How To Start A Wholesale Pharmacy Business In India

If you are planning to list down the most dynamic industries in India presently, pharmaceuticals will be one of the topmost undoubtedly. Clearly, the pharma industry does not follow the regular monetary cycles unlike majority of other businesses. Therefore, it is mandatory to at least know the basics of How To Start A Wholesale Pharmacy Business In India, if you are aiming to benefit from the overall growth of the industry. There is ample chance of business as well as monetary growth once you become part of the pharma industry. Of course, as people in this country are constantly taking their health seriously, pharma manufacturing will also go upwards only. Moreover, you don’t need to invest a massive amount of money as capital or for space in this case. Therefore, a lot of people are now planning to step into the wholesale pharmacy field. However, there are quite a few things that you must keep in mind beforehand. This post is a brief guide to explain how to start a wholesale pharmacy business in India.

What types of customers will you have to cater to?

Firstly, it is imperative to segregate the primary types of wholesale pharma agencies. There are mainly three- clinical drug stores, chain drug stores, and standalone drug stores.

Here is a slight insight into the primary categories:

• Chain stores- These are franchisees of big drug companies and bear the brand’s goodwill which makes it easier to earn profits. However, there are several other factors including location and competitiveness that play vital roles.
• Standalone stores-in this case the business is carried out under some association and proprietorship. Similar to chain stores, there are several other aspects such as the store location and competitiveness that play vital roles during the process.

• Clinical stores- these are the most common ones that you will find attached with big hospitals or big clinics. In this case, the whole success of the stores are directly associated with that of the hospitals and clinics.

What is the legal procedure of starting a whole pharmacy business in India?

The legal rules state that anybody who is a pharmacy graduate and has an experience of at least a year in this industry can launch a pharmacy business. Moreover, a GST registration is compulsory when you are planning this business. The same along with a legal license can be acquired from CDSCO, the apex authority in the pharma industry.

Here is a list of a few legal documents that is required when you are asking how to start a whole pharmacy business in India. Of course, Orange Biotech Pvt. Ltd. is a leading PCD pharma company based out of Ambala, Haryana and encourages genuine entrepreneurs to come forward. Their goal is to expand the business through franchise agencies. Let’s check out the basic documents required:

• Application form filled out in a specific format
• Applicant’s cover letter
• Fee deposition challan
• Declaration plan
• Possession certificate
• Ownership proof of the business premises
• Business constitution proof depending on its nature, e.g., incorporation certificate, undertaking letter, partnership deed, and more.
• Appointment letter or appointment proof that you have a licensed pharmacist who will work for you full-time.

You must also be aware of the fact that CDSCO has information about every single wholesale pharmacy business. It is done so that the businesses can maintain a simple standard of storage, sale, and display of products.

On the other hand, the business premises play a very important role in the whole procedure. It is a mandatory requirement that as a pharma wholesaler, you will have proper premises that is closed, safe, and secure.