MEDAlert® - Personal Medical Information (Interview with Product Developer)
Why is your business model successful?
Innovative Software, LLC developed a very simple business model for our MEDAlert® Business which we feel is the reason it has been so successful. By making the process of getting started simple along with a low financial one time investment it allows individuals with an entrepreneurial spirit to focus their passion on the business. This approach ensures that new business owners are not discouraged by high costs and legal aspects of a franchise since what we offer is the opportunity for someone to own their own business 100%. We simply provide the startup training plus supporting materials and then offer the product wholesale to business owners, allowing them to be more profitable with no ongoing fees which are often found in other business arrangements. Feedback from numerous business owners confirms that they like our business model since they own their business and have full control over how they choose to operate. Business owners also control the product and service pricing to setup the unique MEDAlert® Personal Medical Information device for their clients. We provide out of the box materials which may be used to quickly begin offering services and earning a profit however business owners have the ability to modify the materials however they feel is appropriate for their business.
What kind of training and support is available for new business owners?
New business owners receive a self-paced training guide which provides step by step instructions on setting up the business, marketing and offering services to the public. No experience is necessary to be successful, only the passion and motivation to offer a valuable
product that is helpful to any community.
Support is available by phone simply by calling the Innovative Software, LLC office at: 860-228-4144 Monday through Friday 9AM to 5PM Eastern Standard Time or via email: support@MEDAlertBusiness.com and Live Chat via the www.MEDAlertBusiness.com website. Both email and live chat support are also available evenings and weekends to ensure entrepreneurs can quickly get any questions answered.
What advice would you give to someone going into business for themselves? In your opinion, what is the hardest thing about being in business for yourself?
The best advice we can offer when going into business is to have a mindset of success. Understand that any new business has challenges when marketing and promoting to make people aware of your product or service. Consider that there is no such thing as failure, only outcomes or learnings that you will obtain. If one approach does not work then simply try another. There are many inspiring stories of successful business people that had dedication and perseverance which lead them to success. The new entrepreneur should read stories of successful business people such as Colonel Sanders from Kentucky Fried Chicken who was actually turned down 1009 times before his chicken was accepted once or Walt Disney was fired from the Kansas City Star because his editor felt he "lacked imagination and had no good ideas." There are numerous stories of successful people, many which are quite surprising but inspiring. Our startup kit includes proven marketing approaches to make the process of getting started as easy as possible.
How long will it take a new owner to be up and running with your concept?
The new business owner can get up and running with MEDAlert® within a week or two. Once the business startup kit is ordered, it ships via US Priority mail and will be received within a few days. It only takes about a day to get familiar with the product and comfortable with the service and another day to register your new business. You can then begin advertising and building relationships with local businesses to promote your new service. Marketing materials are provided digitally so business owners can easily add their contact information and print materials. One fast way to get started that many business owners prefer is to perform simple brochure placement in local businesses. New business may be generated in the first week simply by printing brochures and asking local businesses if you can put a brochure holder in their location. Any business works well but especially those with a waiting area. Business owners find that promoting the MEDAlert® product is much easier than other types of products since other business owners will help you promote the product because it helps protect the people of your community.
What kind of capital is involved with owning this business?
The business startup kit cost is a one-time fee of $449. Once an entrepreneur purchases the startup kit, we then make the MEDAlert® product available at a wholesale cost of $9.95 each. The low cost of the product allows business owners to be profitable since the profit margin is simply the selling price less the $9.95 cost for the device. Some other low additional costs may be incurred to print brochures and business cards which can be done very affordably using one of our suggested online printers.
Compared to other concepts, why do you believe your concept is an excellent choice? What advantages do you bring to the table?
We feel that MEDAlert® is a very unique product because it helps to protect people and save lives. Offering this unique product gives business owners a sense of pride that they are helping to protect the people of their community and providing a valuable service. It simply is a business that any entrepreneur would be proud to own. In addition, it is much easier to promote than other products and services because potential customers quickly realize the benefits of the product and will purchase to help protect themselves and their family. Who would not want emergency professionals or hospital staff to have a nice summary of their key medical information, medications, allergies, physicians and emergency contacts in the event of an emergency? The MEDAlert® business is also easy to grow once an entrepreneur gets started since people will see that others are carrying it on their key chain and will ask about it making every customer a free source of marketing. It also provides a recurring source of income by offering an annual subscription which includes reminders and updates throughout the year.
About Fred Knapp
Fred Knapp is the President of Innovative Software, LLC which was established in the year 2000 and based in Hebron, CT. He earned a BS degree in Computer Science from Central Connecticut State University and an MBA from Rensselaer Polytechnic Institute. He has been providing consulting services to large corporations for over 28 years and has a passion for helping entrepreneurs start their own business through the business startup kits his company provides.