Thinking about opening an oxygen equipment and supplies business? We tell you what you need to know to get started.
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Creating a Business Plan for an Oxygen Equipment & Supplies Business
A common mistake for an entrepreneur is to not create business plan for your startup oxygen equipment and supplies business.
The key benefit of writing a business plan is that it defines the game plan. The absence of an effective business plan inevitably results in impulsive leadership, choosing short-term opportunities at the expense of long-term benefits.
Before you make another business decision and before you start writing a business plan, you need to create a mission statement. Once you're satisfied with your oxygen equipment and supplies business's mission, it's time to initiate the hard work involved with writing the rest of your oxygen equipment and supplies company's business plan.
Consider the Competition
Prior to launching an oxygen equipment and supplies business in your town, it's a good idea to see how you will fit in the competitive landscape. Use the link below to find competitors near you. After following the link, enter your city, state and zip code to get a list of oxygen equipment and supplies businesses in your area.
If there's too much competition, it may be wise to consider starting the business in a less competitive marketplace.
Finding a Non-Competitive Business Mentor
If you are interested in starting an oxygen equipment and supplies business, it's essential that you speak with somebody who is already in the business. If you think your local competitors will give you advice, you're being overoptimistic. What's in it for them?
Fortunately, somebody who runs an oxygen equipment and supplies business outside of your community can be a great learning resource for you, once they realize that you are not going to directly compete with them in their community. In that case, the business owner may be more than happy to discuss the industry with you. In my experience, you may have to call ten business owners in order to find one who is willing to share his wisdom with you.
Where can you find an oxygen equipment and supplies business manager in another city who you can speak with?
It's not that hard. Just use the handy link below and enter in a random city/state or zipcode.
Advantages of an Oxygen Equipment & Supplies Business Purchase
On a percentage basis, more entrepreneurs intend to enter oxygen equipment and supplies business ownership through a startup than through a business purchase. But the harsh reality is that startup oxygen equipment and supplies businesses experience a high failure rate compared to entrepreneurs who buy existing oxygen equipment and supplies businesses.
There are a lot of factors that need to be considered in buying vs. starting a business. By buying a profitable oxygen equipment and supplies business, you'll shorten the amount of time it takes to achieve a return on your investment because you'll have the advantage of a proven operation and an existing customer base.
Consider Buying a Franchise
Your chances of achieving the entrepreneurial goal of growing your business are greatly increased if you go the franchising route and benefit from the prior work of others and their lessons learned.
Before starting an oxygen equipment and supplies business, you should determine whether franchise opportunities in your space might be the right move for you.
The link below gives you access to our franchise directory so you can see if there's a franchise opportunity for you. You might even find something that points you in a completely different direction.
These additional resources regarding getting started as an entrepreneur may be of interest to you.
If you currently own an oxygen equipment and supplies business, these resources will come in handy:
If you sell to oxygen equipment and supplies businesses, we've got better information for you elsewhere on our site. Try these resources instead:
If you are interested in starting a different kind of business, please browse our directory of guides below.