Start-up roundup: Breaking into the medical equipment business
In recent years, the business of selling medical equipment has seen a palpable surge in revenues. Entrepreneur.com asserts that every year, millions of dollars’ worth of medical equipment is being sold, making medical equipment sales one of the more lucrative forms of business ventures. As a matter of fact, taking part in this rewarding industry is not all too difficult, and aspiring entrepreneurs may break into it without difficulty—as long as they do their homework properly.
The site also states that tart-up costs may range from $10,000 to $50,000. While this might seem too hefty a capital for the starting entrepreneur, the return of investment could make one reconsider. The potential profit range may reach a whopping $50,ooo to $150,000 per year—as much as five times larger than the starting capital.
Interestingly, there are a few strategies that can be adopted in terms of medical equipment sales. First, one can establish a retail store that directly sells medical equipment to walk-in customers and online shoppers (if an online shopping option exists). Another possibility is to become an independent sales consultant who represents medical equipment manufacturers. In this strategy, medical equipment may be sold to hospitals and health centers by soliciting or using the tender process in which hospitals and medical centers routinely ask for bids to replace equipment.
Either way, a venture into the world of medical equipment sales may prove to be profitable to anyone who is willing to invest the proper amount of persistence and hard work. As with any form of investment, it is not without risks; a huge amount of effort is needed to effect commensurate returns.
Jason Nikouyeh is the chief operating officer of Duramedix Healthcare, LLC, America’s premier supplier of quality home and medical supplies.
Log on to Duramedix.com to know more about the company.