How to setup a successful Ayurveda Business?

Ayurveda, the ancient path to wellness, is getting popular day by day. The reason is that it is regarded as 100percent safe, with little side effects, and an intelligent way of medicine. This is the reason why many youngsters are getting attracted toward the Ayurveda as a means of earning as well. As per Dr Pooja Sabharwal who is a PhD in Ayurveda treatment, Ayurveda presents a multibillion-dollar global business opportunity. Things have changed over time and Ayurveda practice is truly world class with the introduction of standard operating procedure and set up a stringent quality standard for Ayurveda medicine.

Modern practice in Ayurveda is gaining ground and the modern hospital are also starting this practice. Dr G Geetha Krishnan started Ayurveda practice at Medanta and they have catered to over 16000 patients in last 5 years. Dr Geetha Krishnan says Ayurveda in modern medicine ecosystem bring much-required trust and trials. Continued training of Ayurveda practitioners on standard operating procedure for diagnosing and treatment and increased use of technology at practice are among factors which are eliminating trust deficit between doctors and patients.

Here is information on essential requisites needed for setting up a successful Ayurveda business.

Identify your target market

Identifying the target market is a requirement for any successful business. However, instead of thinking about how to market Ayurveda, you should think of effective ways to serve potential customers in the best possible way.  Instead of talking to every person you meet about Ayurveda, try to discover a specific group of people who can benefit more from this alternative field of medicine.

Combine sales with initial consultation

Once you have identified your target audience, make efforts to build up your website and make an online presence. Try incorporating your marketing strategies in the website. One example could be providing free initial consultation along with the first order.

NABH Accreditation 

NABH Accreditation Board is actually a constituent body which has been established to operate accreditation programmes for healthcare organisations. Thus, it is mandatory to receive NABH accrediting for running an Ayurveda clinic or healthcare service.

Insurance

Healthcare insurance is an evolving subject. However, Ayurveda finds little insurance coverage in the modern set up. Though there are some insurance programmes which are including plans for covering Ayurveda niche. Thus, it is always advisable to connect with a professional insurance firm to know more about Ayurveda insurance coverage.

Patents

Ayurvedic medicines have grown from just being antique medicines to a popular science. However, as per Indian laws, it is not easy to patent Ayurvedic Medicines. Thus, the Government of India has made amendments to the patent laws in order to protect the interests of patent medicines.

Conclusion

Ayurveda as a business opportunity has many dimensions which need to be explored. From traditional ointments being only used by Vaids in the earlier times to modern medicines being manufactured by big brands, the Ayurveda business has definitely come a long way. Ayurveda is a vast subject with ample of business ventures. In fact, with much improvement in the medicinal world, more and more people are getting attracted toward Ayurveda. These include a major percentage of those people who have got hired from the side effects of Allopathic medicines. Thus, venturing into the Ayurveda business is a trending concept nowadays. So, what are you waiting for? Make efforts and get your Ayurveda business all going.

This article has been authored by Ram N Kumar, CEO, NirogStreet.com