A patent medicine store, also known as a chemist in Nigeria, is a store that sells over the counter drugs, though chemist is the generalized local name for a patent medicine store, it is not supposed to be so.
You might be wondering who can open or run a chemist in Nigeria; the truth is that a patent medicine store can be managed by people who have a piece of good knowledge about drugs or have undergone a training process about drugs and their uses.
Patent medicine stores are mostly found in remote communities or within streets; this shows that it aims to get over the counter drugs closer to the people.
The business is quite lucrative as most people look forward to owning a chemist store in Nigeria. To get started, you need to have a handful of knowledge about drugs.
How to register a Patent Medicine store in Nigeria
Before you think of opening a patent medicine store in Nigeria, the registration process must come to mind; the body you need to register a chemist or patent medicine store with is called the National Association of Proprietary and Patent Medicine Dealers (N.A.P.P.M.D).
N.A.P.P.M.D was approved by the pharmaceutical council of Nigeria to manage to affairs of patent medicine stores
To register with N.A.P.P.M.D, you need to pay a certain amount ranging from 80,000-120,000 depending on your location. This money is used to help you process the registration with PCN and also for other activities within the organization like the end of year party and give away.
There is also a yearly payment of 25,000-50,000 from members to the organization.
In some cases, people might bypass the N.A.P.P.M.D registration when they have gotten their PCN registration; this might cause a problem for them in the future as the organization might come for them to do a proper registration.
The next move is to register a business name with the Cooperate Affairs Commission (C.A.C).this can be done quickly by visiting the C.A.C website and start the registration process by choosing a business name. It is easy as you will find more information on the C.A.C website.
C.A.C might ask for proof of registration with the N.A.P.P.M.D, so make sure you have all your documents ready.
Criteria required opening a chemist
- a patent medicine store must be located in a clean environment
- for a busy area, a chemist store or patent medicine store must be 200 meters or one electric pole apart
- for a less busy area, a patent medicine store must be about 400 meters apart
How to start a chemist or a patent medicine store
Most of the bulk money goes into registration and renting of the store, it is easy to procure drugs at a reasonable rate if you follow the right steps or better still collaborate with a pharmacist to help you or you can search for pharmaceutical companies online and contact them. They will be happy to put you through.
There are loads of pharmaceutical sales rep looking for a patent medicine store to supply their company’s products. To search for a way to reach out to them regards supplying you the drug to sell.
Essential tips to be successful in your chemist or patent medicine store
- experience: seek knowledge, you can either do this by working in a pharmacy or become an apprentice under similar settings, read books and update yourself regularly
- Location: the location matters a lot, make sure you rent your shop in a good area where people easily pass through, it may be a busy road or the entrance of a street.
- Marketing: you can market your business online by having a website or a blog which we can build for you.
there is no doubt that this is a good line of business to venture into, but you need to gain experience and knowledge before thinking of going into such business as you deal with people’s life.