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E-commerce has affected the lives of millions of people in such a way that it estimates about $14 trillion yearly sales worldwide. E-commerce is expanding and with its continuous growth various new business models are coming across frequently, among them is the business model of an online pharmacy store. As online pharmacy stores are gaining more recognition, it has become crucial to implement a proper strategy and complete business model to develop an essential online presence for your e-pharmacy store.
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Business Model to Start an Online Pharmacy Store
The business model of an online pharmacy store is an advanced and original idea to create a customer’s life much smoother, by allowing them to simply place their order with a few clicks, setting up weekly or monthly reminders and getting a doorstep delivery saving their time. Without online pharmacy store, a person has to stand in queues to buy medicines and health products and on most occasion even has to visit other stores to buy the medicines. The nature of the Indian pharmaceutical market is such that some products are available only around the hospital that prescribes it. And, once a patient leaves the hospital’s proximity, the medicine won’t be available anywhere else except online.
In today’s time of the Internet and online markets, various online pharmacy stores have emerged, where medicines can be ordered easily and delivered at your doorsteps. According to the business viewpoint, the pharmacy business is permanent. Nothing can stop Indian pharmaceutical market from developing and growing economically.
Starting an online pharmacy store is difficult and challenging because of the pharmacy laws associated with it. To start an online pharmacy business, you first need to understand laws and acts associated with it. Pharmacy laws vary from one nation to other and sometimes differ from states to states, in many countries. Because of this, it is very challenging to sell prescript drugs online. Every aspiring entrepreneur should know about the essential step before attempting into initiating an online pharmacy store in India.
Registration, Permit, License, and Taxes
The Indian pharmaceutical market is strictly observed and reviewed systematically. Because of this, many statutory registrations, approvals, agreements, and licenses have to be received before commencing with the actual work of your online pharmacy store.
Registering your company with the authorities will be your first step. After that, you have to get licenses from FDA or similar bodies to start as an online pharmacy business. Then get your online pharmacy listed with all compulsory tax registrations, and apply taxes every time whenever needed to avoid penalties from tax officials.
Website Features to Start an Online Pharmacy Store
You will need a domain hosting to create your online pharmacy website. The domain name should be under your pharmacy name or the brand name. For your pharmacy store, create a domain with .com extension to ought universal domain. Once your domain is registered, with the help of an online pharmacy website developer, form and design to your website. Given below are some much-needed Website Features to Start an Online Pharmacy Store that will form the basis of your project, upon which the entire website will stand proudly:
An online pharmacy store homepage should focus on providing well-categorized and updated information. The homepage should offer a user-friendly web experience so, that it is easy for users to find what they need, within a few clicks.
The search button is an important feature on the online pharmacy website that allows a user to search for a medicine, by merely entering a prescription name in the search bar. With the help of the Search button, a user can browse through different categories and search for prescribed medicine from an endless list of medicines.
By implementing an upload prescription option on online pharmacy stores, a user can easily upload the doctor’s prescription to the website and the store owner can manually deliver, the required quantity of prescribed medicine to the user.
Laboratory Service on online pharmacy store allows a user to choose a laboratory in their home city, where they desire to go for the blood test on their preferred date and time via a unique user-friendly Interface.
Since an online pharmacy store is listed with many products, it becomes important to list them in their relevant categories. This helps the user to find their required product easily and also does the work of inventory management for the store owner. Online pharmacy store should offer a wide range of products categories like Personal care, Baby care, Ayurveda, Petcare, Cosmetics, Surgical, etc. Also by adding menus like Featured categories or New arrival can help a user to find new medicines easily.
Deals & Offers
Deals and offers service on an online pharmacy store helps to inform people about the discounts, upcoming and ongoing offers on the store. It increases users engagement and also encourages them to come back and check for discounts and future deals.
Important Links in Footer
Always provide important quick links to the online pharmacy website’s about page, user’s profile, shipping policy, terms & conditions, FAQ section as well, in the footer. This section helps the user to easily access your web store.
The shopping cart acts similar to an e-commerce store, where a user can observe and modify their selections after choosing the products. It allows a user to make changes in the placed order before the checkout.
Allowing the user to know their product status after dispatch, is an essential part of customer satisfaction. Having a quality order-tracking system notifies a user about the status until it reaches its destination.
By implementing the consultation section on online pharmacy stores, store owner allows a user to search for a convenient therapist and their fee within a few clicks.
Ratings and Reviews
When a user visits a new online pharmacy store, he will definitely check its ratings and reviews first. Rating and reviews make it easy for users to identify the authenticity of your store and medicines. Leaving your valuable feedback after each purchase helps the owner, therapist and other consumers to make their choice easily while making a purchase from your Online Pharmacy website.
Starting an online pharmacy website is the best model of a productive online business in today’s times when entrepreneurs have upheld the e-commerce enterprise. By implementing these correct strategies, you can build a strong foundation and stay ahead of your competitors. It is always better to consult e-commerce masters before implementing your online pharmacy store online to stay productive and achieve great success at an exponential growth rate.