How to start a Pharmacy Store
Health is the primary requirement for any human being and that’s why in the business aspect the healthcare industry is best in the world. And pharmacy is the best segment of the healthcare industry, in fact, in this covid-19 pandemic this industry unaffected by any kind of recession.
Step 1: Company Registration:
Pharmacy Store can be categorized into 04 models on the basis of their working.
- Standalone Pharmacy: Pharmacy stores located in a residential area to serve the people’s requirements.
- Hospital Pharmacy: Pharmacy stored located inside the Hospital area to serve the patients who came to hospitals.
- Chain Pharmacy: Pharmacy Stores operated by one company and serving at multiple locations with the same brand name.
- Township Pharmacy: Pharmacy Stores located inside the township to serve the people of the township.
Register your company (Firm) as per your requirement. The following can be a probable option
- Proprietorship Registration
- Partnership Registration
- One person company Registration
- Private Limited Company Registration
- Limited Liability Partnership Registration
Step 2: Tax Registration:
- GST Registration required.
Step 3: Application for Drug license:
To start a Pharmacy Store, Central Drug Standard Control Organisation, and Sate Drugs Standard Organisation issued drug license. The application process now becomes so easy as it is now online, once you applied online, you have to go office once for verification, and then a concerned officer comes to your place to verify all requirement for the issuance of drug license. All this process usually takes 07 days.
The requirement for Drug License:
- Area: The minimum 10 sq meter area is required for a Pharmacy Store.
- Storage: Many dosage forms required specific storage conditions, so the store must-have a refrigerator, air conditioner to provide the required temperature and humidity.
- Technical Staff: Registered Pharmacists approved by PCI (Pharmacy Council of India) must be present at the time of sale throughout the working hours.
- Documents: Requirement of the document is vary from state to state.
- Application form in the prescribed format.
- Covering letter with the intent of the application signed with the name and designation of the applicant.
- Challan of fee deposited for obtaining drug licenses.
- Declaration form in the format prescribed
- Key plan for the premises
- Site plan for the premises
- Basis of possession of the premises
- Proof of ownership of the premises, if rented.
- Proof of constitution of the business.
- Affidavit of non-conviction of proprietor/partners/ directors under the Drugs and Cosmetics Act, 1940
- Affidavit of a registered pharmacist or competent person working full time
- Appointment letter of registered pharmacist/competent person, if the employed person.