Mobile Infusion Therapy Provider
Startup Costs: $100,000 +
Home Based: Can be operated from home.
Franchises Available? No
Online Operation? Yes
Ask the Expert: Humza Khan, Founder and CEO of HealthIV
HealthIV is a mobile IV infusion therapy company striving to make healthcare more affordable and accessible
Is the alternative medicine industry growing?
As of 2021, the industry continues to grow, with telehealth taking the role of primary doctor visits. Market analyst Grandview Research values the global IV industry at nearly $11 billion and expects an impressive 8 percent growth through 2028.
What are the current trends in alternative medicine and what type of person is a great fit to try this?
With COVID-19, mobile healthcare providing the ease and comfort of receiving care in your own home has been at an all-time high. Someone who is not afraid of a big financial decision that will take the time and effort to yield results. They should have some medical knowledge as to IV therapy and the safety measures that must be taken to operate this business. This would be a great fit for entrepreneurs and investors looking for a fast-growing space targeted towards social groups, athletes, and health-conscious individuals.
How much money can a person expect to make in the first year and in five years?
Roughly two times their initial investment the first year and they can maintain that annual revenue or choose to further expand it to a larger clientele base and recruit more mobile vans.
What kind of experience/training do you need to have?
People heavily involved in this field include physicians and nurse practitioners with credentials, knowledge, and experience, retired medical professionals interested in a new income stream and other health and wellness businesses, such as gyms and vitamin shops. You yourself do not need to be a medical professional if you have partners with that experience but you must do enough research to know how to operate a mobile medical business and be able to guide the professionals working for you.
What do you wish you knew when you were just starting out?
When I was first starting out, I wish I had trusted myself sooner. I had this idea when I was younger and wanted someone to come treat my family under our roof. A lot of our competitors started earlier, and I was even aware this was a growing trend. I can’t help but think where we would be now if I rooted for my younger self and got things going sooner.
Who are your customers?
Everyone can benefit from IV infusions. Our customers range from busy individuals looking for a boost of vitamins to keep them going, to patients with chronic conditions who appreciate the convenience of getting services from the comfort of their own home.
Are there any resources you recommend that were extremely valuable to get your business off the ground?
When I first began, I used Investopedia.com and conducted a SWOT analysis to develop a strategic plan and gather more insight on mobile home healthcare. I used the IV Therapy Academy and completed their online certification program and first assembled a hiring team to ensure once I was ready to launch, I had the manpower to make it happen. A lot of the contracts and licenses were made simple to understand by utilizing YouTube and learning about filings of S-corporations. The rest I recommended going out and meeting like-minded individuals and networking with medical professionals who are seeking opportunities to expand their career into different sectors.