How To Start Ayurvedic Medicine Manufacturing Unit?
How to Start Ayurvedic Medicine Manufacturing Unit- Ayurveda is also known as “Science of Life”. It was developed almost 5000 years ago. Being the oldest it is also the best science that has no side-effects. It is expected that it will grow at a 14% Compound Annual Growth Rate during the period 2019-2024. When people came to know the benefits of herbal products and the side-effects of modern medicines, they started spending a lot on herbal products instead of modern medicines. It’s time to start the Ayurvedic Medicine Manufacturing unit, it’s beneficial for an individual.
If you are thinking to start the Ayurvedic Medicine Manufacturing Unit, then we are going to discuss some tips and steps that can help you to start a successful Ayurvedic Medicine Manufacturing Unit. While starting a business one have to analyze market conditions, scope, demands, etc,. in the field. And a huge preference shift has created a great scope in the above business. And it’s a golden opportunity to start a profitable business venture for a novice enterprenaur.
Steps to Start Ayurvedic Medicine Manufacturing Unit
There are several steps that should follow while starting Ayurvedic Manufacturing Unit such as Choose premises, Apply for GST number, Choose Company name, etc. Let’s discuss these steps in-depth.
- Choose a unique name for your Ayurvedic company:- It’s the first and most important step, choose a unique name for you. Meanwhile, it should be easily pronounceable and remind-able. Letters in the name play a vital role, don’t put any silent character in the name, make it small and attractive.
- Apply for GST Number:- If you want to sell your products across India then, GST (Goods and Services Tax) is necessary. Apply for a GST Number for your Ayurvedic company after choosing a unique name.
- Choose premises:- It is the foremost step. Choose an accurate location for your business if you want to draw more and more profit in your business then, you must choose a location where there are extensive needs for your products and services. While choosing a location analyze the current market situation of that location and consider future scenarios too.
- Apply for Ayush Manufacturing License Number:- It is mandatory to have a manufacturing license number to manufacture Ayurveda products.
- Obtain certifications:- Get approval and certifications from higher authorities such as ISO, GMP, DCGI, WHO to manufacture products. These certifications will assure your consumers and doctor about your quality. These certifications mean, that the company or manufacturing unit has met all the requirements for standardization.
After choosing a unique name, obtaining all the certifications and approvals, choosing premises, considering consumer needs, selecting products, etc., you can proceed further. And you can start manufacturing Ayurvedic Medicine Manufacturing Unit.
Start Selling products
After getting all these steps done, choose the Ayurvedic product that has a huge need in the market and you want to manufacture and sell. And after selecting products start manufacturing. Now, you can sell your ayurvedic medicines or products in the market. Create a website for your company for selling medicines. It is the best option and used by numerous pharma companies. Or the second alternative for you is, Choose other common online portals such as Amazon India, Flipkart, Alibaba, Bigbasket, Shopclues, Paytm Mall, Snapdeal, etc. Or sell your products directly to the consumers with proper marketing and promotion strategies. And also you can create a large distribution channel all over India by Franchising your business. And Franchising is the best way of expansion of business in the pharma industry.
Summarizing:
From this write-up of Navayur Herbals, we discussed some essential steps to start Ayurvedic Medicine Manufacturing Unit. And following these steps, you can set-up a successful business in the Ayurveda sector. As we discussed above that the need for Ayurvedic or herbal products is increasing day by day. Considering these needs establishing an Ayurvedic medicine manufacturing unit at the moment is a great option to start a profitable business venture.