John Walkey
(403) 593.8277
March 26, 2019
Executive Summary
AbC Biofeedback (Abdominal Chest Biofeedback) technologies provide a hardware/software solution to help asthmatics breathe correctly in the comfort of their home. After learning to use the device, asthmatics can reduce their symptoms and reduce their dependency of pharmaceutics. Biofeedback has been proven to allow the conscious control of autonomic nervous system processes.
History
John built an electronic device that incorporates stretch receptive tubing being placed on the chest of a person with asthma and it indicated if the chest is expanding or contracting. Correct breathing is produced by expansion and relaxation of the abdomen and not so much the chest. The initial device provided feedback by an analog gauge. The increasing incidence of asthma has been linked to global warming which indicates that a better solution than simply relying on medication would be a useful product to help people with this disease.
Mission Statement
The mission of AbC Biofeedback is to teach people with asthma to breathe correctly to reduce their symptoms and their reliance on medication.
Description of Products and Services
The AbC Biofeedback device is an electronic interpreter of stretch receptive tubing. One piece of tubing is placed around the upper chest of the patient and the other at the naval level of the abdomen. The display is a dual set of lights which glow red or green as a function of the stretching of the tube. The goal is to keep green lights on and red lights off. This is achieved by the patient breathing with the abdomen raising and lowered with in and out breaths and not moving the chest.
Marketing
In 2014, 8.1% of Canadians aged 12 and older, roughly 2.4 million people, reported that they had been diagnosed with asthma by a health professional. A large percentage of this potential market can e helped by AbC Biofeedback technology. Between 2001 and 2014, females were more likely than males to report that they had asthma (Asthma, 2014 – Statcan.gc.ca). Web marketing will be directed towards females in terms of website advertising and esthetics.
There are tutorials on the internet for how to breathe correctly and evidence that deep breathing, that is, abdominal breathing, causes the most air to enter the lungs. When people are having an asthma attack they are stressed and forget how to breathe correctly. The AbC Biofeedback device encourages users to get back to right breathing, the way people without asthma breathe.
The only competing product is a cell phone app that a person lays on their abdomen area and through the gyroscope in the phone the app detects if the abdomen rises or falls. This does not address chest movement and is error prone and not sensitive enough. It is known that the autonomic nervous system functions can be changed through biofeedback. The AbC Biofeedback system changes the way the automatic response to breathing is conducted even in a stressful illness attack.
Selling and advertising of the product is conducted on the AbC Biofeedback website. On the site, besides ordering information, there are video tutorials on the use of the product and testimonials from existing users.
Ownership
AbC Biofeedback is a sole proprietorship with John Walkey as the owner and manager. As the business grows then I will incorporate the business for liability considerations.
Financial Position
Startup costs to produce the AbC Biofeedback device are low even though each device is handmade.
The custom cases are produced with a 3-D printer. Inside the case is an Arduino Uno with associated LED banks and a 9-volt battery. The stretch leads attach to the case.
Cost to produce each device is $25.00. The device will retail for $99.00 USD. The exchange rate will cover the shipping costs. As customers pay as part of the purchase there is no inventory to speak of. Production is completed as a function of sales.
Cash flow forecasts based on the incidence of asthma in the population of Canada indicate a large potential market. 10% of the potential market, in just Canada, is 240,00 sales at roughly $75 per unit profit (less overhead such as owner salary), is approximately $18 million dollars. This value can be realized over 3 years. With development the product can also be marketed into the United States.
As the start-ups costs are small the owner will cover the costs from their own capital. With increasing sales investors or go-fund-me options can be explored. Incorporation will be considered at the advice of a lawyer.
Appendix
The owner of the business has a background in Psychology, Education, Business, web development and Neuroscience. The desire to produce a product that relieves illness at a reasonable price motivates this product and research. 10 percent of each sale will be donated to the Canadian Lung Association to further research into lung illnesses (www.lung.ca).