How to Start Hospital Equipment and Supply Business in Nigeria

Without a medical degree, there are many ways you can make profits in the healthcare sector. Unknown to many, a lot of money is generated from providing healthcare services. This can be gotten from opening a pharmacy, selling medical equipments, and many more.

In this post, we will consider how you can sell medical equipments to make money. Selling of hospital/medical equipments does not require a licence or special skills. It merely involves having a basic knowledge about the necessary items needed in the hospital plus good business approach to become successful in the business.

You need to follow the steps stipulated below if you are keen to know how to start a Hospital Equipment Business in Nigeria.

1. Choose Your Niche

There are 4 categories of equipments used in the hospital. They are diagnostic, procedural, treatment, and patient needs equipments. Diagnostic equipments include examination tables, urinalysis and blood testing equipments, x-ray and body scanning equipments, and devices used for monitoring heart rate, temperature , and blood pressure. Suction machine is a typical example of a procedural equipment.

In deciding your niche, you need to weigh some factors such as how profitable the business has been for others, the needed capital, the products you think will yield more profits.

2.Source For Capital.

The needed capital depends greatly on what you’re selling. Do a market survey to get the current prices of equipments. This is to decide how many units you’re going to start with. Draw up your numbers and find out how much capital you may need to start up.
Now that you have an idea of the amount you need to start up, source for the capital. You can take loans from microfinance bank, from family members, friends, even from online money lenders without collateral such as Paylater, KiaKia, RenMoney amongst others.

3.Register your Business.

You have to register your hospital equipment business with the Corporate Affairs Commission. The registration process is fairly simple and you can actually do it yourself. However, you can prefer the service of a lawyer to avoid mistakes.

4. Get a Preferred Location

A good location is very vital in this business. You have to be close to your target market to promote increased sales. You might be expected to deliver the goods to the customer, hence, it is reasonable to be within the closest reach. If you sell equipments that patients will buy themselves, then, make your business easy to locate. The size of your facility will depend on what products you sell.

5. Secure a Supply of the Equipment

Now that your facility is ready, the next is to stock it up with equipments. Try to get in touch with manufacturers or wholesalers of hospital equipments. Buy the common brands, and get varieties so as to present options to your customers.

 

6.Market your Business

The Importance of good marketing can never be overemphasised. Let your target audience (hospital managements, nurses, Doctors, lab scientists etc) be aware of your new establishment.

You can make use of flyers, posters, small sized banners. If you can afford it, try to make brochures that contains all your products. And do not leave business cards out. They are your most important marketing tool.
Also note that a good business markets itself. Provide great customer service and ensure prompt delivery of goods to promote customer satisfaction. Satisfied customers will definitely come back for more!!!

These 6 steps are the foundation guidelines for you if you are keen on starting a medical equipment in Nigeria. Be game to earn real cool cash in this business but expect some little challenges. It is inevitable!!!