Entrepreneurship Opportunities for Pharmacists

  All my dear pharmacy college going students, I happen to meet a lot of you at various different forums and one thing which I observe is that, a lot of you are now interested in being an entrepreneur and start your own business. So I just thought of making you aware of some of the business opportunities that you have other than opening a medical store. So for this week I am going to mention 3 other business options other than chemist / medical store that you can venture into after you qualify as a Pharmacist.

C& F agents/ Super Stockist: They are basically middlemen who buy stocks from company and then sell these stocks to Distributors / Stockist. C& F agents are in-charge of supplying goods in state or few districts in a state. C& F agents/ Super Stockist after receiving the goods from the factories, stock these goods in their warehouses. As soon as he receives orders from the company office or from representative appointed by the company he dispatches the goods through authorized transporter. He also is responsible to maintain records of, receipt and dispatch of goods and maintain proper stock at the warehouse. In order to start this business one needs owned or rented storage godown facility with all requisite facilities, proper licenses, adequate staff for billing and delivery, he shall in some cases assist the company in expanding business in his territory and provide requisite feed-back which would facilitate  growth of sales in the assigned territory.

Distributors / Stockist: They are also middlemen who buy stocks from C& F agents and then sell these stocks to retailers (medical shops). Distributors are appointed district or city wise and are responsible of supplying goods to retailers in that district or city. After receiving the goods from the C& F agents, distributors stock these goods in their shops and as soon as he receives orders from the retailers he dispatches the goods. Alternatively a retailer can also come to distributors shop and purchase the goods. Distributor is responsible to maintain records of the receipt and dispatch of goods as he may require it to produce to Drug Inspectors as and when asked for. In order to start this business one needs owned or rented shop with all requisite storage facilities, proper licenses, adequate staff for billing and delivery. He shall assist the company in expanding business in his area and provide requisite feed-back to company representative which would facilitate growth of sales in the assigned territory.

Repackaging: Repackaging business involves packaging of original bulk packaged medicine into smaller, safer and simpler type of packaging. In order to start this one needs to get proper licenses. The major advantage of this business is one needs less investment (only packaging machines required) also no Formulation & Development required as no manufacturing is going to take place. Example of items that can be repacked includes castor oil, boric acid, liquid paraffin, clove oil, turpentine oil, rose water, hydrogen peroxide and many more. You can even diversify further in repackaging of food products. Paras Chemical Industries is one of the organization engaged in repacking and trading Pharma Chemicals and Solvents. Do visit their website for more insight.

Thank you, all the best!

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