Hi,
I work as a consultant but i have always had the keeda to be an Entrepreneur 🙂 . I am planning for a pharmacy startup and appreciate your inputs regarding the approvals required for this startup.
Although Initially the ideas was to start a Generic medicine store but based on the feedback i have received from current generic medicine store owners in Telangana region, it would be tough to survive as people are still not comfortable with generic medicine usage. So the idea is to start with regular pharmacy and create awareness in customers about generic medicines and provide them generic medicines as well.
How would it be different from existing pharmacies ?
1. Maintaining database of customer who use same set of medication on a regular basis and providing home delivery. Today in every households our parents/grand parents/sibings etc. are regular users of certain medication. The idea is to reach out to them and deliver their medication at their door step.
2. Keeping profit percentage to bare minimal. It is a known fact that the retail pharmacies charge a good percentage of profit and just by demanding some pharmacies give us 10% discount, so obviously their profit percentage is no less than 30-40.
3. Promoting Generic medicines.
Please let me know the roadblocks that you see with this startup and also suggest the process to get the required approvals.