A medical waste disposal company is a business that disposes of medical waste. Medical waste essentially comprises wastes generated in the hospitals, laboratories, clinics, diagnostic centers et al. This waste can be harmful to humans if not properly disposed of.

A report recently released by IBISWorld shows that there are 160 medical waste disposal services in the USA as of 2022, an increase of 1.8 percent from 2022. The industry rakes in $4 billion annually with an employee strength of 14,100 people.

The number of businesses in the medical waste disposal services industry in the US has grown 1.8 percent per year on average over the five years between 2017 – 2022. California (103,000,000 businesses), Texas (91,000,000 businesses), and Florida (43,000,000 businesses) are the States with the greatest number of Medical Waste Disposal businesses in the United States of America.

Steps on How to Write a Medical Waste Disposal Business Plan

  1. Executive Summary

Medic Plus™ Medical Waste Disposal, Inc. is an American-based and licensed medical waste disposal company that will be located in the heart of Colorado Springs, Colorado. We will initially be involved in the collection and disposal of medical waste but will in the nearest future engage in the recycling of medical waste.

We are set to service a wide range of clientele in and around Colorado Springs, Colorado. Julius Johnson is the founder and CEO of Medic Plus™ Medical Waste Disposal, Inc.

  1. Company Profile

a. Our Products and Services

Medic Plus™ Medical Waste Disposal, Inc. will be involved in;

  • Medical waste collection
  • Medical waste treatment and disposal
  • Returns and recall management.
b. Nature of the Business

Our medical waste disposal company will operate the business-to-business model.

c. The Industry

Medic Plus™ Medical Waste Disposal, Inc. will operate under the medical waste disposal services industry.

d. Mission Statement

Our mission is to partner with hospitals and medical facilities, nursing homes, maternity homes, medical laboratories, pharmacies, dental clinics, optical clinics, Botox clinics, and blood banks to become their preferred business partner when it comes to the disposal of their medical waste.

e. Vision Statement

Our vision is to be listed as the top 3 medical waste disposal companies in the United States of America.

f. Our Tagline (Slogan)

Medic Plus™ Medical Waste Disposal, Inc. – disposing of your medical waste with the uttermost professionalism!

g. Legal Structure of the Business (LLC, C Corp, S Corp, LLP)

Medic Plus™ Medical Waste Disposal, Inc. will be formed as a Limited Liability Company (LLC).

h. Our Organizational Structure
  • Chief Operating Officer (Owner)
  • Admin and HR Manager
  • Transport and Logistics Manager
  • Marketing and Sales Executive (Business Developer)
  • Accountant
  • Waste Truck Drivers
  • Customer Service Officer (Receptionist).
i. Ownership/Shareholder Structure and Board Members
  • Julius Johnson (Owner and Chairman / Chief Executive Officer) 52 Percent Shares
  • Tim Sydney (Board Member) 18 Percent Shares
  • Frank Robert (Board Member) 10 Percent Shares
  • Romanus Hyacinthe (Board Member) 10 Percent Shares
  • Lara Torres (Board Member and Sectary) 10 Percent Shares.
  1. SWOT Analysis

a. Strength
  • Excellent operational history
  • Attention to detail.
  • Accurate estimates with no hidden costs.
  • Experience and trained professionals.
  • Excellent customer testimonials.
  • Reliable and efficient waste trucks and service.
b. Weakness
  • Not enough existing clientele to run at full capacity immediately
  • The owner is new to large scale marketing
  • We will need a loan to purchase brand new medical waste trucks
  • Lack of economies of scale.
c. Opportunities
  • A growing number of medical facilities generate medical waste.
  • Favorable government policies
  • Build upon existing clientele
  • Online market, new services, new technology, and of course the opening of new markets.
  • An increase in the services offered by hospitals due to the current coronavirus pandemic hence more medical waste will be generated.
i. How Big is the Industry?

Beyond every reasonable that, it will be safe to say the medical waste disposal industry is a big industry and the industry rakes in $4 billion annually in the United States of America.

ii. Is the Industry Growing or Declining?

The medical waste disposal industry is growing because medical practitioners, clinics, and hospitals et al. cannot operate their business without generating waste and they have to dispose of such waste professionally. As a matter of fact, in the United States, the medical waste disposal industry has grown 1.8 percent per year on average over the five years between 2017 – 2022.

iii. What are the Future Trends in the Industry

The future trends when it comes to medical waste disposal companies will revolve around technology. Software that is meant to predict what customers want from a medical waste disposal company and also most medical waste disposal companies will most likely start operating their own medical waste recycling plant.

iv. Are There Existing Niches in the Industry?

No, there are no existing niche ideas when it comes to medical waste disposal.

v. Can You Sell a Franchise of your Business in the Future?

Medic Plus™ Medical Waste Disposal, Inc. has plans to sell franchises in the nearest future and we will target major cities with thriving markets in the United States of America.

d. Threats
  • The arrival of new medical waste disposal service companies or even general waste management companies within our market space
  • Unfavorable government policy and regulations
  • Steady wage expenses
  • Economic uncertainty
  • Liability problems
i. Who are the Major Competitors?
  • MedPro Waste Disposal.
  • BioServeUSA
  • BioMedical Waste Solutions
  • Stericycle Inc.
  • Sharps Compliance Inc
  • Waste Management (WM)
  • Citiwaste
  • Sanpro Waste
  • PureWay Total Compliance
  • Medasend
  • Go Green Solutions, LLC
  • Total Med Transportation Corp
  • Advowaste Medical Services
  • Daniels Health
  • MedAssure Services.
ii. Is There a Franchise for Medical waste disposal company?

Yes, there are franchise opportunities for medical waste disposal companies. Here are 20 of them;

  • Bio-One (Total investment: $75,500 – $85,150)
  • Stericycle
  • Rumpke Consolidated Companies Inc.
  • Advanced Disposal Services LLC
  • Clean Harbors
  • Waste Management Inc
  • Citiwaste
  • Sanpro Waste
  • MedPro Waste Disposal
  • Waste Connections Inc
  • Progressive Waste Solutions Ltd
  • Sharps Compliance
  • BioServeUSA
  • BioMedical Waste Solutions
  • PureWay Total Compliance.
iii. Are There Policies, Regulations, or Zoning Laws Affecting Medical waste disposal company?

Medical waste is primarily regulated by state environmental and health departments. EPA has not had authority, specifically for medical waste, since the Medical Waste Tracking Act (MWTA) of 1988 expired in 1991. It is important to contact your state environmental program first when disposing of medical waste.

Contact your state environmental protection agency and your state health agency for more information regarding your state’s regulations on medical waste.

Other federal agencies have regulations regarding medical waste. These agencies include the Centers for Disease Control (CDC), Occupational Safety and Health Administration (OSHA), U.S. Food and Drug Administration (FDA), and potentially others.

  1. Marketing Plan

a. Who is Your Target Audience?

i. Age Range

Our target market comprises businesses that generate medical wastes such as hospitals and medical facilities, nursing homes, maternity homes, medical laboratories, pharmacies, dental clinics, optical clinics, Botox clinics, and blood banks.

ii. Level of Educational

We don’t have any restrictions on the level of education of our clients.

iii. Income Level

There is no cap on their income level.

iv. Ethnicity

There is no restriction when it comes to the ethnicity of the people we are looking forward to doing business with.

v. Language

There is no restriction when it comes to the language spoken by the people we are looking forward to doing business with.

vi. Geographical Location

Anybody from any geographical location is free to contract the disposal of their medical waste to us as long as they are domiciled within the locations that we cover.

vii. Lifestyle

Medic Plus™ Medical Waste Disposal, Inc. will not restrict any customer from hiring our services based on their lifestyle, culture, or race.

b. Advertising and Promotion Strategies
  • Brand All Our Delivery Vans and Trucks.
  • Tap Into Text Marketing.
  • Make Use of Bill Boards.
  • Share Your Events in Local Groups and Pages.
  • Turn Your Social Media Channels into a Resource
  • Develop Your Business Directory Profiles
  • Build Relationships with players in the health care industry.
i. Traditional Marketing Strategies
  • Marketing through Direct Mail.
  • Print Media Marketing – Newspapers & Magazines.
  • Broadcast Marketing -Television & Radio Channels.
  • OOH, Marketing – Public Transits like Buses and Trains, Billboards, Street shows, and Cabs.
  • Leverage direct sales, direct mail (postcards, brochures, letters, fliers), print advertising (magazines, newspapers, coupon books, billboards), referral (also known as word-of-mouth marketing), radio, and television.
ii. Digital Marketing Strategies
  • Social Media Marketing Platforms.
  • Influencer Marketing.
  • Email Marketing.
  • Content Marketing.
  • Search Engine Optimization (SEO) Marketing.
  • Affiliate Marketing
  • Mobile Marketing.
iii. Social Media Marketing Plan
  • Start using chatbots.
  • Create a personalized experience for our customers.
  • Create an efficient content marketing strategy.
  • Create a community for our target market and potential target market.
  • Gear up our profiles with a diverse content strategy.
  • Use brand advocates.
  • Create profiles on the relevant social media channels.
  • Run cross-channel campaigns.
c. Pricing Strategy

When working out our pricing strategy, Medic Plus™ Medical Waste Disposal, Inc. will make sure it covers profits, insurance, premium, license, economy or value, and full package. In all our pricing strategy will reflect;

  • Cost-Based Pricing
  • Value-Based Pricing
  • Competition-Based Pricing.
  1. Sales and Distribution Plan

a. Sales Channels

Our channel sales strategy will involve using partners and third parties—such as referral partners, affiliate partners, strategic alliances in the health care industry, and freelancers (medical reps) to help refer customers to us.

Medic Plus™ Medical Waste Disposal, Inc. will also leverage the 4 Ps of marketing which are place, price, product, and promotion. By carefully integrating all these marketing strategies into a marketing mix, we can have a visible, in-demand service that is competitively priced.

b. Inventory Strategy

The fact that we will need to stock up our warehouse with different types of waste bags, gloves, facemasks, sanitizer, and cleaning chemicals et al means that Medic Plus™ Medical Waste Disposal, Inc. will operate an inventory strategy that is based on a day-to-day methodology for ordering, maintaining and processing items in our warehouse.

We will develop our strategy with the same thoroughness and attention to detail as we would if we were creating an overall strategy for the business.

c. Payment Options for Customers

Here are the payment options that Medic Plus™ Medical Waste Disposal, Inc. will make available to her clients;

  • Payment via bank transfer
  • Payment with cash
  • Payment via credit cards
  • Payment via online bank transfer
  • Payment via check
  • Payment via mobile money transfer
  • Payment via bank draft
d. Return Policy, Incentives, and Guarantees

Due to the nature of our business, Medic Plus™ Medical Waste Disposal, Inc. will operate a no refund policy. We will ensure that we give incentives to our loyal customers regularly and also give them the necessary guarantee they need.

e. Customer Support Strategy

Our customer support strategy will involve seeking customer feedback. This will help us provide excellent customer service to our clients and investors, it will help us to first understand their needs, experiences, and pain points.

Regularly, we will work towards strengthening our Customer Service Team and also Leverage Multi-Channel Servicing as part of our customer support strategy.

  1. Operational Plan

We plan to expand our revenue by 45 percent in the second year and the plan will include a marketing, sales, and operations component. The operations component of the plan would include attracting partnership and retainers deals that will enable the firm to boost our sales and to support revenue growth.

a. What Happens During a Typical Day at a Medical Waste Disposal Service Company Business?
  • The business is open for the day’s work
  • Medical waste trucks are deployed to the field for the day’s collections and disposal
  • Scheduled maintenance and servicing of the waste collection trucks are carried out
  • Marketing/website upkeep
  • The business is closed for the day.
b. Production Process

The nature of medical waste disposal companies doesn’t give room for a production process.

c. Service Procedure

The service procedure of a medical waste disposal company starts with a customer (medical practitioners, clinics, hospitals et al) requesting their medical waste to be disposed of.

Once the request is gotten, it will be processed and the medical waste truck will be deployed to collect and dispose of the medical waste.

d. The Supply Chain

Medic Plus™ Medical Waste Disposal, Inc. will rely on key players in the healthcare services industry to supply us with different types of waste bags, gloves, facemasks, sanitizer, cleaning chemicals et al. So also, we have been able to establish business relationships with medical and dental practitioners, clinics and hospitals et al to be their major medical waste collection and disposal company.

e. Sources of Income

Medic Plus™ Medical Waste Disposal, Inc. makes money from selling;

  • Medical waste collection
  • Medical waste treatment and disposal
  • Returns and recall management.
  1. Financial Plan

a. Amount Needed to Start your Medical waste disposal service company?

Medic Plus™ Medical Waste Disposal, Inc. would need an estimate of $150,000 to successfully set up our medical waste disposal company in the United States of America. Please note that this amount includes the salaries of all our staff for the first month of operation.

b. What are the Cost Involved?
  • Business Registration Fees – $750.
  • Legal expenses for obtaining licenses and permits – $3,300.
  • Marketing, Branding and Promotions – $2,000.
  • Business Consultant Fee – $2,500.
  • Insurance – $12,400.
  • Rent/Lease – $50,000.
  • Other start-up expenses include commercial satellite TV subscriptions, stationery ($500), and phone and utility deposits ($1,800).
  • Operational Cost (salaries of employees, payments of bills et al) – $30,000
  • Purchasing of waste collection and disposal truck – $35,000
  • Store Equipment (cash register, security, ventilation, signage) – $1,750
  • Furnishing and equipping the warehouse facility – $10,000
  • Website: $600
  • Miscellaneous: $3,000
c. Do You Need to Build a Facility? If YES, How Much will it cost?

Medic Plus™ Medical Waste Disposal, Inc. will not build a new facility for our medical waste company; we intend to start with a long-term lease for a standard facility and after 5 years, we will start the process of acquiring our facility and medical waste recycling plant in a centralized location in the city.

d. What are the Ongoing Expenses of Running a Medical waste disposal company?
  • Utility bills (gas, internet subscriptions, phone bills, signage and software renewal fees et al)
  • Salaries of employees
  • Trucks and vans maintenance
  • Insurance
  • Marketing costs
e. What is the Average Salary of your Staff?
  • Chief Operating Officer (Owner) – $68,000 Per Year
  • Admin and HR Manager – $48,000 Per Year
  • Transport and Logistics Manager – $48,000 Per Year
  • Marketing and Sales Executive (Business Developer) – $38,000 Per Year
  • Accountant $38,000 Per Year
  • Waste Truck Drivers – $36,800 Per Year
  • Customer Service Officer (Receptionist) – $26,100 Per Year
f. How Do You Get Funding to Start a Medical Waste Disposal Company.
  • Raising money from personal savings and sale of personal stocks and properties
  • Raising money from investors and business partners
  • Sell shares to interested investors
  • Applying for a loan from your bank/banks
  • Pitching your business idea and applying for business grants and seed funding from the government, donor organizations, and angel investors
  • Source for soft loans from your family members and friends.
  1. Financial Projection

a. How Much Should You Charge for your Product/Service?

Generally, most medical waste disposal companies charge based on the volume and distance of medical waste to be disposed of. Depending on volume, a monthly pickup will often cost less than a weekly pickup. Volume can significantly increase or decrease the per-box rate. On average, a medical facility will ship about two boxes a month—resulting in approximately $40 to $80 per month for medical-related waste disposal.

b. Sales Forecast?
  • First Fiscal Year (FY1): $250,000
  • Second Fiscal Year (FY2): $400,000
  • Third Fiscal Year (FY3): $650,000
c. Estimated Profit You Will Make a Year?
  • First Fiscal Year (FY1) (Profit After Tax): $100,000
  • Second Fiscal Year (FY2) (Profit After Tax): $220,000
  • Third Fiscal Year (FY3) (Profit After Tax): $420,000
d. Profit Margin of a Medical waste disposal service company Product/Service

The ideal profit margin we hope to make at Medic Plus™ Medical Waste Disposal, Inc. will be between 35 percent and 65 percent.

  1. Growth Plan

a. How We intend to grow and expand? By opening more retail outlets/offices or selling a franchise?

Medic Plus™ Medical Waste Disposal, Inc. will grow our medical waste disposal service company by first expanding our coverage to key cities in the United States of America within the first five years of establishing the business and then will start selling franchise from the sixth year.

b. Where We intend to expand to and why?

Medic Plus™ Medical Waste Disposal, Inc. plan to expand first to Warwick, Rhode Island, Mount Pleasant, South Carolina, Los Angeles, California, San Antonio, Texas, Cambridge, Massachusetts, Chattanooga, Tennessee, Lewiston, Maine, Grand Rapids, Michigan, and Chandler, Arizona.

The reason we intend to expand to these locations is the fact that available statistics show that the cities listed above have the most thriving market for medical waste disposal in the United States.

  1. Exit Plan

The founder of Medic Plus™ Medical Waste Disposal, Inc. plans to exit the business via family succession. We have placed structure and processes in place that will help us achieve our plan of successfully transferring the business from one family member to another and from one generation to another without hitches.