There are a lot of ways an entrepreneur who is determined and hardworking can make money and NPCS has found out that for the startups one of the ways of earning money is to start a cleaning company that focuses on medical waste disposal. Medical waste is something that needs to be managed very carefully, it can be a hazard and dangerous, for both the person handling and for the environment. Medical waste compromises waste created by hospitals, labs, optic clinics, dental clinics, and diagnostic centers. This waste may contain environmental contaminants as well as harmful bacteria that if not handled properly can lead to a spread of disease, it should be handled very carefully and professionally to make sure the environment is safe and livable for everyone. The medical waste disposal business needs low startup capital to get it established and it is no doubt a profitable business majorly if you locate your company in an area where you have a good number of hospitals and clinics. The information provided below by NPCS will indeed lead you by the hand and show you the way to kick start the business.
Related Projects;- Medical Devices & Disposables Industry in India
Steps To Grow Your Business of Medical Waste Management
1) Acquire the training
It is necessary for you as the owner of the medical waste disposal company to get the required training to be able to operate this business. You can relate with your public health management of your country to know about all the available training required for those people who are involved in the medical waste industry. You will probably be going to be trained in solid Waste Management, hazardous waste management, and disinfection and safety procedures.
2) A winsome business plan
Once you are trained and have all the knowledge related to your business start by planning it. Your journey towards success and profit in this sector starts with a business plan. The need of the business plan is that it is a reliable tool to get the funding for your business. Your plan should consist of all major points such as the background and purpose of your business along with the marketing and all the financial data.
3) Market survey
While making a business plan you must conduct a market survey, find out your competitors, their weakness, and strength. You should be aware that the anticipated market size of global medical waste management is going to increase from USD 6.8B in 2020 to 9.0 billion by 2025, at a CAGR of 5.5%. The medical waste management industry has a rising growth due to the increasing number of healthcare waste and the growing geriatric and obese populations.
4) Register your business
It is obvious that you cannot operate a medical waste disposal company without registering it with the government of your country. The industry of medical waste is one of those companies which is regulated by the public health department due to its hazardous nature. So, apply for the registration as soon as possible so that you can avail of all the necessary permits and licenses.
5) Source for contracts
Once you put all things in place, the next step for you is to print the marketing material and then approach hospitals, clinics, and labs to sell your services to them. If you are able to make even 5 contracts within starting months then you will likely grow within the first year of starting your company.
Related Books:- Waste Management, Waste Disposal And Recycling Industry
Conclusion
The book by NPCS “Medical, Municipal and Plastic Waste Management Handbook” helps you to deal with all types of medical waste and disposal with the rules and available options for you to help in growing.
Related Videos:- Medical, Plastic and Municipal Wastes Management