How to start a clinic business in India?

It is pretty evident to take loans for business, and this has been the trend followed by businessmen who cannot afford to start business without any loan. The main reason for this is, the businesses are so volatile that you don't know what will happen and when? Take the example of the current pandemic. Such was an impact that lacs of crore rupees got stuck everywhere. Suddenly the world came to a stand-still, and there was no money rolling in the market. 

Those who have taken small business loan toiled. Thankfully, the government has launched many loan schemes in its kitty, and one can revive himself and his business. Different types of loans will have different criteria, and once you are eligible, you can apply for loans like MSME loan, business loan, etc. Though MSME is also a business loan, its standards are different.

Preparation of a business plan: 

If a doctor wants to start his clinic, the process is stretching and long. A proper plan and execution will be the key factors, and determination and hard work not have deviated at any point in time. All the requirements like equipment, medical staff, and infrastructure must be documented. For availing a business loan, the doctor has to submit a project report too. The bankers will evaluate the clinic business's information and pros and cons before sanctioning the loan amount. The business loan for doctors will also have a subsidy, so some percentage of the loan may be waived. 

Suppose a doctor has a strong plan chalked out that can build trust between the bankers and him. Also, only starting the clinic will not help him to generate revenue. People must be aware of the start-up, and for this, one has to apply proper marketing strategy to reach maximum people. Sort of advertising, promotions will have to be carried out by a professional team. 

Even for a small business loan, a doctor must plan to repay it as early as possible. This can lead him to leap higher and grow the clinic business. A doctor is directly related to a patient's health, and therefore, a provision of unforeseen, serious situations also must be considered in the report. This may detail how that doctor is going to deal with such scenarios. 

Get the finance approved quickly:

Once the doctor has submitted the project, he needs to assure bankers about his business success and his creditability to grow the business. Many financial services other than banking sectors also provide customized products to doctors and medical professionals. Unsecured business loans for doctors can b availed from Ziploan go up to Rs. 7.5 lacs.

There is another option of an MSME loan. MSME is nothing but the Micro, Small, and Medium Enterprises Development Act 2006. These three categories are covered in the MSME loan scheme. The MSME business loan gives one the following advantages – 

• Understanding of urgent requirements of loans by lenders is exhibited. For the loans borrowed less than 7.5 lacs, the procedure is made quite simple and hassle-free from Ziploan. 
• With the availability of online applications, it has become much more hassle-free as it avoids the collation and submission of documents; instead, you can submit the soft copies. 
• Entrepreneurs can get the MSME loan at affordable business loan interest rates. However, the interest rate is calculated considering many parameters like location, income, loan payable, etc. 
• You can evaluate yourself for eligibility with the help of a business loan eligibility calculator, and also, a list of documents is neatly explained. If document submission goes wrong, you are intimated and followed up for fulfillment. 
• Along with this, there are some other schemes to help India's start-up industries, and the government distributes such loans through banks and NBFCs. E.g., the Pradhan Mantri Mudra Yojana – PMMY scheme that provides collateral-free MSME to the small businesses. 

Lastly, the start-up clinic business in India involves many layers bound together. An aspirant doctor has to study how he can prove his worth to society by gaining an exemplary reputation and performing the duty that is expected from a good doctor.

Rashmi Sharma