Medical Laboratory Business Plan in Nigeria / Feasibility Study
For those who are very interested in starting up a Medical laboratory business in Nigeria, this post is meant for you. We will be giving you a full detail of how you can start a medical laboratory business in Nigeria. And i tell you my friend, you will find this very useful.
What is Medical Laboratory?
When we talk about a medical laboratory in Nigeria, we don’t just mean an ordinary room but a situation room and why is it called as such? Because it plays a vital role in saving the lives of individuals.
A medical laboratory is actually not inferior to a doctor’s office or the theatre for operation. It is also akin to a pharmacy but it also serves a parallel purpose and order in medical attention.
Infact the medical laboratory by our experts is the very soul of diagnosing which is primarily their main purpose.
This is another kind of business that it will be very difficult for anyone outside the medical field to open this kind of business. The medical aspect of business is not the type anyone can goes in. Because anyone who wants to get into the business must be certified for such. There are some basic requirements that you are necessary to start and run a medical business in Nigeria. You must be licensed to operate any medical Business in Nigeria without this license and qualification you cannot operate a medical laboratory business in Nigeria.
For those who don’t have the necessary license and documentation to operate a Medical Laboratory Business in Nigeria, you don’t have to worry about anything at all. You don’t have to start a medical schooling now or start attending a medical school or any medical related courses. There is always a way to go around it. Now you can partner with someone who is medical personnel or you could put an experienced professional in charge while you be the CEO. So we talk in this direction.
HAVE A GOOD PLAN
This is all what you need to do to be very successful Medical Laboratory Business owner in Nigeria. You have to strategize on how you want to make your business grow. It must be a step by step detailed outline that must be adhered to, that must be adjustable and that you must follow through to make your Business a successful medical laboratory business.
Don’t just open a business that will run without without having the necessary checks and balances that should serve as a yardsticks that will be used to measure your project and your business. This measurements will help your projects and help you focus on your goals and help you achieve your goals in the nearest possible future.
Starting a Medical Laboratory Business in Nigeria is quite an expensive venture to go into and also very lucrative. Well, the largeness of this business depends on the amount you are investing into the business. The capital invested too has a long way to go too in regards how you want the business to grow. When we talk about capital, we also mean money that will be used to for other logistics too. You need both human and material resources to invest on as you start up your business full time.
Like we have already said before, Medical Laboratory Business in Nigeria is a very expensive one which means you have to be very financially buoyant to set up this business. Your capital will help you identify,calculate and approximate how much it will cost you in investing in this business. But if you don’t have the necessary capital needed to start up this business, then worry not just click here to see how you can get capital to fund your business ideas.
If you are to legally operate a business here in Nigeria and also creating a legal identity for your brand and business, then you have to get it registered. And the registration is been done by the corporate affairs commission (CAC). This isn’t enough though. You have to also approach the medical bodies charged with the responsibility of registering intended business owners. See how to register business here
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HAVE A GOOD MARKET STRATEGY
This also involves advertisement too. Which means you are gonna place ads on the services you render. For example, you don’t have place adverts on what you medical laboratory don’t offer. These adverts could come in as known to the patients and doctors either by banners, newspapers, adverts and other modes of advertisement like television, radio or print media. On your adverts ensure you put the contact address of your office, and phone numbers of either you or your secretary.
You can read how to advertise your products on Facebook and youtube
This is very important. Now you won’t want to start up your medical laboratory business and in the middle of a test or work a machine develops fault. That is the very reason you must go get the best equipment for your business. Please get the best of equipment therein and ensure you get what is in serviceable condition.
Let’s list some of the equipment dialysis machine, weight and scales, diagnosis, office and laboratory cabinets, laboratory stools, Bunsen burner, laboratories consumables like gloves, tubes etc.
Remember that you have to get a big location for your business. The reason is that you will be needing an admission center, a test lab, storage and a unit etc. There will be need for staff and customer’s mobility so the place must be very spacious and also very conducive.
ENSURE TO GET GOOD STAFFS –
We can assume you don’t have an idea of the medical line and that you have decided to still go ahead of
With opening a medical laboratory business in Nigeria, but you don’t want to employ staffs that have no idea in Medical matters. Don’t even think of it. Whoever you are staffing must be qualified, certified and then must have experience.
It is far advisable to have experienced staffs in each department of your medical laboratory. At least one experienced person must or should be in every department of the business. But remember that experienced staffs usually are more costly than fresh graduates and that is why we arrive one experienced staff in every department to head the graduates employees
After all set and done, get a location that can manage your equipment. An environment where all your lab equipment can be accommodated. Ensure their is constant water supply and electricity. Ensure you check with the health sector for proper registration and licensing.
In as much as you can operate this business with license from the medical practitioner who are in charge, you will still need to register your business name. And how do you do that? You can do it via the Nigerian corporate affairs (CAC). You read up our article on how to register your business.
Now one of the top secrets in this business, is in insuring your goods. Remember when i said something about a phrase “highly inflammable”? Yeah. That’s it. Most times many dealers lose their products to fire outbreak which for me is really avoidable but should it happen is that the end of this business? A far cry from no and no. You have to insure your business against fire outbreak, theft etc.
Sometimes it’s very difficult to get the necessary capital required for this business and i tell you, we have it all covered. All you need to do is click on this link to get access to our full article on how you can get capital to fund your business.
When you register a company, then you start the company, it doesn’t end there at all. How do you win customers? It comes via various system but one of them is through advertisement. How do you want to advertise your company? Well, worry not.
You can check our article on how you can advertise on YouTube and Facebook. You can do the advert via television, radio, print media, etc.
From our team of experts, we have been told that this particular business is a very profitable business. Though it’s capital intensive but it’s a very profitable business to get into. So it will be a very good idea if you get into this business as you have proposed in your heart. Don’t also forget to get updated on latest technical equipment because science and technology are improving very fast with rapid advancement. This ia will keep you ahead in thistle business.
Our well documented sample MEDICAL DIAGNOSTIC BUSINESS PLAN IN NIGERIA can be used to access bank loans, proposal writing and grant applications.
The business plan was recently compiled after a thorough feasibility study on MEDICAL DIAGNOSTIC BUSINESS IN NIGERIA was done by our team of experts.
Get the complete MEDICAL DIAGNOSTIC LABORATORY BUSINESS PLAN / FEASIBILITY STUDY. To place an order, pay N10,000 to
GTBank (Guaranty Trust Bank)
Account Name – Ogumka Innocent
Account No – 0153723721
After payment text your name and e-mail address to 09066078526 and you’ll receive your MEDICAL DIAGNOSTIC BUSINESS PLAN IN NIGERIA.
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