Friends Medical Store is an evergreen business. Because its connection is direct to our health, which keeps getting worse due to changes in every season. Once a person eats less food, it can become a matter, but if his health deteriorates, treatment has to be done. It will obviously take medicines to get treatment, And every time he will go to the medicine for medical care, it is important to note that the medical store is a very profitable business. Which has nothing to do with the ups and downs of any market. Today I will try to explain through this post what is the process for opening a medical store? I would like to tell you that I am writing this post with the help of my friend Rahul, who has his own medical store, he has been operating the medical store for many years.
Ability to open a medical store
Who Can open a medical store
- D. Pharma (Diploma in pharmacy) course which is 3 years course or
- A course of B.Pharma (Bachelor of pharmacy) which is 2 years old. or
- Must do M.Pharma (master of pharmacy) course
After this, registration has to be done in the pharmacy council.
About 2.5 lakh to 3 lakh rupees will be required to do any of these courses.
The next important step for how to start a medical supply store is licensing and registration. Which is divided into the following parts.
License and Registration to Start a medical supply store
1. Hospital Pharmacy
This type of medical hospital is located inside. And from there he sells medicines.
2. Township Pharmacy
As the name suggests, this medical store is located inside a township or city and provides services to the people residing there.
3. Chain Pharmacy
Under it, chains of medical stores are opened in big industrial houses or cities, etc. such as Apollo Pharmacy, Dabur Pharmacy, Red Cross Society, etc.
4. Stand alone pharmacy
This type of license is given to those who want to open a medical store in a residential area, medical located in a street, or a locality that comes under this license.
It is mandatory for this business to have value-added tax registration. For VAT registration, you can contact your nearest VAT or sales tax department.
Drug license for medical store
This license is main for a medical store, without this, you cannot operate a medical store. This license is issued by the Center and the State Drug Standards Control Organization. There are two types of licenses issued –
1) RETAIL DRUG LICENCE- This license has been issued to the drug seller.
2) WHOLESALE DRUG LICENCE- This license is issued to wholesalers of medicines.
What are the documents required for a Drug License to start a Medical Store?
Documents required for drug license to start a medical supply store
- Own land
- Rent if rent
- Two photos
- Aadhar card or pen card
- electricity bill
- A stamp paper of Rs 50 or Rs 100
License costs To start a Medical Store
Its license by Government is just 3000 to 5000 rupees. But getting its license can be said to be the key to a medical store. Because it is the era of competition, people only think about themselves, I would not like to say more about it if you are sensible then understand it.
What is the cost To Start a Medical Store?
The cost to open a medical store is
To open a medical store, basic needs have to be met. Because any other business person can carry a license, but for this business license only the basic requirements should be fulfilled such as your own land, shop, furniture, fridge, etc. All these will cost to open a medical store is about 1.5 to 3 lakhs if you own If the land is there. After this, if the cost of the license, diploma, medicines, etc. are mixed, then it may take about 5 to 7 lakhs more.
Some people do the same work by getting a license from their relatives, which saves their expenses for diploma course etc. You can also do this business easily by getting a license from someone who has done diploma in pharmacy, provided You must have a good knowledge of medicines as well as the English language otherwise it can prove fatal for your business.
How much can be earned from a medical store?
Earnings are also a special part of this business, and why not when you invest so much money and if there is no profit, then the profit of this business depends entirely on the location. It is often seen that the medical stores are mostly opened in the place where the hospitals are or those who are located away from the hospital are in contact with the doctors so that they can earn well even while away. By the way, in this business, there are millions of earners, so some medical stores are running only 10 or 20 thousand.
So friends, how was our post written on how to start a medical supply store, definitely tell how you can comment below for any kind of question or suggestion.