How to Start a Surgical Pharmacy Wholesale Business

This article will satisfy your query related to following question: how to start a wholesale surgical business in India.In Pharmaceutical industry, patient and/or its care taker is end user who will demand for a medicine and drug to pharmacy against prescription of registered medical practitioner.Pharmacy/Chemist/Retail will demand for medicines to its distributor. A distributor will get medicines from its wholesaler/stockiest. Stockiest will purchase medicine from CnF and CnF get stock from pharmaceutical Company. In this way a distribution channel works in pharmaceutical sector.

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Starting a Surgical Wholesale Business

When starting a surgical pharmacy business, it is important to choose products of the right companies. You do need to stay in touch, but the companies you need to keep. There are many companies, local as well as global. So which companies’ products you choose to keep is important. There are many local companies in each area, but I cannot talk about it because they differ according to the area, but the standard companies like Flemingo, Visco, DoctorMorepen. If you keep products of these standard companies, then 100% you will be able to sell it. It also has a good margin. If you keep local companies’ products, your margin may increase. This is a business about the margin. So, the better the company, the better the product. This is one point.

Availability of Surgical Products

The next is availability. The products which you keep, the products which are in demand in your area, should be available with you. Once a hospital orders from you, they will keep ordering from you. But, if you have a shortage, then they will shift to other distributor. So you will not only lose a valuable customer, but also reduce your turnover. So to avoid this, focus on that product right from the start. Make sure that they are available in bulk so that you can provide a good service.

Online Surgical Pharmacy Services

Next point is online services. Many consumers prefer to purchase products directly online, so you need to maintain an online presence, even if the order maybe less or more. Many of the manufacturers, distributors, retailers maintain an online presence, even consumers or patients can directly purchase online. So you can get orders directly, no need of order-boys to go anywhere to take an order. So you should create a platform, an online application. There are many platforms which provide B2B business so you can generate revenue in this way as well.

Choosing Quality Medical & Surgical Instruments

Next point is service. Whichever your product is like glucometer, thermometer etc., if there’s any issue in it or even if it is any other instrument, providing service is your responsibility. If the product is faulty, you should replace the product. Customers should be able to trust you. That’s why service is important. So service is a point which you should think of before staring the business and you need to work on it.

Documentations Required to Start Surgical Pharmacy Store

Shop Act

Now let us talk about documentation. So which all documents do you need? The first is Shop act. You can get shop act online. If you hire minimum 20 people then you can get shop act directly online or if there are more than 20 people, even that is available online but you need to go to a Shop Act registered office and spend some time on it, but both the procedures are easy. You can check it’s fees online.

GST Registration

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Next you will need GST number. Why do you need it? You need a GST number to purchase all the companies’ products. It is not the case that your turnover will always be less. Even in less investment you can earn more profit but it is not that you will continue to invest less, as time goes on, your investment will increase, which will lead to an increase in turnover.  Hence it is compulsory for you to have a GST number. So, I will recommend you to make a GST number.

Drug License

Next is the drug license. Just like pharma wholesale, even here, there is a drug licence. Actually it is not applicable to most of the products like surgical instruments, but all those which come in category of medicine needs a drug license. So I will suggest that you have a drug license, because as you will increase the variety of the products, you might need the drug license somewhere.

Essential Surgical Products

So this was all about documentation. Now let us talk about which all types of devices, products,  can you keep being a surgical distributor. I have discussed at various places, researched and found 25 products which you can keep.

• The first category is hospital surgical. All the beds in hospitals, all the instruments,  ICU beds or the general ward’s, all such instruments you can keep.
• orthopaedic implants.
• Medical disposables. In this category cotton, swabs, syringes, IV sets are included.
• diagnostic equipment that is, diagnostic equipment and products. In this category, glucometer, thermometer, BP monitor and other such devices are included.
• anaesthesia equipment, Autoclav sterilizer.
• laboratory products.  Products like reagent, test tubes can be included in this category.
• height and weight scale, like weighing machine you can keep this.
• gynaecological products. In this category items like breast suction pump, delivery pads can be kept.
• OT examination light.
• suction and machine unit.
• medical rubber product like gloves, examination globes, individual gloves, you can keep those.
• hospital halloware. Products like commode come in this category.
• infant and baby care equipment. It includes nebulizers, various types of nebulizers.
• Laryngoscope set and spares.
• emergency medical products and supplies. You can keep these.
• rehabilitation products and belts. Various kneecaps, anklet belts, varicose stockings, various stockings, all these products are included in this category.
• OT tables.
• physiotherapy equipments.
• dental equipments.
• blood collection tools. You can also keep this.
• ICU equipments even these come under surgical distributorship.
• medical refrigerator and freezing equipments.
• equipments related to blood bank.
• medical imaging.

So I have told 25 types of categories. They can be further divided into various types. You can keep all those. In general, if you keep these products, it will be more than sufficient. So this was related to products. Now let us talk about challenges. Now you can keep these products but you must be thinking this is very easy, there is a lot of margin, you can keep a variety of products, so this seems very easy, why can’t everyone do it? But there are many challenges in this as well.

Challenges to Start Surgical Pharmacy Business

Now let us talk about challenges. The first challenge is that of Credit. If you are giving products to retail stores or hospitals, it isn’t like allopathic that you give order and you get cash. Many hospitals do billing on credit basis. Minimum 50 days, one month, two months or even four months credit is there. So you will get a big order but you won’t get immediate payment, it will take some time. You should have rolling money for this,you should have more money at backhand for this which you can use for the time being. Also you should not give more credit. Minimum 15 days to maximum one month credit should be given. This will help maintain the relationship and also keep more rolling money coming in and you can expand your business.

• One is credit, another is as I said, rolling money. You need a big amount of rolling money if you are thinking of a big distributorship, doing it a big level. Even at a normal level, you need to have some rolling money. If you have ten lakhs, then invest only five lakhs in the business, rest five lakhs, keep them as rolling money. This will be good, it will help you sustain for a long term.

• Next is manpower. No one will come to you to buy so many products. Very less, around 10% only retailers and hospitals will come to you. But your order-boys will go to every area; every counter and orders will be generated. So you need to have a lot of manpower, delivery boys and order-boys for orders. The more manpower you have, the better. You will be able to cover more area.

• Then there is competition. Here there are many companies, who give a fixed rate, but I have noticed that every distributor in different areas have different rates. This mainly depends on hospitals. Hospitals ask for products having least rate. If you visit any hospital, they will only give you an order if there is a rate difference between you and other distributor and your rate is less. So there arises a competition and sustaining here is very important. You need to manage your rate right down to 1 rupees or two rupees. So this competition part is a big challenge

• Next is product selection, Right now I told 25 categories. In those, there are subcategories as well which leads to thousand products. Out of those, which products you choose to keep is a very big challenge. You cannot always keep all the products because there’s an expiry on every product applied by the government. So you can keep selected and minimum products only.  That’s why I said in the start of the video itself that you need to do a survey about which products are in demand in your area, which area you will cover, which product s you can keep, how much margin is there on these products and how much extension does the company give you, do the doctors use that specific companies products or not. According to the survey, you need to make a strategy.

I can understand that we have discussed a lot in this video, most of the things, you might have understood. If you have any doubts, do ask in the comment box. And friends, all this information is enough to start your business as a pharma surgical distributor.

That’s all for this video, my friends. If you liked the video, please click on the like button, don’t forget to subscribe to the channel, and share it with other people. Idea will be shared, people’s confusion will be cleared and this video will be able to help people become entrepreneurs. So that’s all for this video friends, let’s meet in the next video. Till then be healthy, be happy.

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