the
experience of the customer was unsatisfactory. We will contact the customer
asking for a refund and see his reasons.

IV.2. Pricing:

The pricing strategy we will adopt is the value based strategy: “more for less”
strategy that balances quality and price.

The penetration pricing is a pricing strategy that uses a low price during the early
stages of a product’s life cycle to gain market share.

These two strategies will be used because we think that the customers will perceive
our application as a valuable thing for him/her and will be ready to register in it and
pay fees to search, contact, and video call… doctors from different kind of fields.

In order to register in the app and be able to use it with all its benefits, we provide the
user two packages:
Package 1: includes all the application’s benefits from informative videos, video call,
voice notes, texting the doctors… and costs only 10$ a month per user. The user can
pay through his/her credit card or dollars will be deducted from their Alfa or MTC
account.

Package 2: includes the same features as the first package but for a year and costs 60$
per user. The user can pay by their credit card or as well by their Alfa or MTC
account.

IV.3. Promotion:

Promotion plays a very important role in the business and is one of the most important
factors of the 4P’s especially since our service is a new idea and needs to be promoted
and advertised. First of all, we will be communicating through direct marketing. It is a
form of advertising that we use to communicate directly to customers through a large
variety of media such as cell phone text messaging, emails, online advertising…We
will be doing a 15 seconds ad that is informative to what our service is and what can a
user benefit if he signs up to our application. This ad will play during games and
during YouTube videos. That way we could reach a large number of people that have
a mobile phone and that are aware of the use of applications. Another way to promote
our application is by social media. The buzz nowadays is social media. Facebook,
Instagram, Twitter and LinkedIn are the trend in our society and that’s why we will be
opening pages on all these sites to attract young people. Opening these pages is free
and at the same time allows us to reach a large number of people. And for a boost, it
cost us 150$ on Facebook and 150$ on Instagram Per month. We will be posting
educative and informative posts, stories, polls, ask questions… that will help the
consumer to know more about the application.
Another form of online advertising is the banner ads that are image-based advertising
rather than text-based advertising. That way we allow customers to be more attracted
to the ad.

We will also use business meetings and door to door personal selling.

In order to boost our service, we can use door to door sale which is a technique to
advertise and campaign our service by walking door to door meeting up with people
to inform them about our application. We will design a power point presentation
providing an explanation of the value of using the app and its benefits. We will be
explaining as well some of its features and competitive advantages.

This technique is accurate and has zero cost but time consuming and will help us as
well with our B2B target audience to convince them of our application.

We will also be giving free one month trial for customer to try the application as a
way of exposing potential customers to our service. This type of initiative is often
pursued to create “buzz” or word-of-mouth advertising.

Budget:
We will be using a budget of 4,000$ for the advertising plan. This budget will be
divided upon our promotion methods.

Promotion Methods
Advertising Specialties Public Speaking

Banner ads (15%) Free trials (12%)

Blogs (2%) Social media (36%)

Direct mail (5%) Telemarketing (4%)

Flyers (6%) Web sites (5%)

Networking Door-to-door (15%)

IV.4. Place:

Our application AskMeMD is online thus found on apple store for IOS users and on
Google play store for android users. We also have a website that available on google
for all devices and computers.

Plus, our office is located in Antelias, which is a very good location since it is close to
qualified labor force, have access to transportation, it is close to the suppliers and to
the market… that way we can maintain and develop the application and is suitable for
meetings and back office management. We will rent this office in order to keep track
of everything and to be up-to-date with new doctors and new prices, create new
features, and keep track of the ratings and customer satisfaction. The average office
rental in that area is around 12000$ per year.

V. Management Plan:
V.1. Key positions:

Joelle Yammine:
Marketing Manager
AskMeMD

Joelle Yammine is a business-marketing undergraduate at Usek. She has 3 years of

experience in sales and communication. She enjoys working in teams, and has all the
team work skills needed.
Her duties as a marketing managers are:
- Creating promotions with advertising managers.
- Identifying new customers.
- Identifying your target audience, position, and segmentation.
- Building brand awareness and positioning.
- Evaluating competitors.
- Build strategic relationships and partner with key industry players and
agencies.
- Developing a pricing strategy that maximizes profits.
- Communication the marketing plan.
- Handling social media platforms, public relations efforts, and content
marketing.
- Developing and managing advertising campaigns.
- Understanding and developing budgets, including expenditures, research…

Elio Sassine:
Chief Executive Officer (CEO)
AskMeMD

Elio Sassine is a business-Management undergraduate at Usek. He is well organized

and a very good leader with great communication skills. He has years of experience at
M.E.S. in which he is a partner and handles the management duties.

As a CEO his main responsibilities are:

- Make high-level decisions about policies and strategies in the company.
- Develop interpersonal and leadership skills.
- Be a primary spokesperson in the company.
- Work with chief financial officer, senior stakeholders…
- Provide a positive work environment to the staff to have better performances
and bigger profit.
- Motivate the staff to make them perform better.
- Oversee the company’s fiscal activity, budgeting, auditing…
- Assure all legal and regulatory documents are filled
- Help with filling staff gaps and hiring new staff.

Rawad Maamary:
Chief Operating Officer
AskMeMD

Rawad Maamary is business-Management undergraduate at Usek. He is very

organized and a good planner. He recently occupied a sales manager position in an
internet company.
As a chief operating officer some of his duties are:
- Implementing business operations.
- Establishing policies that promote the company’s culture and vision
- Overseeing operations of the company and the work of executives.
- Lead employees in order to encourage maximum performance and dedication.
- Evaluate performance through analyzing and interpreting data and metrics.
- Design and implement business strategies, plans and procedures.
- Oversee daily operations of the company and the work of executives (IT,
Marketing, Sales…)
- Manage relationships with partners.
- Write and submit reports to the CEO in all matters of importance.

Georges Rizk:
Chief Financial Officer
AskMeMD

Georges rizk is a business-Audit undergraduate at usek. He is very analytical and

organized. He is very good at forecasting future profits and overseeing the future. He
gained his experience by working at Wilco.

As a chief financial officer his main duties are:

- Providing leadership, direction and management of the finance and accounting

team
- Providing strategic recommendations to the CEO
- Reviewing all formal finance
- Advising on long-term business and financial planning
- Perform risk management by analyzing the organization’s liabilities and
investments. (manage the risk)
- Ensure that the cash flow is appropriate for the organization’s operations.
- Ensure compliance with the law and the company’s policies.
 - Processing invoices.
- Preparing balance sheets and income statements.

V.2. Organizational Chart:

CEO

CTO
CFO COO (outsourcing)

Marketing
Manager

Financial
officer HR Developer &
(outsourcing) (outsourcing) IT Officer
(outsourcing)

We have gaps in our staff that we need to fill through outsourcing such as:
 Alondra fakhry: as a financial officer: she is an audit undergraduate in the
Lebanese University with a 1 year experience in audit and finance. She will be
handling the balance sheet, income statements, cash flow, receipts…
  Joseph Jomaa: as an HR manager. He is an HR graduate from LCU and has 2
years of experience in his field. He will be handling the hiring or referring of
qualified candidates, conducting new employee orientations, process
paperwork, planning and coordinating the workforce to best use employees’
talents, Resolving issues between management and employees…

 Marilyne Hosry: as chief technology officer. She is a computer science

undergraduate in the Lebanese university. She will be developing the
company’s strategy for using technological resources, ensuring technologies
are used efficiently, profitably and securely, evaluating and implementing new
systems and infrastructure…

 Sarah Mghames: as a developer and It officer. She is a computer science

graduate in the Lebanese university. she is a fresh graduate and will be helping
the chief technology officer and handling all IT problems.

We will also need the support of professionals in the field such as:
- Mr. Elias Abou Fadel: Head of The Asher Center for Innovation &
Entrepreneurship
- Ministry of Health in Lebanon.
- Mrs. Joanna Abi Abdallah: Development Manager at Berytech Technology &
Health.

V.3. Ownership & Compensation:

Name (employees) Position Pay % Investment

Ownership in Firm
Elio Sassine CEO 6,000$ 40% 4,375$
 Joelle Yammine Marketing 4,200$ 20% 4,375$
Manager
Georges Rizk Chief 5,000$ 20% 4,375$
Financial
Officer
Rawad Maamary Chief 5,100$ 20% 4,375$
Operating
Officer
Alondra Fakhry Financial 3,000$ 4,375$
Officer
Joseph Jomaa HR Manager 4,100$ 4,375$
Sarah Mghames Developer 3,200$ 4,375$
and IT
Officer
Marilyne Hosry Chief 4,800$ 4,375$
Technology
Officer
Options pool Options pool
Total 30,000$ 100% 35,000

Executive Finance Operation Marketing Sale HR Developer Accounting Technology

Leadership s s and IT

Elio
Sassine

Rawad
Maamary

Georges
Rizk

Joelle
Yammin
e
Gap 1
Gap 2
Gap 3

VI. Financial Plan:

VI.1. Sources of funds:

Source Amount in $
Team investment 35 000
Business Angel Investor 3 000
Loan 10 000
Total funds required 58500
Total funds needed by an investor 10500$

Uses of funds:

Item Cost in $
(yearly)
Equipment 11000
Office rental 12000
Advertising 4000
Office supplies 1500
Employee’s salaries 30 000
Total required funds 58500

VI.2. Income statement:

 January Februar March April May June Total
y
Sales 1000$ 1200$ 2000$ 4000$ 5000$ 9000$ 22200$

Cost of 200$ 300$ 450$ 1200$ 2000$ 3000$ 7150$

sales:
Gross 800$ 900$ 1550$ 2800$ 3000$ 6000$ 15050$
profit
Salaries 2500$ 2500$ 2500$ 2500$ 2500$ 2500$ 15000$
expense
s
Rent 1000$ 1000$ 1000$ 1000$ 1000$ 1000$ 6000$
fees
Office 125$ 125$ 125$ 125$ 125$ 125$ 750$
supplies
Other 400$ - - - - - 400$
charges
Net (3225$) (2725$) (2075$) (825$) (625$ 2375$ (7100$)
profit )
 July August September October November December Total

sales 1200 12500$ 13200$ $13800 15000$ 15200$ 81700$

0$
Cost 4000 4000$ 4300$ 4300$ 4800$ 4800$ 26200$
of $
sales
Gross 8000 8500$ 8900$ 9500$ 10200 10400$ 55500$
profit $
Salari 2500 2500$ 2500$ 2500$ 2500$ 2500$ 15000$
es exp $

Rent 1000 1000$ 1000$ 1000$ 1000$ 1000$ 6000$

fees $
Office 125$ 125$ 125$ 125$ 125$ 125$ 750$
supp
Other - - - - - - -
charg
es
Net 4375 4875$ 5275$ 5875$ 6575 6775 33750$
profit $

Total net profits of the year 2019= 33750-7100 = 26650$

 2019 2020 2021 Overall
total for 3
years
Sales 81 700$ 130 000$ 250 000$ 381 700$
Cost of 26 200$ 36 000$ 60 000$ 112 200$
Sales
Gross 55 500$ 94 000$ 190 000$ 269 500$
Profit
Salaries 15 000$ 20 000$ 25 000$ 60 000$
Expense
Rent fees 6 000$ 6 000$ 6 000$ 18 000$
Office 750$ 1 000$ 1 000$ 2 750$
supplies
Other - - - -
charges
Net profit 33 750-7 67 000$ 158 000$ 251 650$
100=26
650$

VI.3. Balance Sheet:

Year 2019 2020 2019 2020

Current assets Long-term
liabilities:
Cash and banks 15000$ 50000$ Long-term 10000$ 7000$
loan
Total current assets 15000$ 50000$ Short-term
liabilities:
Non-current Accounts 2000$ 2100$
assets payable
Equipment 11000$ 11000$ Total 12000$ 9100$
Liabilities
Accumulated (1500) (2400)$ Equity:
depreciation $
Total non-current 9500$ 8600$ Capital 4000$ 4000$
assets
Retained 15000$ 35000$
earnings
Partner 30000$ 35000$
current
account
Total 61000$ 83100$
liability and
owner’s
equity

References:
https://resources.workable.com/coo-job-description

https://www.betterteam.com/ceo-job-description

https://www.betterteam.com/marketing-manager-job-description

https://www.surveymonkey.com/

https://www.crunchbase.com/organization/doctor-on-demand

https://www.moph.gov.lb/en

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC1434766/

http://berytech.org/companies/trakmd/

http://berytech.org/trakmd-healthcare-solution/

https://www.visit-lebanon.org/leisure/medical-tourism

http://www.aubmc.org/Documents/publications/aubmc_corporate/facts_fig.pdf