Retail Pharmacy Store Business Plan Sample Template

Do you want to write a sample pharmacy business plan template, here is an example to use for starting a compounding or retail pharmacy store.

START UP PHARMACY BUSINESS PLAN SAMPLE

In starting a pharmacy business, it is important that you are a pharmacist who knows about drugs and how they are being administered and even if you are not a pharmacist, you can always get a pharmacist that will help in the business. Here is an independent pharmacy business plan sample that can be very helpful in writing your own business plan.

TABLE OF CONTENT

Business Name: Wonder Pharmacy Business

  • Executive Summary
  • Business Description
  • Our Products and Services
  • Vision Statement
  • Mission Statement
  • Business Structure
  • Market Analysis
  • Sales and Marketing Strategy
  • Financial Plan
  • Competitive Advantage
  • Conclusion

EXECUTIVE SUMMARY
Pharmacy business is a well thriving and lucrative business, though it needs lot of strategic planning and business coaching. Being in the pharmaceutical industry is a very good thing because there are great returns on investment. The pharmaceutical business is basically for developing, producing, and marketing drugs. One important thing about this industry is that it is highly regulated.

BUSINESS DESCRIPTION
Wonder Pharmacy Business is a well registered and licensed business that will be involved in the distribution and sales of high quality drug and other materials essential to health. The business is a family business owned by Godwin Thomas and his immediate family.

The major target market of the business will be Los Angeles, California. Godwin Thomas graduated from the university with a degree in pharmacy and has worked with two pharmaceutical companies which has given him valuable skills in the pharmacy business.

In pursuit of achieving our goals, we have been able to lease a facility for three years with the option of buying the facility when it is put up for sales. We have decided to launch out the business with one outlet but over time, we will be opening other outlets in key locations.

PRODUCTS AND SERVICES
We will be retailing a wide range of prescription drugs from different manufacturing companies to our customers and we will also engage in the sales of:

  • Beauty Products
  • Convenience Foods
  • Cosmetic
  • Postcards

VISION STATEMENT
Our vision is to establish a business that serves as a one stop pharmacy for basically all residents in Los Angeles and also to provide complementary pharmaceutical services for our customers.

MISSION STATEMENT
Wonder Pharmacy Business mission is to have a constant if not better growth in sales in the first three years of operation and also to set up a well standard business where all the needs of our customer’s health-wise are met.

We also aim to go beyond our customers’ expectations by providing quality products and excellent customer services in a loving way so that 50% of our customer base is repeated sales.

BUSINESS STRUCTURE
Mr. Godwin Thomas will be in charge of the day to day activities of the business considering the fact that he has experience and knowledge of the pharmaceutical business. In setting our business on the right path and in ensuring success of the business, we have decided to employ people who are hardworking, honest, goal centric, passionate and interested in the business so as to contribute to the growth and success of the business.

These people will be employed to occupy the following positions:

  • Chief Executive Officer(owner)
  • Business Development Strategist
  • Operation Manager
  • Store Manager
  • Merchandize Manager
  • Sales Agents
  • Accountant
  • Human Resources Manager
  • Cleaners

MARKET ANALYSIS
Market Trends
The major market trend in the pharmacy industry is influenced by the healthcare reform policies of the country because the pharmaceutical industry is highly regulated. The easiest way to build a solid pharmacy industry is to have several outlets across the city, this will make the business to continue growing and making more profits. The use of technology is also very important in managing the business effectively. For instance, the use of CRM software helps in managing clientele base.

Target Market
The pharmacy business is a business that meets the needs of everyone at some points in time but the fact that our business will be opened to many types of people does not stop us from having a category for our target market and they are:

  • Corporate Executives
  • Business People
  • Households
  • Elderly People
  • Expectant Mothers
  • Students
  • Sports Men and Women

SALES AND MARKETING STRATEGY
Since we are new in the business, we have decided to do the following in order to have a firm and successful standing in the industry:

  • Efficient delivery of service for online purchase
  • High quality and regular availability of drugs at fair prices
  • Satisfactory customer care services
  • Placing adverts on print, online and broadcast media
  • Installing billboards on strategic locations in California
  • Distributing fliers and handbills

FINANCIAL PLAN
The business can only be established with a startup fund of $100,000, out of which we have gotten 80% and the remaining 20% will be gotten form bank as loan.

COMPETITIVE ADVANTAGE
In regards to the high level of competition in the pharmacy industry, we have decided to do the following major things that will serve as competitive advantage for us and they are:

  • Excellent customer care
  • Fair and lowest possible prices
  • Well groomed management team
  • Having wide range of products

CONCLUSION
This is business plan sample for a pharmacy business which can be used as a guide in writing a specialty pharmacy business plan. This pharmacy business is owned by Godwin Thomas and will be located in Los Angeles.

 

SAMPLE 2

If you are looking for a sample pharmaceutical store business plan template, here is an example you can use for starting a retail medical supply store.

RETAIL MEDICAL STORE BUSINESS PLAN SAMPLE

Have you ever thought about starting a pharmaceutical store? If yes below follow through as I take you on a journey through what is needed to start the business. A pharmaceutical store is a store that deals with selling of drugs or medicine and administering this to patients.

Below is a pharmaceutical company business plan sample, which can be used as a guideline when preparing to start the business.

BUSINESS PLAN:  ZOE  Pharmaceutical Store

  • Executive Summary
  • Our Product and Services
  • Vision Statement
  • Mission Statement
  • Business Structure
  • Market Analysis
  • Sales and Marketing Strategy
  • Financial Plans
  • Sales Forecast
  • Conclusion

Executive Summary
ZOE  pharmaceutical store is a medicine store that has fulfilled all the requirements for starting the business in California, United State of America.  ZOE  pharmaceutical store will try as much as possible, in fact, more than possible to make sure they satisfy the needs of their customers and do all within the law to carry out its operation in the best way possible. Sam Franklin and Joe West will both be the owner and CEO of ZOE  pharmaceutical store. They have at present been able to contribute a total of $500,000 from sales of some of their properties and from their personal savings. They will be looking forward to getting a loan of $500,000 from their respective banks to complete the startup fund amounting to $1,000,000

Our Product and Service
ZOE  pharmaceutical store is a store that is located in California, United State of America. They will mainly be concerned with the selling of drugs for our customers. We will make sure all our drugs pass the required test and make sure when quality is also tested it will come out controlled.

Other services that will also be rendered involve:

  • Become a professional communicator with the patient and other healthcare personnel.
  • Deliver high quality of products and handle communicating with clients in the best and most respectable way.
  • Checking and dispensing of prescribed drugs for our customers.
  • Counseling of patients before or after administering medications

Our Vision
ZOE  pharmaceutical store looks forward to being the best supplier of drugs for its clients in California, United State of America. We are also looking forward to becoming a giant in the business before our 3rd year.

Our Mission
ZOE  pharmaceutical store mission in the business is to be able to provide any medication required by our customers at any time. We are also looking forward to satisfying them by providing them with the best communication link. We also want to grow a profitable business that will satisfy our patient’s health wise and satisfy us financially.

Business Structure
Our business structure is one defining factor that will tell if we will be successful in the business or not. We will make sure that our structuring will be done with utmost care so as to make sure we get the best out of the business. Based on the CV submitted by our prospective staffs and their customer relationship test, our recruitment process will be looking to fill these positions:

  • Manager (Owner and CEO)
  • Pharmacist(4)
  • Sales Personnel
  • Accountant
  • Security Personnel.

Market Analysis

Market Trend

A successful pharmaceutical store is that which sells original drugs as selling otherwise might rather lead to the closure of the business. Customer staffs relations also define the success of Pharmaceutical business. These are the known market trend in the business.

Target Market
ZOE  pharmaceutical store will be targeting everyone around as their prospective market. Almost everyone falls sick or at least take medications once in a while. Below are some of our highlighted targets:

  • Hospitals
  • Schools
  • Clinics
  • Families
  • Industries
  • Filling stations
  • Every other person in need of our services

Sales and Marketing Strategy
Since we know the importance of marketing to the success of our business, our business will at first be promoted greatly by our customers who have benefited from our store. Other methods have also been developed to accomplish the sole aim of marketing our products:

  • Online advertising will be done. We would be exploring all methods and means available to accomplish this. We would make use of popular social media platform to run our internet-based advertisements.
  • We will also make use of Television stations, Radio Stations, newspapers and Magazines to run a further advertisement for our business.
  • We will also make use of posters, billboards, fliers and business cards to inform people about our business.

Financial Plan
Source of Startup Capital
Sam Franklin and Joe West have as of present contributed a total of $500,000 as the starting capital for the business and are looking forward to covering the other expected startup capital amounting to $1,000,000 with a soft loan of $500,000 from their bank.

Sales Forecast
Below is a sales forecast for our pharmaceutical store that is ZOE  pharmaceutical store. This forecast is just a credible statistical estimate received from the industry database. This is the forecast for the first 3 years.

First Fiscal Year $950,000

Second Fiscal Year $1,200,000

Third Fiscal Year $1,500,000

Conclusion
This article contains a pharmaceutical store bearing the name ZOE  pharmaceutical store. The business will be operating from California, United State of America and will be owned by Sam Franklin and Joe West who have both been involved in different business before now.

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