Pharmacy Career: how to become a Pharmacist

If you are an entrepreneur seeking an opportunity in the booming retail Industry, you could explore how to become a pharmacist. Careers in pharmacy especially Homeopathy could be a good place to look for growth and profits. Because general medical stores are a competitive business now and with organized retailers like Medplus, Apollo, Wellness Forever, etc. expanding in a big way, there is pressure on price margins with regular retailers. A homeopathy retail store will be a good move as it enjoys relatively better margins and much less competition. You could be a pharmacy graduate (diploma in Pharmacy or D Pharmacy) or any other discipline but necessary experience under a qualified homeopath with a competency certificate is a must to begin:

This blog article explores the avenues to help you start with a homeopathy store in your city. Our experience in starting a retail store is brought to bear in this article and we hope it will help you open one by avoiding common pitfalls.

About Homeopathic Industry in India

Before exploring how to become a pharmacist, let's examine the market in India. India is among the 66 WHO-identified countries where Homeopathy is practiced and its popularity is growing by the day. The market is growing at 25% annually in India and by conservative estimate is around 85 billion in 2014. What makes the Homeopathy market impressive is the fact that 100 million Indians solely depend on Homeopathy. This number is expected to go up to 160 million in a few years with greater awareness and choices made available. This market is currently serviced by 500,000 registered homeopaths and 20,000 more are being added every year. Supporting this ecosystem are 185 homeopathic colleges in the country, and 11,000 homeopathic hospital beds. By becoming a pharmacist you sit on a huge demand generated by this ecosystem.

Industry body ASSOCHAM recently conducted a survey on ‘Homeopathy adoption’ in major cities like Delhi, Mumbai, Kolkata, Chennai, Bangalore, and other satellite towns like Chandigarh, Hyderabad, and Lucknow. It randomly surveyed 5000 patients and found that over 55 percent preferred Homeopathy as the treatment is safer and physiologically satisfactory with no side effects. World Health Organization (WHO) has also independently assessed and concluded that homeopathy is the second largest system of medicine in the world. As per WHO the annual turnover of homeopathic medicines accounts for Rs 8,400 crore globally and is expected to touch Rs 52,000 crore by 2017.

How to become a Homeopathy Pharmacist: Step 1 - Understand the Market 

Major Homeopathy Brands in India: The top 5 homeopathic brands in the country in terms of visibility and turnover are Homeomart, SBL, Dr.Reckeweg, and Dr.Willmar Schwabe. Other major brands with pan India presence and good market standing are Dr. Vashisht, Adel, Fourrts, BBP, Allen, Bhargava, Doliosis, Wheezal, Haslab, etc..

All the above companies follow General Manufacturing Practices (GMP standards) and a few among them also follow international standards like Pharm Betro and PIC. While most companies follow criteria outlined in the Homeopathic Pharmacopoeia (HAB) and Homeopathic Pharmacopoeia India (HPI), some also follow German Pharmacopeia (DAB), European Pharmacopeia (Ph. Eur), United States Homeopathic Pharmacopoeia (HPUS) in their manufacturing guidelines.

Homeopathy Trade Policies and Practices: You need to have a good understanding of the major brands (as stated above) and the general trade practices and norms followed by the Homeopathic companies as a first step towards becoming a pharmacist. This would be relevant if you are dealing directly with companies.

Some essential guidelines are as follows 

1. The minimum order value (i.e., the order you place with the company at any given point in time) is between Rs.10000 - Rs.30,000. Order to supply turnaround time is anywhere between 15 - 30 days and you will have to make Inventory plans in advance. Freight may be paid by the company based on order value or general understanding. 
2. Incentives (or discounts ) are provided based on sales performance linked to annual turnover, and quarterly and annual growth achieved for the financial year. Additionally, if you pay upfront money for your order you may be entitled to Cash Discount between 2%-3%. The incentive payment is linked to the timely submission of ‘C’ forms (tax filing statements with tax authorities). 
3. Trade credit is extended by companies based on your track record. You can enjoy between 30 -45 days credit facility but do not expect this in your first transaction as companies expect you to pay in advance. On the flip side, if you do not pay outstanding bills within the stipulated period, you will be penalized with interest charges @ 12% - 15% on the outstanding amount. In the worst-case scenario, they may blacklist and stop any future dealings. 
4. Claims regarding expiry, breakage, leakage or evaporation: In the course of business dealing with the companies you may come across products received in damaged or defective conditions. Generally, companies allow such claims provided you intimate them on a timely basis and return the goods to their warehouses promptly. Replacement is done on an MRP to MRP basis with the same product or any other product depending on availability

How to become a Homeopathy Pharmacist: Step 2 - Know the Costs

Basic requirements to set up a Homeopathic shop: To set up and run your shop you will need the following infrastructure: Office equipment including chairs, file cabinets, and desks, a Front counter, storage racks, a cash register, at least one computer with a printer, assorted bottles, boxes, envelopes, etc. for dispensing and shipment. Telephone, Storefront (Name Board will suffice if you do not have the budget for a Glow sign board). You will need to install homeopathic software to manage your billing, inventory, and accounts. All these involve an initial outlay of costs. So you need to make a list of items and arrive at the costs. You can take quotations from a few sources or suppliers and arrive at the approximate costs involved in setting up a shop

How to become a Homeopathy Pharmacist: Step 3 - Know the legal requirements

You will need to have Trade licenses & permits to set up a Homeopathic shop in India:

Trade License: You need to apply for a GST (goods and service tax) registration with the local sales tax authorities. This is handled by the commercial tax department of the local state Government. Many states have implemented online submission and payment of fees for local GST registration. Please visit the state government website to either submit online or get the information from the jurisdictional sales tax office (VAT office) concerning your area. Documents required for VAT registration in the state of Maharashtra for a proprietor of a business.

Shop establishment certificate:  Given by the local municipal authorities you will need to follow up locally as there are no standard procedures here

Requirements for VAT registration

Drug License: You need to obtain a Homeopathic retail license issued by the department of AYUSH (Ayurveda, Unnani, Siddha, and Homeopathy) in your state. The following documents are expected by the Ayush dept in Karnataka for scrutiny to apply for a retail license.

How to become a Homeopathy Pharmacist: Step 4 - Make a local Business plan

Business Plan Essentials to set up a Homeopathic Shop – Have a plan with a schedule of all essential activities to make your shop run successfully. E.g., Completing paperwork with Govt agencies, finding a suitable location for your shop, negotiating for rentals, opening a bank account, promoting your shop locally, identifying suitable suppliers for Hardware, Software, etc, Financing your Business etc.

1. If you are a Homeopath it is ideal for you to extend your practice with a Homeopathic pharmacy shop. If you do not then identify a suitable homeopath in your locality or city who is willing to partner with you. This is not essential but in our experience, a clinic attached to a Homeopathic pharmacy does better Business than standalone shops. 
2. You will need to maintain an essential inventory of all categories of Homeopathic products. This includes Dilutions, Mother Tinctures, Triaturations, BioChemics, Biocombinations, and Speciality products. 
3. Your Pharmacy's target market may consist of different groups, in-house prescriptions, local customers or walk-ins, local doctor's prescriptions, telephone inquiries, and mail-order customers. 
4. There is no standard Homeopathic software available in the market. Good software meant for the homeopathic industry is essential for successful operation. Do not buy any software that is meant for allopathic medical shops. 
5. Create awareness locally through Newspaper inserts, community forums, and local directory pages.
6. Franchisee route: This is an ideal option if you want a template model wherein the franchiser provides you with set-up support in the form of Inventory, Software, Shop collaterals, etc on an upfront license fee plus a revenue-sharing basis. Homeomart is currently the only known entity that offers homeopathy pharmacy franchisee opportunities for potential entrepreneurs. For more details, you may contact them at vasant@homeomart.com

Which are the best Homeopathy medicines for hair fall control and regrowth?

Homeopathy has a proven track record in clinically treated cases. The following 12 homeopathic medicines are well known for their remarkable therapeutic action concerning all aspects of hair loss in men and women. One of the prime causes of hair fall is the adverse effect of male and female sex hormones. Homeopathy medicines (Testes) reverses this with its anti hormonal effect, (Juglans) checks the rise of improper fatty acids and fat metabolism that leads to impure blood and consequently hair loss. Homeopathy has a therapeutic effect of reducing blood toxicity, favorably influence nutrition to hair follicles (alfalfa), reduces sticky secretions that weakens hair root (sulphur), influences hair pigmentation resulting in hair becomes darker (weisbaden). Among its other notable effect on hair fall treatment is stimulating liver function and colon detox (cynara scolmus), reverse toxemia (graphites), any allergic reaction causing hair fall (sarothamnus scoparius), metabolic regulation that effects alopecia areata (thallium aceticum). Homeopathy medicines like hypophysis have a stabilizing effect during the hair growth phase (also called Anagen) resulting in good regrowth of hair. Kali Phosphorricum is a well known biochemic salt that addresses body cell salt imbalances which is essential for hair restoration. Another remarkable homeopathy medicine for hair loss treatment is ustilago maydis which is certified by doctors for strong hair loss symptoms in the whole body accompanied by bad skin conditions all triggered by metabolic intoxification process. 

What are the homeopathic medicines for hair loss in females?

Hair fall in women usually occurs during pregnancy and immediately after child birth. This hair loss is attributed to a spike in hormones which is a normal process. However hormonal spikes as those caused by androgens (male hormones) cause disease like cysts in ovaries (PCOS) as also hair loss. Also females are more susceptible to emotional triggers like stress, tension and lifestyle activities like crash diets (anorexia) leading to anemia and hair fall. Homeopathy medicines like Lycopodium, Sepia  are good remedies for hair fall during pregnancy, after child birth (post partem). Lactuca sativa, Lecithinum, Oenothera biennes provide anti hormonal effect to contain hair loss in females

Can homeopathy cure hair fall in beard, eye brows, pubic hair etc?

Yes specific homeopathic remedies can be applied in case of beard hair loss (Sphingurus mar), eczema of beard (arsenicum iod), pustular eruptions on beard ( hepar sulphuris), Aurum Mur (itching tickling). Acidum phosphoricum is not only good for hair fall from head but also in eyebrows, genetalia, Kali Carb (brittle dry hair)

Which is the best homeopathy hair oil for hair growth

Arnica and Jaborandi are two very well known and popular homeopathy herbs  used in hair oils. Concentrate of Jaborandi, Calendula Off, Cinchona Off, Cantharis, Arnica Mont are used in hair oils because it stimulates hair follicles, enrich hair bulbs and nourish hair shafts. Homeopathic twin packs like (Allen Arnica Triofer, Wheezal Hairgro) that offer IN & OUT care (internal medicines and external applications) and are quite popular