Wednesday, August 6, 2014

Establishing A Business In Pharmacy

By Imelda Reid


Everyday, people need medicine to be able to remedy their injuries and ailments. Aside from medicine, people also need items for personal hygiene and health care. For this matter, opening a drugstore would be profitable for businessmen wanting to venture in this field.

Several things are to be checked when opening one. An entrepreneur who wants to start an Ocala Pharmacy will need to consider several points to benefit from it. Legal documents are required to be submitted to several branches of Government for the drugstore to be granted permission to operate. It will also ensure that the business is registered with the proper authorities. A good way to do this would be to contact the local Chamber of Commerce to know what important papers are needed as different regions have different prerequisites.

When licenses have been secured, the money that the owner will invest as capital will also determine what type of drugstore he can start. It can be a franchise drugstore from a known company. Also, he can initiate a new and independent one but it would usually require a larger amount. Whatever the case, the owner can obtain a loan from his local bank to get the sum he needs.

It would be an advantage if research and inquiries can be made regarding the presence of competitors in the same location. He will be able to evaluate and compare the pricing and marketing strategies of each store. That way, he can also make a business plan of his own and enact it the way he seems financially rewarding without compromising other aspects like quality.

Most households usually have higher demands for medicine compared to business offices and other places. For this, it would be better if the drugstore is located within a residential community. People live in this communities and will stay at home most of the time whenever they are sick or injured.

Inventory for products to be sold needs to be ordered once the owner already decided where to put up his drugstore. He must also purchase shelves where the products are to be displayed, computers for accounting purposes, and cash registers. These items can be bought using the capital he invested.

He will also need to hire a number of licensed medical personnel, cashiers and stock clerks. The pharmacist will be the one responsible for selling the right medicine to the consumers. The cashiers will be responsible for the collection of payments for the products sold. Stock clerks will ensure that the shelves are stocked with products. They may also be responsible for deciding if additional stocks need to be ordered.

Security of the employees and consumers should also be considered as top priority. With this, the owner will have to hire several security personnel to enact this. Security personnel will patrol the establishment during business hours and during closing times. Also, he may want to install security cameras inside the store to prevent stealing.

The businessman can publicize the opening of his drugstore through several forms of media, such as newspapers, radio, and even television. Marketing strategy can be utilized, like promotional gimmicks, encouraging consumers to buy commodities from the drugstore. Most importantly, good quality customer service should be practiced as this will be a big factor in determining the success of any business.




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