How To Open Medical Store : Medical store is one of the most profitable busines idea in everywhere
Any big business always starts with a small scale. And with a right (business idea) , you can become a successful businessman in future. (Most profitable Business idea in english )
In today's growing time, most of the youth want to do business. So that they never have to wander anywhere to get a job ( Small Business Idea in english )
In today's time, there are many business ideas that you can start from home.(Home Made Business Idea) That too in minimum investment. (Low Investment Business idea)
In this article today we will tell you how you can start a successful medical store and most profitable business idea ( How to start a medical shop) . Knowing which you can start your own business and earn good profit.
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Step by Step Guide for opening the most profitable business of Medical Store :
how much the medical profession grew during the pandemic.
There are two ways to start a medical store.(How to start a medical store )
Retail pharmacy franchise :
Retail Pharmacy Franchise, which will have some limitations and you will have to do business according to the franchise company
Own Medical store :
Own Medical Store This is the second and best way. Which you can do business according to you.
Types of medical pharmacy
There are many types of pharmacy like,
- community pharmacy
- hospital pharmacy
- clinical pharmacy
- industrial pharmacy
- compounding pharmacy consulting pharmacy
- ambulatory care pharmacy
- regulatory pharmacy
- home care pharmacy
These pharmacies are located in the local area and residential area, hence they are called standalone pharmacy.
Hospital pharmacy :
The medical stores which are located in the area of the hospital or in the hospital are called hospital pharmacy. or in hospital
Chain / franchise medical pharmacy :
A pharmacy that can be opened by taking the franchise of a company. It is called chain pharmacy. It is also called as Franchise Medical Store.
Qulifications for opening popular business idea of Medical Store ( How to open medical store )
You will need some qualifications( degree) to open a medical store. like
- D.Pharma
- B.Pharma
- M.Pharma
Process for apply drug license :
- As soon as you have obtained diploma, bachelor or master degree in pharmacy, you can go to the medical department of your state and get the document verification
- When your document verification is done, you can apply for the registration certificate
- When you get the registration certificate, you can apply for drug license.
Retail Drug LIcense :
If a person wants to start a retail medical shop then he can apply for retail drug license. You may have to pay some amount to get a retail drug license.
Wholsale Drug License :
This license is made for wholesale traders. Traders who buy and sell medicines in bulk.For this license you will have to pay more than the retail drug license.
Any drug license will be given only to those who have any pharmacy degree, without qualification you will not get the license, and if any person claims to get you a license without any degree, then it is a punishable offense by law. If caught, you can also be punished.
Documents For Apply Drug License :
- pharmacist registration certificate
- Application form
- Pharmacist voter ID
- Passport size photo
- Shop certificate
- Rental shop agreement if shop is on rent
- No objection certificate if shop is on rent
- Trade licence
- Pharmacist appointment letter
Apart from this, many more documents are asked, to get information about which you will have to contact your nearest drug control office.
Calculate Investment for start most profitable business of medical shop
Investment is the most important part of any business, the following points will help you to calculate your business investment.
- Price of your shop (rent if shop on rent)
- Furniture
- Drug license
- Accessories like Name board, medicines pocket, electricity ,Computer ,chair ETC
- Medicines
- Worker salary
Apart from all these things, there can be many other things which will be helpful for you to calculate the investment.
If you talk about the average approximate investment to open a medical shop, then you may find a cost of 6 to 8 lakhs in the city and three to four lakhs in the village.
Another important points for opening most popular business medical store
- Choose a more populated area to open a medical store.
- Determine the correct name of your shop
- arrange electricity
- Manage Medicines
- Design your shop furniture.