Start a medical tourism travel agency
Travel agencies are a profitable business as long as they are managed. Tourism services are very diversified, but there are still some niche markets that are not covered. One of them is represented by medical tourism.
The concept of medical tourism is relatively new in the Spanish market and requires the treatment of foreign patients with various conditions in private institutions or hospitals in Spain.
According to the press release of the Ministry of Tourism, in 2014, the income from medical tourism would be about 250 million euros and the number of tourists visiting our country for this purpose was approximately 60,000.
The travel agencies are one of the businesses with more profitability, but with a correct planning and management of its administration. Likewise, tourism services are a diverse sector that offers various spaces and market niches that are not covered and that open up possibilities for entrepreneurship. One of them is represented by medical tourism.
Here you can see more business ideas about tourism
That’s why if you like the world of tourism, you are looking for a place to invest and become your own boss, this is the business idea you can’t pass up. Stay until the end so that you know this idea in depth and how you can start it.
The most requested specialties by potential clients in medical tourism are:
Stomatology.
Cosmetic surgery;
Fertility treatment.
Ophthalmology.
Cancer treatment.
Treatment of obesity.
Entrepreneurship in the medical tourism business
As we mentioned, this is an activity that can be initiated from home, where you will only need a computer with a good Internet connection and telephone service to be able to be in contact with clients and professionals who offer the service, where we will be communicating with private hospitals, other travel agencies with different approaches, among others.
During the start-up of this profitable business, you could focus on health care providers that have offices in your area of residence, so it will be easier to contact them and optimize your moving costs in these places.
How much will I earn with this business? In terms of income, the profits will be achieved from a commission that is negotiated with the other partners in relation, and that will be obtained for each of the clients that access the medical tourism service.
Operation of a medical tourism business
The concept of medical tourism is relatively new in the Spanish market and requires the treatment of foreign patients with various conditions in private institutions or hospitals in Spain. In this sense, the specialties that are most required in this field are: stomatology, cosmetic surgery, fertility treatment, ophthalmology, cancer treatment and obesity treatment.
This business can be started at home, with an online portal that presents potential clients with the benefits they would have if they chose a medical stay in Spain. In addition, the website will have to present all its partners: private hospitals and travel agencies through which you will purchase the medical stay.
Steps to start a medical tourism business
This business can be started at home, with an online portal that presents potential clients with the benefits they would have if they chose a medical stay in Spain. In addition, the website will have to present all its partners: private hospitals and travel agencies through which you will purchase the medical stay.
During the start-up of this profitable business, you could focus on health care providers that have offices in your area of residence, so it will be easier to contact them and optimize your moving costs in these places.
In terms of income, your profit will be represented by a commission that you will negotiate, and that will be given to you for each client that accesses the medical tourism service.
Requirements for medical tourism
First you have to study the market in order to find the best doctors in the above-mentioned niches and promote various offers that satisfy the customer’s preferences.
How much will you need to invest in your business? The investment is small, and can be even less than 1,000 euros. This amount of money will be directed to the creation of a site or web page and the corresponding expenses, as well as to the promotion of the business and travel for negotiations with the partners.
Tips for a travel agency in medical tourism
When opening a business like this, where competition is strong in different areas, it is advisable to carry out a market study that allows you to identify shortcomings in the established businesses in relation to
with the needs and suggestions of your clients, as well as strengths you could include in your management, especially if you have no experience in this market.
Make sure you prioritize communication with your customers and offer solutions, if it is in your hands, in the shortest time possible, because nowadays we always choose companies whose treatment is cordial and friendly, where we feel like people and not just sources of money. Promote your business through the digital and physical media, this will help you to be known by the different types of public that your business covers, and thus, you will be able to obtain greater possibilities of profits.
Weaknesses: it is extremely important to take into account that it requires minimum medical knowledge and knowledge of the services and tourism intermediaries. In addition, since you are a business in the tourism sector, it is necessary to know an international language, preferably English. You will have to travel long distances to make appointments with potential business partners.
Pros: One of the best things about this business idea is that it is a home-based business. And communication with potential customers is done by phone or email. So it is a business based more on online activity, which does not involve large monthly expenses with a space or other employees.
Success stories in medical tourism
The travel agencies are characterized by hosting answers to a large number of needs that arise in this sector when making a trip, which is why not all are focused on the same areas, as is the case of our medical tourism travel agency. However, there are common factors that are repeated in them and make them leaders in the sector and a point of reference for those who are undertaking in the same field.
That is why we have decided to tell you which are the most important travel agency franchises in the market, so you can be inspired to create an innovative and new agency for your clients.