A Beginners Guide to Start an Online Pharmacy in indiaby PillsBills Pharmacy India’s 1st Online Specialty Pharmacy
This is just a beginners guide on how to start your own online pharmacy in India. This guide does not contain all the aspects but most of them are covered in this section. So, let's start
Starting from the very beginning and not going to in the depth, first, we need to understand what this business is all about.
A rough figure says that in India, 50-65% of people do not have regular access to essential medicines and an online pharmacy is a bridge to connect these people to their essential medicines over the internet. They provide prescription medicines, OTC products, health supplements, and other healthcare products to these people via online. The owner of the online pharmacy is responsible for managing the online inventory and general customer service, communicate with the suppliers to determine which prescription drugs are best for your online customers. pharmacists (and Doctors if necessary) are required to handle the quality of the medicines and to deal with your online customers.
Who Will Be Your Target Audience
You may want to cover most of the people from your country or outside the country but it is a limitation that most people between the 30-50 age group will be your customer as they are comfortable navigating your online store, chatting online and using the shopping cart.
What Skills You Need
If you think that a doctor or a pharmacist is the only person who can start this business then let me correct you this is not the thing, you can employ qualified and licensed professionals to sell medicines online and you need to be more organized, industrious and focused. You should have some experience working with suppliers, lawyers, and insurance companies before starting your own online pharmacy.
Drug Licence in India
Drug License is mandatory from the government to deal with drugs under Drugs and Cosmetic Act, 1940.
Types of License
- Retail License
- Wholesale License
It's up to the behavior of the business what type of the license, you can obtain.
Steps to Start Your Own Online Pharmacy
Step #1. Plan your Business
Plan your pharmacy business for the following:
- Name your Business
- Target your Market
- Initial Costs
- Consider how long it will take to establish your business?
Step #2. Form your business as a LEGAL ENTITY
This will prevent you from being personally liable in case your online pharmacy failed.
Step #3. REGISTER your online pharmacy for TAXES
You should register your online pharmacy for taxes in India such as GST.
Step #4. Open a BUSINESS ACCOUNT
For the transaction, pay expenses and income you should open a business account. This will also help you in annual tax filing.
Step #5. You need BUSINESS INSURANCE
To reduce the risk of natural calamities and burglary Insurance is highly recommended for all business owners.
Step #6. Establish your ONLINE PRESENCE
An online website allows your customers to learn more about your company, the products, and the services you offer.
Ready to play the GAME?
There are some fake online pharmacies so, you need to establish your business as soon as possible. You get to know that there are some bad drug suppliers in your area, keep away from them. A business owner should know about these suppliers to keep business unharmed.
Online competition is tough so, you should stay updated with your industry to get the top position. a poor performing online pharmacy is a bad signal for you as well as your customers.
Step #7. PROMOTE your online pharmacy
It's not about the price customers always look for. You have to build trust by communicating with your customers via live chat or on telephone lines. You can use Facebook, Twitter, Linkedin, Instagram to boost your online presence. If you can spend some more then you can have Google ads.
Step #8. Keep your customers HAPPY
Provide safe, secure and standard prescription drugs on time to your customers with reasonable price and get ready to answers all the related questions this is all you can do to make your customers happy.
Step #9. Build a SKILLFUL TEAM
You need a skilled team to serve your customers and give excellent service
- A professional IT staff to maintain your data such as inventory, orders, etc.
- Professional medical staff to check the quality standards of prescription medicines.
- Professional customer executives to resolve customer query.
- A lawyer with the medical industry knowledge to give valuable advice to you.
Step #10. STORAGE for drugs
You need proper storage to keep a huge amount of drugs safe and protected.
Step #11. How much you can CHARGE for prescription medicines?
Well, it depends on the price of the medicines printed on it and the price people are paying for the same in the online market.
Step #12. EXPENSES of the online pharmacy
- Legal expenses
- Marketing expenses
- Buying Wholesale prescription drugs cost
- Salaries you will pay for your employees
- Website maintenance cost
Hope this guide will help you in starting, maintaining and successfully running your own online pharmacy in India and you will make some profit.
Created on Sep 3rd 2019 02:36. Viewed 187 times.