How do I start a drugstore business in the Philippines?
Putting Up A Drugstore In The Philippines
- First, look for an ideal location.
- Get your business name registered.
- Hire a pharmacist.
- Get the list of requirements from FDA (Food and Drug Administration).
- Study your market to determine the ideal product assortment.
- Hire capable personnel.
How much does it cost to start a pharmacy business in the Philippines?
The total cost of opening a pharmacy in the Philippines will depend on several components, but a minimum capital of 200,000 – 300,000, Pesos is often required. In addition, business owners may wish to include additional capital as an emergency fund.
How do I register my pharmacy in the Philippines?
- Notarized Petition Form/Joint Affidavit of Undertaking duly accomplished.
- Tentative list of products using generic and brand names, if any.
- Floor area not less than 15 square meters;
- Generic white labels.
- Dry seal or rubber stamp of outlets.
- Pharmacist Registration Certificate.
How much does it cost to set up a pharmacy?
It typically costs $400,000 – $600,000 to open your own pharmacy. The average monthly operating expenses for a pharmacy total around $30,000. As a new pharmacy establishes itself, it may not be able to fill enough volume to pay the operating costs each month.
How much is the franchise of Generika in the Philippines?
How much is the franchise fee itself? The franchise fee, payable to the Franchisor, P210K. It is a one-time payment which is good for the entire duration of the franchise (5 years). Franchisor to validate the prospect site, and for other research deemed necessary by Generika Drugstore.
Can you franchise Mercury drugstore?
Sadly, Mercury Drug is not open for franchise, all of its branches nationwide are company owned.
How do I start my own pharmacy business?
How to Start a Pharmacy Business in India?
- Fulfil eligibility conditions. To open a retail drugstore, you must own a minimum area of 10 sq meters.
- Type of pharmacy. You must choose a type of pharmacy business.
- Register your store.
- Get a drug license.
- Get GST registration.
- Explore funding opportunities.
How much do pharmacist make in the Philippines?
The average pharmacist salary in Philippines is ₱ 291,000 per year or ₱ 149 per hour. Entry-level positions start at ₱ 270,000 per year, while most experienced workers make up to ₱ 420,000 per year.
Is pharmacy a profitable business?
The retail pharmaceutical business is a very lucrative business with the ability to generate a lot of profit. The pharmaceutical market in India is at a CAGR growth of 15% in retail sales throughout the next five years.
Is opening a pharmacy profitable?
The profit margin in offline pharmacies typically ranges between 15-26% for branded medicines, which may go up to 40-50% in the case of generics. Even with offering 12-80% discounts to attract customers, franchisors ensure that their franchisees gain more than 15% margin.