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We are ready to tap into the huge market of skin cancer detection with professionals on board. Have proof of concept. At point of mass marketing and expansion

Member: DeepakRallan
Located in: Norfolk, United Kingdom (Great Britain)

Business Details

Business Stage:
  • Started (ready for first growth)
Amount Required:
  • £500000.00
Investment Types:
  • Equity/shares
Reasons:
  • Sales & marketing
  • General expansion of business
  • Working capital
  • Restructure debt
Industries:
  • Medical/Healthcare

Short Description

Diamond SkinSafe is an exclusive skin cancer detection service operating in Norfolk since 2013. The product and operations are now at a refined stage ready for mass marketing.

Exclusive skin cancer detection service in failing NHS provision.
80% conversion from enquiry to paid buyer
High profit margin with low operational cost
Created by internationally accredited skin cancer detection expert (Dr D Rallan)
Relatively untouched market with no direct competition
Projected phase profit of £3.5 million per annum at end of year 3.

Executive Summary

Projected revenues is £4.4 million per annum at end of year 3 with profit of £3.5 million at end of phase 1.

Figures apply to Norfolk only. Replicable model with potential franchisees to expand to rest of UK

Project: Exclusive skin cancer detection service; Diamond SkinSafe

Background

Diamond Skin Care Ltd is a unique private medical dermatology company offering several private and corporate service products. Diamond SkinSafe is our premium private product which has a consistent 80% conversion rate from enquiry to paid buy. The service consists of a full body skin cancer and sun damage check using advanced polarised light technology.

The service is conducted only by practitioners trained in this technique (dermoscopy). Patients have the advantage of complete and instant peace of mind guaranteeing early detection using a non-invasive technique for examination penetrating 1mm into skin. This service is not available on the NHS and there is no other similar provider over most of UK.

Market trend

The NHS has a few specific cancer screening programmes such as breast cancer screening, cervical cancer screening and prostate cancer screening. However, a skin cancer screening programme has never been considered within the NHS despite skin cancer being in fact the commonest of all cancers registered. There are no plans in the foreseeable future to invest in such a programme. There are several technical and practical reasons for this. A gap therefore exists on the background of increasing rate of skin cancer in the population and rising public awareness.

The current local market in Norfolk is represented by the buying demographic we have noted over 3 years of sales. This is primarily caucasian women aged 30-70 and caucasian men aged 40-75. Total age range in our client base is 27-77. No particular socioeconomic group features prominently. Estimated personal income - approx. 25K per annum. Market size in Norfolk alone is approximately 2200000.

At the present price point, 10% penetration of regional market equates to £4.4 million revenue. Our main competitive advantage over other skin cancer check services is that the check is carried out by the specialist (expert) on site and clinical decision is delivered immediately. Only other similar service is available in London. Declining local NHS provision is increasing demand on a year on year basis.

Proof of concept

Diamond SkinSafe was created in 2013. Our monthly conversion rate from enquiry to buyer is on average 80%. We now have returning clients on an annual basis on a client base of 250. Our current aim is to penetrate a larger percentage of the market through marketing and raising awareness of the need and the product. We plan to expand this to Suffolk following launch in Norfolk.

Expansion strategy

Following Phase 1, there are 2 avenues for growth

1.) Franchise of marketing and operations model to clinics outside of East Anglia

2.) Training of interested practitioners in the unique skin cancer detection technology, making them licensed SkinSafe practitioners. This training course is already designed and costed. Following accreditation, practitioners will be able to offer the unique service model in their geographical area under DSC.


Summary of team

Dr Deepak Rallan is the founder and chief consultant of DSC. Over 15 years experience as a UK dermatologist and the UKs only certified international expert in dermoscopy ( a specialist skin cancer detection technique).

Mr Marcus Hemsley - Director of Fountain partnership (on line and digital marketing) winner of Google best on line marketing award, 2016.

Mr Ben Jackson - Director of Commnicate Marketing, (Print media and off line marketing)

Mrs Hayley Martin, Dermatology nurse with over 6 years clinical experience of private dermatology.



Notes

This summary is to be read in conjunction with annex A( spreadsheet detailing financial projections)

A significant proportion of our SkinSafe clients purchase other services such as cosmetic mole removals. Sales from these conversions are not included in the financial projections

Immigration/emigration data from each region has not been considered but is not considered an important determinant overall

The population data has been acquired from local census data in which details of ethnic minority percentages are missing. While this impact is small in East Anglia, it would be a consideration in specific counties we have noted.




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