How To Start a Profitable Medical (Pharmacy) Store Business

  

medical store business the medical store is an  evergreen business that operates throughout the  

year no matter the season medical store means  a shop where many types of medicines related  

to health are sold these are pharmacy shops where  medicines are sold in retail people keep getting  

sick in every season in such a situation people  go to the doctor and the doctor prescribes the  

medicine which will all go to the medical shop  to take currently the virus disease spread in  

everywhere there has been a huge crowd at the  hospital and medical store since virus disease  

has created a ruckus all around people have only  one support and that is the medicine and medical  

store many people would have lost their lives  if there were no medical stores in today's time  

looking at all these things if the business of the  medical store is open it can be a very profitable  

business further the additional business  opportunity of the medical supply store is perfect  

for those who are chemists or have many years of  experience as pharmacists as a startup you can  

buy a franchise from established brands or start  your own from scratch here in this video today we  

are going to give you complete information about  how to start a profitable medical store business  

learn the medical store business if you want  to open your own medical store then there are  

two ways to open a medical store the first way  is that if you want to open a medical store on  

a very large scale then you can also appoint  a pharmacist who can run your medical store  

and other one a smaller scale in which the  industry wants to do so by investing less capital  

if the entrepreneur wants to open a medical store  on his own then he needs to do b pharma or d  

pharma you can start a medical shop business  only if you have done any of these courses  

if you have not done this course yet and you  want to open a pharmacy shop then you should  

take any of the following three courses one  d pharma diploma in pharmacy those who have  

passed intermediate examination from biology  and who have 50 marks in inter can do d pharma  

course this is a three year course two bachelor  of pharmacy intermediate must have a minimum of 50  

marks in order to take a pharma course also must  be from interbio the duration of this course is  

four years after completing the course it is  necessary to undergo training for six months  

from a government or private hospital three m  pharma master of pharmacy this is a two year  

course and to get admission in mpharma a student  must pass b pharma with 50 marks after doing m  

pharma one gets a lot of knowledge about medicine  after when a person's pharmacy course is completed  

one has to be registered with the pharmacy council  of the state to become a registered pharmacist  

for this the candidate has to provide some  other documents in addition to the educational  

documents which are verified this application  can also be done online by the candidate  

write a business plan create a detailed  plan for your medical store business  

decide which medication you want to keep what  other services do you offer your customers  

calculate the fixed costs and working capital  decide on the total initial budget and expected  

earnings there are many types of pharmacies in  nowadays but the most prevalent are only four  

types hospital pharmacy township pharmacy  chain pharmacy and standalone pharmacy  

investment for medical store business those who  are new who do not know anything about it their  

first question is how much investment is needed  to start a medical shop so let me tell you that  

at least two lakh rupees will be required to start  a medical store only then you will be able to keep  

different types of medicines in your store if you  want to open a bigger shop then you will get about  

five to seven lakhs money will be required place  for a medical store business location selection is  

an important factor in any medical store business  it is preferred to choose a location with a high  

population density don't choose a commercial area  if we talk about the area required for medical  

store then at least 100 to 150 square feet of  space will be required for the retail drug dealer  

further medical store must be equipped  with a refrigerator and air conditioner  

this is emphasized because labeling specifications  require certain drugs like vaccines sera insulin  

injections to be stored in the refrigerator  license and register for medical store business  

getting a drug license is the most  important step for pharmacy business  

in india and this license is issued by the central  and state level drug standard control organization  

there are two types of licenses issued retail drug  license and wholesale drug license retail drug  

licenses issued to pharmaceutical retailers  and wholesale drug license to wholesalers  

and this license is issued in those who have  obtained a degree or diploma in pharmacy from  

a recognized institute in most countries you  will need a number of licenses and permits  

to open and operate a medical store talk to  local government authorities or take advice  

from experts and obtain the necessary permits  better buy medicines for medical store after  

opening the medical store the entrepreneur has  this problem where to buy the medicine you have  

two ways to buy the medicine here the first  is that you can contact the drug manufacturers  

directly and they will get the medicine can buy  but the biggest thing here is that for this you  

will need to invest a lot because companies  at small level refuse to give medicines  

the second way is that you can contact the  big wholesaler supplying in your nearby city  

these people deal in small scale medical shops  and here you also get all kinds of medicines  

medical shop business profit by this way very  good income can be earned from the medical shop  

because the number of patients is increasing  day by day usually two types of medicines  

are sold at medical stores one is generic  medicines and the other is ethical medicines  

generic medicines have a profit margin  of about 40 to 50 percent while ethical  

margins of different pharmaceutical  companies vary from company to company  

millions of rupees a month can be earned in this  business there is no exact figure of medical store  

business profit margin it depends on you how  you deal promote your medical store business  

you can begin the advertising through giving some  local newspaper advertisements you can consider a  

few value added services like an internet order  system and shipping on the client's doorsteps  

to increase the sales of medicines contact all  the nearby doctors you can tell them to send  

the medicines that they write to your medical  shop in return you can commission them different  

doctors prescribe different types of medicines  which makes the customer upset many times many  

medical shops have to find medicines so you try to  it keep all kinds of medicines in your store and  

a little publicity when people come to know that  every type of medicine is available at your store  

then people will come to your own medical shop  we hope in this profitable medical store business  

video will help you in initiating your own  business if you like in this video please like  

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