How to Start a Successful Drug Store in Egypt
If you are a Pharmacist or are interested in starting a drug store in Egypt, well, I am here for you. In this post, I will be providing you with a comprehensive guide on how to start a drug store successfully in Egypt.
A drug store (or patent medicine store) is a store that stock and sell over-the-counter (OTC) drugs. Patent drug stores are mostly found in remote communities and streets, primarily aiming at getting over-the-counter drugs closer to the people. There are several pharmacies throughout the major cities in Egypt such as Cairo and Alexandria, compared to the rural areas. Patent stores therefore bring medicines closer to the people.
Drug stores can be managed by pharmacists as well as those with a good idea about drugs having been trained on drugs and drug use. It is a very lucrative business and if well planned and implemented thoroughly and effectively, would turn out a successful business.
There are many factors to be considered before starting up patent drug business in Egypt. Such factors include location and size, etc. However, to get started, you need to have enough knowledge about drugs and drug uses.
Types of Pharmacies recognized by the Egyptian Syndicate of Pharmacists:
- Retail Pharmacies ( which is the focus of this post)
- Wholesale Pharmacies
- Wholesale and Retail Pharmacies
- Hospital Pharmacies (within hospitals and clinics)
- Manufacturing Wholesale Pharmacies
Let us now shift our focus to how you can start a retail pharmacy (drug store) in Egypt.
How to start a retail pharmacy in Egypt
Assemble a team of advisors
Once you have conceived the idea of delving into this line of business, it is important that you seek wisdom from those who have already succeeded in the business. As an entrepreneur, you are in business for yourself, not by yourself. Seek to know the ups and downs of your potential business line, so you could be better equipped on how to face them.
Write a business plan
Another important step you need to take is to draw a realistic business plan. You should state clearly how you will run the business. It should contain your business description, marketing strategies, operation plan, funding, as well as the competitive analysis.
Select the Right Location
Market survey will help you determine your best location options. Apart from getting the location approved by then Egyptian Syndicate of Pharmacists, you also have to consider how the business will be profitable if established at that location. You also need to consider the proximity between the proposed site and other retail Pharmacies around.
Obtain necessary permits and license
You will need to get an operating license from the Egyptian Syndicate of Pharmacists before you can start a drug store in Egypt. To obtain the license, it is expected that the proposed Superintendent Pharmacist must have done at least one year post registration practice in Egypt, and must be employed full time for this pharmacy.
Get a reliable drug supplier
Get a supplier who will be supplying you with good and quality drugs. Ensure that the supplier is also a registered member of the Egyptian Syndicate of Pharmacists. This is another important aspect of the business in Egypt. Also, ensure that the drugs supplied are those approved by the Egyptian Drug Authority (EDA).
Do a test run and get it started
Once you have completed the steps above, it is time to launch the business open. Advertise the business and get it going. Remember that the first impression is the lasting impression. Do anything that you can to attract your target market.