Running a Pharmacy as a Business Idea

Golden9

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This is a very lucrative business here in Nigeria, although it needs quite a lot of investment to start up. You need a busy location, staff and then some clever promotion tactics since advertising is not allowed.

 

Shavkat

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It is a good business because people usually need medicines to be cured. They are the ones who can provide this concern.

 

Magnus2022

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Pharmaceutical business is not a business you can start without licence. Drug business is highly regulated in Nigeria. Secondly, you must be qualified to practice dispensing drugs. Without licence and qualifications, you can end up putting yourself in trouble.

 

eldavis

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Running a pharmacy is a good business, but you actually need the qualifications to be able to do this, or you simply need to hire someone who has the needed qualifications.

 

uptrendfinancialsignal

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All the pharmaceutical stores in my locality are really making a huge profit because drugs is always in high demand.

 

Hate2Wait

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These days pharmacies are facing a tough competition from big players like Amazon and other platforms that deliver online but still it's a very good business

 

Heatman

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Golden9 said:

This is a very lucrative business here in Nigeria, although it needs quite a lot of investment to start up. You need a busy location, staff and then some clever promotion tactics since advertising is not allowed.

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There is no form of business in the world that doesn't require advertising because it is the best way to get customers to know about your business.

 

LoukiaCharilaou

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It is a very profitable business indeed but in my country, you need a licence and skills in order to start this business.

 

relcap23

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Running a pharmacy requires huge investment. Most important is one must have a licensed pharmacist. It's more profitable for practicing doctors to have one because it's already a package deal.

 

uptrendfinancialsignal

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relcap23 said:

Running a pharmacy requires huge investment. Most important is one must have a licensed pharmacist. It's more profitable for practicing doctors to have one because it's already a package deal.

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It is true that this type of business requires huge capital to kick-start

 

Niyi Briggs

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You need a lot of licensing to set up this business. There must be a license from a recognized pharmacist for you to start the business. It requires a lot for a non pharmacist to be able to start.