Do you want to start a medical supply franchise but lack ideas? If YES, here are 5 best medical supply franchise opportunities you can buy in USA for 2018.
Healthcare costs have been currently estimated to take up as much as 16% of the United States’ GDP, thus making this industry a very profitable one all round.
One does not need to be a medical practitioner or have anything to do with healthcare before one can start a profitable business in the medical industry. In fact, an entrepreneur can make a comfortable living supplying medical equipment to hospitals, clinics, laboratories etc.
Medical equipment supply businesses don’t require advanced medical training before they can start off, although a working knowledge of orthopedics, medical equipment, safety devices and other products is important.
Owning a medical supply franchise can be a rewarding personal and professional experience as you would be doing your part in providing the healthcare needs of the society. If you want to own a medical equipment franchise, here are a few for you to consider.
Top 20 Best Medical Supply Franchises to Buy in USA for 2018
- Dental Fix
Dental Fix is a fast-growing national mobile dental equipment supply and repair company. They supply dentist offices with prompt, on-site equipment service, repair and replacements.
Dental fix provides its franchisees protected territory with no royalty payments. Dedicated specialists are provided to make appointments for franchisees and they will work with professionals while they set up their businesses. This franchise is a mobile business and so no office is necessary, thus reducing overhead cost to the barest minimum.
- Cash Investment – $50,000
- Franchise Fee – $25,000
- Total Investment – $83,000 to $225,000
- MedWOW global
MedWOW global is an online marketplace for buying and selling new and used medical devices and parts. MedWOW Global is the first multi-lingual online directory created in cooperation with medical and online search and directory professionals.
The company is the single consolidated source for medical equipment, parts and supplies giving you access to specific niche service providers in the medical equipment, parts and supplies market on both a local and global level. MedWOW operates an international franchise network which enables qualified organizations from around the world to join the reputable MedWOW brand and offer the website’s services in their territory.
The franchise program offers existing key players in the medical equipment industry the opportunity to expand their existing business by giving them the rights to market MedWOW to end-users such as: hospitals, laboratories, private clinics, dental clinics, veterinary centers, etc, in their territories. In return, franchisees receive a share of all incoming profits that MedWOW generates as a result of user activities on the site from members in the franchisee’s territory.
Their franchise information is available only on request.
- Silver cross
Silver Cross operate a healthcare franchise business that sells, installs and maintains accessibility and mobility equipment for residential applications. Established in 1993 in Ontario, Canada, Bob Harvey, founder of Silver Cross, recognized the growing demand for home healthcare medical equipment because the market was scant at that point.
The company offers stair lifts, vertical wheelchair lifts, incline platform lifts, patient and ceiling lifts, ramps, dumbwaiters, bath lifts, power chairs, lift chairs, walkers, hospital beds and home accessibility modifications for home-bound patients.
Silver Cross began offering franchises in 1995, and today, Silver Cross has home medical and healthcare equipment franchises operating in the US and Canada, and has served more than 200,000 contacts.
- Liquid Capital Required – $100,000
- Net Worth Required – $250,000
- Total Investment – $105,100 to $137,100
- Discover mobility group
Discover Mobility Group is a medical equipment supply company. The company has established a relationship with over 200 suppliers and they are the exclusive distributor of many products including home accessibility scooters, wheelchairs, home lifts, building lifts, auto lifts, ceiling lifts, pool lifts, bath tub lifts, hot tub lifts, scooter carriers, medical beds, wheelchair cushions, medical mattress, driving aids, handicap bathrooms, handicap fitness, handicap bikes, handicap lounge lift chairs, handicap door openers, handicap ramps and more.
The company provides a turnkey package for people that are looking for an opportunity to start and run a rewarding business as well as help physically challenged people at the same time.
- Initial Cost – $24,000
- Group Fee – $180.00 per month
- 101 Mobility
101 Mobility is one of the largest and fastest growing providers of accessibility solutions with over 64 locations throughout America. 101 Mobility provides and installs a wide range of high-quality mobility equipment.
Focusing on quality and customer service, 101 Mobility provides seniors and disabled individuals with professional, established mobility solutions that include stair lifts, auto lifts, ramps, vertical platform lifts, residential elevators, patient lifts, medical alert services, power chairs, pool lifts, power scooters and more.
101 Mobility Owners enjoy exclusive relationships with leading product manufacturers, making it difficult for anyone to compete with them.
- Liquid capital required – $100,000
- Net worth required – $300,000
- Investment – $113,560 to $205,830
- Franchise fee – $39,500
MedStock is a leading supplier of medical and healthcare supplies to clinics, hospitals, nursing homes, medical offices and other healthcare professionals. They pride themselves on offering great prices as well as convenient, dependable, personalized service to all their customers.
As a Medstock franchisee, most of your sales will start in the field instead of spending a lot of marketing dollars in an office where you sit and wait for customers to come to you. This active sales approach sets the company apart from their competition.
- Initial Investment – $54,450 to $67,450
- Initial Franchise Fee – $20,000
- Royalty Fee – 5%
- Baxter International
Baxter International was founded in 1931 by Donald Baxter, a Los Angeles-based medical doctor, as a manufacturer and distributor of intravenous therapy solutions.
The company manufactures and supplies essential renal and hospital products including equipment for acute and chronic dialysis; sterile IV solutions; infusion systems and devices; parenteral nutrition therapies; premixed and oncolytic injectables; biosurgery products and anesthetics; drug reconstitution systems; and pharmacy automation, software and services.
The company’s products are used by hospitals, kidney dialysis centers, nursing homes, rehabilitation centers, doctor’s offices and by patients at home under physician supervision.
Baxter international has over 1,400 locations in over 80 countries and the company representatives worldwide are expanding upon the organization’s rich legacy. Their franchise information is available upon request.
- Island Hearing
Island hearing is Canada’s largest retail company that is dedicated to providing audiological and aural rehabilitative services, including the testing of hearing aids and prescription fitting, and the repair of hearing instruments, supply and related devices.
With over 80 locations in different countries, Island Hearing is seeking franchisees to expand their brand.
- Initial Investment – $35,000 to $85,000
- Initial Franchise Fee – $15,000
- Royalty Fee – 8%
- Advertising Fee – 3%
MEDIchair is a Health Management company that is said to be North America’s largest and fastest growing Home Medical Equipment (HME) franchise company with stores all across Canada.
MEDIchair stores carry a comprehensive line of products including wheelchairs, scooters, lift chairs, bathroom safety products, home accessibility solutions and soft/disposable personal health care products such as incontinence supplies, wound care, compression and bracing etc. These specialty products are designed to enhance the quality of life of people experiencing disabilities, injuries, surgeries and aging.
MEDIchair prides itself on providing caring, knowledgeable and highly trained consultants committed to finding the right home health care product solution for each customer.
- Initial Investment – $350,000
- Initial Franchise Fee – $50,000
- Royalty Fee – 5% of annual gross sales
- Miracle-Ear Inc.
Miracle-Ear Inc. is a leading supplier of hearing instruments and aids nationwide. Kenneth Dahlberg started Dahlberg Electronics in 1948 where he thoroughly researched hearing aids. In fact, he manufactured the first Miracle-Ear there, and today, Miracle-Ear is a subsidiary of Italian hearing aid distributor Amplifon, with U.S. headquarters in Plymouth, Minnesota.
Miracle-Ear’s retail locations offer free hearing tests and consultations and offer service, warranty, supply and after-care packages with their hearing aids. Miracle-Ear Inc. offers in-house financing to its franchisees to cover franchise fee, startup costs, equipment, inventory, accounts receivable, payroll etc.
- Initial Investment – $119,000 to $287,500
- Net-worth Requirement – $75,000
- Liquid Cash Requirement – $25,000
- Initial Franchise Fee – $30,000
- Ongoing Royalty Fee – $48.80 per aid
- Veteran Incentives – 10% off franchise fee
- My Eyelab
Founded in 2013, My Eyelab is one of the fastest growing full-service centers that retail and supply optical equipment. With a mission to provide quality eyeglasses and expert eye care services, My Eyelab has become a leader in the eye health industry by developing an accessible alternative to over-priced eye care services.
My Eyelab utilizes teleconsulting to enhance efficiency for patients and optometrists. This technology eliminates the need for an on-site laboratory, thereby significantly reducing startup and operational costs for franchisees. My Eyelab has been consistently ranked by Vision Monday as among the largest retailers in the United States, and most recently as the 18th largest optical retailer in the U.S.
- Initial Investment – $209,150 to $462,400
- Initial Franchise Fee – $24,900
- Royalty Fee – 10%
- Advertising Fee – 13%
- Pearle Vision
Pearle Vision is an American chain of eye care stores that was founded in 1961 by Stanley Pearle, an optometrist in Savannah, Georgia, United States. Pearle Vision is one of several gems in the collection of eyewear stores held by Luxottica Retail, which also operates the LensCrafters and Sunglass Hut chains.
Pearle Vision’s retail outlets offer eye exams, glasses, sunglasses, contact lenses, and optical accessories. Dr. Stanley Pearle began the concept of one-stop, total eye care with the opening of the Pearle Vision Center in Savannah, Georgia. There he combined complete eye exams with an extensive selection of eyewear.
Today, there are nearly 850 Pearle Vision locations in the United States, Canada and Puerto Rico. In 2004, Pearle Vision became a subsidiary of Luxottica Retail, an optical company that manufactures and supplies optical equipment.
- Initial Investment – $400,324 to $605,230
- Initial Franchise Fee – $30,000
- Royalty Fee – 7%
- Advertising Fee – 8%
- Veteran Incentives – 20% off franchise fee
- Renewal Fee – $2,500
- The Dentist’s Choice
The Dentist’s Choice is a network of locally-owned dental handpiece repair businesses serving dentists throughout the United States and Canada. The Dentist’s Choice has been repairing and servicing dental drills since 1992.
Franchisees repair, rebuild and maintain all models of drills. The Dentist’s Choice can also rethread and bur tools, replace fiber optics and sell handpieces. For nearly two decades, The Dentist’s Choice has developed a reputation among dental professionals for providing quality repairs at an affordable price.
Their highly-trained repair specialists are committed to providing a high level of customer service and satisfaction that their clients have come to expect.
- Initial Investment – $25,900 to $30,100
- Initial Franchise Fee – $17,500
- Royalty Fee – 1 to 5%
- Vital Dent
Vital Dent is a well-respected leader in the dental health care field. This multi-national company began business in Spain in 1989 and it started first as a dental prosthetics manufacturing and supply business. In 1991, the company began developing dental offices, and in 1995, Vital Dent established its franchise system.
Vital Dent owns and operates 23 company offices and 160 franchised offices in Spain, with another 10 franchised offices in Portugal and 2 offices being built in Italy. The Vital Dent franchise network is now being developed in the United States.
- Initial Investment – $512,500 to $797,000
- Initial Franchise Fee – $45,000 to $60,000
- Royalty Fee – 5%
Zounds was founded by Sam Thomasson, an engineer and entrepreneur who spent his career developing new technologies in the medical device and consumer electronics industries. Motivated by a hearing impaired teenage daughter, Sam went ahead to manufacture breakthrough hearing aids that addressed the key problems common with high-end hearing aids.
Sam created high-performance semiconductor chips and related software with low power usage algorithms that dramatically improved voice and sound quality in cell phones, video phones, desktop phones, conference call phones and automotive communication systems.
Zounds currently offers a portfolio of hearing aids and wireless devices that provide the world’s best performing technology at an affordable price to anyone with a mild, moderate, or moderate/severe hearing loss.
- Liquid Capital Required – $100,000
- Net Worth Required – $300,000
- Total Investment – $150,000 to $200,000