The medical store is a name that people want to stay away from. But the need brings them closer to it. Because medical health is directly related to human health and no human wants to compromise his health. Everyone wants them to be healthy. Therefore, in the event of any event or illness, he needs medical attention. Therefore, the demand for medical remains in every time. Earlier people used to consume more zari herbs or medicines etc. But currently, the prevalence of English medicine is increasing in every region. And people consume more English medicine. Therefore, the medical business is growing very fast. And due to these high margins, it also has higher profits.
Not only does the Indian pharmaceutical industry contribute to the healthcare industry of the country, apart from this, the Indian pharmaceutical industry also plays an important role in the health care industry of the world. The Indian pharmaceutical industry produces good quality medicine at low prices. Therefore, it supplies 50 to 60% of all types of medicine in India as well as abroad. India’s pharmaceutical market has grown at a rapid pace over the last decade and is growing at a rate of 15%. India is the third-largest pharmaceutical industry in the whole world.
Given the large industry of medicine in India and looking at its demand, you can assume that there are more employment opportunities in it. So in this episode, we will tell about the business related to medicine. Today we will show how you can earn millions by opening your medical store.
Table of Contents
- What is Mean By a Medical Store?
- How To Start a Medical Shop?
- Where To Get Medical Certificate?
- Election of Business Entities
- Types of Pharmacy
- Documents Required for Obtaining a License
- What More Will Be Needed To Open a Medical Store?
- Where To Get Goods For Medical Store?
- How To Increase Sell of Medical Store?
- How Much Will It Cost To Open a Medical Store?
- How Much Will You Earn in a Pharmacy?
What is Mean By a Medical Store?
The medical store is also like a common store, just here the medicine is written by the doctor or by other means. Here all types of medicine are found similar to drugs, or every type related to health.
How To Start a Medical Shop?
It is very easy to open a medical store but its legal process is a bit difficult to complete. Because it is a health-related product, hence its rules should do something compared to the rest of the business. Let us know what things will be required to open a medical store.
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Where To Get Medical Certificate?
If you are thinking of opening a medical store, then you should first get a certificate of D.pharma, B.pharma, or M.Pharma from a recognized college based on this certificate only state Drugs standard control organization and Central Drugs standard control The organization gives license to open a medical store.
Election of Business Entities
If you have a certificate and you are going to open a medical store, then you have to first choose your business entities i.e. what type of business you want to start like LLP or pvt.ltd.
Types of Pharmacy
There are many types of pharmacy from which you have to select which type of pharmacy you want to run. Some types of pharmacy.
- Community pharmacy
- Chain pharmacy
- Hospital pharmacy
- Clinical pharmacy
- industrial pharmacy
- Compounding pharmacy
- Consulting pharmacy
- Stand-alone pharmacy
- Ambulatory care pharmacy
- Regulatory pharmacy
- Township pharmacy
- Home care pharmacy
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There are 4 main types of this pharmacy which are more popular in India which you can do.
1. Hospital Pharmacy
In a hospital pharmacy, by opening a medical store in a hospital or near the hospital, the medicine was written by the doctor there is given to the hospital patient.
2. Township Pharmacy
Under the township pharmacy, you can open your Meficale store in a colony and provide medicines to the people there.
3. Stand-alone Pharmacy
Under stand-alone pharmacy, you can open your medical store in any residential area or any street locality and provide medicine to the people there.
4. Chain Pharmacy
One pharmacy has a medical store in several cities. Chain Pharmacy can be opened with a franchise of any major company.
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Documents Required for Obtaining a License
- Application form
- Pharmacist Living certificate
- 10th passing certificate
- Id proof
- Pharmacist Marksheet
- Experience certificate or college training certificate
- Proof of ownership
- Site Plan
- Challan of the fee deposited for registration (3000)
- And documents of registered pharmacists etc.
After completing all these documentation processes, apply with the sub-document to your state’s State Drugs standard control organization, there you will incur up to 3000 registration fees. After the successful completion of the process, you will get your license at your given address within 3 months.
What More Will Be Needed To Open a Medical Store?
- Choose a good place to open a medical store
- For medical stores, work should be less than 10 square meters of space.
- The shop should be good furnishing work
- Put an Ac in the shop because there should not be too much heat at the place of medicine
- Take the refrigerator to keep the medicine because it is very important to store the medicine according to the climate.
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Where To Get Goods For Medical Store?
After completing all these processes, it is said that keep the storage of medicine in your shop, now where to get the goods for it, then you can take it from the wholesale market because there is a wholesale market of medicine in every city, so you One can take medicine from there. Apart from this, there are MRS of different companies in every market, whom you can contact and take goods from them at your shop. Or you can get medicine online if you want. BAHUT are all companies that take orders online and send medicines to the given address.
How To Increase Sell of Medical Store?
To increase your cell, please contact your doctor as much as possible and ask them to prescribe medicine in your shop. So that they will refer the patient to your shop to take medicine for which they will take some commission from you.
The medical line is such a line in which you keep small doctors from every small village to every square intersection and their village has more hold in the locality. So contact the doctor and offer to take medicine from your place.
Maintaining as many types of medicine as possible in drug storage is a challenging task. There is every kind of medicine written by every doctor. So keep as many types of medicines in your shop and make the market such an image that you get all kinds of medicines.
How Much Will It Cost To Open a Medical Store?
The medical store is such a business that depends on itself what is your budget because medical stores can start from the work cost and cost more than there is no limit. By the way, according to experts associated with this business, you can open a good medical store by putting up to 5 lakhs.
How Much Will You Earn in a Pharmacy?
Earnings depend entirely on your cell and drug margins. Why every company has different margins in every area. Because any drug coming into retail after coming out of wholesale, it is easily sold even in a 100% margin. Therefore, the earnings depend on the company area and cell of the drug.