How To Start A Wholesale Pharmacy Business In India? - PowerPoint PPT Presentation

About This Presentation
Title:

How To Start A Wholesale Pharmacy Business In India?

Description:

However, starting a wholesale pharmacy business in India has certain prerequisites. In this post, we have covered everything starting from how you can start your pharmacy business to all the legal requirements and eligibility for starting a business as a seller of medicine. And after your business is running successfully and you want to expand your business further, you may want to incorporate the setting-up of an online wholesale pharmacy platform. EMed PharmaTech offers comprehensive business solutions for the pharma wholesale sector. Request a free demo to know more. Source: – PowerPoint PPT presentation

Number of Views:113

less

Transcript and Presenter's Notes

Title: How To Start A Wholesale Pharmacy Business In India?


1
How To Start A Wholesale Pharmacy Business In
India?
2
(No Transcript)
3
  • The Pharma industry is among the biggest
    industries in India. It also holds a wonderful
    4th position in the world in terms of volume.
    Therefore, Business-to-Business (B2B) pharmacy
    i.e., wholesale pharmacy is proved to be a
    profitable business. Pharma experts have an
    excellent opportunity to grow with this business.

4
Types of Pharmacy Businesses 
  • Before you jump on the best way to start your own
    pharmacy business in India, you have to know the
    types of pharmacy businesses that you can begin
    here. When you have reached a milestone as a
    retailer, you can invest your resources into
    wholesale businesses which are of these types

5
  • Standalone Pharmacy Chemist or a general medical
    store is the name of this sort of business. You
    can extend your existing profile and manage a
    wide variety of medicines.
  • Hospital Pharmacy Team up with a medical
    institution or a hospital to reach out, sell, and
    promote medicines.
  • Chain Pharmacy Build your own chains in various
    locations, which could be around the country.
  • Township Pharmacy This is identified as a
    particular housing society of town where you have
    a decent reputation.

6
  • Internet Pharmacy Turn to digitalization and
    work with merchants, customers, and wholesalers
    on the web. This business is typically online.
  • Specialist Pharmacy Wholesale business like
    dermatology, oncology, homeopathic, ayurvedic,
    and many more.
  • Animal Pharmacy/Veterinary Pharmacy Deals in
    animal medicines and products.

7
Types of Customers for Wholesale Pharmacy Business
  • Clinical medical stores
  • A clinical medical store is something that can be
    set up under a doctors clinic or a huge
    corporate hospital. In both scenarios, it is
    called a private organization. The achievement of
    it relies purely upon the success of the hospital
    (or prominence of the doctor).
  • Standalone medical stores
  • This sort of customer runs the business under
    single ownership or some affiliation. The success
    of it relies upon various aspects like the market
    competition, the area of the medical store, and
    its reputation.
  • Chain medical store
  • A chain medical store is another establishment of
    a huge medical organization. As it carries the
    authenticity of the brand, it is relatively easy
    to make a profit. However, competitiveness and
    location truly play a significant role.

8
Legal Procedure
  • According to the rules, anybody who is graduated
    in pharmacy and gets the experience of at least
    one year in the field can apply for the wholesale
    pharma business.
  • CDSCO is the controlling authority that released
    the permit. GST registration is an additional
    requirement to begin the business.

9
Following documents are required to get started
  • Application form filled in the recommended format
  • Covering letter of the candidate
  • Challan of the fee deposited
  • Declaration plan
  • Site plan and key plan of the business premises
  • Proof of ownership of the premises
  • Proof of constitution of the business dependent
    on its type, i.e., incorporation certificate,
    undertaking letter, partnership deed, and many
    more.
  • Proof of appointment of an enlisted pharmacist
    who will be working in the organization full-time

10
Successful Wholesale Business Plan
  • Craft a successful Business Plan.
  • Get a rented or owned premise/shop.
  • Prepare a rent agreement (In case of rented
    premise).
  • Contact best pharmaceutical companies in India
    for the Stockiest ship, Wholesale, or potentially
    Distributorship.
  • Seal all deals with a Pharmaceutical Company.
  • Get wholesale medicine license from Goods and
    Service Tax Registration. 
  • Purchase other necessary items like Computer,
    Fridge, Furniture, and so forth.
  • Medicine Inspector will personally analyze your
    premises. If they find out the conditions of the
    premises well-maintained, then they will release
    your medicine license.
  • After some time, you will get your medicine
    permit copy and number.
  • Start buying, stocking, and invoicing medicines
    and medicines to retailers and medical stores.

11
Investment/Money/Fund/Amount needed for pharma
distribution business
  • Fixed Assets
  • Documentation and License Costs around
    25000-30000 INR
  • Furniture Approximately 20000 INR
  • Refrigerator 5000 to 10000 INR
  • Liquid Assets
  • Rent of premises Varies depending on the
    location
  • Medicine and Medicines Depends on your buy
  • Starting a pharma distribution business with
    large brand costs around 3 to 5 lakhs, and for
    the small pharmaceutical organization, it cost
    nearly 1 to 2 lakh investment.

12
To whom should you sell medicines?
  • A wholesale medicine licensed firm cant sell
    medicines except if such medicine is bought under
    a cash or credit memo from an appropriately
    authorized dealer or a duly licensed
    manufacturer.
  • You cant sell medicines directly to the patients
    against the medicine order of enlisted medical
    practitioners.
  • Other than requisite license firms, a wholesale
    medicine licensed firm can offer the following
    even if they dont have a medicine-related
    license
  • An officer or authority buying for Government, or
  • A hospital, educational, medical, or research
    institution or a registered medical specialist
    for the purpose to supply to his patients, or
  • A manufacturer of confectionery biscuits,
    beverages, and other non-medicinal products,
    where such medications are needed for processing
    these products.

13
Important factors for wholesale pharma companies
  • Team up with the local clinics, hospitals, and
    pharmacists and start supplying to them. Being in
    the healthcare industry, the authorities are
    strict about storage as well. Hence, ensure that
    you have legitimate and hygienic storage rooms on
    your premises. Store the medicines according to
    the standards to stay away from complications.
    Keep the premises free of bugs, messy materials,
    and waste. Cooling appliances like air
    conditioners and refrigerators are also
    additionally viewed as fundamental to store
    medicines. You will, likewise, have to hire
    working staff besides the medicine specialist.
    And after your business is running successfully
    and you want to expand your business further, you
    may want to incorporate the setting-up of
    an online wholesale pharmacy platform.

14
What is an online wholesale pharmacy marketplace
and what are its benefits?
  • It is a platform where buyers and sellers make
    contacts with the help of an online place. Here,
    buyer and seller both are business owners.
  • The wholesale market across the world in general
    and in India, in particular, is rapidly adopting
    the online B2B marketplace. Taking your
    traditional business to an online marketplace
    like one offered by EMed PharmaTech assures you
    many benefits. We have listed some of them below.

15
  • Easy Set-up
  • In addition to the growth and adoption of the
    internet in India, one of the key reasons behind
    the rapid rise of the online marketplaces is the
    easy set-up and transition it offers. By
    contacting a pharma app development company, one
    can start a marketplace for their business very
    easily.
  • Rapid Expansion
  • The traditional brick and mortar stores have many
    constraints when it comes to business expansion
    because it is highly tied to the offline reach.
    But, in the case of online marketplaces, there is
    no such hindrance as it enables the business
    owners to scale their business rapidly. One can
    meet their potential clients online and deliver
    the goods without much hassle.
  • Reduced Paperwork
  • In the B2B model, doing paperwork is cumbersome
    because of the sheer number of products that are
    sold. The facility of digitized records provided
    by online marketplaces not only reduces paperwork
    but also makes finding a particular bill or
    record easy. It is always just a click away. It
    also saves you lots of bucks by reducing manual
    work and human efforts.

16
Conclusion
  • Pharmaceutical Wholesale and Distributorship is a
    significant part of the pharmaceutical
    distribution channel. You can begin it by taking
    a wholesale medicine license and GST number.
  • Do in-depth research and then proceed with
    wholesale business. You need to have a proficient
    network of distributors and medical experts to
    gain more profit.

17
How to get the demo of our platform?
  • EMed PharmaTech offers comprehensive business
    solutions for the pharma wholesale sector. If you
    want to build your eCommerce marketplace or want
    to get a demo of our services, Click here!

18
Get in Touch
91 720 209 7862
info_at_emedstore.in
A/707, Mondeal Heights, Beside Novotel Hotel, Nr.
Iscon Square, S.G. Highway, Ahmedabad, Gujarat-
380015 (India)
https//www.emedstore.in/request-demo
Write a Comment
User Comments (0)
About PowerShow.com