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What is Pharma Franchise Model? A blog about how franchising works in pharma.

In this article I will tell you about the Pharma Franchise Model and how it is different from other franchise models. Along with Pharma Franchise, I will drop you some basic knowledge about the entire franchise model. Franchise marketing meaning varies from industry to industry. A franchise is a model of distribution and represents the most common business structure that enables the franchisor to capture recurring business from their franchisees. The franchisees are then able to earn profits from the same set of rules, systems and standardized products sold by other franchises across the country. In today's world of marketing, franchising has emerged as a lucrative option for new ventures as it simplifies and streamline the process of starting a business. With so much advanced equipment, efficient manpower, trained professionals etc., many entrepreneurs find it financially rewarding to take up a franchise business. What is Franchising? Franchising is a business strategy that involv
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Pharmaceutical Retailers

Pharmaceutical retailers deal into retailing of pharmaceutical products. They are in direct contact with patients or their caretakers. Pharmaceutical sector is regulated sector. Pharmaceutical Manufacturing, marketing, distribution and retail all is regulated through drug and cosmetic act & rules.

For becoming pharmaceutical retailer, one should have retail drug license from drug department. For applying for retail drug license, applicant should have fulfilled predefined requirements and documents.

Pharmaceutical retailers are Chemists, Drug Stores, Pharmacy Store, and online Pharmacies etc. There are little bit different between all these pharmaceutical retail businesses.

Pharmacy stores are the pharmaceutical retailers who employ the service of registered pharmacist and are engaged into compounding, preparing and dispensing of drugs against prescription of registered medical practitioner.

Chemists are the pharmaceutical retailers who employ service of registered pharmacist but don’t engaged in compounding and preparation of drugs, only engaged into dispensing of pre-packed drugs against prescription of registered medical practitioner (in case of OTC, without prescription).

Drug stores are the pharmaceutical retailers who do not employ service of registered pharmacist

Online Pharmacies are the pharmaceutical retailers who employ the service of pharmacist and engaged into online selling of drugs against prescription of registered medical practitioner (in case of OTC, without prescription).

General Requirements for Pharmaceutical Retail Business:
  • Premises and Shop: Minimum of 10 Sq. Meter areas
  • Registered Pharmacist
  • Retail Drug License
  • FSSAI registration (If deals in food and dietary supplements also)
  • Shop Registration
  • GST Number (If turnover above 40 lakh annually or compulsory for online pharmacies)

Read Related: Difference between Drug Store, Druggist, Chemist and pharmacy

Documents required for Applying for retail drug license:
  • Application form
  • Fee Receipt
  • Pharmacist appointment letter and qualification & registration documents of registered pharmacist
  • Shop possession proof (Ownership proof or rent agreement)
  • Affidavits of proprietor/partners/directors and pharmacist
  • Blue print/layout of premises etc
  • Refrigerator purchase bill
  • Other documents whatever asked by drug authority

Hope above information is helpful to you....
For any query and suggestion, mail us at pharmafranchiseeehelp@gmail.com
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