How much does it cost to open a medical store?

[eldavis]

I dont really know though, but i know for a that that it would definitely cost a lot. Besides actually opening the store, it would cost you some capital in terms of getting the necessary documents for the business.

 

[Imran Noori]

First you need to have a license to start a pharmacy

I think license is important before starting every business.

 

[SHAHID987]

Due to costly medicine now it has been somewhat difficult to open a medical store here. We do have the credit facilities but after all at least we need 2000$ to start it.

 

[Hate2Wait]

You need to complete the required education and training and then you are good to go

 

[Golden9]

After having a license then what would be the approximate cost to start this business.

In my country, a small scale pharmacy would cost about $10,000 at least to star, from the licenses to the purchase of drugs and the premises. It's lucrative but it's not easy to start.

 

[Hate2Wait]

Yes it'll be expensive to start with it as you need to either rent or buy a store and other furniture and fittings after acquiring licence

 

[Raja]

Online pharmacy websites and apps are challenging but still many people like and prefer offline stores

 

[Passiveearner]

I have noticed that there are lots of profit margins in selling medicines. We have a shop nearby our home who gives discount of 10-15% on MRP. They must be having a profit margin more than this.

I think it's a lucrative business but don't know how much money is required to start this business or open a medical shop. Anyone has an idea?

I think that opening a medical store will depend on how much stuff or products you are willing to purchase and keep as stock. There are many medical store owners who keep a huge amount of products and they have a huge collection as well.

 

[RicAngelo]

In my country, a small scale pharmacy would cost about $10,000 at least to star, from the licenses to the purchase of drugs and the premises. It's lucrative but it's not easy to start.

Thats a huge money, its not business for everyone but sure its profitable business, Though

 

[Yugocean]

Medical store needs licence, but if Jholachaap, then I won't advice for the sake of humanity.

 

[Sanjeev]

Thats huge money, its not business for everyone but sure its profitable business, Though

Yes, one needs huge money to invest in it but one can always take a loan from the bank for it and I dont think it would be tough to pay off the loan as there is lots of profit in medicines.

 

[LoukiaCharilaou]

I think that it is a very good idea to open a medical store because it is a very profitable business provided that you have a license and capital.

 

[funkie]

I have noticed that there are lots of profit margins in selling medicines. We have a shop nearby our home who gives discount of 10-15% on MRP. They must be having a profit margin more than this.

I think it's a lucrative business but don't know how much money is required to start this business or open a medical shop. Anyone has an idea?

Yes for sure the profit margins are high for pharmacies and medical shops, however, the capital for starting up these businesses is also very high, in my opinion, due to the purchasing of medicines and the structure of the shop, etc.

 

[Magnus2022]

Before starting a medical store you must have the knowledge even before acquiring the licence. Selling of drugs is not something you just jump into because you may endanger a lot of people's lives.

 

[Yugocean]

Before starting a medical store you must have the knowledge even before acquiring the licence. Selling of drugs is not something you just jump into because you may endanger a lot of people's lives.

If there is no proper law or authority, then anyone will use this

 

[hastral45]

You need to complete the required education and training and then you are good to go

Yes. You need to complete your training and qualified. Then you apply for approval for the license of operation.

 

[RicAngelo]

Yes, one needs huge money to invest in it but one can always take a loan from the bank for it and I dont think it would be tough to pay off the loan as there is lots of profit in medicines.

Yes, its true, but i will never loan money from the bank before make sure that the business plan and other requirement are complete and i choose the right location and market.

 

[Reedex]

A medical store is a very lucrative business and you could started the business with $3000.

 

[uptrendfinancialsignal]

Opening a medical store is a very good business to try because it's very lucrative.

 

[RicAngelo]

and also we have to fullfil several things to open it, right? so its not like small shop who sell daily needs, we cant need permission to open it but opening medical store we need that kind of licence, though and its not easy to get it (correct me if i'm wrong)