How to start patent medicine business in Nigeria with a little capital

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Patent medicing business can be lucrative especially in an environment like Nigeria, but starting it may be challenging. Things you need: Licence.
Obtaining a license is a fundamental precondition when starting a patent medicing business in Nigeria. Though the licence may be delayed for upto a year or more before it comes out, after you have gone through the application processes, the Pharmaceutical Council of Nigeria through the ministry of health of the state where you want to operate your business will issue you some documents that will prove that you have applied for a licence and with this you can start your business pending when your licence comes out. Pharmaceutical Council of Nigeria is the regulating body in respect of patent and proprietary medicine vendors and the pharmaceutical industries and distributors in Nigeria.
Shop (location). Unlike other businesses that can be operated anywhere and in any kind of shop and environment, patent medicine business is unique because it is a health related business, hence the need for a good shop in a very neat environment. Infact, in some situations, the ministry of health makes inpection of your shop before you can operate; if it meets the required standard. Your shop must also maintain a conducive temperature so it doesn't affect the life span of your drugs.
Registration with the association of vendors.
This may sound informal but the truth remains that this association known as National Association of Proprietary and Patent Medicine Dealers (NAPPMED) is very strong and at times can frustrate if you fail to adhere to their norms and traditions. They require you to inform them of your intention to operate within the jurisdiction where you intend to, even before you apply for your licence. This is because there are certain rules they maintain among themselves in the association as per operation. One of these rules is a certain amount of gap between your proposed shop and that of an existing member. The gap normally is 200 meters in a heavily populated area and 400 meters in a less populated area. Note that they adhere strictly to this rule and your inability to maintain the rule may rubb you the chance to operate, even if the ministry of health has issued you a licence to operate. They can use their task force members to lock your shop and frustrate your business intention if you prove naughty.
Capital. This is very fundamental also because without capital you cannot even think of venturing into the business. The amount of capital you need depends on the locality where you want to operate and the standard of shop you want to operate in; but whatever the case may be, you should have at least (N500,000) Five Hundred Thousand Naira. This will be able to construct a good counter for you, pay your licence fee, pay your shop rent, pay your membership registration fee with the dealers association and buy you some drugs for a start.
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