The medical industry remains somewhat recession proof. After all, people get sick and need care regardless of the state of the economy. Starting a medical supplies business online provides a cost-efficient way to join the medical field and turn a profit without investing years of time or money in medical training. Specialize in a certain product line, or offer a general selection of medical supplies for homes or health-care facilities.
Research
Conduct research to decide which products you will sell. Some online medical suppliers offer thousands of items for professional use. For instance, from vinyl exam gloves to feeding tubes and catheter access ports. Other companies sell home-care items such as beds, canes, vitamins and home diagnostic tests. Once you’ve determined which products to sell, choose an appropriate business name. Therefore, your consumers can quickly identify it with medical supplies.
Funding
Secure funds to start your business. You specialize in a particular home-care line, such as compression garments or diabetic supplies. Then, you’ll need a minimum of start-up money. Supplying hospitals and healthcare facilities with large equipment requires much more funding. You also need to understand clearly of how the devices work.
Paperwork
Complete necessary paperwork to register your business. Check the local requirements in your city and state, and acquire a tax identification number (TIN) for the Internal Revenue Service. Consult the American Medical Association regarding specific licenses for certain product types. If you sell medical supplies that require a prescription, comply with the Health Insurance Portability and Accountability Act (HIPAA).
Rent a warehouse
Rent a warehouse and office space. Since you’ll conduct transactions online, you’ll need warehouse space to house the medical supplies and a small office. When you have a place, you invest in a computer, printer, phone system and fax machine to keep track of orders and correspondence.
Purchase supplies
Purchase medical supplies to stock your business. You’ll usually find it cheaper to buy directly from the manufacturer. But you may only purchase certain items from a distributor. Check some business and medical websites for lists of reputable medical supplies wholesalers and manufacturers.
Hiring employees
Find qualified employees. You’ll need a sales rep with a good understanding of medical supplies you sell. A customer service rep to answer emails and phone inquires from customers. You also need an accountant and warehouse workers to pack and ship orders.
Set up website
Hire a professional business Web designer, and include photographs and accurate descriptions of the medical supplies you offer. Study prices from other online medical suppliers, and set competitive prices. Advertise your site in medical publications and on medical websites.
