How to Start a Pharmaceutical Company in 3 Easy Steps

Span Tech Pharmaceutical Conveyors

The pharmaceutical industry is booming. Scientific and technological advances are driving pharmaceutical innovation like never before. But what does this mean for you? It means there are more opportunities than ever for those looking to break out and start their own pharmaceutical distribution business.

Pharmaceutical distribution companies can most easily be described as the middleman between the drug manufacturing company and the retail pharmacy or end user. This industry is recession proof, making it an incredibly advantageous venture for any savvy entrepreneur. But it can be difficult to understand exactly how to start a pharmaceutical distribution company, navigating details right down to which pharmaceutical conveyors to use. That’s why we’ve put together a condensed, easy-to-understand guide for starting a safe pharmaceutical distribution business that can be successful long-term.

How to Start a Pharmaceutical Distribution Company

There are many steps and considerations involved when starting a pharmaceutical distribution company. The following is a brief overview:

      1. Hire a business consultant and determine your niche
      2. Create a successful business plan
        • Research competitors
        • Determine company structure
        • Choose the right equipment
        • Establish roles
        • Conduct SWOT analysis
        • Verify license requirements
    1. Establish your brand

 

Step 1: Stack The Deck In Your Favor

This is the first stage in planning your pharmaceutical distribution system and thus is twofold. This is when you build the true foundation of your company, which means having the right person (or people) in your corner and the right business in place.

  1. Start by hiring an experienced business consultant who fully understands the pharmaceutical industry. This person will be responsible for examining your overall business concept and determining if it would survive and thrive as it should.
  2. The second part is to thoroughly evaluate your business options. There are three routes you can take when starting your pharmaceutical distribution company:
    • Begin a pharmaceutical business with a manufacturing unit
    • Market medicines under your new brand name
    • Team up with an established drug manufacturer

Keep in mind that whichever option you go with will fully depend on your overall budget and business goals.

Step 2: Create A Successful Business Plan

Once you’ve settled on the type of pharmaceutical distribution company you’re going to start, you need to create a business plan. While you can’t guarantee that it’s going to be a successful plan, you can set your business up in a smart way to better your chances of success.

Research Potential Competitors

Research is a key step in the process of setting up your business. Knowing your competitors will give you a good idea of where and why they excel — and what they could improve upon. By studying their business model, you’ll be better equipped to come up with something even better.

Identify Upfront Expenses

Crunch the numbers and determine the total investment that will be required to start a pharmaceutical distribution company. This includes deciding whether steps like manufacturing, trials or pharmaceutical distribution will happen in-house or will be outsourced. Plan out everything that will be needed, including (but not limited to):

  • A production facility
  • An office space or building
  • Utilities (electricity, gas, water, Wi-Fi, etc.)
  • Lab equipment
  • Office supplies
  • Furniture
  • Machinery
  • Employee wages
  • Pharmaceutical industry conveyors
  • Pharmaceutical conveyor belts

Choose the Right Equipment

As mentioned above, choosing the right equipment is vital to running a reputable pharmaceutical distribution company. That includes any manufacturing and packaging equipment, including the appropriate conveyor belts for pharmaceuticals.

The best pharmaceutical conveyors will not only help ensure safety but also enhance efficiency. For example, you can eliminate potential tracking issues with the Span Tech EZSpan Belt Conveyor system and sort and merge with ease with the High Speed Switch.

You’ll also need to ensure your equipment doesn’t damage your product. The MiniLink chain conveyor system was specially designed to move small, delicate pills or packaging with care. These and all of Span Tech’s conveyors were thoughtfully designed and can be fully customized to alleviate potential manufacturing risks while improving overall workflows.

Establish Roles And Responsibilities

Running a pharmaceutical distribution company is not something that can be done with just a handful of people. You’ll need a full staff of qualified, knowledgeable and enthusiastic employees who have the same vision for the company as you do. This needs to be factored into your business plan and your total investment. Some roles that are vital to starting your business include:

  • A chief executive officer
  • A human resources manager and/or department
  • An inventory manager
  • A purchasing manager
  • A customer service executive and/or team
  • An accountant or accounting department
  • Various marketing and sales executives
  • Floor manager(s)
  • Floor employees
  • Janitor(s)
  • Security guard(s)
  • Truck driver(s)

It takes a lot of people to run a company. But by having the right team in place, you’ll alleviate a lot of the stress that can come with starting your own business.

Conduct SWOT Analysis

A SWOT analysis is where you take a hard look at your business plan’s strengths, weaknesses, opportunities and threats. In addition to completing a SWOT analysis of your own pharmaceutical distribution company, make sure to do one for each of your major competitors as well. This will give you a great overview and comparison of the market and where and how you fit into it.

Verify License Requirements

It’s vital when starting out that you research and acquire all necessary licenses for your city and state. The pharmaceutical distribution requirements will depend on your type of business but, in general, pharmaceutical startups are considered limited liability corporations. To find full listings of required licenses and permits, visit the U.S. Small Business Administration (SBA) website, the regional SBSA office and the Food and Drug Administration (FDA) website.

Step 3: Establish Your Brand

Once you’ve started your company, it’s time to take the proper steps to promote it by establishing a brand. Breaking into the pharmaceutical distribution industry and getting your products in front of the medical community can feel like a Herculean task. But by doing your research and investing in advertising and marketing, you’ll be one step closer to building a successful company. Advertising and marketing companies can help you create everything you need to get your name out there:

    • A logo
    • A brand image
    • A company mission
    • A website
    • A marketing campaign

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If you have the budget for it, a PR agency or a designated marketing communications team can also be invaluable to your business in the long term.

Understand that building your pharmaceutical distribution business will take a lot of time, money and work. But by taking the right steps, hiring the right team and using the right equipment, you’ll be well on your way to running a successful company.

Start Your Company Off Right With Span Tech Pharmaceutical Conveyors

Span Tech’s proven pharmaceutical conveyors and components are used to safely transport medication, small vials, bottles, vial pucks, blister packs, tubes, bags, small cartons and more. Browse our entire selection of pharmaceutical conveyors and solutions to build your company for success. Have a question or need more information? Contact our customer service team today. Whatever your needs may be, we can help design a custom pharmaceutical distribution system that can help make your business a success.

Top 6 Custom Distribution Conveyor Belt Features

Span Tech Custom Conveyors

As a distribution facility, you need your processes to run seamlessly so that each product arrives at its destination without trouble. You also want to make the most of your space. To achieve all this, you need a custom conveyor system that can handle tight turns and changes in elevation, while still reliably sorting packages. The following custom conveyor belts are capable of these functions and more to create optimal efficiency in your facility.

 

Vertical Switch

Vertical Switch Custom Conveyor Belts

Having custom conveyor belts that make use of vertical space can help you save room in your facility. The vertical switch lets you discharge packages at elevations that were previously not possible, and therefore use space that was previously unusable, creating a new level of efficiency for your workspace. The switch ramps gently lower your products from one level to the next, ensuring that they get where they need to go safely.

 

Traffic Cop

Traffic Cop Custom Conveyor

If you need to merge multiple lanes of product, but aren’t sure how to do it in an organized manner, the traffic cop is the solution. This custom conveyor feature uses two swinging arms to stagger product flow. One arm stays in place while the other allows a lane of traffic to pass through. Then, the other side opens after a set period of time, allowing one, two or more packages to slide through at once. The traffic cop offers you the needed control to keep your products flowing smoothly.

 

Spiral Elevator Conveyor

Spiral Elevator Custom Conveyor Systems

Like the vertical switch, the spiral elevator conveyor gives you access to vertical space that previously went unused. Custom conveyor systems with a spiral elevator can also give you a strategic time delay, so you won’t experience backups from products reaching their locations too quickly. This custom conveyor belt gently raises your products from one level to the next, allowing you to make the most of your space without damaging fragile items.

 

MicroSpan Transfer

MicroSpan Transfer Custom Conveyor Belt

When one end of a custom conveyor belt meets the beginning of another, there is generally a small gap between them. While this may not seem like a problem, it can cause major backups if smaller packages get caught in the gap. MicroSpan transfer conveyors help to avoid such hangups. The tiny conveyor belt bridges the space between the two larger conveyors, making a smooth transition to keep your business moving.

 

Helical Conveyor

Helical Conveyor Custom Conveyor Systems

Changing elevation and direction at the same time doesn’t have to be tricky, as long as you have the helical conveyor on your side. This custom conveyor’s unique design allows it to raise or lower your product while also changing its orientation. It offers the most aggressive elevation change to curve radius in the industry while still keeping your products free of damage. It’s just the investment you need to make your facility as ergonomic as possible.

 

Transpositor

Custom Conveyor Belt Transpositor

A more compact alternative to the helical conveyor is the Transpositor. This two-tiered custom conveyor belt uses a trap door to gently drop your products from the first level to the second. The belt on the second level rapidly spins perpendicularly to the belt above it. When the product is dropped down, the belt performs a right angle turn to reroute the product into its awaiting container. The drop is only a few inches, so even items such as frozen food in plastic containers can be distributed without damage.

 

Span Tech Has The Solution For Your Distribution Needs

Span Tech offers a variety of custom conveyor systems that will perfectly suit your distributing facility’s needs. To learn more about which distribution conveyor features will create the ideal system for your space, contact us to start your free estimate.

Custom Conveyor Belts and Conveyor Features for Packaging

Custom Conveyor Belt

Packaging conveyors are a must for transporting items quickly and efficiently. That’s why having a custom conveyor precisely for your needs is crucial to ensuring your products remain organized and undamaged. Let’s explore a few features that will help make your conveyor system perfect.

 

Transpositor

Transpositor

Right-angle turns are tricky maneuvers for ordinary packaging conveyors to pull off. The Transpositor helps make these tight turns easy. Its two-tiered system pulls the top section of conveyor away, almost like a trap door. The item then falls a few inches to a second conveyor belt which is rapidly spinning perpendicular to the first conveyor’s direction. This motion stops the item’s momentum and reroutes it into the waiting stationary container just over the conveyor’s edge.

While the Transpositor conveyor system involves some short drops, they are gentle enough to handle any package. Whether it’s frozen food in a plastic container or a regular box, you can rest assured that your products will reach the end of your custom conveyor belt system unharmed.

 

MicroSpan Transfer

Packaging Conveyor Systems

Even custom conveyor belts have to end somewhere. There is often another belt to meet the first one and keep your products’ journey going. The problem is the gap, no matter how small, that exists between the two belts. Even larger products can get lodged in the crack and cause major backups.

The MicroSpan Transfer is the simple solution to this issue. This small conveyor belt bridges the gap between the two main belts to prevent any item, even a small one, from getting stuck. It’s a simple addition for custom conveyor systems that will ultimately save your business a lot of time in troubleshooting.

 

Traffic Cop

Packaging Conveyor

This feature is necessary for packaging conveyor systems that merge two lanes of product into a single lane of output. The two swinging arms of the traffic cop stagger the flow of your packages and prevent collisions or other roadblocks. You also have the ability to control how long the pause will last, allowing one, two, or more units to be released from one lane at one time. This feature gives you the control you need to create the efficiency you want.

 

High Speed Switch

The High Speed Switch, like the traffic cop, is a custom conveyor feature that helps control product flow while maintaining product pitch. However, the switch adds in a sorting element, using guide rods to pull products away from each other or bring them together as needed. The powerful system can not only support up to four lanes of product switching and converging, but can also handle 24-hour continuous operation. It’s perfect for creating a nonstop production flow.

 

Twist Conveyors

Custom Conveyor Belts

Like the Transpositor, twist conveyors are are great for changing product orientation without an external device or human intervention. This packaging conveyor can reorient your product’s angle up to 90 degrees in 60 linear inches, so even the tightest turns are possible.

On top of turning products, twist conveyors can also handle elevational changes. Generally, if the twist occurs on the custom conveyor belt’s center line, the belt will have a natural decline. Taking advantage of the direction of the conveyor’s twist can give you the incline or decline you need after reorienting your product.

 

We Have The Solution To Your Packaging Needs

SpanTech offers a variety of packaging conveyors to suit your company’s needs. To learn more about what custom conveyor features are right for you and start a free estimate, contact us.

Top 4 Custom Conveyor Features For Manufacturing Facilities

Manufacturing Conveyor

Every business is unique, which is why it’s essential that each one has manufacturing conveyors that perfectly suits its needs. Consider the following features to create a custom conveyor system that sorts your products quickly and keeps your workers safe.

High-Speed Switch

If you have a wide variety of products to separate while maintaining product pitch, the High-Speed Switch feature is for you. This custom conveyor belt feature can support up to four lanes of product switching, converging, and sorting.

The High-Speed Switch uses a series of guide rods and conveyor chains to pull products away from each other and bring them back again. This powerful system can handle 24-hour continuous operation, meaning your production flow never has to stop.

Lexan Safety Guarding

This add-on is recommended for use in conjunction with the High-Speed Switch. The guarding covers the parts of the conveyor moving at the highest speeds, ensuring that your team members can perform their tasks safely. Lexan Safety Guarding can be placed at any point along your custom conveyor belts where you feel safety would be a concern.

Variable Frequency Drive

The Variable Frequency Drive (VFD) gives you complete control over the functions of your custom conveyor. From a single control center, you can start or stop the conveyor belt, change motor speed and direction, and transform power supply. VFD options are available for every SpanTech conveyor, so you don’t need to worry about missing out on it based on the model you choose.

Bump Rotate

Perhaps one of the simplest and most useful features you should add to your custom conveyor system is a Bump Rotate. The mechanical design easily rotates your product 90 degrees without the need for sensors or other powered automation. You can also place two Bump Rotates in succession to achieve a 180-degree rotation. This feature is perfect for operations that require a specific product orientation as they come off the line.

Find The Ideal Custom Conveyor For Your Business

Learn more about manufacturing conveyors that could be perfect for your industry. Then contact SpanTech for a custom quote and the most innovative conveyor solutions on the market.