One good thing about this country is there is a market for almost any kind of legit business. The only thing are you ready to work towards achieving your dreams or goals.
Well, understand that any legit business you’re able to start and build over time will certainly grow in a big one. The only secret is showing up and be consistent with it.
Recently, I was with one of my senior friends, a pharmacist who owns a big pharmacy business here in Nigeria. One thing led to another and he told me how was able to start and build up his business.
Why Do You Need To Start A Pharmacy Business?
This country is the most populated black nation in the world and the number is still growing every day. And the sad story about this is that the health sector can’t cater to the health demand of the population.
This has led to the establishment of more hospitals and pharmacies by government and private individuals and they are not enough because of the high rate of diseases that spreads every day. And this is where you come in to render your services as a pharmacist by starting your own pharmacy business. Apart from rendering your service, you’ll make money by providing solutions.
Steps of Starting Your Pharmacy Business
1. Register Your Business
The first thing you need to do is register your business with the bodies charge with the responsibility of regulating the running and operations of pharmacies. You need to follow due process to avoid putting your business at any risk.
Moreover, understand that for you to start your own pharmacy business, you need to be a certified and qualified pharmacist or you employ one for the smooth running of the business and to avoid being in any trouble with the government.
2. Decide On Your Location
You need to decide where you want your business to be located. Choose a location that will be accessible to people and where they can easily remember. Because being in the wrong location will affect your sales badly and it won’t be good for your business.
So you should locate your pharmacy close to a market, hospital in your area and that’s an easy way to get customers.
You can locate your business in a residential area and make sure it’s close to a busy road for more accessibility and visibility. Do remember not to locate your business close to a big pharmacy, because it won’t be healthy for your new business.
Have in mind that your business will be inspected by PCN, “the official body regulating pharmaceutical operations in Nigeria.”
3. Buy the Necessary Things
You need to buy some necessary things that help in the smooth running of your business. And they include the following:
d. Cash registers
e. Computer systems
f. Generator for power supply
Neatly arrange your shop to allow easy movement.
4. Stock Up
A pharmacy shop without drugs can’t be regarded as one. So, you need to stock up your shop with drugs dully approved by “NAFDAC and NDLEA,” to avoid being in any trouble. Before you accept to buy drugs from any supplier, do some background check on the person to be sure who is dealing with.
Also, make sure that the drugs you buy are of high quality because when people start to know you with that. They will certainly refer their friends and family to you and that’s more money.
5. Employ the Right People
Having the right people as your staff will grow your business. Reliable people trusted and qualified. This is very important because the success of your business depends on them especially if you’re not always around. But being a new business, it’s advised you stay there and monitor things till everything kicks off very well.
You need the following people in your team:
i. A pharmacist
ii. A Cashier, who receive the money paid for drugs
iii. Sales Reps that are experienced and know the different drugs to sell.