Hello business minded people of Nairaland. I am a diasporan Nigerian and to be honest am tired of this UK and am thinking home now. I have a plan to come and invest in pharmaceutical retail business.
Am not a pharmacist, my plan is to employ a pharmacist that will run it while I supervise the day to day activities. Am thinking of starting it next year after the election. Set it up and go back to UK to finalize my final exit by Dec next yr. Am looking for location along Lekki Epe Exp or Ibadan Oyo State for now. Am hoping to make it a chain of pharma Stores in future

I have mapped out 10m naira for it, hope it will be enough.

Looking forward for your good advice and contributions.

Thanks and happy Sunday

Take a 6 months break from the UK to intern in a chemist in Nigeria. When you're confident you have learnt enough then you can start searching for your shop.

Do it the way you have planned it and it won't be long before your N10m is gone. N10m is fair capital for a medium sized shop.

SocialJustice:
Take a 6 months break from the UK to intern in a chemist in Nigeria. When you're confident you have learnt enough then you can start searching for your shop.

Do it the way you have planned it and it won't be long before your N10m is gone. N10m is fair capital for a medium size shop.

Is going for apprentice really necessary? Am not a pharmacist so by law I don't think I can be at front desk. I can only manage business from behind. So I think.

Olabukola11:
Is going for apprentice really necessary? Am not a pharmacist so by law I don't think I can be at front desk. I can only manage business from behind. So I think.

I didn't say go there to sell, take an administrative role especially accounts related because that is the role you'll also play in your chemist.

But you need to have at least little experience about the business you intend to venture...

What of the days your pharmacist didn't show up for work offdays or leave , what are you gonna do?

The truth is you have a good business idea buh you need to know a little about the business first..

SensetionalGoal:
But you need to have at least little experience about the business you intend to venture...

What of the days your pharmacist didn't show up for work offdays or leave , what are you gonna do?

The truth is you have a good business idea buh you need to know a little about the business first..

Aside having a pharmacist I will also have 1 or 2 nurses. So when the Pharmacist is not available the nurses covers up. As am not a pharmacist or nurse am not suppose to dispense drugs by law. Am purely there for administrative/Managerial role.

SocialJustice:
I didn't say go there to sell, take an administrative role especially accounts related because that is the role you'll also play in your chemist.

Ok thanks. Now I understand.

Olabukola11:
Hello business minded people of Nairaland. I am a diasporan Nigerian and to be honest am tired of this UK and am thinking home now. I have a plan to come and invest in pharmaceutical retail business.
Am not a pharmacist, my plan is to employ a pharmacist that will run it while I supervise the day to day activities. Am thinking of starting it next year after the election. Set it up and go back to UK to finalize my final exit by Dec next yr. Am looking for location along Lekki Epe Exp or Ibadan Oyo State for now. Am hoping to make it a chain of pharma Stores in future

I have mapped out 10m naira for it, hope it will be enough.

Looking forward for your good advice and contributions.

Thanks and happy Sunday

Running a pharmacy is very profitable in Nigeria but pleas make sure you get some form of hands-on experience before you invest in it.

If you fail to do this just know that your employees will be stealing money right from under your nose but you will not know!

Also be aware that you must have a licence a s pharmacist before you can get a licence to open a patent medicine store...people who do not have this licence get around this problem by going into partnership with a pharmacist who has the licence or by renting the licence for a fee

If you would listen to me, believe me you don't just need just pharmacy and nurses alone. Most importantly you also need a record keeping expert to help you set up double entry record keeping system for you to be able to supervise the business into success.

If you think that the that you are there yourself to supervise yourself physically is a guarantee that they won't steal or that things won't still go missing right under your nose without you detecting then believe me you know nothing about business and its surprises.

Double entry record keeping system set up for the pharmacy is like your recommended eye glasses without it you cannot see what you should see when you should see it no matter how hard you look.

I speak from my experience with clients as an accountant, auditor and investment analyst 08131136076. I can go on and on but let me just stop here for time and space sake.

Olabukola11:
Hello business minded people of Nairaland. I am a diasporan Nigerian and to be honest am tired of this UK and am thinking home now. I have a plan to come and invest in pharmaceutical retail business.
Am not a pharmacist, my plan is to employ a pharmacist that will run it while I supervise the day to day activities. Am thinking of starting it next year after the election. Set it up and go back to UK to finalize my final exit by Dec next yr. Am looking for location along Lekki Epe Exp or Ibadan Oyo State for now. Am hoping to make it a chain of pharma Stores in future

I have mapped out 10m naira for it, hope it will be enough.

Looking forward for your good advice and contributions.

Thanks and happy Sunday

If you say pharmacy,then you should be stinkingly rich, unless you have some relatives license you want to use apart from that you'll also be willing to commit this professional with so much that he or she will not look somewhere else.
Or better go for a patent medicine kind of store,stock it up and expect to take in huge sales

I actually learnt patent medicine (chemist)
I haven't gotten the start up capital to commence.

You can pm if you want.

Financialman:

If you say pharmacy,then you should be stinkingly rich, unless you have some relatives license you want to use apart from that you'll also be willing to commit this professional with so much that he or she will not look somewhere else.
Or better go for a patent medicine kind of store,stock it up and expect to take in huge sales

Pls what is the difference btw pharmacy and chemist shop.

UKusedBoyfriend:
I actually learnt patent medicine (chemist)
I haven't gotten the start up capital to commence.

You can pm if you want.

How much is needed to start it and how can we partner?

Olabukola11:
How much is needed to start it and how can we partner?

about 2m is okay.

UKusedBoyfriend:
about 2m is okay.

Explain in details how it works and how the partnership will look like. What is the difference between chemist and pharmacy shop.

Olabukola11:
Explain in details how it works and how the partnership will look like. What is the difference between chemist and pharmacy shop.

Pharmacy is usually operated by a pharmacist while chemist is like a trade; the person learnt it and they are limitations.

Olabukola11:
Aside having a pharmacist I will also have 1 or 2 nurses. So when the Pharmacist is not available the nurses covers up. As am not a pharmacist or nurse am not suppose to dispense drugs by law. Am purely there for administrative/Managerial role.

Do not employ nurses rather look for pharmacy technicians or pharmaceutical technologist.
You will have peace of mind even when the pharmacist leaves or not around.
Nurses don't know anything about drug

Olabukola11:
How much is needed to start it and how can we partner?

Partnership is not adviceable on patent store.
Do it yourself .
You can start with as low as #250k (aside shops and furnitures etc)unless u are venturing into wholesale

Titusolufemi:


Do not employ nurses rather look for pharmacy technicians or pharmaceutical technologist.
You will have peace of mind even when the pharmacist leaves or not around.
Nurses don't know anything about drug

How long to train as a pharmacy technician or technologist?

Olabukola11:
Explain in details how it works and how the partnership will look like. What is the difference between chemist and pharmacy shop.

Like I said, partnership is a no no.
It's someone that has mind that set up patent store because all eyes will be on u (NDLEA, PCN, police ) You are not permitted to sell 70% of drugs unless u are a pharmacy.
You can't sell antibiotics, injections, fluids, anti hypertensive, anti diabetic, anti psychotic/ anti depressants etc.
Note: you can only sell them in hiding, you can't display them. When PCN is around, you have to pack all those away.
Running a patent store requires u to have another shop/store/room to keep all those prohibited.
If u are caught, it depends on who caught u.
If na police catch u, you will pay heavily, if na NDLEA, you will pay more heavily or go prison. If na PCN, you are finish patapata.

Olabukola11:
Pls what is the difference btw pharmacy and chemist shop.

A pharmacist has a license from PCN to operate,a chemist learns from somebody in the business pays to be approved to own a patent medicine store.... registration is like around #200k + in benin and environs

Olabukola11:
Hello business minded people of Nairaland. I am a diasporan Nigerian and to be honest am tired of this UK and am thinking home now. I have a plan to come and invest in pharmaceutical retail business.
Am not a pharmacist, my plan is to employ a pharmacist that will run it while I supervise the day to day activities. Am thinking of starting it next year after the election. Set it up and go back to UK to finalize my final exit by Dec next yr. Am looking for location along Lekki Epe Exp or Ibadan Oyo State for now. Am hoping to make it a chain of pharma Stores in future

I have mapped out 10m naira for it, hope it will be enough.

Looking forward for your good advice and contributions.

Thanks and happy Sunday

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Fxmanager:
With the fall in the value of the Naira and the surging inflation rate, how do you preserve and grow your wealth?

You can diversify and invest with us through our forex fund management service in other to beat the high inflation rate, preserve/increase your purchasing power and at the same time build your wealth in an inflationary economy. Visit the link below.

https://www.nairaland.com/7349176/worlds-most-consistently-profitable-forex

Rubbish

Olabukola11:
How long to train as a pharmacy technician or technologist?

Three Years. Standard Private School of Health Technologies are better to attend than their government counterparts cuz of less stress.
Getting certified as a Pharmacy Technician will let you know much about the business even if you employ a pharmacist for License sake.

Emu4life:
Three Years. Standard Private School of Health Technologies are better to attend than their government counterparts cuz of less stress.
Getting certified as a Pharmacy Technician will let you know much about the business even if you employ a pharmacist for License sake.

Technician is 3years
Technology is 4years (2 for ND and 2 for HND).
The only schools running technology is Mapoly and one there school in the north.
Technician are in every college of health technology

Titusolufemi:




Technician is 3years
Technology is 4years (2 for ND and 2 for HND).
The only schools running technology is Mapoly and one there school in the north.
Technician are in every college of health technology

Any Pharmacy franchise opportunity in Nigeria?

Pls can chemist shop be closer to a pharmacy, shop can it work?