Pharmacies for Sale in Sharjah

The United Arab Emirates has opened its doors to various industries, particularly pharmacies for sale in Sharjah. Initially, the state's primary focus was on the oil industries. However, over time, non-oil sectors are equally contributing to the nation's growth and development.

One of these sectors is healthcare, providing various business opportunities for foreign investors targeting hospitals, pharmacies for sale in Sharjah, private clinics, and more. This article provides a clear stance and comprehensive information on establishing pharmacies for sale in Sharjah in the United Arab Emirates.

5 Advantages of Opening Your Pharmacies for Sale in Sharjah

• Control Over Business Decisions: As a pharmacy owner, you have complete control over decisions impacting your business. This includes choosing the products and services you want to offer, how to market your business, and selecting suppliers to collaborate with.
• Flexibility in Working Hours: Ownership of pharmacies for sale in Sharjah provides greater flexibility in terms of working hours. You can set your schedule, working as much or as little as you desire. This flexibility is beneficial for those valuing work-life balance or having other commitments outside of work.
• Strong Profitability Potential: Pharmacies can be profitable businesses, given the high demand for prescribed medications and other health-related products. As an owner, you can generate a good income and build a successful business.
• Opportunity to Make a Difference in the Community: Owning a pharmacy can also provide a sense of accomplishment and contribution to the community. By offering essential health services and products to residents, you can have a positive impact on their lives.
• Opportunity to Be Your Boss: Finally, owning a pharmacy offers the chance to be your boss and take control of your professional life. This can be a fulfilling and empowering experience, allowing you to build your vision for success and take charge of your career.

Establishing Pharmacies for Sale in Sharjah

When it comes to establishing pharmacies for sale in Sharjah, it is a worthwhile investment as the healthcare sector is expanding rapidly, eventually boosting the pharmacy sector as well.

With the expectation of a significant increase in the number of pharmacies in the future, the United Arab Emirates is the right healthcare market to target. However, before starting a pharmacy business, you need to pay attention to some basics, such as:

Essentials Required for Establishing a Pharmacies for Sale in Sharjah

Before starting the process of establishing pharmacies for sale in Sharjah, you need to take care of some essentials, including:

• Location: Choose a strategic location for your pharmacy business.
• Market Competitors: Assess the competition in the market.
• Plan for Pharmacy Layout and Structure: Develop a plan for the layout and structure of your pharmacy.
• Local Sponsor for Business License: Engage a local sponsor to obtain a business license.
• The initial setup cost ranges from $30,000 to USD 150,000. According to the World Health Organization, there should be a minimum of 160 customers in the targeted area.

Pharmacy Business Setup Process in Sharjah

To start pharmacies for sale in Sharjah, follow these initial steps to complete the company registration process:

For Preliminary Approval

• Apply to the Health Regulation Department.
• Obtain Sharjah Municipality's approval for commercial use of selected buildings for pharmacy operations.
• Upon document review by the Human Resources Department, a preliminary approval letter is issued within 8-10 days.

For Final Approval

• Apply online to pay the required amount.
• HR Department conducts a site assessment.
• If the requirements and recommendations of the Dubai Health Authority are met, you will receive the license within 15-20 days.
• The license is valid for one year, including the license number, pharmacy name, address, and expiry date.

Documents Required for Starting Pharmacies for Sale in Sharjah

The required documents, as mentioned in the above steps, include:

• Completed application form.
• Preliminary approval for the pharmacy location with the lease agreement.
• Approved site plans with architectural layout.
• Copy of site license, passport, and pharmacist license.
• Certificate and employee list for your pharmacy company.

Once the entire registration process is completed, you become eligible to open pharmacies for sale in Sharjah. As a business owner, the next thing you should be aware of is the benefits you will reap after investing in the pharmacy field.

Benefits of Establishing Pharmacies for Sale in Sharjah

The United Arab Emirates provides multiple options, such as the mainland, free zones, and offshore, for initiating a business. You can choose one according to your needs.

The healthcare sector is expected to experience significant growth in the coming years, making it a key industry. Sharjah boasts strong transportation and logistics facilities, facilitating smooth cargo movement. It also has an excellent communication system with neighboring countries.

Now, it's essential to understand that starting a business is a complex process. A well-planned establishment and proper guidance are required in the initial stages.

Steps to Open a Pharmacy in Sharjah

The pharmaceutical industries have witnessed the highest growth rate in the United Arab Emirates in recent years. Many global companies and franchise owners have already invested in opening pharmacies for sale in Sharjah.

Sharjah is an excellent market for practicing pharmacy businesses in the UAE. The government has taken necessary steps to ensure continued growth in the coming years by providing flexible government rules and regulations and offering good infrastructure for investors.

Therefore, the Ministry of Health's authority grants permission to participate in the pharmacy license in Sharjah. The increase in the number of expatriate populations requires the development of more cities and residential areas, leading to increased demand for pharmacies across the country.

Steps to Open Pharmacies for Sale in Sharjah

• Documentation Process: To establish a pharmacy license under the economic department, a licensed pharmacist approved by the Ministry of Health is required. All pharmacists must register with the Ministry of Health before practicing pharmacy in the UAE. Upon registration, they become eligible to practice as pharmacists in any pharmaceutical company in the UAE.
• Security Approval: Once details of the shareholders are submitted to the economic department, security approval is required to check if the expatriate has a criminal record in the country.
• Preliminary Approval: In the pharmacy license for sale in Sharjah, a UAE citizen owns 51% of the company's shares, while the expatriate owns 49%. Alternatively, a UAE citizen can own 100% of the shares.
• Trade Name Approval: Clients can reserve their company name, but the trade name is subject to approval from the economic department. Specific conditions apply for trade name approval.
• Legal Notarization and Memorandum of Association: A limited liability company requires a minimum of two shareholders, with a maximum of 50. Shareholders' liability is limited to the share capital. The memorandum of association includes details of shareholders, profit distribution, names of directors, etc. A UAE citizen in a limited liability company owns a 51% share but remains a silent partner, necessitating payment of sponsorship fees. Both expatriates and UAE citizens must be present in court to sign the memorandum of association.
• Site Approval and Lease Agreement: Mandatory pre-approval is required from the economic department for the pharmacy's location. Initially, the economics department inspects the building. Once site approval is granted, the floor plan must be submitted to the Ministry of Health with the signature of an approved equipment company.
• Commercial License Issuance: After completing the site approval process with the economic department and the Ministry of Health, the tenant can register under the company's trade name. After submitting the preliminary approval and a copy of the trade name, the owner can sign the lease agreement.
• Addition of Medical Director: After processing the work visa for the registered pharmacist under the pharmacy license and then applying to add them as a medical director in the pharmacy license.

Choosing the Right Location for Pharmacies for Sale in Sharjah

If you're eager to open pharmacies for sale in Sharjah, selecting the right location can be a significant challenge. When establishing a pharmacy, you'll need a thorough and effective plan that includes business practices, financial advice, continuous marketing, and legal aspects.

Seek Expert Advice

Begin by consulting experienced lawyers knowledgeable about independent pharmacy stores or retail trade. The initial step towards opening a small business is securing legal status. Choosing between a limited liability company, sole proprietorship, or partnership will impact the operation and finances of the pharmacy store.

Your chosen lawyer should be an expert in these areas. In addition to a lawyer, you'll need an insurance broker and an accountant. Seek advice in various areas such as human services, technology, and real estate. Once you sign the lease or purchase land for building pharmacies for sale in Sharjah, design the store and apply for the state license. Therefore, having a team of expert consultants to guide and advise you in each stage of building your pharmacy is essential.

Pharmacies for Sale in Sharjah, Develop a Business Strategy

Opening a pharmacy is not easy; it requires efficiency and an effective business strategy for success. Understand the population by analyzing demographics, including age, ethnicity, education level, etc.

Communicate with local customers to understand their needs. Evaluate market opportunities as the market plays a crucial role in the success of any retail store. Once you master these concepts, you can start planning the operational steps for the pharmacy.

Choose the Location Wisely

The location of your pharmacy will determine the traffic it attracts. When choosing your pharmacy's location, consider visibility, size, and accessibility to customers. Customers visiting your pharmacy should not have difficulty locating your store.

Pharmacies for Sale in Sharjah, Follow the Budget

Start by building a business plan and financial statements, considering the working capital required. Take into account the cost of constructing the store, renovations, fixtures, etc. Reserve initial stock funding to finance your initial inventory in the store.

Test Your Business Before Launch

While you may want to launch your store with a grand opening, it's always better to start with a month or two of operations to understand gaps and shortcomings in the store. Testing your business model in advance allows you to launch it on a broader scale.