Promed Rehabilitation Centre is a clinic that provides chiropractic services, physiotherapy; massage therapy, acupuncture and custom-made orthotics. It opened on December 1st 2008 and it was bought over by two best friends – Dr. Nasim Husnani and Dr. Farzana Bandali. After getting their undergraduate degrees, both owners graduated from Canadian Memorial Chiropractic College. The clinic was purchased from another fellow chiropractor that was moving to the states, and once the owners bought the new clinic, they made several renovation changes and redesigned the clinic to look brand new. There are three massage therapists, one acupuncturist, one physiotherapist and two chiropractors that currently work at Promed. The two owners are presently in the midst of opening up another Clinic in Richmond Hill.
Industry Size and Trends:
The industry that Promed belongs to is the Health Care and Social Assistance industry, and it is also then subdivided into the “other health practitioner” subsector. The NAICS code is 621 390 and the SIC code is 8041. There are 33,432 Health Care and Social Assistance establishments in Ontario, which makes up for 37.2% of the total in Canada. Of these employers, 14,343 are small businesses, like Promed, which comprise of 5-99 employees. The first trend in this industry is the fact that the GDP has been increasing since 2001, and it actually rose from $67.2 billion in 2001 to $81.4 billion in 2009. Secondly, profits have continued to rise for small and medium sized businesses. The percentage of profitable firms, which is 95%, is significantly higher than the percentage of non-profitable firms, which is 5%. Lastly, the proportion of the population aged 45-64 has been increasing from 1971, and this one segment that Promed targets.
Current Marketing Situation:
Segmentation: The market is segmented into three; there are blue collar and white-collar adults, individuals in retirement and lastly, children. It is...