The demand for affordable and quality medicines along with the government’s efforts of lowering its prices paved the way for aspiring entrepreneurs to venture into selling generic medicines.
Generic medicines are always less expensive. It cost about thirty percent to eighty percent lower than the branded medicines. Quality and efficacy of generic medicines now are guaranteed by BFAD. Thus, it means more choices and great savings for consumers. This is indeed a big help for those taking several medicines on a daily basis.
Such demand for generic medicines opened a great business opportunity for those who want to start a business of their own. Putting up a drugstore requires a minimal space, low initial investment and standard government licenses and permits, it is easy to operate and has a big profit potential. As opposed to other types of business (ex. food carts, clothing), generic drugstores are not as many, there is still room for new players to meet the demand of consumers. Aside from profit, this type of business will also give you a different level of satisfaction knowing that you are promoting health and wellness in the community you are a part of.
Generic drugstores can now also be franchised, ensuring that start-up, stocks and operations are in place. Franchise fee will include the right to use trademark name and logo, site evaluation assistance, store planning and design, training, opening assistance and ongoing guidance and support.
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