What are the procedures when starting a drugstore in the Philippines?
The Philippine market for pharmaceuticals is 110 billion pesos and since medicine is one of our basic needs, drugstores will always have sales despite the economic crisis.
Below are the procedures when starting a drugstore in the Philippines:
1. Select the location for your business.
2. If single proprietorship, register with the Department of Trade and Industry. If you are planning for a corporation, register with the Securities and Exchange Commission.
3. Start constructing your drugstore, being extra careful as to the designs of the shelf space, cabinet, water supply, and cashier area.
4. Hire a licensed pharmacist to assist you with the BFAD requirements.
5. Apply for a Barangay Clearance.
6. Coordinate with the Barangay regarding your signage. Get a Barangay Signage Permit.
7. Apply for a mayor’s permit from the municipal hall where your drugstore is located.
8. Apply for certificate of registration and other permits from the BIR.
9. Have your Official Receipts and Invoices printed. If considering the Point of Sale System, buy from a qualified vendor.
10. Hire and train your other employees: cashier, pharmacy assistants, sales staff, warehouse clerks, etc.
11. Prepare for a grand opening.
For other details, please contact BusinessCoach, Inc., provider of seminar on how to start and operate your own drugstore.
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You may also call (02) 727-5628 / (02) 727-8860 / (02) 727-7839