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Advice for Determining Business Feasibility

ModernMale

PARKED
Read Millionaire Fastlane
Sep 12, 2019
2
0
5
Australia
Hi guys,

I'm currently looking at starting a business involving medical tourism (mainly plastic surgery) for Australian clients to South Korea.

There is a big medical tourism market in Australia (relative to population), though currently most go to Thailand due to cheaper cost. South Korea has a booming medical tourism market which Australians do not use due to the absence of a medical tourism agency and flight expenses.

However, in 2020 Jet Star (one of Australia's largest domestic carriers) is planning on setting up a cheap direct flight from Gold Coast to Seoul (about $500 Australian return)

I have the networks/contacts to set up the business in both Australia and Korea, but am unsure whether the business will be economically feasible.

While South Korea has some of the best medical facilities in the world (far better than here and in Thailand, our main competitor) I am unsure that will be enough demand - this is because the price for the surgery is comparable to those in Australia.

Any thoughts/suggestions would be extremely helpful.

Thanks in advance.
 

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Rawseed

Legendary Lurker
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Mar 1, 2018
397
902
332
40
Atlanta, GA
Consider setting up a landing page and running traffic to it.

You need to create what Demarco calls a value skew that encourages Australians to pay the extra $500 it cost to fly to South Korea.

Read Unscripted.
 

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