How to Start Wholesale Business in Pharmaceutical? – Pharmaceutical is the highest growing business at present. We are the world’s third largest manufacturer of pharma drugs and expect to grow more y 15% by the end of 2022. Due to this rapid growth, the pharmaceutical sector provides the huge opportunities for business for the number of people all over the country. People have ample option for business in pharma industry one such option is Wholesale Business in Pharmaceuticals. Proving medicines to the people as important as to manufacturer them which is done by distributors or other supply chains.
Starting a wholesale business is definitely a good idea but one must know How to Start Wholesale Business in Pharmaceutical? in a right way. For doing so the first and the foremost thing that you need is the license. Without the licenses, it is illegal to sell the drugs in India. Business in pharmaceuticals for retailer and whole seller is the quite profitable investment that provides the high margin and less input for marketing.
How to Start a Pharmaceutical wholesale business?
Here you will get to know about all the right way to start a pharma wholesale business in India. This will help you in getting to know all of the requirements that you need to full fill to start your own wholesale business in the pharma industry. Step by step find the right way by which you can start your business in pharmaceutical without facing issues.
Mentioned below are some important step that you must follow for getting the pharma franchise business:
- Firstly, you need to look for a premises/shop/plant for your business.
- Once you found the one make a rent agreement if you do not have one of your own.
- Then you need to connect to the pharmaceutical companies or C&F for Distributorship or stock ship
- Finalize the deal with Pharmaceutical Company
- Once the deal is done you must need an office. Go for the purchase of office accessories like Furniture, computer, Freeze etc.
- Now the very important thing is for applying for the wholesale drug license to district drug control office and Sale Tax number
- As you set up of your office and apply for drug license, the drug inspector or any concerned person will visit your premises for inspection. If your premises meet the requirement only then the concerned person will approve your license for the wholesale business.
- You will get the drug license and the copy number once you are done with the visiting procedure.
- Now you can start purchasing, stocking and invoicing drug and medicines to retailers and pharmacies
Eligibility criteria for getting Wholesale Drug License
For start a wholesale business in the pharmaceutical sector it is very important for an individual to get the drug license only then the sale can take place. Selling drug without the license is illegal and will lead you into the trouble. For applying for the drug license you need to fulfill the certain requirements only then you will be able to get the drug license.
Here are the requirement or the qualification for the person to get the drug license:
- The person who is applying for this license must be registered pharmacist under state pharmacy council
- At least one-year experience in registered drug licensed Firm as salesman is required for graduation or
- At least four-year experience in registered drug licensed as salesman is required after senior secondary examination
What are the scopes after getting the drug license for wholesale Business?
Wholesale drug license is an essential legal document that is required for the business of wholesale in pharmaceuticals. There is a huge scope in the pharmaceutical industry as you get your own Wholesale drug license for pharma franchise business.
Here, mentioned below are the scope of Wholesale Drug License includes following things:
- Generic Medicine Distribution
- Hospital Supply
- Branded and ethical Medicine Distribution
- Pcd Pharma Franchise Medicine Distribution
- Over the Counter Medicine Distribution
- Supply to Pharmacy Chains
- Institutional sale and Supply
- Medical/surgical/health supplement distributors
- Pharma Distribution Company
- Ayurvedic/Homopathic/Unani medicine distribution
Investment Required for Wholesale business in Pharmaceuticals
- Approximately 20,000 to 25,000 INR is required for the Documentation and License.
- For Furniture, you will be approximately required 20,000 INR
- You need to give the Rent of premises that depends on the location and area or your premises
- Investment for Medicines and drugs, this will depend on your purchase