How to start a Home Health Medical Supply Store?


How to start a home health medical supply store business plan template

Are you interested in starting your own Home Health Medical Supply Store Business?

Starting a home health medical supply store can be a very rewarding and profitable business venture. There is a growing need for these types of stores, as more and more people are choosing to age in place. However, starting any business can be a daunting task. This blog will provide an overview of what you need to do to start a home health medical supply store business. As the baby boomer generation ages, there is an increasing demand for home health care products and services. Home health medical supply stores offer a wide range of products and services that can help people age in place. These stores typically sell products such as incontinence supplies, mobility aids, and wound care supplies. In addition, many home health medical supply stores also offer home health care services such as delivery and installation of medical equipment. Starting a home health medical supply store can be a very lucrative business venture. However, there are a few things you need to do to get started. First, you will need to obtain the appropriate licenses and permits from your state and local government. Next, you will need to find a suitable location for your store. Finally, you will need to stock your store with the products and services that your customers need.
Business Plan
If you're considering starting a home health medical supply store, the first step is to create a business plan. This will help you determine the feasibility of your business, set financial goals, and develop a path to success. Here are a few key elements to include in your business plan:
1. Executive summary: This is a brief overview of your business, including your goals and objectives.
2. Company description: Describe your business, including its history, products and services, and target market.
3. Market analysis: Research the home health medical supply industry and your specific niche within it. Identify your target market and describe your competition.
4. Sales and marketing strategy: Outline your plans for promoting and selling your products or services.
5. Financial projections: Estimate your start-up costs, income, expenses, and profitability.
A well-developed business plan is essential for any successful business venture. By taking the time to create a detailed plan, you'll increase your chances of success and avoid potential pitfalls along the way.
Target Market
If you're thinking about starting a home health medical supply store, then you'll need to identify your target market. Who will you be selling to? There are a few different options when it comes to targeting market for a home health medical supply store. You could focus on customers who are:
-People with chronic illnesses
-People with disabilities
Each of these groups has unique needs when it comes to medical supplies, so you'll need to make sure that you carry products that meet their needs. You should also consider what location would be most convenient for your target market. If you're targeting the elderly, then you might want to be located near retirement communities. If you're targeting people with chronic illnesses, then you might want to be located near hospitals or clinics. And if you're targeting people with disabilities, then you might want to be located near residential neighborhoods or public transportation. Once you've identified your target market, you can start to develop a marketing strategy that will reach them. You can use traditional advertising methods like print ads or billboards, or you can use more modern methods like online advertising or social media marketing. Whatever marketing strategy you choose,
Business Model
There are several business models that can be followed when starting a home health medical supply store. The first model is the brick and mortar model where the store is a physical location that customers can visit. The second model is the online model where the store is operated entirely online. The third model is a hybrid model where the store has both a physical location and an online presence. The brick and mortar model is the most traditional model for starting a business. In this model, the store is a physical location that customers can visit. The main advantage of this model is that it allows customers to see and touch the products before they purchase them. This can be a big advantage for customers who are looking for specific items or who need to ask questions about the products. The downside of this model is that it requires a lot of start-up capital to lease or purchase a retail space and to stock it with inventory. It also requires ongoing expenses such as rent, utilities, and insurance. The online model is becoming increasingly popular as more and more consumers shop online for items. In this model, the store is operated entirely online. Customers browse the store’s website and make purchases through the website. 
Competitive Landscape
When it comes to starting a home health medical supply store, it's important to understand the competitive landscape. This means taking a close look at the existing businesses in your market and understanding what they're doing well, and where there might be opportunities for you to fill a gap. One way to get a sense of the competition is to simply search online for "home health medical supply store" in your area. This will give you a good idea of the types of businesses that exist and how they're positioning themselves. You can also visit some of the stores in person to get a feel for their operations and see what they offer. This will help you understand what you need to do to be successful in this space. In general, you'll want to make sure that your store is well-stocked with the products that customers are looking for, and that your prices are competitive. You'll also want to have a strong marketing and advertising plan to get the word out about your business. By taking the time to understand the competitive landscape, you'll be in a much better position to launch a successful home health medical supply store.
Costs & Pricing Strategy
There are a few key things to think about when it comes to the costs of starting a home health medical store business. First, you'll need to secure a retail space, which will come with a monthly rent. You'll also need to stock your shelves with inventory, which will be your largest initial expense. Additionally, you'll need to factor in the cost of hiring staff, marketing your business, and other miscellaneous costs. When it comes to pricing your products, you'll need to strike a balance between being competitive and making a profit. A good starting point is to research the prices of similar businesses in your area. You'll also want to consider your target market and what they're willing to pay for your products and services. With careful planning and execution, you can create a pricing strategy that will help your home health medical store business thrive.
Forming a Legal Entity
If you want to start a Home Health Medical Supply Store business, you will need to form a legal entity. This will protect you from personal liability and help you raise money for your business. You can choose to form a sole proprietorship, partnership, limited liability company (LLC), or corporation. Each type of entity has its own pros and cons, so you will need to choose the one that is right for your business. If you are the only owner of your business, a sole proprietorship may be the best option. This type of business is easy to set up and you will not have to deal with much paperwork. However, sole proprietorships offer no personal liability protection, which means that you could be held responsible for debts incurred by your business. Partnerships are similar to sole proprietorships in that they are easy to set up and offer no personal liability protection. If you decide to form a partnership, you will need to choose a business partner who you can trust and who has complementary skills. It is important to have a written partnership agreement that outlines each partner's roles and responsibilities. A limited liability company (LLC) offers personal liability protection and is a good option for a small group of founders. 
Opening a Business Bank Account
When you’re ready to start your Home Health Medical Supply Store business, one of the first steps is to open a business bank account. This will help you keep your personal and business finances separate and will make it easier to track your expenses and income. To open a business bank account, you’ll need to have the following information and documents:
-Your business name and address
-Your Social Security number or Employer Identification Number (EIN)
-A list of the owners, officers, and directors of the company
-Articles of incorporation or a business license
-A voided check or deposit slip from the account you’ll be using for your business
Once you have all of the required information and documents, you can visit your local bank or credit union to open a business checking account.
Setting up Business Accounting
If you're starting a Home Health Medical Supply Store business, one of the first things you need to do is set up your business accounting. This will ensure that you're keeping track of your finances and that you're complying with any financial regulations that apply to your business. Here's a quick guide to setting up your business accounting:
1. Choose an accounting software. There are many different accounting software packages available, so do some research to find one that will suit your needs.
2. Set up your chart of accounts. This is a list of all the categories of income and expenditure that you will track in your accounting system.
3. Set up your bank account. You will need a business bank account to manage your finances effectively.
4. Keep track of your income and expenditure. Make sure you keep accurate records of all money coming in and going out of your business.
5. Prepare and file your tax return. Once a year, you will need to file a tax return for your business. Make sure you keep on top of this so that you don't miss the deadline
Setting up Business Insurance
As a business owner, it is important to protect your company with the proper insurance. When setting up a Home Health Medical Supply Store business, you will need to consider the following types of insurance:
-Product liability insurance: This will protect you in the event that a product you designed and printed causes injury or damage.
-Professional liability insurance: This will protect you in the event that a client suffers damages as a result of your work.
-Business property insurance: This will protect your equipment and premises in the event of damage or theft.
-Business interruption insurance: This will protect you in the event that your business has to stop operations due to a covered event.
-Employee dishonesty insurance: This will protect you in the event that an employee steals from your business. Speak with an insurance agent to determine which policies are right for your business
Setting up a Business Website
If you want to start a Home Health Medical Supply Store business, one of the first things you need to do is set up a website. This will be your online home base, where potential customers can learn more about your business and what you have to offer. There are a few key things you need to include on your website:
-An About page: This is where you can tell your story and give potential customers a sense of who you are and what you stand for.
-A portfolio: Showcase your best version on your website so that potential clients can see your work.
-A contact page: Make it easy for people to get in touch with you by including your email address and/or social media links.
-Pricing information: Let visitors know how much you charge for your services. By having a well-designed website, you’ll be able to attract more customers and grow your Home Health Medical Supply Store business
Obtaining the Necessary Permits
If you want to start a home health medical supply store, you will need to obtain the necessary permits. Depending on the state in which you live, you may need a license to sell medical supplies. You will also need to get a business permit and a resale license. You can get these permits by contacting your local city or county government office.
Setting up a Business Number or Appointment Setter
When you’re ready to start your Home Health Medical Supply Store business, one of the first things you need to do is set up a business phone number or an appointment setter. You can use a service like Google Voice to set up a business phone number for your Home Health Medical Supply Store business. Google Voice will give you a free business phone number that you can use to make and receive calls. Once you have a business phone number, you can start taking calls from potential customers. When you get a call, be sure to take down the customer’s name, contact information, and what they need. Once you have this information, you can give the customer a call back to discuss the project in more detail and give them a quote.

Supplies and Equipment

Starting a home health medical supply store requires a wide variety of medical equipment and supplies. When choosing what to stock, it’s important to research the needs of your target market and make sure you have the necessary items in inventory. Look into local and online distributors to get the best deals on bulk purchases, and determine how to store and manage your supplies efficiently.

Sourcing and Procurement

Sourcing the right products for your home health medical supply store can take some time. Research potential vendors and compare prices for the best deal. Make sure that all products are safe, high quality, and meet all applicable regulations. Establish relationships with reliable distributors and be sure to keep track of invoices, shipping records, payment terms, and other important details.


When starting a home health medical supply store, it’s important to hire qualified personnel who understand your business model. Create job descriptions that clearly outline the roles and responsibilities each position requires. Consider conducting background checks on potential employees, as well as providing training on customer service and safety protocols.

Marketing and Promotion

Developing an effective marketing strategy is essential for the success of any business. Use both traditional advertising methods such as print ads and radio spots as well as digital marketing tactics such as email campaigns, social media posts, and website optimization. Ensure that customers are well informed about the services you offer, as well as any special discounts or promotions you may have available.


Having an online presence is a must for any modern business today, especially for a home health medical supply store. Invest in software solutions for inventory tracking, customer management, data analysis, order fulfillment, payment processing, etc. Consider setting up an e-commerce website so customers can browse your products online from anywhere at any time.

Financial Planning

Careful financial planning is key when starting a home health medical supply store. Establish a budget that outlines expected income and expenses over time. Research potential investments to maximize profits while mitigating risks associated with investments such as market volatility or interest rate changes. Make sure to also consider taxes when calculating profits/losses so there are no surprises down the line.

Risk Management

Managing risks is an important part of running a successful business. Establish safety protocols to protect both employees and customers from potential hazards associated with medical supplies/equipment such as chemicals or sharp objects. Also make sure you understand applicable laws/regulations regarding operation of a home health medical supply store so you can stay compliant with all relevant authorities.

Growth Strategies

Developing growth strategies is critical for long-term success in any business venture. Think about ways you can expand your reach such as diversifying into new markets or introducing new products/services to existing customers. Consider scaling operations by investing in technology or outsourcing certain tasks like accounting or payroll processing so you can focus more time on growing your business.

Resources and Support

There are many resources available to help entrepreneurs start their own businesses, including mentorships or consulting services from experienced professionals in the industry. Networking with other business owners can also be beneficial in gaining valuable advice or insight into best practices for running a successful home health medical supply store.
Assuming you have read and followed the advice in the previous sections, by now you should have a pretty good idea of what it takes to start a home health medical supply store business. While there is certainly a lot to think about and consider, it is definitely possible to start and operate a successful business in this industry. Just be sure to do your research, put together a solid business plan, and find the right location for your store. With a little hard work and dedication, you can be on your way to owning and operating a successful home health medical supply store business.

Why write a business plan?

A business plan is a critical tool for businesses and startups for a number of reasons:
  • Business Plans can help to articulate and flesh out the business’s goals and objectives. This can be beneficial not only for the business owner, but also for potential investors or partners
  • Business Plans can serve as a roadmap for the business, helping to keep it on track and on target. This is especially important for businesses that are growing and evolving, as it can be easy to get sidetracked without a clear plan in place.
  • Business plans can be a valuable tool for communicating the business’s vision to employees, customers, and other key stakeholders.
  • Business plans are one of the most affordable and straightforward ways of ensuring your business is successful.
  • Business plans allow you to understand your competition better to critically analyze your unique business proposition and differentiate yourself from the market.
  • Business Plans allow you to better understand your customer. Conducting a customer analysis is essential to create better products and services and market more effectively.
  • Business Plans allow you to determine the financial needs of the business leading to a better understanding of how much capital is needed to start the business and how much fundraising is needed.
  • Business Plans allow you to put your business model in words and analyze it further to improve revenues or fill the holes in your strategy.
  • Business plans allow you to attract investors and partners into the business as they can read an explanation about the business.
  • Business plans allow you to position your brand by understanding your company’s role in the marketplace.
  • Business Plans allow you to uncover new opportunities by undergoing the process of brainstorming while drafting your business plan which allows you to see your business in a new light. This allows you to come up with new ideas for products/services, business and marketing strategies.
  • Business Plans allow you to access the growth and success of your business by comparing actual operational results versus the forecasts and assumptions in your business plan. This allows you to update your business plan to a business growth plan and ensure the long-term success and survival of your business.

Business Plan Content


Many people struggle with drafting a business plan and it is necessary to ensure all important sections are present in a business plan:
  1. Executive Summary
  2. Company Overview
  3. Industry Analysis
  4. Consumer Analysis
  5. Competitor Analysis & Advantages
  6. Marketing Strategies & Plan
  7. Plan of Action
  8. Management Team

The financial forecast template is an extensive Microsoft Excel sheet with Sheets on Required Start-up Capital, Salary & Wage Plans, 5-year Income Statement, 5-year Cash-Flow Statement, 5-Year Balance Sheet, 5-Year Financial Highlights and other accounting statements that would cost in excess of £1000 if obtained by an accountant.

The financial forecast has been excluded from the business plan template. If you’d like to receive the financial forecast template for your start-up, please contact us at . Our consultants will be happy to discuss your business plan and provide you with the financial forecast template to accompany your business plan.

Instructions for the Business Plan Template

To complete your perfect Home Health Medical Supply Store business plan, fill out the form below and download our Home Health Medical Supply Store business plan template. The template is a word document that can be edited to include information about your Home Health Medical Supply Store business. The document contains instructions to complete the business plan and will go over all sections of the plan. Instructions are given in the document in red font and some tips are also included in blue font. The free template includes all sections excluding the financial forecast. If you need any additional help with drafting your business plan from our business plan template, please set up a complimentary 30-minute consultation with one of our consultants.

Ongoing Business Planning


With the growth of your business, your initial goals and plan is bound to change. To ensure the continued growth and success of your business, it is necessary to periodically update your business plan. Your business plan will convert to a business growth plan with versions that are updated every quarter/year. Avvale Consulting recommends that you update your business plan every few months and practice this as a process. Your business is also more likely to grow if you access your performance regularly against your business plans and reassess targets for business growth plans.


Want a Bespoke Business Plan for your Home Health Medical Supply Store Business?

Our Expertise


Avvale Consulting has extensive experience working with companies in many sectors including the Home Health Medical Supply Store industry. You can avail a free 30-minute business consultation to ask any questions you have about starting your Home Health Medical Supply Store business. We would also be happy to create a bespoke Home Health Medical Supply Store business plan for your Home Health Medical Supply Store business including a 5-year financial forecast to ensure the success of your Home Health Medical Supply Store business and raise capital from investors to start your Home Health Medical Supply Store business. This will include high-value consulting hours with our consultants and multiple value-added products such as investor lists and Angel Investor introductions.


About Us


Avvale Consulting is a leading startup business consulting firm based in London, United Kingdom. Our consultants have years of experience working with startups and have worked with over 300 startups from all around the world. Our team has thousands of business plans, pitch decks and other investment documents for startups leading to over $100 Million raised from various sources. Our business plan templates are the combination of years of startup fundraising and operational experience and can be easily completed by a business owner regardless of their business stage or expertise. So, whether you are a budding entrepreneur or a veteran businessman, download our business plan template and get started on your business growth journey today.