Bringing to you right from our Co-founder’s desk, an insight into the Oxygen business. For a venture which seems to be quite profitable and in high demand in these times, let’s have an expert’s point of view towards the topic.
Business’ Fundamental Purpose
Whenever we set out to start a business, any business, our main focus is to grow and earn profits. At the point when we choose to get into the business, our fundamental arrangement behind picking any business ought to rely upon its market potential. Additionally, considering the current interest for the product in the market is generally important.
Now talking about the Oxygen business, given the current situation our country is facing, it surely seems to be a profitable avenue. Besides, a business can’t be set up effectively and expected to grow without having a business plan. Don’t just trust my words for it. Go through this series and decide for yourself!
We all know that due to the abrupt outburst of the Covid-19 pandemic, our healthcare system has been tirelessly working to battle the crisis. It has also led to a colossal demand for oxygen cylinders in the various hospitals against the limited supply. This makes the oxygen business one of the highest profit-generating business plans for startups and other companies in the current situation.
To start with the Oxygen business, an oxygen plant needs to be set up. The oxygen plant is industrial equipment that is utilized for producing pure oxygen for industrial and medical purposes. Since we are not here to discuss the admin aspects of the business, let’s talk about the business plan.
Why Choose Oxygen Business?
Since COVID-19 is a respiratory syndrome, it has been attacking individuals and creating breathing problems. We have seen the toll of people it has taken in the first wave during the year 2020. As if the first wave wasn’t dangerous enough, it has been observed that the second wave is even more lethal.
Along with the patients who regularly need oxygen cylinders, the pandemic has added to its demand. It is seen that hospitals, clinics, or Covid facility centers are requesting oxygen cylinders. But there is a very limited supply. This is why we have to resort to seeking help from other countries, which have been generous enough to help during these trying times.
Now imagine investing in the oxygen plant in this situation. You will be instrumental in helping so many people possibly saving their lives. Not only that, but this business plan will also help to generate huge profits for you as the business owner.
Is Oxygen Business Successful?
To live on this earth, oxygen is a biological prerequisite for every individual. The present life-threatening virus, however, has caused decreased oxygen levels for the people contracting it. A majority of the oxygen supply presently is being diverted to help cope up with these unforeseen needs.
Individuals who have been suffering from asthma, diabetes, and other breathing-related issues are facing a ton of problems. There’s also a prevalent disease called Chronic Obstructive Pulmonary Disease (COPD) in the geriatric population. Out of the 962 million global geriatric populations, as reported by the UN in 2017, there are 251 million COPD cases according to the Global Burden of Disease study. People suffering from COPD also require a supply of oxygen.
As we discussed above, the pandemic and the regular need for oxygen has created a huge demand for it. And on the other side, the supply is quite limited and not enough to meet the demand. If one chooses to initiate Oxygen plant business in these critical times, with an organized business plan, there’s a great opportunity to generate a successful venture and make decent profits along the way.
At Mantraa, we offer a combination of technical and practical expertise for end-to-end and custom-based services in Corporate Finance, CFO services, and Risk Advisory Services. With thorough technical knowledge and experience of the ins and outs of the financial world, we are well-equipped to assist you with productive business plan consulting. Feel free to connect with us and allow us to serve you!
Here we have just covered the scope of growth and profitability of the Oxygen Business amongst the Covid pandemic. And you must be wondering what happens when all of this is over? Will it still be a good return generating investment then?
It’s a wonderful query which we plan to answer in the upcoming edition. Stay tuned!