Admin Table of Contents
What is the minimum area required for medical store?
One needs ownership proof and/or rental agreement of premises with a minimum area of 10 square meters for starting a medical store business or outlet dealing in wholesale. In case the person wants to combine retail and wholesale, then a minimum of 15 square meters of space is a prerequisite.
What are the requirements for opening a medical store?
Q. What is the procedure to open a medical store?
- Ownership proof of premises.
- Business constitution and registration proof.
- Affidavit of non-conviction of proprietor or partners or directors under the Drug and Cosmetics Act of 1940.
- Registered pharmacist affidavit.
- Equally competent full time working employees affidavit.
How many square feet is a pharmacy?
The average sampled pharmacy is 1,733 square feet, of which 864 square feet and 869 square feet are dedicated to the prescription department and to the front end, respectively.
What is the minimum area required for hospital pharmacy in feet?
7 Total Area in sq. ft. of proposed space (minimum space required 120 sq. ft.)
Is medical store profitable?
How much profit does a medical store make? Retail medical shop profit margins range from 5% to 30%. There are different margins for each type of product, such as profit margins for trapped products, generic medicines, OTC (over-the-counter) medicines, branded prescription products.
How do I start a generic medicine store?
How can I open a generic medicine shop?
- Procure a license from the office of the local Drug Control Authority.
- Hire a pharmacist having D.
- As an NGO or co-operative society, you can approach the Bureau of Pharma PSUs of India (BPPI) to recommend you to run a generic medicine shop in the premise of any hospital.
What is the size of medical store?
Area: The minimum area of 10 square meters is required to start a medical shop or pharmacy or wholesale outlet. In case, the pharmacy business combines retail and wholesale, a minimum of 15 square meters is required.
What is the investment for medical shop?
The minimum investment needed to start retail, medical store in small towns and semi-urban areas is approx Rs. 3 to 4 lakhs. The minimum investment required to start a wholesale business is approx Rs. 7 to 8 lakhs.
How much floor space is required for the store in 200 bed hospital?
It depends on the construction model of the hospital. The total area of a 200-bed hospital is 49 m(2) and the length and width of the store room might vary. The area assigned to the storeroom might be different for public health services and the hospital owners.
Is medical shop profitable?
How much margin is a medicine?
According to the official, chemists and wholesalers often charge 400-500% margin on medicines which are already exorbitantly priced.