How To Start A Hospital Equipment Business In Ghana

When people think of business opportunities in Ghana,
Hospitals are usually not the first places they think of.

Incidentally, there are many ways to profit from the health
care industry in Ghana, without ever needing a medical
degree.

In a previous article, We talked about How to start a
Pharmacy in Ghana, which is another of such businesses
that does not require any previous medical training.

Today We will tell you in a few simple steps, how to start a
successful Hospital equipment supply business in Ghana.

Find your niche market

There is a wide range of equipment used in hospitals to
pick from, the little pen-torches and stethoscopes that
doctors use, to wheelchairs and crutches for patients, to
the complex diagnostic machines like the CAT scanners,
MRIs’ and X-ray machines.

Take a few things into consideration when deciding your
niche, such as how profitable the business has been for
others, how much funding you have, how quickly you can
deliver and finally, what product is most profitable for you.

Fund Your Business

Having decided what you’re going to sell, it’s important to
determine the startup costs.

The amount of capital you will
require greatly depends on what you’re selling.

So, do your research, do your calculations and decide how
many units you’re going to start with. Draw up your
numbers and find out how much capital you’ll need.

After you find out how much capital you need, then comes
raising the money.

One thing that is crucial when raising
capital to fund your startup is your business plan.

You
should have a solid business plan if you wish to approach
investors and banks.

They will want to make sure that
they’re investment is in good hands.

The business plan is in fact not important only when
approaching investors, it is also a guideline for what you
want to achieve.

Having a good business plan will give you
an advantage in business in both the short and the long
run.

Read this to find out more about raising capital for
business.

Register your Business

You will have to register your business with the right
authorities.

The Corporate Affairs Commission is the body
you’re required to register businesses with in Ghana.

The
process is fairly simple and you can do it yourself.

But it is
advisable to get the aid of a lawyer to avoid any mistakes.

Acquire a Location for Your Business

Find a facility where you will display your equipment.

This
is where interested parties can come and take a look at
your wares.

Finding a good location for your business is
very important.

You should be close to your target market.

This is especially true when you’re expected to deliver the
goods to the customer.

To ensure prompt delivery of goods,
find somewhere close by.

If you sell equipment that patients will buy themselves,
then make your business as easy as possible to locate.

The size of your facility will depend on what products you
sell.

You will have to keep it clean and you might have to
regulate the temperature depending on what you’re selling.

Doing this will prevent contamination and/or damage to
your goods.

Secure a Supply of the Equipment

Find and meet with distributors and manufacturers of the
products.

You should aim to offer different brands to your
customers.

You will give them options to pick from but no
need for anything too elaborate.

Try and aim for the most
popular brands for each product.

With this in mind, you may
have to locate and buy from different manufacturers and
distributors.

Market your Business

Before you even open, develop and implement your
marketing strategy.

The important thing here is for your
advertisements to reach your target market, be it doctors,
nurses, patients etc.

However you do it, make those
potential customers aware that you sell what they need.

The Importance of good marketing can not be overstated .

In the end, a good business markets itself.

Great customer
service and prompt delivery of goods will foster customer
satisfaction.

Satisfied customers will likely become return
customers.

And with these few steps, you have everything you need to
start your own supply of hospital equipment.

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