Nowadays we need pharmacists more than ever, especially since the pandemic has put everyone in trouble. You may want to learn how to open a pharmacy store.
If you’re thinking about starting a pharmacy, then this article will help you get started. It includes six easy steps that will guide you through the process.
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To ensure success when starting up a new business, you need to meet these requirements.
If you’re looking to open a pharmacy, you should ensure that there are at least 10 square meters (10m2) of floor space available. For some strange reason, if you want to add wholesale or retail into your pharmacy plans, you need at least 15 square meters (15m2).
Storage: You must have a refrigerator and an AC unit so that you can keep the medications according to their specific requirements.
For the safety of the patients, the drugs must be sold by or under the supervision of professional pharmacists.
You may need to get drug licenses depending on where you live and which states require them.
If you’re thinking about starting your own drug store, you’ll need to get a license from the government. You can also check out our guide on how to open a medical clinic.
Next up, you need to decide which type of pharmacy you want to run. There are four different types of pharmacy businesses:
- A pharmacy within a hospital for in-hospital use by its own staff and their guests.
- A standalone pharmacy (a pharmacy in residential areas for people who live there).
- Chain pharmacies (pharmacies located inside malls or other shopping centers)
- Township Pharmacy (Township pharmacy for the township’s needs)
You can start out by going for the standalone pharmacies that function under the unorganized category but then move on to the chain pharmacies or township pharmacies that are slowly becoming popular in the Indian pharmaceutical industry.
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To begin a chemist store, you need to register your company under GST. You then need to obtain a GST number and pay taxes for every product sold.
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