Things to see while opening a drug store – Credihealth Blog

Opening a drug store is a good business idea if one is planning to get involved in the business in India because the income in this field is much higher compared to others. Another advantage of the pharmaceutical business is that it is not easy to solve problems in this industry. However, it is important to note that it is important to look carefully before starting this business because it cannot be done as expected without proper planning.

So, if there is a small amount of money to invest outside the sky, opening a health shop business is a good fit for new businesses in India. One can go to a medical franchise like Netmeds, Apollo, etc. or choose an independent drug or drug store. But it must be remembered that the first option is better than the last.

But there are some things to know before starting this business. they are: –

He has a bachelor’s degree in medicine

First and foremost a B Pharm / M Pharm level. If a beginner does not have this degree, he or she may need to find a prescription drug that works in the store for a fee.

This is necessary because one will need to prove the certification of at least one drug (either the employee or the owner) to obtain a Medical License to open a medical store.

Most importantly, when buying medicines, a professional should go to the store during working hours. Therefore, they need to ensure that they receive Rs 5,000 to Rs 30,000 per month for a medicine at their health store.

The industry can include any of the following: –

✔ Approved by the Pharmacy department, a prescription drug, or

✔ A graduate student with at least one year of experience in related medicine (medicine), or

✔ Each person, approved by the Department of Medical Services, has passed SSLC with a minimum of 4 years of medical (medical) experience.

Contract for the medical store business

One needs to have a certification and / or rental agreement of buildings with a minimum of 10 square meters in order to start a health grocery or grocery store business. If one wants to combine stores and wholesalers, then a minimum of 15 square meters is all that is needed.

Investment is necessary for the medical store business.

The lowest requirement for starting a pharmaceutical business is to own or rent a store if one wants to work on the land. They had to set aside a certain amount of money to rent or buy a place with supplies and goods to be sold for those people. Depending on the store, locality, and city, the price can range from Rs 5,000 to Rs 12 lakhs. One can take out a mortgage loan from banks to start a drugstore.

The ice box is important

The medical store should have the ice pack as well as medications (medicines) like Sera, Vaccines, Insulin Injections, etc. should be kept at low temperatures.

A computer for the medical store business

For managing business accounts such as archives, savings, expanding archives, bookkeeping, creating bills, and more, the computer has become a tool. it takes time for a cure. In addition, with the GST implementation, it is much easier to count with the help of various programs than it is to count by hand.

Documents are required for the medical store business

The list of required medical records varies from state to state. But the following is a list of the important documents required for the disposal of a drug in India according to the various rules set by the Department of Drug Control. they are: –

  • A medication that is prescribed full -time or under the promise of a skilled person.
  • Classification of medicine.
  • The reason for the availability of the store.
  • Covering the letter with the signature and name of the applicant with their choice.
  • Constitutional Certificate (Incorporation Certificate / MOA / AOA / Partnership Deed).
  • Notice as directed.
  • Fee leaving the challan for obtaining drug licenses.
  • If the skilled person or the prescription drug is hired, then their letter of recommendation is required.
  • ID verification and photocopies of all partners or owners of the medication.
  • Application for a license to practice medicine as prescribed.
  • Store verification.
  • Site project of the store.
  • Under the Drugs and Cosmetics Act, 1940, an affidavit is the non -stop dispute between the owner or officials or partners.

The documents listed above are required to dispose of a drug. After receiving all the documents, it is necessary to visit the Medical Examination Office and submit an application for a grant of a drug store and a drug store (medicine). Once all the documents are approved, anyone can withdraw their medication.

The Benefits of Applying for a Drug Store Loan Online

  1. Non -Paper Solution

Hard copies of any documents should not be obtained; one can submit the required documents online.

  1. Small document

To apply online, a small document is required. Any documentation, such as internal data, audit reports, and archives, is not required.

  1. Non -loan from Collateral Medical Store

There is no requirement for health care home loans for advanced or new businesses.

  1. Quick Debt Consolidation Loans:

Once the required documents are filed and the required requirements are met, the funds are deposited directly into the public account.

  1. No Hide and Seek:

The aforesaid interest and service charges. There is no down payment, and one can pay on the back of EMI.

A business loan for a drug store or pharmacy

All of the above requires some money to invest in a health store. A health care home loan helps a person get wealth. The best way to get a loan is to find a lender who will meet your financial needs.

Documents are required for a medical store loan

Documents required to obtain a health care home loan: –

  • Aadhaar card
  • Annual Reports
  • Bank details
  • Business Information
  • Current sale
  • Non -Aligned Documents
  • PAN card
  • Verify photo ID such as Passport, Choice Card, Car License, etc.
  • Project presentation
  • Sales registration details

You have to ask for a medical store loan

Anyone over the age of 21 who has regular income can apply for a loan.

How to apply for the medical store loan?

Visit the lender’s website or bank’s website and go to the ‘apply for a loan’ section after reading about the benefits of a business loan. Enter personal details and upload documents. When finished, select the submit button. Always check the number listed and the email address to approve the loan.

Things to watch: –

  • A drug license is a document issued by the Department of Education for the purchase, sale, storage, and display of drugs (medicines) on the market under the direction of and a registered physician.
  • A wholesale drug license is issued by the Department of Health for the purchase, sale, storage, and disclosure of drugs (medicines) on a full -scale basis under the supervision of the pharmacy.
  • Both licenses are necessary if one wants to buy wholesale and sell at a health grocery store.
  • A medical doctor is a qualified person who has a bachelor’s degree, diploma, or doctor of medicine.
  • Except for a wholesale or retail license, no NOC is required to dispense a drug.
  • It can be used in the pharmacy, chemical and pharmaceutical stores, pharmaceuticals, chemical production, pharmaceuticals, and pharmaceuticals.
  • Yes, you need to have a license from the AYUSH industry to buy Ayurvedic, Unani, and Homeopathy medicines.
  • FSSAI license or Food Safety and Standards Authority of India is required for purchase of food additives.
  • Yes, GST is required for medicine.

Disclaimer: The words, opinions, and data contained in these publications are those of the authors and contributors only and not those of Credihealth or the editor.

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