How To Start A Wholesale Pharmacy Business In India?

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How To Start A Wholesale Pharmacy Business In
India?
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(No Transcript)
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• 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.

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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

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• 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.

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• 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.

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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.

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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.

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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

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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.

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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.

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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.

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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.

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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.

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• 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.

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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.

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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!

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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