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Healthcare is a booming, dynamic industry with plenty of opportunities for entrepreneurs. New businesses and business models continue to enter the market while existing enterprises find new ways to flourish. Business ownership comes in many forms, from partnerships and sole proprietorships to limited liability companies (LLCs) and corporations. The best structure for you depends on your situation and risk tolerance. Regardless of the type of business you choose to operate, several great ideas have stood the test of time as good businesses for healthcare entrepreneurs. You can implement each idea below with little capital or experience—just a willingness to work hard, develop a strong network, and execute a plan. Here are three great business ideas for healthcare entrepreneurs:
Healthcare Concierge Service
Healthcare concierge services assist with the often overwhelming task of finding and coordinating healthcare services. They help you navigate insurance, find providers, and schedule appointments. Healthcare concierge services are typically offered on a retainer or subscription model, making it a low-risk business idea. The key is to find a niche where you can provide a unique service. For example, one common niche is concierge services for expectant mothers. This can be a lucrative business idea for healthcare entrepreneurs, but expect to work long hours. As a healthcare entrepreneur, you can also look for niches in your local community. For example, if you live in an area with a high concentration of seniors, you can offer services such as assistance with Medicare and doctor appointments.
Vitamin gummy production service
Vitamin gummies are a booming industry, with an estimated USD 5.9 billion in 2020. The best part? You don’t need a healthcare background to make them! You can use an existing recipe or develop your own- your primary business challenge will be sourcing raw ingredients and investing in the Gummy Manufacturing Equipment required to make them. If you decide to build your recipe, you’ll need to learn about food safety and proper cleanliness. Your business challenge is marketing your gummies. You can find potential partners in health and lifestyle stores like Whole Foods and online retailers. The vitamin gummy market is highly competitive, so you’ll need to set yourself apart by offering a unique product that stands out among the crowd. You may consider developing a gummy with a particular ingredient, such as turmeric. You can also set yourself apart by offering a unique flavor, such as jalapeno.
Healthcare assistance app
An app that offers assistance with health-related tasks or issues is a great business idea for a healthcare entrepreneur. For example, you can create an app that helps people find nearby medical facilities and providers, find affordable health care, or find a doctor based on specific criteria, like proximity to work or cost. In addition, a healthcare app may be a good fit for the subscription model. You can charge people a monthly fee for the app or give it away for free and earn money through advertising. Many health-related apps are on the market, but most don’t specialize in assisting people with their health needs. Focusing on a specific need will make you stand out and be more successful. For example, you can create an app that offers assistance with finding and scheduling appointments with mental health professionals.