The Pharmacy sector in Cameroon is very lucrative, and people who realize this are doing great business with huge returns. People will always buy medicine daily, no matter what.
Initially, you needed a medical or pharmacy background to set up a chemist in Cameroon. Now, someone with interest can set up a chemist, provided they get someone with the knowledge in the field to run and manage it.
Starting A Pharmacy In Cameroon – The Requirements
The prerequisites are as follows:
- You must have a registered business as a sole proprietorship, company, or partnership.
- You will be required to present Academic certificates of pharmaceutical Technologists who will take care of the business.
- You will also be required to get the Enrollment certificate from the Pharmacy and Poison Board of Cameroon.
- Be of Cameroonian nationality. You can also provide an agreement of reciprocity between Cameroon and the country of origin.
- Have a professional indemnity insurance policy.
- Have a letter of release.
At the same time, your pharmacy premise’s equipment and business floor plan should be in place. The equipment is only needed if you will be carrying out the tests. But it is optional if your goal is just to sell medicine.
Suggested: List of Essential Drugs in Cameroon.
Steps to Setting up a Pharmacy in Cameroon
Research
Know your market. If you need to gain the knowledge, get someone who has to help you out. It is not just about setting up and running. Know your market.
Write a Business plan
Have a plan to guide you. This will help you remain on the cause and sell only what is required. For instance, do not sell abortion pills, however lucrative the business might be.
Licenses
Make sure that you have all the required permits or licenses with you. The sector is delicate, and it deals with human life. You, therefore, need to be very careful. Registration with the pharmacy board is mandatory.
Decide on the Location of the Pharmacy
Location matters a lot in the pharmaceutical industry. Do not set up your pharmacy where there is stiff competition. Look for a place that you will dominate. Near a public hospital will be a massive plus for you.
Conclusion
Running a pharmacy only yields profits if properly done and managed.
Please note that there is a slight difference between a chemist (small medicine store) and a pharmacy.
A pharmacy is more sophisticated and needs more equipment. It is also more profitable. A chemist only deals with the sale of prescribed medicine, is easy to set up, and needs a small budget. It is profitable too.
Read More: List of Reference Hospitals in Cameroon
