Entrepreneurship

Business Plan

Our biosensor is an innovative solution with potential for startup implementation. First, we plan to enter the Kazakhstani market. Using the knowledge gained during iGEM's Startup Summer School, we conducted a thorough analysis of the cosmetics market in Kazakhstan and prepared an article on this topic for future publication. The market conditions, absence of direct competitors, and cost savings due to local production were the main factors influencing our choice. Our pilot month involves the production and sale of 200 devices. According to our calculations presented in the business plan below, our net profit is $6,784.71, while our investment costs are only $7,918.

Financial indicators from our business plan forecast:

ROI ≈ 9.93 (This means that for every $1 invested, we expect to earn approximately $9.93 in profit.)

PP ≈ 0.10 (This indicates a payback period of 0.1 years, or roughly 1.2 months.)

We plan to expand to foreign markets after achieving success in the domestic market.

***Note: This business plan was developed as a forecast for entering the Kazakhstani market and subsequently scaling abroad. Initial prices, taxes, and wage information were based on the Kazakhstan market and later converted to approximate U.S. dollar values at the time of writing.