Do you want to start a medical transport company but you want to go niche? If YES, here are 20 best medical transport related business ideas and opportunities.
The Medical transportation industry provides transportation alongside medical care for patients either by ground or air. These services most often than not are provided during a medical emergency, but they are not restricted to such instances; they are also used during non – emergency medical situations.
The ambulances or vehicles as the case may be, are usually equipped with lifesaving equipment operated by medically trained employees i.e. nurses and doctors et al. It is a known fact that air and land medical transportation service is very essential for sick people that need safe and fast transportation to the nearest medical facility.
Statistics has it that in the united states of America alone, there are about 16,928 licensed and registered medical transportation providers responsible for employing about 200,048 employees and the industry rakes in a whooping sum of $15bn annually with an annual growth rate projected at 1.1 percent.
If you are interested in starting a business in the Medical Transportation Industry, here are some of the best business ideas the industry has to offer;
20 Best Medical Transport Related Business ideas and Opportunities
- Air Ambulance Services Business
If you have the financial means, one of the high profit margin medical transportation businesses you can start is air ambulance services. The Air Ambulance Services industry covers air medical transports including helicopters and fixed winged aircrafts specifically outfitted to transport ill or injured people. Transports in this industry are staffed with qualified medical personnel who provide emergency treatment.
Over the five years to 2019, the industry revenue was estimated to grow an annualized 1.8 percent to $4.0 billion. In 2019 alone, industry revenue is projected to increase by 1.7 percent. In the said period, the industry has experienced growing demand due to an aging population, hospital and healthcare provider consolidation and deteriorating access to adequate healthcare in rural areas.
- Private Ambulance Services Business
If you are interested in starting a business in the medical transportation industry, one of your options is ambulance services business. The Ambulance Services industry comprises of both private and municipal operators that provide transportation alongside medical care for patients basically by ground transport.
Statistics has it that 66 percent of dialysis patients rely on others for transportation to their appointments, only 8 percent depend on public transportation or taxi services, and 25.3 percent drove or walked to the clinic themselves. This same fact also goes for related disease types.
Non – Emergency Medical is yet another profitable business idea in the Medical Transportation industry that an aspiring entrepreneur can start. It is important to state that a large percent of the 20 million adults with chronic kidney disease who are undergoing dialysis three times a week, non – emergency transportation services providers is a reliable way to transport them to their appointments.
If you are diligent and you are serious with your non – emergency medical transportation business, you can start the business with just one vehicle in a small town and then grow to become a national brand.
- Wheelchair Conversion Vans Dealership Business
Another highly thriving business that an aspiring investor who is interested in the Medical Transportation industry can start is wheelchair conversion van dealership business. Wheelchair conversion vans provide families with special needs children or members the opportunity to easily move their disabled or sick family members from one place to another. This business accommodates wheelchair users in need of handicap vans.
5. Wheelchair Rental Business
Wheelchair rental business is yet another good business idea that can be started in the medical transportation industry. You can register your company as a mobility enhancement company that provides scooter and wheelchair rentals in and around your city.
More recently, Scootaround services have extended to contracts with the major airlines in the servicing and repair of passenger mobility equipment that has been damaged in transit. With its growing network, they continue to meet the most diverse travel needs from vacations and business travel to cruises and conventions.
- Ambulance Rental Services
If you have a larger capacity and you don’t want to settle for wheelchair and scooter rental, you can actually start an ambulance rental service. Interestingly, you don’t need to start with a fleet of ambulances, you can actually start the business with just a few ambulances, or even just one. Just ensure that you position the business properly and you will sure attract people who need to hire ambulances on a short – term basis.
- Ambulance Leasing Services Company
If you are considering starting a medical transportation related business, then one of your options is to start a company that is into ambulance leasing. Please note that unlike ambulance rental whose services span within 30 days or much less, ambulance leasing agreements are for longer periods of time usually 12 months or more.
Most ambulance leasing services companies usually target hospitals or people working out of station for a long period of time, let’s say between one year and two years.
- Funeral Car Rental Services Company
Funeral car rental services company is sure listed amongst the best business ideas for 2018 and it is a business that is thriving and profitable in all parts of the world. A funeral car rental company transports the remains of people from the mortuary to burial site or cemetery.
They also are involved in transporting human remains from the hospital or place of death to a mortuary especially if the burial is not immediate and if the burial is immediate, then to the place the body is to be buried.
Just like the wedding car rental services business, in order to continue to generate steady revenue from your funeral car rental services company, you must be ready to partner with funeral homes and mortuary operators. They are in a better position to hire your services.
- Ambulance Gadgets and Accessories Manufacturing Business
There is a large market for medical gadgets and accessories such as ventilators, ECGs and monitoring units, CPR equipment, stretchers et al. If you are considering starting this type of business, then you must be willing to work with the standard and specifications of the regulatory bodies in the industry.
It is capital-intensive to start an ambulance gadgets and accessories manufacturing business and at the same time it is a profitable venture to go into. But it is advisable to conduct a thorough market survey and feasibility studies before starting this type of business; it will help you to identify your own market.
- Mobile Ambulance Repair Business
As long as ambulances are used regularly, there may be circumstances where the ambulance can breakdown on the road. This is because you can never rule out wear and tear. People call ambulance repair mechanics for different reasons; it could be for routine servicing, major repair works, or for refurbishing their ambulance. For whatever reasons; mobile ambulance repair business will always translate to money for the owner of the business.
- Start an Ambulance Manufacturing & Assembling Plant
If you have the financial capacity and of course business exposure, then one of the medical transportation related businesses that you can launch is to go full swing into the manufacturing of ambulances by opening an ambulance manufacturing and assembling plant.
Ambulance manufacturing plants engage in the production of different types of ambulances, ambulance parts and accessories. A good number of ambulance production plants that operate showrooms also provide repair and maintenance services.
This is one of the biggest and most profitable ambulance related businesses you can go into, but you must be ready to explore international markets by exporting your ambulance and accessories if indeed you want to maximize profits in this business.
- Start Ambulance Wholesale Business
If you want to play big by starting a medical transportation related business but you don’t have the capacity to go in to the production of ambulance and accessories, then one of your best options is to go into ambulance wholesale business; a business that engages in the importation of different types of ambulance from different countries and then distributing them to ambulance dealership shops all across the United States of America.
This is indeed a profitable business venture, but you must be able to build good business relationship with ambulance manufacturers and also build robust business network with ambulance dealership shops all across the country.
- Start Refurbishing and Recycling of Ambulances
The fact that some businesses might not be able to afford a brand new ambulance when they need it means that they will always opt for the next available option which is a refurbished and recycled ambulance. So, if you are looking towards starting a medical transportation related business, then one of your options is to go into the refurbishing and recycling of ambulances. Just ensure that you know how to get used ambulances and you will do just fine with the business.
- Open an Ambulance Customizing and Branding Shop
Another profitable medical transportation related business that an aspiring entrepreneur can start in the United States of America and still make cool cash from is to open an ambulance customizing and branding shop. It is the norm for ambulances that are owned by a company to use the same brand, color and design just for uniformity sake.
Aside from that, some ambulance owners might just want to stand out by customizing their own ambulance and they will readily find your shop helpful achieving their desires.
- Open an Online Medical Transportation Booking Website
An online medical transportation booking business, no doubt is a business that is bound to thrive no matter the location you choose to start it. The idea behind this type of business is to ensure that you have a robust network of ambulances, both land and air, enlisted in your site.
Interestingly, you don’t need to have a single air or land ambulance to be able to run this type of business. You just need to enter into contract agreement with ambulance operators in an around your location and then ensure that the percentage per booking from your website is well spelt out and modalities of payment sorted out.
- Start a Recruitment and Training Agency for Nurses and Ambulance Drivers
Another highly thriving medical transportation business idea that an aspiring entrepreneur should consider is to open an agency that is specialized in recruiting and training medical and non – medical staff for medical transportation companies. Nurses and professional ambulance drivers are a key part of the medical transportation industry.
If you are able to carve a niche for yourself in this line of business, you are sure going to get good returns on your investment. The truth is that if hospitals and medical transportation companies know that they can get well – trained and reliable nurses and ambulance drivers from your agency, they will sure patronize you.
- Ambulance Franchising Business
Starting an ambulance franchising business is yet another viable medical transportation related business idea that an aspiring entrepreneur can start in the United States of America. An ambulance franchising business sells franchise to operators who are interested in starting similar ambulance services business in their location.
Franchising is a Business model that allows the use of your business name and business system for the payment of a fee upfront and/or ongoing. Franchising allows an entrepreneur or an organization to make use of your name and trademark. The franchising business model allows the owner of the company i.e. the franchisor to effectively monitor the buyer of the franchise.
- Air Ambulance Leasing Services Company
It might interest you to know that most of the operators in the air ambulance business space do not own the helicopters and propeller aircraft or jet aircraft used in the business. As a matter of fact, it makes good business sense to lease if you are just starting out as against outright purchase of these air vehicles.
So, if you are looking for a medical transportation business and you are an accredited investor or a hedge fund company, then you should look towards starting an air ambulance leasing company. Most air ambulance leasing services usually target hospitals or companies who are into air ambulance services.
- Ambulance Cleaning Services Company
One of the best business ideas in the medical transportation industry that an investor should consider starting is ambulance cleaning services. The cleaning industry is indeed a large industry with various niche ideas and one of the thriving niche ideas in the industry is ambulance cleaning. Trust me, it takes a well – trained cleaner to clean ambulances effectively.
If you are considering starting this type of business, then you must ensure that you position the business in a location where you can easily have access to ambulance operators. They are your market and you must do all you can to be visible to them.
- Ambulance Siren Repair Services Business
Ambulance siren repair services is yet another small – scale but very important business idea in the medical transportation industry. Usually, during medical emergency transportation, ambulances are meant to blare their sirens in order to have free movement whenever there is traffic congestion.
If the siren is bad or faulty, it cannot achieve this purpose that is why the services of siren repair specialists are needed in this industry. If you are considering starting this type of business, then you must ensure that you position the business in a location where you can easily have access to ambulance operators. Of course, they are your market and you must do all you can to be visible to them.
There you have it, 20 medical transportation related business ideas that an aspiring entrepreneur who is interested in starting a business in the United States of America can choose from.