If you have any plans to encash this COVID-19 pandemic opportunity, then you have stumbled upon the right page. Here, I am going to share the 7 best healthcare business ideas that you can start in India right now. So, without any further ado, let’s get started-
The current epidemic of the COVID-19 has put a major burden on healthcare practice. It has affected organizations across the globe as most of the people locked down in their homes to avoid the spread of the virus. The global epidemic has also given us countless lessons and insights on how best we can plan for the future.
However, The Covid-19 outbreak encourages innovative opportunities within the healthcare sector. The health care industry is an ever-growing industry and expected to soon become a billion-dollar industry in India. With the current pandemic and increasing health consciousness of the people, it is all set to become one of the most exciting and promising sectors.
Top 7 Best Healthcare Business Ideas To Start In India In 2020
In this article, we have given you a compilation of 7 of the 2020s most valuable healthcare business ideas.
1. Retail Pharmacy
A small specialty pharmacy business is the fastest and cheapest way to start out in the healthcare industry. This is currently one of the most successful and profitable healthcare business ideas in India. If a person wants to start his own pharmacy shop he or she has to follow the Retail Pharmacy Business Regulations, which guide the collection, inventory, marketing, and storage of the medication.
The most important aspect of this business is the location. Find a location near healthcare clinics and hospitals as that will be the place where you will get the majority of the customers in one place. The best part of the retail pharmacy business is that you don’t have to invest too much money into it. There are many homegrown retail pharmacy chains who are having a presence all over the country. One such example is Med plus which is a Hyderabad based company with 1555 pharmacies across India.
2. Fitness centers
As a business opportunity it is always better to start with a business that is popular and trending. In today’s world, each one of us has become a fitness conscious. Fitness and work out are the latest buzzwords and people across all age groups are looking for gymnasiums or fitness centers.
You can either take franchisee of a popular fitness chain or can start your own brand. It is very important to do proper research about the location and surrounding places before opening of a gymnasium or fitness center. Remember, the cost of opening a fitness center is not fixed and depends on the equipment and services you want to provide. To get an idea about the setup you can visit any of the branches of Gold’s Gym. It is one of the leading fitness centers with more than 120 branches with pan India presence.
3. Fertility centers
The current lifestyle and stress factor leads to the infertility of many modern couples. There are an increasing number of couples who are getting enrolled in different fertility clinics so that they can conceive. This is one of the most underrated but profitable business opportunities in the field of the healthcare sector.
The best part with Fertility centers is that the fertility treatments are long term so your business venture can soon turn to become a profitable one. Indira IVF is one of the largest and most popular fertility chains in India who along with regular fertility treatments also providing training to healthcare professionals.
4. Home health care company
Home health care companies provide healthcare services from the comfort of home. There are many people who are looking for such services which may include services for elderly people, nurses for sick people, or day and night health assistance services.
The basic advantage of this business is that you can start this business with minimum investment as it is a service-based industry. Also, the profit percentage is very high in this business. Off-late there are many Indian companies who have started venturing into this business. Care at home is one such home health care company based out of Ahmadabad and engaged in proving a wide range of home health care services.
5. Mobile health care
Mobile health care is one of the exciting new forms of healthcare business ideas which is all set to grow big. Because of the COVID-19, people would like to do most of the things from the comfort of their homes to maintain social distancing. People are increasingly using their phones for different purposes related to healthcare like fixing appointments with doctors, schedule clinical testing or booking physiotherapy sessions, etc.
There are many companies that have started providing such mobile healthcare advice and telemedicine facilities. 1mg is one such mobile application that provides specialized advice from doctors over the phone other than providing home delivery of medicines.
Polyclinic has become one of the growing forms of a healthcare business. Polyclinics are basically one-stop solutions for outdoor patient care needs. People can consult with a doctor, can undergo a clinical test, or can do various health checkups in a polyclinic.
Since everything comes under one umbrella, it becomes really easy for the patients to avail of the treatment. It is also a high return business as it is service-oriented. Apollo clinics are one of the most trusted polyclinic chains with presence across India. You can visit one of their centers to get an idea of the polyclinics and services they provide.
7. Veterinary Clinics
A veterinary clinic is yet another lucrative business ideas in the healthcare field. The veterinary clinic is meant for providing healthcare services for animals. A veterinary hospital looks after and treats animals that are ill or diseased.
With the increase in the number of pets, demand for veterinary clinics is all set to grow. In case you are looking for a quick return from a business, you can consider opening a veterinary clinic. Make sure you find a good location for a veterinary clinic with a maximum density of pet owners. Crown Vet is one such veterinary clinic that is providing advanced care services for pets.
In the current time, healthcare is one of the pressing priorities. COVID-19 has uncovered or strengthened customer perceptions and behavior that can radically change healthcare. We expect established players to change their business innovations and emerging entrepreneurs to introduce new models that will not only increase preparedness for the epidemic but also increase the overall adaptability of healthcare systems.
You can try out the above-mentioned business ideas in case you are looking for a business with a minimum investment with quick returns. Try to visit one of the established players to get a practical idea before venturing out to any of the above-mentioned businesses.
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