How to start online pharmacy? 10 things to do before start online pharmacy


Online pharmacy is a platform that enables consumers to purchase medicines, health supplements and nutraceuticals. The most vulnerable sector in terms of medications, elderly citizens, have found ease of access and convenience of getting medicines delivered at the doorsteps very convincing. So, lets down to figure out what takes to build a successful or profitable online pharmacy.
1.      Type of online pharmacy?
There are basically five types of online pharmacies in India bases on pricing policies.
·         Generics online pharmacy
·         General medicines online pharmacy
·         Online Ayurveda pharmacy
·         Nutritional supplements pharmacy
·         Online Apothecaries (Allopathic)
Do your research before you decide on which type of online pharmacy you plan to establish. Study the pros & cons and the competition level in each type.
2.      Business plan
A plan is a mandatory element for any business to establish. An organised and clear cut summary will help to execute the thoughts easily. A business plan outline will comprise of chapters like Executive summary, Company summary, Products, Market analysis summary, Strategy and Implementation summary, Web plan summary, Management summary and Financial plan. This will work as a handy document to take a correct lead in every step. Some of the questions addressed in the plan include:
·         Name of the business
·         Costs involved in opening an online pharmacy
·         The ongoing expenses for an online pharmacy
·         Method of making money through online pharmacy
·         Charging amount of customers
·         Possible profit made of online pharmacy
All this will help you to realise whether you can run this business or not, with possible obstacles in the market.
3.      Fill in for licenses
The two main authorities, Food & Drug Administration (FDA) and Food Safety & Standards Authority (FSSAI) should issue licence to open a legal online pharmacy. The company may need licenses from state and local authorities like municipalities and village panchayats or district administrations.  Some of the licences include Shops & Establishments Act, trading licences, warehousing licenses, Goods & Service Tax Identification Number (GSTIN) and other permits.
4.      Being legal
Establish a legal entity like Limited Liability Company (LLC), to prevent being personally liable in case your pharmacy is sued. Many other business structure choices are available including Corporations, LLC and Doing Business As (DBA). Also consider using a registered agent service to help protect the privacy and stay complaint.
5.      Business bank account and credit card
A dedicated business banking and credit accounts is essential for personal asset protection. Also be easier to keep account of detailed accounting that simplifies annual tax filing.
6.      Local pharmacies tie up
The online pharmacies usually will tie up with the local chemist stores. The prime importance is negotiating with the companies and distributors.
7.      Courier arrangement
Make arrangements with the courier companies to channelize pick up prescriptions from customers to deliver of the same at the earliest. This may involve extra charges for two-way service, pick up and drop.
8.      Website and App
With the invasion of tech, features like website and apps go handy for any business. Nearly 70% people prefer buying online in India through smart phones. Design an excellent e-commerce website to sell your medicines. Providing an app for online pharmacies require some kinds of government clearances. Chat mode feature in these will make room for instant enquiries about the availability of a medicine and uses of the same. Promote your app as the best medicine app in India.
9.      Staff
Recruit staff who can function efficiently throughout the process from checking the received prescription to delivering the same to consumers.
10.  Go digital
Promote the business online to popularize among people. Choose right social media platform to connect with your target customers. Allow the trend elements like hashtag to let people be aware of your motive. One such hashtag could be #24hourmedicinehomedeliveryDelhi.
Ending note
To put an organised and legal business in India requires lot of clearance and licensing. Make sure to avail all necessary elements before settling the marketing ideas. Don’t give any chance or reason of complaint when you chose to run the business especially in the online world. Online can put a company up in a shorter pace of time and at the same time can bring it down when fail to work properly. Therefore, every step and every act accounts to your business journey, be cautious. 

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