Business Plan on "Business Plan for Sleep Lab"

Business Plan 30 pages (8375 words) Sources: 30 Style: APA

[EXCERPT] . . . .

Business Plan for a Sleep Lab

National Institutes of Health - National Center on Sleep

Disorders Research

Necessity of Sleep Reviewed

Sleep Industry

Types of Sleep Lab Business Structures

Mission Statement

Keys to Success

Market Analysis

Equipment

Supplies

Technicians

Business Plan for a Sleep Lab

National Institutes of Health - National Center on Sleep Disorders Research

According to the National Institutes of Health 2007 Fact Book the National Center on Sleep Disorders Research (NCSDR) "...plans, directs, and supports basic, clinical, and applied research, health education, and training in sleep and sleep disorders. It oversees developments in its program areas; assesses the national needs for research on causes, diagnosis, treatment, and prevention of sleep disorders and sleepiness; and coordinates sleep research activities across several Federal Government Agencies and with professional, voluntary, and private organizations. The Center promotes information sharing and coordinates implementation of inter-Agency programs. The NHLBI sleep research program seeks to understand the molecular, genetic, and physiological regulation of sleep and the relationship of sleep disorders to CVD. It also supports efforts to understand the relationships of sleep restriction and sleep-disordered breathing to the metabolic syndrome, including obesity, high blood pressure and stroke, dyslipidemia, insulin resistance, and vascular inflammation. Ongoing NHLBI-funded research projects include elucidating the etiology and pathogenesis of sleep disorders, particularly sleep apnea; determining the role of sleep apnea in CVD and cerebrovascular disease; examining sleep and sleep disorders across the lifespan; and identifying new animal models of sleep disorders." (NIH, 2007)

Necessity of Sleep Reviewed

The work of David W. Sparks addressing the necessity of sleep reports that researchers have not yet identified the precise purpose for sleep however, it is believed by the majority that "it does something important for the continuation of life. It has a rejuvenating effect on the mind and body. Every living thing requires sleep. Without it our mind and nervous system begin to break down. If we stay awake too long, we become irritable and even psychotic. Sleep clinics and sleep labs are all too familiar with this information and have capitalized upon it." (Sparks, nd) When the individual sleeps they are resting however the processes internal to the human body are not idle and in fact during sleep the human body and brain are "highly active, performing an organized series of events that allow our body and brain to rejuvenate, revitalize, refresh, renew and recharge the batteries." (2009)

Sleep Industry

Nichole L. Torres states in the work entitled: "Building a Business on a Good Night's Rest: Entrepreneurs Find Success in Variety of Sleep-Related Avenues" that sleep awareness is everywhere these days. From studies documenting how we don't get enough sleep, to new luxury amenities designed to help us sleep better, to the multitude of books and other products dealing with the dynamics of sleep, it's clear sleep is on a lot of people's minds - entrepreneurs included." (2009) Torres reports the statement of Reiner Evers, founder of Trendwatching.com an industry-trend forecaster who states "It all fits into the trend of massclusivity - that is, more people wanting more luxury products and exclusive products in general. Category by category...room by room, it's all succumbing to consumers' insatiable appetite for the best of the best. Next: the bedroom." (2009) Torres states that it is additionally cited by Evers that the expanding group of baby boomers with money to spend and also wanting a "good night's sleep." (Torres, 2009) Today's boomers are seeking "comfortable, health-conscious and professional-grade beds, and are often willing to pay the hefty price tag." (Torres, 2009) the International Sleep Products Association, U.S. mattress and foundation wholesale shipments grew from $4,76 billion in 2002 to $5.04 billion in 2003, a 5.8% increase." (Torres, 2009) Torres additionally reports:

Case in point: husband-and-wife team Adam Boyce, 44, and Trina Greenbury, 35. In 2002, they launched DreamEssentials.com an online retailer for sleep and relaxation products, as a way to make extra money so Greenbury could be a stay-at-home mom. After a successful holiday season selling products made by local Rainier and Yelm, Washington, artisans, they decided to grow their idea by branding their own line of sleep masks and selling other sleep products, such as body pillows, alarm clocks and soothing sound machines. Sales have more than doubled every year since, with 2005 sales expected to exceed $1 million. "The biggest challenge we face is the inability of our customers to try things on," says Boyce. However, he adds that while many people initially shop the site for a single item, once they see all the other products available, they return again and again to purchase. From throwing grown-up pajama parties to purchasing high-end pj's, consumers are embracing their comfort zones. Just ask Brandon Evans, 27, the founder of Threadcountzzz Corp., a New York City manufacturer, wholesaler and retailer of high-threadcount pajamas. His luxury sleepwear, designed to feel like sleeping in high-thread-count sheets, garnered an immediate following -- after his 2003 startup holiday season, he had more than 1,500 people on his waiting list. "The reception has been unbelievable..." (Torres, 2009)

It is additionally noted that the larger hotel chains are adding high-end beds to their rooms to entice guests. Once consumers have updated their sleep products...the hotels will have to offer quality bedding just to keep demanding guests happy. So if you're dreaming of a sleep-related business, think beds, comforters duvets, pillows, alarm clocks, pj's, sleep masks -- the list is endless. Just think sleep." (Torres, 2009)

Sleep Disorders - Review

Following lost sleep to the unsuitable bedding it is related that the second source "of deprived sleep" or that of sleep disorders among which are at least 70 with the most widely recognized being

1) heavy snoring;

2) obstructive sleep apnea (OSA);

3) insomnia; and 4) restless leg syndrome. (Torres, 2009)

Sleep disorders affect people not necessarily according to what time they go to bed and how long they remain in bed because many individuals with sleep disorders get a good eight hours every night however "some physiological or psychological disorder impinges on the quality of their sleep." (Torres, 2009)

There are two primary classifications of sleep which are:

1) non-rapid-eye movement sleep (NREM); and 2) rapid-eye movement (REM). (Torres, 2009)

There are four depth of NREM sleep as follows:

Stage one - high frequency (fast), low amplitude (small) brain waves;

Stage Two, Three and Four - the brainwaves grow slower (lower frequency) and larger (amplitude) marking the phases as the individual enter deeper and even deeper sleep. Each stage of sleep has been identified to serve the function of delivering a "specific renewal, rejuvenation, and recharging function for specific systems of the body." (Torres, 2009)

Hormones are also known to be "generated during sleep. One such hormone is known as human growth hormone." (Torres, 2009) This hormone plays a major role" in the growth of the individual and in the aging process and the process of metabolizing food. This hormone assists in weight control. REM sleep is a stage of sleep when the eyes are moving both "rapidly and erratically" beneath the individual's eyelids. This is a lighter stage of sleep and the brainwaves are similar to the first stage of NREM sleep and the individual is practically paralyzed during REM." (Torres, 2009) Torres additionally reports that one of every 20 individuals suffer from what is termed 'sleep paralysis' resulting in fright as they experience the feeling of falling or waking up abruptly. For extremely serious cases of this problem REM-inhibiting drugs exist. The REM stage of sleep is the stage in which the individual dreams which tends to play a primary role in the individual's mental health. Dreaming is believed to be the brain's method of processing incoming information and there is stated to appear to be "a transferring of information gained while we're awake from short-term memory to long-term memory." (Torres, 2009)

Some believe that dreams assist in the resolution of real life conflicts or chaos in the life of the individual. Dreams may be both fascinating and frightening. When sleep is interrupted due to a "chronic sleep disorder..." there is a great chance the individual will experience fatigue and have a concentration problem. Normal sleep involves cycling through the stages noted "approximately every 90 minutes to 2 hours." (Torres, 2009) Negative outcomes of a sleep disorder in the life of the individual include the scientific observations as follows:

shortened life span

Greater risk of cardiovascular disease

Gastrointestinal problems

Decreased work performance

Memory lapses

Marital strife

Irritability

Depression

Anxiety

Stress

Problems with weight control

Explosive Outbursts

Mood swings

Greater risk of high speed highway crashes

Road rage

Accident prone

Body aches

Decreased sex drive; impotency

Premature aging (Torres, 2009)

II. LITERATURE REVIEW

The work of Rich Smith entitled: "Sleep Health & Wellness NW Strikes Success in Oregon" relates that it is "no secret that sleep is a rapidly growing field. Business analyst Frost and Sullivan projects that the next 5 years will bring double-digit growth for the U.S. sleep service provider market." (2006) Smith states that the key… READ MORE

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