Pharmacy business like an online pharmacy store is one popular medical business amongst many businesses whose potential is yet to maximize profits in the Nigerian market. The reason for this is simple! because only few of these profitable ventures exist. It’s understandable that one needs to be a Certified Pharmacist in other to be able to run such a lucrative business, but that isn’t a problem. You can employ the service of a reliable pharmacist and have him or her paid at the end of every month while you, the real entrepreneur take the largest portion. This is why we have taken our time to write on Fast ways on Opening a chemist shop in Nigeria.
Before writing this article, I did a little digging and the result was amazing. Every day, workers from all walks of life return home, with feelings of headaches, cold, stomach ache, cough, and in extreme cases, migraine. While some prefer to sleep through it, others prefer to locate a place to buy drugs and stay healthy. The least thing any one of them wants to do is to walk into a hospital because hospital bills are usually expensive. This is why the pharmacy business very profitable.
In fact, the existence of hospital around the location of your business isn’t a curse or bad thing but a blessing or goldmine. Why? because you’ll be getting a lot of referrals, especially when the hospital is out of stock. In this article, let me guide you on how you can start a lucrative pharmacy business in Nigeria by opening a chemist shop in Nigeria. Remember, you don’t need to be a doctor, a pharmacist or medical practitioner to do this business. But if you’re a pharmacist, it’s an added advantage.
STEPS TO FOLLOW ON OPENING A CHEMIST SHOP IN NIGERIA
- REGISTER YOUR BUSINESS
Before you can start a chemist shop or pharmacy business, you’ll need to register your business with official bodies.
You might be asking, “Why do I need to register the business?”
Because drugs can be abused easily, rules guiding the sale of drugs have been put in place by relevant bodies of Nigeria. If you dare start a pharmacy business without first registering the business with the Pharmaceutical Council in Nigeria (PCN), you might wake up in the wee hours of the morning only to find yourself locked up in jail while facing multiple charges.
Not only that, there’s also a need to register with the Corporate Affairs Commission (CAC). The benefits of carrying out these two steps cannot be overemphasized. When all legal paperwork have been properly acquired and documented, you can then go ahead and establish your pharmacy business.
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- GOOD BUSINESS LOCATION
Like every other small business, a good business location is needed if truly you want to optimize the profit potentials in your pharmaceutical business. You need a location where there are hospitals. A place of high human traffic is also a good choice. If you live in a community where there’s no chemist shop, you can go ahead and start-up this business. By solving a problem, you receive monetary benefits.
I’ve witnessed a lot of individuals start lucrative businesses but because their business was not located in the right environment, they end up frustrated and bitter at the end of the day. It’s not because they weren’t presentable or experienced, it’s because they broke one of the essential rules in business which is situating your business where your target market are present. Be sure to obey this rule in every of your business ideas and plans.
- TOOLS AND MATERIALS
When you’ve gotten a space, the next step is furnishing your shop into something simple, neat and classy. It’s very important that you get a huge space so that customers can walk around freely when trying to locate a dug on your store. Below are most of the tools you’ll need to successfully run a pharmacy business.
- Cash register etc…
The above tools are the basic materials needed for startup. If you’re financially capable, then get an air conditioner, a Wall Television with lots of medical to stickers, calendar’s and stands to make the outlet look attractive, reliable and professional.
- STOCK UP YOUR PHARMACY
You need to connect with a trusted drug supplier with proven records of supplying safe drugs that are NAFDAC and NDLEA approved. The sale of quality drugs is the first step in keeping existing customers and attracting more potential customers. Pharmacy business is best when it’s highly trusted. That’s why many pharmacists prefer to buy a franchise. With that, they are working under a brand that’s already trusted with huge customer base.
If you’re starting as a beginner, make sure you try your best to stock up your store with good quality and safe drugs. Before you settle for a drug supplier, do your homework well to avoid regrets later.
- EMPLOY QUALITY STAFF
If you’re not a doctor or pharmacist, I recommend employing someone who’s certified with years of experience. If perhaps you are a pharmacist, you also need an assistant who will be able to stand in the gap whenever you’re not around.
Not only that, you might also need to employ people to fill the positions listed below;
– A stock worker
– A manager
– A security guard
– A pharmacist
– An accountant
– A cashier
CREATING AN AWARENESS FOR YOUR PHARMACY BUSINESS
You need to run a lot of advert and promotional strategies like twitter ads, Facebook ads or LinkedIn ads to stay on top and make substantial income from your chemist or pharmaceutical business. If there are some hospitals around, you can actually make them an alliance; an offer for a referral in return.
Having an attractive banner, logo, blog, and website or sign post is an added advantage because it leads new and potential customers to your location. Don’t overlook simple acts; it can give your business the exposure it needs.
Pharmacy business is a lucrative business that anyone can do in Nigeria or anywhere in the world. If you want a more detailed business plan on opening a chemist shop in Nigeria, CONTACT ME and it will be provided for a little fee. If you’ve any question, use the comment box and I will respond immediately. Do not forget to subscribe!