How much does it cost to open a medical store?

[Reedex]

Opening a medical store is a business that requires huge amounting of capital to start up but you must also have an experience about it.

 

[RicAngelo]

if I have a lot of capital now I will do properties instead of the medical store (because I don't have knowledge about it) I do not want to do something that I don't understand

 

[Niyi Briggs]

The licensing to operate a medicine shop in my country is very expensive to get. But not everyone can run the business. Licenses are given only to medical professionals.

 

[cherry123]

This is a business that requires too many licences which are very expensive everywhere.business of selling medicine is actually profitable but you need a good capital to kick start it

 

[RicAngelo]

I think in my country the license is really expensive too @cherry123 @Niyi Briggs and again this business is not for everyone, having big capital does not make us pass the requirement

 

[IB D]

Drugs business is very lucrative. Some of those drugs are heavily subsidized by voluntary organizations. But it is not easy to start from the legal point of view.

 

[Bisolami]

First you need to have a license to start a pharmacy

The licence is what everybody should work on and it might be quite expensive but it depends on the country

 

[Niyi Briggs]

What qualifies you to even seekna license to run a medicine shop is your profession license either as a pharmacist, nurse or medical doctor. So that if you mess up, they can revoke your operational license.

 

[RicAngelo]

so, this kind of business is only run by a pharmacist, nurse, or medical doctor who has a license in this industry and there is no chance that people who do not have an educational background to run this business?

 

[Hate2Wait]

The licence is what everybody should work on and it might be quite expensive but it depends on the country

Yes you need a license and education and money to start such a business plus you need to rent or buy a store

 

[jetsaints30]

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?

Starting a medical shop can be a profitable business, but it needs significant capital investment and a complete understanding of the industry.

 

[Sanjeev]

I agree that you should know about the medicine otherwise you won't get a license to start a medical shop here. It's profitable because there is lots of profit margin on the medicines.

 

[Stardom22]

In my country the cost for opening of the Medical store bis extremely high. This is because there are so many licensing and documentation required by you to the government for them to give you the approval plus the capital for the business.

 

[Starmix]

You must be a licensed pharmacist but I don't know the protocol in your country ours here must be a licensed pharmacist. You need million capital. You need to have a bond for this business.

 

[Sanjeev]

I think getting a license to start a business is mandatory all over the world. They should know the basic knowledge of the medicines so that they may not give wrong medicine to the people.

 

[Hate2Wait]

Every business needs experience but for this medical store you also need the required knowledge, education and license

 

[Heatman]

First you need to have a license to start a pharmacy

This is absolutely correct because without the licence you will not be legally allowed to start a pharmacy business.

If you do that without a licence, you are liable to be jailed.

 

[Niyi Briggs]

If you want to do drugs business as a non medical person, it would cost you more money as you would have to pay a medical professional heavily to use his or her licence to operate.

 

[Chibson]

The cost of opening a medical store in this part of the world depends on the size. Firstly, you must be a medical practitioner and you must go through the necessary registrations. You also need a good location. I think with about $1000 you can start it here.

 

[Ovy]

The expenses to start a medical store differ depending on factors like size and location. It can range from a substantial amount to a significant amount (depending on your currency). Costs involve licenses, rent, utilities, staff salaries, and initial inventory. Developing a detailed business plan is essential to estimate expenses accurately, and local regulations and market conditions can influence the overall investment needed.