This is a detailed guide on how to start a chemist shop in Nigeria.
A chemist shop is also called a patent medicine store in Nigeria, and it is one of the most lucrative business ventures in Nigeria.
There are various chemist stores you will see around, but not every one of them is doing too well.
The reason for this is usually not far-fetched. It could be as a result of an improper start-up plan – inadequate information as to how to begin properly.
Therefore, in this post, I will be showing you how to do what many others are not doing while starting their patent medicine stores.
I will be showing you how to properly prepare, plan, and start your own chemist shop.
At the end of this post, you would have learned how to start a chemist shop in Nigeria.
To start with, what is a Chemist shop or a patent medicine store in brief?
What Is A Chemist Shop?
A chemist shop is a patent medicine store where medicines and various other medical products are being sold.
Chemist shops are usually operated in rural or semi-urban areas. They are stores where people get basic medical needs in form of drugs, balms, and the like in other to recover from certain states of unhealthiness.
To start your own chemist shop in Nigeria, there are basic things you need to be aware of. There are also certain measures that you should put into consideration.
One of such important things to take note of is the body responsible for approving your patent store business in Nigeria.
Your business will be considered illegal if it is not approved by this professional body called the Pharmacists Council of Nigeria (PCN). This is because the council will carry out some professional examinations on your skills level and capability to run such a business venture in Nigeria.
How To Start A Chemist Shop (Or A Patent Medicine Store) In Nigeria
Without further ado, let me take you through the basic need for how to start a chemist shop in Nigeria.
This section will focus on all the necessary and important steps to start your chemist shop from the scratch.
Step 1: Get Trained By A Professional
“You can not give what you don’t have”, and I believe you know that this is a popular saying that is very true.
As a chemist shop owner, it is very important for you to get trained before thinking of starting your own business.
The training process is like an investment that will yield interest as you go on with the business.
Step 2: Prepare A Business Plan
The very first and most usually ignored step in starting any kind of business is to prepare a business plan.
A business plan is like a map that guides your journey as you carry out your daily business transactions.
It is of great importance to map out your plan before even starting out your chemist business. This will help you have an overview of all it entails to successfully operate your business.
Your business plan should be very detailed, and it should consist of information like:
The capital required for your standard of business.
- The cost of business registration
- Number of employees to start with
- Your business location. This should be close to a place of residence.
Also, your business plan should survey the advantages and disadvantages lying ahead of owning a medical store.
Step 3: Get An Approval From PCN (The Pharmacists Council Of Nigeria)
I have mentioned PCN earlier, but it is important to talk more about their role in your patent medicine business.
Your chemist shop will not have a legal ground to stand upon if it is not approved by the Pharmacists Council Of Nigeria.
This council is authorized by the Federal Ministry of Health in Nigeria, and it is compulsory to get licensed by them before carrying out your business activities.
If your business has been approved by the PCN, you will be given a certificate that will attest to your approval, and this will enable you to operate your chemist shop in Nigeria without any fear.
Step 4: Register Your Patent Medicine Store With NAPPMED
For smooth business running, every chemist store in Nigeria must belong to an authorized association of medicine dealers in the country.
This association is the National Association of Proprietary and Patent Medicine Dealers (NAPPMED).
Becoming a member of this association is important, and it comes with numerous benefits for your business.
The primary function of this association in Nigeria is to regulate and control patent drug stores and their business activities.
To become a member of this association – the National Association of Proprietary and Patent Medicine Dealers (NAPPMED), you will be required to take the following steps:
- Presenting your PCN certificate
- Payment of the registration fee. This is valued to be about ₦200,000.
- After your registration, you will be renewing your membership annually, and this usually costs about ₦30,000 to ₦50,000.
This association is subdivided into zones, and you will belong to a particular zone that covers your business location.
However, on the day you will be introduced to your zone as a new member of the association, you will be required to provide refreshments in terms of food and drinks for existing members. This is the culture of the association.
Step 5: Register Your Business Name With The Corporate Affairs Commission (CAC).
Every legal business in Nigeria is registered with the Corporate Affairs Commission (CAC). This is different from your registration with the NPC and the NAPPMED.
CAC is the body that will register your business name and ensure that it is not taken by any other business after you as they ensure you are not also taking up an existing business name.
Getting your chemist shop registered with CAC is not difficult, and it is not different from all other businesses in Nigeria.
This third registration phase will complete all the necessary registrations to start a patent medical store in Nigeria.
Step 6: Get A Reliable Drug Supplier
Your business growth depends upon the kind of service you render to your customers, and as a new business, you wouldn’t want to create a bad image for yourself.
Therefore, it is paramount to get your drug supplies from a reliable supplier.
Your supplier should be able to supply licensed and legal medicines for you to sell.
Step 7: Get A Shop At A Good Location
There is no business without sales or profits. This is why you must ensure you get a perfect location for your business.
Your business location should either be in a residential area or not too far from one.
This will help you have regular patronage, and make your business grow very quickly.
Also, when you want to cite a business location as a chemist shop owner, you must prioritize cleanliness.
Your shop must be neat at all times so as to be a perfect agent of healthy living.
Areas that do not have pharmacy stores or health centers are best for fast sales.
Step 8: Intensive Advertisement
Getting a good location for your business is sometimes not enough. A very good advertisement will announce your business to the public and make more people become aware.
Sometimes, the art of advertising may vary, therefore you may learn the right approach to advertising from existing colleagues in your zone.
STEP 9: Keep Learning
It is important to get trained before even setting out to start this kind of business.
This is because it has to do with the lives of people and life is an asset you can never gamble with.
In addition to your knowledge when you start your chemist shop, there is a need for you to improve on your knowledge and get updated as the business grows.
One of the ways to keep learning in this field is to regularly attend teachings, seminars, and orientation programs.
Some of these teachings are usually organized by top pharmaceutical companies in Nigeria, the PCN, the NAPPMED, and other national and international medical bodies.
That is all on how to start a chemist shop in Nigeria.
Hope this was helpful?