How To Start a Medical Store in India?

November 14 , 2022

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How To Start a Medical Store in India?

How To Start a Medical Store in India?

In the era of increased population, the demands of the person is increasing too. Historically, people were more fit as they relied on healthy home cooked food,k and also the lifestyle of the people was very simple. If we look at the people today, the busy life attracts unhealthy food habits, we further increase the chances of being sick. Currently, the requirement of the medicine is a need of an hour and to buy the medicine , one only requires a hygienic Medical Store that provides all kinds of medicines under one roof.

Starting a Medical Store in India - India’ s population is the 2nd largest in the whole world that makes it a huge market place. Be it in investment or Starting a Medical Store in India, it requires less amount of financial aid as compared to both business startups. There are numerous people in this country that suffer from different health issues which also make it important to get provision of pharmaceutical aid on time. The medical shop has to be set up in an area which has less or no medical store m, as this will help you make the customer base. The business of pharma stores provides plenty of benefits such as, all the medicine sold provides a good amount of margarine in the Maximum Retail Price. 

There is no second thought in the fact that many of us might have thought to Start a Medical Store in India after looking at the Indian market profits.but due to lack of knowledge of not knowing the eligibility, criterias and rules for opening a shop , one always take a step back brother than moving forward. But if you are planning to start this business then this Blog is meant for you.

Yes, you are correct, we will help you in understanding the basic criterias and gaining the knowledge of basic rules that one must know before setting up their business. 

Types of Medical Store 

Before starting a medical store one needs to keep in mind that in a huge country like India , which kind of medical store they want to open. Every medical store provides profits but the only thing that shows a difference isb the footfall, variety and range of medicine, opening and closing hours , and lastly and the most important one is where the store is situated. The location of the store matters a lot in terms of sales and profits. 

Below are the mentioned various types of the store.

  1. Hospital Medical Store

The medical stores that are present in the hospital are termed as the “Hospital      Medical Store’’. These are the stores that gain most of the footfall and maximum of them are opened for 24 hours. The range and  the quality of medicines has to  superior. The owner in this i9s required to keep all types of medicines.    

      2. Locality Stores

These types of the medical stores mostly target the customers of a specific area and keep the limited variety of medicines. Here bif the medical store has its monopoly then it will definitely achieve the highest profits as the customers of the store will be fixed. But the profitable income will vary every month as the profits of everyday life will be different. 

     3.Reputed Pharmacy Stores

There are few medical stores that are basically the franchise of the reputed pharmacy. These kinds of stores are the most popular once among the people as everyone nowadays prefers a brand that provides them a full range of pharmaceutical drugs with the provision of discounts too. These mostly provide an online delivery of medicines too. 

    4. 24X7 Medical Stores 

These medical stores are opened throughout the day and night and are mostly termed as the emergency stores. Such shops are found in the Porsche area of tre society and nearby the hospitals. They keep all the variety of medicine. 

We hope that with the mentioned types you can decide which type of Medical Store you want to set up in India. Now, after this one should also know a few major criterias that are really necessary for opening a store. 

Requirements to Start a Medical Store In India

  • Degree or Diploma

It is a compulsion to either have a diploma in pharma or one should have a degree of B.Pharma.  By doing this , one gets the license to apply for a medical store. It also provides a person some basic knowledge of the medicines. Only through this one can be eligible to open a medical store.  

  • Rules

There are some important documents that are required to open a medical store. 

  • Pharmacy License.
  • Land Registration.
  • Registration of Medical Store Business.
  • Company Registration.
  • Tax Registration.
  • Registering for a Drug License.
  • License cost 

The cost of the Lisence would be nearly Rs 5000 but will vary on the states.

We hope that the mentioned information is enough for you to open a Medical Store, keep in mind to follow all the legal processes and choose the appropriate type of the store you want to open. 

 

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