How to start a wholesale pharmacy business in India? – The pharmacy business is an evergreen business in India that is not affected by economic cycles. Furthermore, the increasing popularity of corporate hospitals and multi-speciality hospitals in India has led to tremendous growth in India’s healthcare and pharmacy business.
How to start a wholesale pharmacy business in India?
If you are a PCD franchise owner retailer or want to start a pharmaceutical business at a good level, then go for a wholesale pharmacy business. This will give you good profits and an opportunity to start your own venture.
As awareness of health and fitness increases and medical facilities attain new levels; There is potential for good growth in the pharma business.
Types of Pharmacy Business That You Can Opt to Start:
When you have reached a milestone as a retailer, you can invest in wholesale businesses that are as follows:
1. Standalone Pharmacy: A chemist or drugstore or a general drugstore is the name of such a business. You can expand your current profile and deal with different types of drugs.
2. Hospital Pharmacy: Collaborate with a hospital or a medical institution to market, sell and promote drugs.
3. Internet Pharmacy: Digitalization and turnaround work with online vendors, customers, and distributors. This business is usually online.
4. Specialist Pharmacy: Wholesale business in specialized business areas such as oncology, dermatology, Ayurvedic, homoeopathic, etc.
Legal Procedure for Drug License:
Do people often ask if a drug license is mandatory to start a wholesale business in the pharmaceutical sector?
And the answer is “Yes”. No one can cause such a business without a drug license. If anyone does so, it will be considered illegal and legal action will be taken against him.
Document & Procedure to follow:
You must have at least a degree or diploma or SSC from a recognized institution to apply for this. You must have 1-year of experience in marketing medicines. To apply for this, the following documents will be required.
- Fill the application form in the prescribed manner.
- Applicant’s covering letter.
- Fee submission challenge.
- Declaration plan.
- Site plan, master plan, and authority certificate of business premises.
- Proof of ownership of the premises.
- Proof of formation of business based on its type, e.g., partnership deed, letter of undertaking, certificate of incorporation, etc.
- Proof of appointment of a listed pharmacist who will work full-time in the company.
Your business is always local, even if you do it nationally because the customers are from local areas. Therefore, keep a good relationship with hospitals, local clinics, and nursing homes. Do intensive research and then proceed with the wholesale trade.
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