How To Start A Successful Pharmacy Business In Nigeria

Most people trying to set up a successful pharmacy business in Nigeria fail to understand that there is a huge difference between registering a pharmacy successfully and starting a successful pharmacy business in Nigeria.

A young Lady once registered a pharmacy business in Nigeria. She got the best furniture maker to make her shelves, she spent millions in stocking the premises and buying all the gadgets she saw in some successful pharmacy business in Nigeria.

Having put all these in place, she opened for business and was crushed when people did not troop into her business just like they did in the the successful pharmacy business in Nigeria that she got her designs from.

So, what can a Nigerian pharmacist do to be able to set up a successful pharmacy business in Nigeria rather that successfully set up a pharmacy in Nigeria.

Here is what you need to do

  1. CAREFULLY PICK THE SITE OF THE PHARMACY – The most important factor in deciding if you will have a successful pharmacy business in Nigeria is the location of your pharmacy. This is one area that a lot of pharmacists now call us to guide them with. If you can get this right, you will have a successful pharmacy no matter how bad your staff or structures are. Never pay for a site without getting another owner of a successful pharmacy that you can trust to look at it for you. Just make sure its someone you can trust because there have been cases of pharmacists going behind to pay for a site that a friend asked them to help them inspect. For those in Lagos, you can contact us to help you with site viability assessment. Call our office on 08023622171

  2. BUSINESS MODEL – This is another area that people get wrong. If you want to own a successful pharmacy business in Nigeria, you MUST get your business model right. You cant have a pharmacy business model designed for a Moslem community when you are setting up your pharmacy in Umuahia neither can you succeed with the model of high end pharmacies in Gujba Yobe state. Business model is what kills a lot of pharmacies because most pharmacists have not even heard about business model not to talk about what it means. I will strongly suggest you read the book BUSINESS MODEL GENERATION if you are serious about owning a successful pharmacy business in Nigeria. There is a book that we have written that can help you but you must get the BUSINESS MODEL GENERATION if you want to thrive. You can watch the video on youtube by using the title of the book as your search word.

  3. STAFF AND CULTURE – A pharmacist from Lagos once asked me to recruit for him only Igbo male pharmacists from first generation universities. I was curious and asked him why. His explanation was that they would be easy to teach and imbibe the culture of his business which was located in an area of Lagos with 75% igbo population. This cost him more but because he knew how powerful the culture of his business and staff were, he was ready to pay for it. You must be clear on the type of culture you want to build in your business. Once you have established that, you do not employ or retain any staff that will not imbibe the culture

  4. BUSINESS TRAINING – What you learnt from pharmacy school can make you a good pharmacist but not a good pharmacy business owner. You need training on the business aspect of pharmacy. Most successful pharmacy businesses in Nigeria are owned by pharmacists who have taken business training                            DOWNLOAD SOME FREE BUSINESS TRAINING MATERIALS HERE



AND WATCH ONE OF OUR GENEITH PHARMA makers of CAMOSUNATE sponsored training session for pharmacy business owners


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