Do you want to start a medical waste disposal company from scratch? Or you need a sample medical waste disposal business plan template? If YES, then i advice you read on.
There are many ways an entrepreneur who is determined and diligent can make money and one of the ways of making money is to establish a cleaning company that specializes in medical waste disposal. Medical waste is not like the normal waste that can be handled by both trained and untrained cleaners; it requires some level of professionalism and safety measure to successfully run a medical waste disposal company.
Medical waste basically comprises of wastes generated in the hospitals, laboratories, dental clinics, optic clinics and diagnostic centers, and what have you. Also, this waste can be harmful to humans if not properly disposed.
You might quite agree that handling wastes such as; used disposable handle gloves, face masks, blood soaked cotton wools, placentas, needles and syringes, etc; can’t just be handled with levity because of the potential danger that it can cost to both humans and the environment.
So, if you truly want to make money in the medical industry and you know you don’t have the startup capital to build your own hospital or clinic, then you should consider starting your own medical waste disposal company. Medical waste disposal business requires low startup capital to get it established and it is indeed a profitable venture especially if your company is located in an area where you have appreciable numbers of hospitals and clinics.
Now let us quickly go through the 7 steps to follow to be able to establish your own medical waste disposal company from the scratch and build it to profitability within the shortest time possible;
Starting a Medical Waste Disposal Company – Sample Business Plan Template
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There are a lot of things you need to know before starting your own medical disposal company. Parts of what you need to know are the laws regulating the medical waste industry, the type of insurance cover needed (liability insurance), the competitors you are likely to contend with in your city, the numbers of hospitals, clinics, rehabilitation centers, diagnostic centers, labs, dental clinics et al in the city you intend starting your own medical waste disposal company, and the required training you should undergo.
If you are well informed of the industry you want establish a business, it will make it much easier for you start the business and build it to profitability.
2. Acquire Training
It is important that as the owner of the medical waste disposal company that you acquire the required training to be able to operate this type of business. You can relate with the public health department of your country to know all the available trainings required for those involved in medical waste disposal. You are likely going to be trained on solid Waste Management, hazardous waste management, and disinfection and safety procedures.
3. Register Your Business
Of course, you can’t operate a medical waste disposal company without registering the company with the government of your country. As a matter of fact, the medical waste disposal company is amongst the businesses that are highly regulated by the public health department of a country because of the hazardous nature of the industry. Hence, ensure that you contact your lawyer to help you with the registering of your company as fast as you can so that you will be able to apply for all the necessary permits and license.
4. Acquire All Necessary Permits and License
Establishing a medical waste disposal company means that you are to apply to both federal and state government, to obtain all the necessary permit and license needed to function as a medical waste disposal company. You would need solid waste permit, hazardous waste transporter permit, and you would also need an approval for your waste processing plant. So, if you are building or acquiring a waste plant, ensure that it is suitable for the purpose you want to use it for or else you won’t get approval from the public health team that will inspect it.
5. Choose a Good Location for Your Medical Waste Processing Plant
Your choice of location for establishing your plant must be approved by the public health department of your country before you can obtain permission to go ahead to build the plant. So, when shopping for a location, ensure that it is a place designated for the establishment of such company.
If you don’t have the financial capacity to build a new plant, then you should look for old ones to acquire. The most important thing is to ensure that you equip your plant with standard incineration, steam sterilizers, radiation detection devices et al.
Running a medical waste disposal company is not one of those companies that you can run alone. You would need some couple of employees to work with you. Just ensure that you give your employees the required training for them to be able to work in the medical waste disposal business.
Now that you have put all things in place, then the next step you need to follow is to print your marketing materials and then approach hospitals, clinics, diagnostic centers, dental clinics, nursing homes, dialysis centers, and labs to sell your service to them. The truth is that if you are able to secure more than 5 contracts within the first 3 months of starting your company, then you are likely going to break even within the first year of starting your company.
Lastly, it is important to note that all the permits and license you obtained are subjected to renewal and they can be revoked if you are found wanting. Therefore, ensure that all your workers and drivers inclusive are trained and even re – trained to meet the demand of the medical waste disposal industry.
The success of your medical waste disposal company will be determined by your operational and marketing strategies; that is why you must endeavor to hire best brains to help you come up with winning strategies to run your business.