Unlike any other business where as long as you have funds you can proceed, this one requires one to have a diploma certificate or degree in pharmacy. Without the certificate, you can never run a pharmacy.
The pharmacy business in Nairobi is quite delicate and requires one to be very careful and educated as it deals with people’s lives.
Here is a look at how to go about it once you have a certificate;
Steps to start a pharmacy business
- The first step is to apply for the registration of premises. There should be a floor plan for the business and a copy of a certificate from the Pharmacy and Poisons Board.
- Look for a suitable location to open the pharmacy business.
- Acquire a business permit from the Nairobi City council. One can visit their offices and do this or you can do it online. This will help your business run smoothly.
- The next step is to register your company on the KRA official site for tax purposes.
- One also has to get a health certificate from the health inspector as well as a fire certificate from a fire officer. This ensures your business is safe for both you and employees as well as the drugs being safe for consumption.
- Depending on the size of your pharmacy business one needs to employ competent workers who will help your business grow.
How much does one need to start a pharmacy?
The cost of starting a pharmacy business in Nairobi is a little bit higher and can cost up to 1 million Kenya shillings if it is wholesale. If this was not your budget you will probably have to take a loan which you will pay with time.
The capital includes the cost of rent of about three months which is 24.000 shillings, Trading license which is 10,000 shillings, premises registration which costs 5000 shillings, an annual practicing license which costs 2500 shillings, the electricity and water will be about 3,500 shillings, cost of interiors will be 50,000 shillings, stock deposit requires a minimum of 500,000 shillings and if it will be a wholesale then a wholesale license which goes for 5000 shillings.
The total cost of my approximation is around 600,000 Kenya shillings
Is the pharmacy business profitable?
This is one of the most profitable brick-and-mortar businesses you will ever come across. This is because day in day out there are people who fall sick and need medication. Some have already been allocated a monthly dose of diabetes drugs, asthma inhalers, ulcers, HIV, and blood pressure. Not to sound bad but with this one is assured of constant income. In a month one can up to 80,000 shillings.