Medical/Healthcare/Hospital

Market Scope/Potential: According to ResearchAndMarket report India pet care industry advanced with a value CAGR of 23% during 2012-17. According to the analysis by ‘Type’ this market will grow with a CAGR of...

Market Scope/Potential: According to ResearchAndMarket report India pet care industry advanced with a value CAGR of 23% during 2012-17. According to the analysis by ‘Type’ this market will grow with a CAGR of over 17% during 2016 – 2021. 

Service Description: Having a pet animal is a very common...

Market Scope/Potential: According to ResearchAndMarket report India pet care industry advanced with a value CAGR of 23% during 2012-17. According to the analysis by ‘Type’ this market will grow with a CAGR of over 17% during 2016 – 2021. 

Service Description: Having a pet animal is a very common thing but with the change in lifestyle and rise in income; the care towards the pet animals has gone to another level. Pet lovers want their pets to live a luxurious life and thus demanding wide range of services like Food, Healthcare, Grooming, Travel (it is difficult to travel with pets, so a service to move pets is a much needed one), Shelter (when people in home went for vacation, who will take care of pets?), Accessories, Toys, Training, Events, etc. There are a few pet Healthcare, Accessories shop, and Shelter center but no one is offering all type of pet care services at one place. If there is one stop shop for all the pet care and services then pet lovers won’t go anywhere.

Opportunities:

• A new type of service
• Less or no Competition
• Huge Profits

Risks:

• Takes time to get into the market
• Huge investments

Entrepreneurial Qualities

• Marketing & Advertising techniques
• Can handle huge investments
• Patience

Dos

•    The location should be within the reach of the high-income group

•    Attract and retain customers

•    A bonding with Pets

•    Necessary safety precautions

Don’ts

•    Should not hurt pets

Conclusion: The need for pet care and other pet services are growing in India and it is the right time to get into the market.

Product/Service description

Sell renowned health supplement and multivitamins online through Amazon. Get in...

Product/Service description

Sell renowned health supplement and multivitamins online through Amazon. Get in touch with health supplement manufacturers, sell their products, advertise about the business in different ways like...

Product/Service description

Sell renowned health supplement and multivitamins online through Amazon. Get in touch with health supplement manufacturers, sell their products, advertise about the business in different ways like on social media, through flyers and also word of mouth.

Market Scope/potential

These days people are becoming more health conscious. As the quality of food is degrading and the lifestyle is becoming erratic, most of the nutritional needs are not fulfilled just by eating the normal food. So, people are in a need of different kinds of nutritional supplements that can enhance the quality of their health.

Opportunities

1. Online business needs less investment.

2. The storage and transportation is handled by Amazon, though they charge a some amount for their service.

3. Scope of the business is good because the demand of nutritional supplements is increasing day by day.

Risks

1. There is a lot of competition in the market so one needs to have solid advertising and convincing capabilities to attract the customers.

2. A license is required from FDA to sell health supplements.

3. Anything that is going to be ingested by the customers has the risk to cause reactions, so the product should be from a renowned manufacturer only.

4. The review on the Amazon platform should always be good so as to attract more customers.

Entrepreneurial qualities

In order to start a health supplement business, one should definitely have a little knowledge about food supplements and vitamins. This will enable the person to keep a check on the products that he/she is selling. Apart from this, since online business is only on the internet, a good marketing is required to attract customers.

Do's

1. Do think about specialising in the area of health supplements. A crash course can also be done to gain knowledge. If this is not possible, take the help of a person who knows about the field.

2. Invest in quality products. Look for only genuine manufacturers.

3. Keep the label in compliance with the FDA rules and regulations.

Don't

1. Don't underestimate the power of attractive labels. Ask your manufacturers to design an attractive label or leverage a label making company for it.

Conclusion

Online health supplement business has a great scope for people who have a little knowledge in the pharmacy field. A person in this business should also have good communication skills and convincing power to put customers' minds at rest and make them believe that the product is going to enhance their health. Marketing strategy is also one of the factors that is crucial to succeed in this business.