There is no doubt about how big eCommerce has become these days. Millions of people who are dependent on the internet for their shopping needs. There are people who conduct their entire business over the internet. The numbers should tell you, the sheer size of the market. The eCommerce industry accounts for $14 trillion annual sales globally.
If that is not huge, we wonder what is. The most interesting thing about ecommerce is that it is growing at an unbelievable rate. Studies indicate that the current rate of growth is estimated at a 10% growth annually. And yet, there is a new business model you will see almost every day.
One such uncharted business model that is thriving but not yet very well known is the prescription delivery app business. It brings to you an exclusive prospect for aspiring or veteran businessmen to tap into this $30 billion industry. This massive industry is believed to reach the number of $55 billion dollars by the year 2020.
A medicine delivery startup might seem to be a difficult thing to begin however, if you understand the fundamentals behind it, it should be cake walk. The most important thing before you take the decision of starting an online pharmacy store or getting a prescription delivery app for it, you will have to get accustomed to all the rules and regulations that are a part of the business.
Getting a hang of how the business works
The basic of such an app is to ensure that the life of your customer becomes easier because you are giving them the option of being able to place an order for medicines from the convenience of their smartphones. They aren’t required to go anywhere, visit a shop or bargaining. Such an app is a blessing for every customer and is definitely the best way for pharmacies to make money.
Since it is so comfortable for people to use, naturally more and more people will migrate to using online solutions. But, the first step is to ensure that people know of this solution and that they can exploit it for their advantage.
Doing adequate research
Research is an absolutely critical part of every business. In fact, it is the first and foremost step that one must take when it comes to entering any kind of a new business. If you are wondering how to do the right kind of research then simply follow the given steps:
- Check legal procedures: every country has a different legal structure and different legal procedures for launching any kind of business. Laws may be unique to the kind of business as well.
- Study more about your competitors: Find out what your competition has been doing while you’ve been preparing yourself. Is there a business strategy that they have followed which has been successful? If yes, then make sure that you follow it too.
- Read up a little about your product too: make sure that you read up the basics of pharmacy related information. You have to make sure that you have at least some basic drug-related knowledge.
How will this medicine delivery startup make money?
Usually, the basis of the business is to ensure that the app owner is able to earn revenue each time someone makes a purchase on the application. This is in terms of a commission that gets deducted from the price of the pharmacy’s amount.
Basically, there are two ways to proceed with this prescription delivery app:
You are a pharmacy
If you are a pharmacy, you can have this prescription delivery app to help all your customers to be able to get the medicines that they need delivered to their doorstep with the help of the app. you can charge an additional convenience fee and thereby make the delivery possible.
If you are a pharmacist, the chances of more sale increases as your customers will love to purchase medicines from you as they know they will be getting proper one delivered at their doorsteps. A pharmacist is a more knowledgeable person about medicines. Through an app, people can even take advises from you about the intake process of the medicines.
You aren’t a pharmacy
If you aren’t a pharmacy, then you can have this app and offer it as a platform for different pharmacies to register and make their goods available there. For example, there are 15 pharmacies in your chapter. Your app can become the platform that all these pharmacies need. So, now instead of individually owning an app, these pharmacies can simply register with your app. And then make sure that their customers can order their medicines right there.
The app owner (that is you) will have drivers who will simply go to the pharmacy and pick up the medicines and then deliver it to the given address. Which means, whatever the pharmacy is the commission is taken every time the order is placed. But here, you will have to care about the delivery as if any wrong medicine is delivered to the wrong person, your business can come in danger.
Advertisements are the most convenient way to make money through an app. The target audience is fix if your app is doing well. Anyone from the wellness and healthcare world will be able to place their ads and you will earn some good money for the same.
This is a movement of inserting a featured section that showcases paid listings from pharmaceutical companies. On the homepage, search result and the page result both are in line .
The one important take away that you should have from this blog is a market prospect. The business of prescription delivery is quite huge. There are so many people all over the world who are trying to get into the foray of such services.
But, just like any other business whoever enters the business first is the one who manages to get the best possible clientele and the most loyal one. So, if you want to get your hands into the medicine delivery startup business, the time is absolutely right. Go for it!