Requirements to set up a Pharmacy: Everything they haven’t told you

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Investing in a pharmacy requires a very good investment, but its return will be just as generous. If you are thinking about it, we invite you to read Requirements to put a Pharmacy: Everything that they have not told you.

With this quick and easy read, you can learn much more about this successful business, keep going.

Requirements to set up a Pharmacy

In the past, starting a pharmacy was easy, usually this business was a family legacy.

Currently academic knowledge related to specialized chemistry is necessary, even if it is a franchised business. Additionally, you must comply with a series of conditions and documents.

Among them, we can name the territory, the premises and the facilities, the operating notice, the degree of professional in pharmacy and of course the Sanitary License.

In relation to territory, the ordinance establishes that There must not be within 250 meters of the radius other pharmacies

Referring to local to carry out the activities and its facilities, the provision of spaces must be taken into account, which allow the offer of services in a comfortable way. The law requires a space of at least 100 square meters, including the toilets and the storage place for the merchandise.

Regarding the Operation Notice, It represents authorization to start operations. It is issued by the competent health authority Cofepris, according to the urban, health, hygiene and environmental laws of each region.

Upon presentation and verification of:

  1. The request for notice to open the establishment.
  2. Proof of being registered in the Federal Taxpayers Registry.
  3. The simple photocopy of the identity document of the owner or of the person who acts as legal representative.
  4. If the owner is not the one who does the management, whoever represents him must have a power of attorney.
  5. The form for the change of circumstance, when there is a change of owner or address.

The requirement by law of the pharmaceutical professional title, is a very important factor, so much so that if the owner is not a pharmacist, a licensed staff in the area must be hired full time, that is, a graduate in pharmacology, this condition guarantees the correct distribution of drugs.

Last but not least, the sanitary license, that validates that the business has met the requirements for the sale of drugs.

Necessary documentation

Simply put, the documents required for the operations of a pharmacy can be found in the Sanitary license.

For the request for issuance of this license, the following documents must be submitted:

  1. The permit, inspection and title form, completed correctly.
  2. Proof of payment for the issuance of the license.
  3. The business incorporation document, or the power of attorney that authorizes the attorney-in-fact.
  4. The valid identity documents of the owners and / or authorized.
  5. The federal registry as a taxpayer.

For the update or revalidation of the license, annexed to the previous documents, the license to be updated must be presented.

The application process must be done in person at the commissions of each state that are in charge of Protection with Sanitary Risks. It does not have an expiration date, however it depends on frequent inspection by the issuing entity.

In addition to the Sanitary License for the pharmaceutical center, it must have:

  1. The Land Use Permit.
  2. The authorization to display advertising or place advertisements.
  3. The industry patent registration.
  4. Inscription or registration in the Treasury and Public Credit.
  5. Register as small taxpayers, in cases where sales are for the general public.

In the event that articles for personal hygiene or beauty products are to be sold in the facilities, it must be specified in the request.

How much money do I need to start a Pharmacy?

The amount of the investment to open a pharmacy even when it is subject to some variables, which we will expose below, must have a robust investment.

It is very common today, to choose the alternative of buying a Franchise. This business model makes it easier for you to take some steps, because in addition to being approved, it has the backing of an organization, which will transmit its experience to you.

With this option, the investment varies significantly from one franchise to another. There are cases, where you pay the franchisor to supervise the development of the business. This advice can be between US $ 200,000 to US $ 500,000.

For less than $ 100,000, you might just buy the franchise system and name.

Another cost to take into account when deciding to open a pharmacy is related to the local and its location. Being very substantial, the amounts to invest for the purchase of a building or the construction of one. Acquiring land in a privileged area can cost more than US $ 1 million.

While to rent a premises, between US $ 2,000 to US $ 10,000 per month will be required, depending on the area.

We cannot forget that they must buy the products or items to offer. This inventory is very likely to be a large investment, at least, for the opening of the pharmacy.

Although that depends on what the owner wants to invest for merchandise in stock, which is currently not very common, since with the development of fast and secure delivery systems, inventory is no longer mandatory.

Other amounts to take into account are those related to the staff salaries and they will be subject to the number of people working. Also the investment in an automated or computerized system, either for inventory control or for the issuance of invoices, among others.

It should be noted that the amounts supplied are approximate and must be analyzed when establishing the pharmacy.

Benefits of having a pharmacy

Just as the investment is robust, the profits that are generated can also be, because people always go to pharmacies, in search of medicines or other personal hygiene products and others that they offer there.

According to investment analysis experts, the pharmaceutical sector historically is one of the most lucrative businesses.

In the future, they have excellent expectations. Assuming that by law of life, people age and require more often the services and products of a pharmacy.

Also that we remember that The investment to start is substantial, which removes the danger of immense competition.

Medicines are generally better known by the brand name than by the active ingredient that makes them up.

Due to the size of the pharmacies, these they benefit from large economies of scale.

The results of economic studies of the sector indicate that the return on investment can be constant in a percentage greater than 20%. Managing a profit margin greater than 75%.

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Then you will enjoy an excellent presentation related to the constitution of a pharmacy

Success!

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