A retail shop to supply surgical instruments to local medical practitioners, dentists and veterinarians
Product/service description
A retail shop that supplies and sells different kinds of surgical instruments to the local medical practitioners, dentists and veterinarians within the city. The business also deals with free delivery of the instruments to the hospital and clinics. Special discounts would also be given for regular customers and for those who order in bulk.
Market Scope/ Potential
With the rise in the healthcare facilities, there is a huge demand of surgical instruments in the market. Though there are many other retailers in the business that involves the supply of medical devices, there is still a scope for people who have good marketing skills, excellent contacts with medical practitioners and have good knowledge about their niche market.
Opportunities
Demand is more and the business is highly profitable.
It is an evergreen market where there is always a need for more surgical instruments.
With the advent of technology, many modern surgical devices are being introduced in the market regularly and these too have a great potential to yield profit.
Risks
Space for retail shop is needed.
Investment is huge as surgical instruments are costly.
Competition is more so smart market strategies are required to succeed in the business.
The instruments sold should be of high quality, as it directly affects the health of the people.
License is required to start the business.
Entrepreneurial qualities
A person who wants to venture into the business of supplying surgical instruments must have a degree in pharmacy and should be well-acquainted with medical devices. He/she should also be a person who has good relations with healthcare providers and veterinarians around the city. Free delivery scheme is being provided so transport facility should also be available. The person should know good marketing strategies, as it is a highly competitive field.
Do's
The business should be registered.
There should be a proper warehouse to store the instruments.
The instruments should in no way be infected or contaminated.
All the instruments should be properly labelled so as to keep them sorted.
A website can be maintained to advertise about the business effectively.
A good market research is required.
Don'ts
Don't sell low quality products, as it can affect the health of people.
The healthcare market is huge. Don't venture into everything at one time. Focus on your niche market, analyse the demands of the customers, gain their trust and then move forward one step at a time.
Conclusion
Though the supply business of surgical instruments has great prospects, it needs a person who is hardworking and dedicated. The person should also be able to maintain good interpersonal relationships with medical practitioners, dentists and veterinarians. A knowledge of marketing is very crucial for the growth of the business.