PRECISION

MEDS
BUSINESS PLAN &
OPERATIONS MANAGEMENT
ANALYSIS

PREPARED BY:
THE BARACUDDAS, LLC

Making life more about You

Legal Form
The Barracuda LLC is a general partnership of three people who all contribute to the
company. Tylen, Kendall, and Khalil all contribute either money, property, labor or skill, and
expects to share in the profits and losses of the business. We chose this particular form of
business because we all felt like we could all contribute equal equity, capital, shares, and control
of the firm. This would prevent a heavy workload on the members. Also a general partnership is
less expensive to form, and requires less paperwork. Because the general partnership is so simple
and easy to for it allows all of the members to be as flexible as possible and share all of the
profits and/or benefits.
The advantages of our general partnership is that we report our portion of the profits or
losses/debts on our personal tax returns. This is different from limited partners because limited
partners have limited personal liability for business debts as long as they dont participate in
management. Another advantage of our general partnerships is no income tax, but the
owners(partners) do pay. The profits and losses of the business is passed down to Kendall, Tylen,
and Khalil, and we declare the share of the business income on our own personal tax returns.
And as partners we pass through tax entities. This avoids tax issues like double taxation of
income. We can also deduct losses from the business on our own tax return. It also makes
everything flow easy.
A disadvantage as owners/partners, is that we are personally liable for our business debts.
Our business plan is beneficial to our business because the skills of three people in the business
will combine to be an asset for the business. This will help with the products that are being sold

in the future of the business and it allows more ideas for new products, improvements to other
products, and ultimately financial success.
Description of the Business

The Barracudas LLC is a business that believes to help patients get the most out of their
medication in order get the treatment needed to feel health again. Precision Meds is a product
that strives to organize pills and remind patients when to take their meds for all types of patients
old, young, and feeble. All of our products contain weekly marked containers with the day of the
week labeled on each tab. This business is about assisting medical subjects and improving the
lives of unhealthy people who are need of assistance when nobody gives them a hand. Our
location for our business is in Canada where Precision Meds will be manufactured.

Products/Services
Our product, The Medicine Alarm Clock, is a particular container that stocks and
schedules ones medication. The Medicine alarm clock is a square-shaped container for each day
of the week. There are several versions of the pill organizer with 7-day, 14-day, and 28-day
boxes that are perceived as a way to prevent or reduce medication errors on the part of the
patient. They are useful for all types of patients especially the aging and others with memory
deficiencies, and those taking various medications. They allow a patient to know whether or not
they have taken the appropriate dose of their medication. If a pill still remains in its slot, it is
apparent that it has not yet been taken, whereas if it is missing, it has already been taken.
It will have discrete features to make them easier for special-needs patients to use such as
color-coding, braille for the blind, or a locking structure to prevent double dosing. Similarly,
some organizers used for diabetes patients have sections for insulin and syringes. If they are
helpful some pharmacists preload pills into pill organizers for their patients as a convenient
service.
With our product, there will be a few competitors that we will be faced with. In this day
in time, many people, especially the older individuals are concerned with their pills. Many of our
competitors will have the same idea of having natural ingredients in their product for the skin,
many people, especially women are concerned with their hair and skin. Many of our competitors
will have the same idea of having natural ingredients in their product for the skin, our products
are its threats.

Target Market
Our product is intended for male and female patients who live in Canada who are looking
to organize their extensive number of pills. Men and women want this product because as stated
above the product will make it straightforward as to what day and time to intake certain pills. It
will eventually become their daily routine so it will be embedded in their brains on when to take
certain medication. Based on market research the and location of customer base our customers
will most likely be both men and women who live in Canada and value the importance of their
medication.

Opportunity

Pill organizers can be found in many different pharmacy stores such as Walgreens, CVS
Pharmacy, or Rite-Aid. Pill organizers are for those who take a variety of different medicines.
Every year, thousands of senior citizens are placed in nursing homes because they did not take
the right medication at the right time. Medication mix-ups are extremely dangerous. There are
several different issues with taking multiple medicines. You may forget to take your medicine,
take the wrong dose, or take them at the wrong time. Sickly consumers may demand a product
that can set up their pill box for a specific day and/or time. There are too many individuals in the
world that have to take multiple pills each day and not everybody can remember exactly what
days or time of day to take these doses. Canadas population continues to age, mental health
services and support for senior citizens are becoming a greater priority. Also, many seniors live
fulfilling lives without significant physical or cognitive changes. Several challenges come with
aging such as: physical ailments, mobility issues, chronic pain, cognitive and sensory
impairments can affect ones functional ability. Once those impairments are recognized and they
attend doctors offices therefore may be sent home with multiple prescription drugs to take daily
or weekly to solve their pain. Which is a perfect situation for our product the pill organizer
comes into place.
Unlike other countries all citizens of Canada qualify for health coverage regardless of
medical history, personal income, or standard of living. It is a group of socialized health
insurance plans that provides coverage to all Canadian citizens. Under the health care system,
individuals are provided preventative care and medical treatments from primary physicians as
well as access to hospitals, dental surgery and additional medical services as discussed earlier.
Canada does boast one of the highest life expectancies (about 80 years) and the lowest infant
mortality rate of industrialized countries, which may attribute to Canadas health care system.

Provided that the life expectancy is higher than average means there are a larger amount of elder
citizens to accompany our pill organizer product which could possibly increase revenue.
The target market demographics is obtainable for any consumer. The Medicine Alarm
clock will target all ages, races, and genders. The only exception is to not let any child under the
age of 7 use the product as a toy to play with. If needed pregnant women and young feeble
children may purchase for whatever reason needed. The product comes in three different boxes:
7-day, 14-day, and 28-day boxes. Mainly we are trying to reach the older generation with more
years under their belt and may have more pills to arrange. Also, to appeal to the younger patients
by putting popular cartoon characters on the boxes.
According to the population there are 35.16 million people in Canada in 2013. At that
particular time, 15% of that 35 million are over the age of 65 which is over the average
percentage for a country which allows our advertising and revenue to expand to a bigger
community than a country like Cameroon, Africa that has a substantially low senior citizen rate.

Description of Trends
In Canada, nearly twenty percent of the population is over the age of 65. Canada has been
known as mentioned before to boast one of the highest life expectancy out of all countries at
about 80 years. The high life expectancy within Canada inspired encouraged our business
because with so many senior citizens health problems will become more common such as
arthritis, diabetes, and depression. With Arthritis being the number one pain for elder that have to
take pills to relieve the pain daily or weekly. Also, the older we become the more our memory
can be altered and if a doctor tells a patient to take specific pills at certain times we can easily
misunderstand the doctors instructions. The Medicine Alarm Clock can be used as a memory
file as to when to take certain medications.
Canada has a diverse selection of permits needed to jumpstart our business. Just to
register our business we will need 9 different permits just to be recognized as a business. Next, to
be able to sell our products we need 2 permits to place our product in stores. We are also going to
need only one permit to either change building occupancy or building use like a warehouse. To
manufacture or process our product we will need 4 permits and transporting our goods to and
from stores will be an extra permit. Altogether that would be 17 permits in all just to start our
business and if you want to advertise your goods on signs or billboards then that would be 4
more permits to attain.

Competitive

Our product is not the most popular medical item that comes to mind which means that there are
few companies that we compete with. One of our competitors is PillPack who also packages pills
in a smaller plastic packet. E-Pill Medication Reminders will be our strongest competitor they
also have alarm clocks imbedded in their medication containers. To separate our companies their
product is worth $79.99 but ours is going to be an affordable price of $29.99.
Strengths
Affordable
Location of business
Opportunities
Business and product development
New International Market

Weaknesses
Lack of Market strength
Funding
Threats
Competition could develop expensive
new marketing strategies
Market demand downfall

To retain customers, we will give them the option to refer a friend for a company discount on
their first purchase. Also, we want to build a relationship with our customers and implement
feedback surveys of our products and how we can make it suitable for them. Sending birthday
wishes could be something small which attribute to brand loyalty.

Description of Marketing
Precision meds is needed for all citizens above the age of 65. Precision meds can be
found in retailers across North America. Precision meds is for anyone who needs to take pills
either weekly and/or daily. Precision meds is a clock that dispenses medications at a certain time
and day. This is important for senior citizens because often times seniors forget to take
medications or take them late. This is also important for females on birth control because often
birth control medications have to be taken at a certain time daily or the medication will not work.
According to www.agingcare.com the number two problem that senior citizens face is,
Memory loss. According to this article the best way to fix this problem is to have a pill organizer;
this is until the precision med machine was created.
Top 6 Medication Problems and How to Prevent Them. (n.d.). Retrieved April 27, 2016, from
https://www.agingcare.com/Articles/medication-problems-elderly-people-have-146111.htm
Economic Challenges
Looking at the economic challenges the Canadian economy is strong in many section like
foreign trade, resources, and a strong financial system. Historically, those strengths have
translated into good returns that invest in large and mid-sized companies.
However, the migration of some of Canadas best-educated and skilled workers to the US
poses another challenge to an economy that thrives blossoms on its talent pool. Much of the
brain drain is available to the lower taxes and higher wages. As a trade-fueled economy, Canada
is vulnerable to a decline in the economies that are its major trade partners. The U.S, China,

Japan, and the European Union are among Canadas key trading partners. A slowdown in these
economies would affect Canadian revenue from energy, cars, and basic materials that make up its
major exports including our product.

Trade Blocs, Common Market

Trade blocs and common markets are an advantage and disadvantage to The
Medicine Alarm Clock because it eliminates tariffs, bringing cost of imports down. that will
make the demand change and consumers make more purchases based on lower prices. Trading
for free without restrictions will make (MAC) more competitive. Trade bloc on (MAC) increases
the foreign direct investment, economies of scale, competition, trade effects and market
efficiency. It also lowers the cost to manufacture our products locally. The disadvantage of a
trade bloc is that manufacturers in numerous countries can come closer together which promotes
greater efficiency within the firms. It will allow foreign firms to gain domestic market share at
the expense of local companies. Disruption of trade within the trading bloc as a result of a natural
disaster could have consequences for several different countries.
References

"The Benefits of a Medication Reminder and Organizer." The Benefits of a Medication Reminder
and Organizer. Web. 26 Apr. 2016.

"Canadian Health Care." Canadian Health Care. Web. 26 Apr. 2016. <http://www.canadianhealthcare.org/>.

"Current Issues - Canadian Mental Health Association, Ontario Division." Canadian Mental
Health Association Ontario Division. Web. 26 Apr. 2016.

"The Benefits Of Using Aloe Vera For Skin Care And More." Mindbodygreen. N.p., 07 Feb.
2013. Web. 29 Nov. 2015.

Permits and licences search - Canada Business Network. (n.d.). Retrieved April 27, 2016, from
http://www.canadabusiness.ca/eng/search/stp3j/sgc-3520005/naics-339110/

Funding
The cost of funding wouldnt be very high because it will just be manufactured locally
and it shouldnt be expensive to package and store our product. It is important to remember that
prices for manufacturing such small products does not reflect many of the same costs as
conventional items in terms of growing, harvesting, transportation, and storage, does not apply to
this particular product. Therefore, the process is often much easier labor and management
intensive. For our product, we have to make sure that our packaging includes our manufacturing
company, product company, and logos on each box. Storage for our products will be container
boxes. Container boxes are very simple and locked so that the patients pills do not fall out of its
slots. It provides easy access to unlock and lock each section for pills because our customers can
take out and insert as much as they need without having to worry about crack the container. Our
idea of containers assists the consumer with carrying in mobile areas some of which are purses,
glove compartments, or desk drawers. When giving the opportunity to trade with another
country, the freshness will be closed tight and for transport, we will need small-scale bubble
wrap to protect our containers from distorting the shape of the box and avoid crushing the
capsule.

Culture
Canada is much different from the U.S. when it comes to the culture of business
regulations. When doing business in Canada, do not mention your expectations for success based
on your experience in the United States. Canadian business people will not appreciate the
comparison. Also, while exporting you must have a Business Number with an export-import
account, find out if you need an export permit, and report you exports to Canada Border Services
Agency which could involve inspection of your shipment.
Business culture differs throughout Canada, depending on the region. It would be helpful
to learn English and French as those are the official languages in Canada. In meetings there are
some rules to having manners around Canadians that may be distinct to others. For instance, do
not initiate a discussion on comparing Canada with the U.S. it may set them off and of course do
not get into personal issues. Do not wear any scent including perfume or cologne at all. It can be
a threat to people with asthma or allergies, which are common with Canadians. At meetings
Punctuality is a priority. For an evening social event, it is tolerable to show up 15 minutes late
but no later than 30 minutes.
https://www.sba.gov/starting-business/choose-your-business-location-equipment/tips-choosingyour-business-location
http://www.forbes.com/pictures/fjle45liem/no-2-wilmington-north-ca/

http://www.wilmingtonchamber.org/index.php?c=ds

Location Analysis
In determining a location beneficial to a company, you must first insure that the location
is consistent with the image you want to maintain. Ontario, Canada is a city that meets the
criteria of a place to start a business that you plan to expand on. There are plenty of statistics to
support this such as: average revenue of businesses: $665,548, Percentage of businesses with
paid employees: 23.6%, Number of businesses per 100 people: 15.1 and and Unemployment
rate: 7.1%. According estimates, Canada's population was estimated at 36,048,500 on January 1,
2016, up 62,800 from October 1, 2015. In the last quarter, Canada's population growth rate was
0.17%, twice the rate observed for the same quarter in the previous year. After three months of
little change, employment increased by 41,000 (+0.2%) in March, lowering the unemployment
rate by 0.2 percentage points to 7.1%.

With the gains in March, employment grew by 0.2% in the first quarter (+33,000). This
was the fourth consecutive quarter with 0.2% employment growth. In the 12 months to March,
employment increased by 130,000. Over the same period, the number of hours worked increased
by 1.2%. In March, employment increased among men and women ages 25 to 54, with little to
no change among other demographic groups. Employment increased in healt- care and social
assistance, accommodation and food services, professional, scientific and technical services as
well as 'other services.' In contrast, there were fewer people employed in manufacturing. Private
sector employee numbers increased in March, while there was little change in the number of
public sector employees and self-employed workers. In March, employment in health care and
social assistance increased by 25,000, bringing total gains to 77,000 on a year-over-year basis.
There were also more workers in accommodation and food services. In the 12 months to March,
however, the number of people employed in this industry was down 27,000 (-2.2%). There were
12,000 more people working in professional, scientific and technical services in March.
Compared with the same month a year earlier, gains for the industry totaled 52,000 or 3.8%, the
fastest year-over-year growth rate of all industries. In other services,' such as those related to
civic and professional organizations, as well as repair and maintenance, employment increased
by 9,900. In the 12 months to March, however, the number of people working in this industry
was little changed. Real gross domestic product rose 0.6% in January, a fourth consecutive
monthly increase. Manufacturing, retail trade, and mining, quarrying, and oil and gas extraction
were major contributors to growth in January. The output of goods-producing industries grew
1.2% in January, mainly as a result of increases in manufacturing and mining, quarrying, and oil
and gas extraction. Utilities, construction, and the agriculture and forestry sector also rose.
Durable-goods manufacturing rose 2.6% in January, after expanding 1.2% in December and

0.9% in November. Gains were notable in the manufacturing of motor vehicles and parts,
fabricated metal products, and non-metallic mineral products in January. In contrast, machinery
manufacturing decreased. Some people won't consider a move to a smaller country like Canada,
where salaries may be lower, because they don't want to lose purchasing power. But oftentimes
the opposite is true. While the average salary may be low, the cost of living is also low.

Manufacturing Plan
Our products main functions include time wind-up, time setting, time indicating, alarm
wind-up, alarm setting and ringing for medical use. It contains parts such as: T-shape handle,
back plate, time mainspring gear, alarm spring gear, case, leg, knob on bell, bell pillar, bell
connecting rod, bell base, clock panel, front cover, corner pillar(long), corner pillar(short),
second hands, minute hands, hour hands, second wheel, minute wheel, hour wheel, round-shape
handle, alarm mechanism axle, leaf spring, alarm mechanism gear, subassembly cover, front
metal plate, bell striker and back metal plate. Our business is expected to start out in a 3000
square foot building, with 2 floors. Because this is our trial run, it will be more. The supply

chain for this company is fairly simple until the company grows. The supply chain is basically
receiving the raw materials from a company then transported to the manufacturing plant. After
the manufacturing plant, the product is then sent to the packaging plant, and then the product is
ready to hit the market.

beneficial for us to start in a smaller building in case our product distribution fails.

Pricing and Cost of Production

The price of our product will be 29.99. The price will be 29.99 to ensure a quality piece
for our customers as well as a large profit for the business. We have done research on the product
and we believe that selling this product at this price will give us the optimum amount of profit.
The product costs the company 5 dollars to make. This means that we are profiting almost 25
dollars for every precision med machine that we sell. We are currently trying to find ways to
decrease the cost of production. Currently the clock is the most expensive part of making the
precision med machine. The plastic is fairly easy to acquire and actually cheap to use.

Motivation
All small and large scale business want motivated employees. these types of employees
seem to be more efficient and produce better results. Some of the goals you want to achieve may
vary from one project/staffer to another, the process you follow can be copied every time.
Establishing an experimental, learning attitude can turn early failures into success. When
rewarding, you must reward top performance and make it clear on what is considered at the top
of this performance scale. Along with this description of what you consider top performance, you
must also develop ways to motivate your employers that dont perform as well as they should.
Communication is always key in these environments. Every management and executive meeting
should start with each department head recognizing someone from their team who has gone
above and beyond standards. Effective reward systems include all types of monetary
compensation plus a wide variety of other motivators that are important to people in a work
setting. Your company will reap the benefits when you reward good performance with job
assignments, recognition, growth and learning, additional responsibility, trust, authority, and

autonomy. The effectiveness of any reward system requires two primary factors. First, the
recipient must perceive the reward as a positive event, and second, the reward needs to
encourage the desired behavior. Instead of relying solely on monetary rewards, some other
methods regarding how you treat employees should be enforced. When people perform well,
provide them with opportunities for advancement, increase their responsibilities, allow them
more freedom to make decisions, or give them larger portions of the budget to control. This is
not meant to be taken as punishing them and over assigning responsibilities. Mutual respect in
the workplace is a major key for all these methods of rewarding/motivating employees to be
successful.