HEALTH AND WELLBEING PROJECT

Health and Wellbeing Project – Business Plan 2

Nhu Tam Lam

Student ID: 3764884

Instructor: Faith Matchett

ADM 1192 Business Planning and Entrepreneurship

University of New Brunswick

1
 HEALTH AND WELLBEING PROJECT

In the next step of the Solution section, we are planning to implement a subscription-based

approach, specifically adopting the Flat-rate pricing model. Our subscription plans have been

mentioned before as $9,99/monthly, $27,99/quarterly and $99,99/yearly. All the plans provides

same benefits for every customers, which includes one plan of your choice, one time payment,

the access to all wellness and meal plans on app, and deal and discounts for selected UNB sports

teams. This model involves a consistent fixed fee for unrestricted usage. Renowned for its

straightforwardness, this method simplifies financial forecasts and facilitates seamless future

price modifications. Additionally, promoting a single upfront price to customers becomes

effortless. Value-based pricing. Base your product or service’s price on what the customer

believes it’s worth. Therefore, we chose this strategy of pricing based on our surveys, in which

66.7% of our 15 potential customers from UNBF believe the plan is affordable to them.

UNBF students whose goal is to improve health and reclaim a fit physique such as getting fit,

losing weight, gaining muscle, etc. UNBF who just finished their workout, haven’t had

breakfast/lunch, don’t have time to cook a healthy meal, or want to have a healthy meal to start

the day, etc. Students can renew their subscription every month or every year depending on their

2
 HEALTH AND WELLBEING PROJECT

needs. When asking ourselves the question “how do we build the customer relationships?”, we

have come up with several reasons. First, customers can immediately access to personalized

support specifically online PT (personal trainer) after they purchased the plan. Second, customer

relationships can be built through direct and honest feedback where we learn from our

weaknesses to develop the project even better). Last, about2be has been working on creating a

UNB’s fanpage on Facebook that will be used to easily access to UNBF students through post,

clips, etc. In terms of expenses that about2be are expecting to spend, to host our app on Apple

App Store, we need to pay 99 USD every year, and 25 USD one-paid only when first published

to host an app on Google Play Store for android devices. And in terms of the expected profit that

about2be might receive after launching the app, Initial investment in 2023= -$50,000. After-tax

cash flows (expected) from 2024-2028 are $20,000, $30,000, $40,000, $50,000 and $60,000,

respectively. Therefore, expected IRR = 57%, which can easily be calculated on EXCEL.

A B C D E F G

2023 2024 2025 2026 2027 2028

Initial - $50,000

investment

After-tax - $20,000 $30,000 $40,000 $50,000 $60,000

cash flows

(expected)

IRR = IRR (B2:G3) = 57%

3
 HEALTH AND WELLBEING PROJECT