Modern Retail Pharmacy Store Business Plan Completefmc Model

Modern Retail Pharmacy Store Business Plan Completefmc Model

Modern Retail Pharmacy Store Business Plan Completefmc Model - Modern Retail Pharmacy Store Business Plan. Health matters at most times revolve around retail pharmacy business, and therefore concerns retail pharmacy business plan which in turn affects how to start a pharmacy business and pharmacy marketing plans.

This post provides a guide on how to write a pharmacy business plan with pharmaceutical business plan example. If you are intending to start a pharmaceutical business whether retail or wholesale, this post highlights what you should do. It also gives you guide on how to get a professional type of Pharmaceutical  business plan.


Modern Retail Pharmacy Store Business Plan Completefmc Model

Modern Retail Pharmacy Store Business Plan Completefmc Model


In the light of this, every question raised in this post is very important for pharmacy business plan. I advise you take each one seriously because they project the highlights that should be in your business plan.

What is a pharmacy?

A pharmacy (drugstore) is different from a  "chemist's/medicine store". At the pharmacy, a pharmacist must be present to oversee the fulfilment of medical prescriptions and to give advice on their  uses.

A Medicine store is a generic title for a shop granted a licence to sell certain categories of drugs only.

Can You Start A Pharmacy Without Being A Pharmacist?

It's better that you are a pharmacist before starting this business. This is because your expertise and experience will play a very important role in promoting the business.

However, this does not mean you can’t start one if you are not a pharmacist. The fact is that as a professional job, a pharmacist must run it. So you have to get a pharmacist who will be at the helm of the activities. You can take care of the administrative and financial activities.

Modern Retail Pharmacy Store Business Plan Completefmc Model

Start-up Processes:

Starting any business at all requires that you lay the right foundation by dully following certain start-up processes. The business plan will highlight all of these. One of the foundations that you can lay is the drawing up of a business plan. This business plan is supposed to help you chart a great course as you start out and go through the teething stages of your business. 

As a matter of fact, Business plans may require that you employ the services of a business expert/consultant/coach  who will be able to help you work out the initial needs and requirements.. This of course would come with a fee. However, if you want to save such fees by writing your business plan yourself you can get an existing template and then you try to work on it. Here is such a sample retail pharmacy business plan you can work on.

As a point of note, if you need a professional touch for your start-up Modern Retail Pharmacy Store Business Plan – contact us. We are Retail  business plan professionals! Our firm is made of professional accountants , economists, project management experts etc.  who will give you the best business plan you desire.

Click here to get a consultant

What we will do for your to  start-up:

For you to start-up fine, we will do the following for you:
  • An Investor/loan acceptable  business plan
  • Do business research for your – Product, services, and marketing
  • Register your business with CAC Nigeria ( if you have not done so)
  • Give you  business coaching
  • Set-up your administrative system
  • Set up your accounting system
  • Take care of your Tax matters.

Modern Retail Pharmacy Store Business Plan Completefmc Model

What does the business plan contain?

The business plan will contain  the strategic operational and financials of the business. A good business plan will contain an  executive summary - summarizing the detail of the pharmaceutical  business proposal. It will also contain  an overview of the business' mission, and objectives. It will show-case  its products or services. A section of the executive summary  will be devoted to showing the profile of the  management team, and lastly summaries of the  financial forecasts.

Pharmaceutical  Products/Services

This section of the business plan will highlight all the types of the pharmaceutical  product that are in existence probably globally, with emphasis on your own choice products. It will do same for your services, depicting your specialised areas. What you have here is what you will tell us know how you will produce/procure them in the next paragraph.

Production/Procurement segment of this business is always very important:

This is the production/procurement section of the business plan. My dear, you will highlight all you need to do to produce/procure your products here. All the sources of your supplies will be enumerated here. 

Therefore, assurance of continual supply and conditions attached to them are to be enumerated too. If there are no products, there will be nothing to sell. The users of the business plan wants to feel some realities in what you are telling them. 

An investor would want to know how you will generate the revenue that guarantees his returns and safety of his investment. 

In addition, the management team wants to be guided on how to go about their procurement. In fact, this is why business plan is called Road Map. The management will always turn to this plan periodically measuring it with the realities on the ground. 

Therefore, If you tell the readers the quantity of products  you can procure periodically  at  a cost, they will be able to determine the unit cost of the goods. Every other cost of running this business depends on the unit cost of the product.

This is where a professional attention is very necessary.  A break-even analysis will help us get at the cost that will break-even for the business

Modern Retail Pharmacy Store Business Plan Completefmc Model

Modern Retail Pharmacy Store Business Plan Product Marketing Strategies:

If you procure goods and don’t sell, you will still not grow in the business.  By a model of aggressive marketing strategies you will be able to win a good turnover that will drive the business and  help you achieve your business goal.

Every aspect of strategic marketing  must be highlighted here. The market segmentation – geographically, demographically, physical or online, consumer classes of children, youth, elderly, the high net-worth, government, organisation etc. will all be highlighted.

Another type of market segmentation would be like those for Households, Corporate Executives, Business People, Elderly people, Expectant Mothers, Sports Men and Women, Students etc.

Thereafter, another aspect of this section will centre on the payment options. Here the credit format and terms will be spelt out.


Regulatory Agencies:

National Agency for Food and Drug Administration and Control (DAFDAC), Pharmaceutical organisation of Nigeria,  other health agencies, plus other public agencies activities as relate to this business will be highlighted here. Those are some of the risk elements in this business which the investors will  want to watch. 

SWOT Analysis:

At any stage of the business, there are evidences of the capacity/strength  or weakness of the business.  There are also evidences of opportunities and threats to survival on the business

SWOT analysis help in providing professional support in structuring your business. Watching your business strength will help you strategies and go with full strength to realise your goal, while minimising your weaknesses.

The strength of the business will help it maximise the opportunities available especially within and around the business environment, whose combination will  help the firm withstand the threats in form of competitions and environmental factors. An inclusive/comprehensive approach/structure of the business will enable the firm achieve its goals.

As you can see, these are what experts like our firm can handle. Truly, a layman can’t do this at all. Get in touch with us today right from the beginning of the business, and your future  nightmares will be taken care of today.

Modern Retail Pharmacy Store Business Plan Completefmc Model

Modern Retail Pharmacy Store Business Plan Financial Forecasts: 

A Pharmaceutical  business plan needs to include a sales forecast, cash flow forecast and a projected profit or loss account and balance sheet for at least  three years. The figures used here must be reasonable and realisable.  You must  avoid being over optimistic.

Feasibility Measurements:

This aspect of the plan will show researches made in various aspect of the plan. What comes out here will show whether the business will go on or not. If any business does not prove to be feasible here, it will be abandoned or redefined.

Marketing feasibility:  This feasibility study will generate the estimated turnovers and how to generate it. Every marketing expenses will be highlighted here, and very associated income will also be shown here.

Supply chain sensibilities:  The supply chain feasibility will highlight the sources of the goods, services or raw materials needed for the production/procurement of the goods and services. Every aspect of the business supply chain including supply of raw materials, related labour, transportation and other logistics will be highlighted here.  This narrative generates the business  cost of production/sales. Of course, turnover less cost of sales will give you the gross profit. You must watch this because, this should be able to cover your Operating cost (OPEX). 

Break-even analysis:  This aspect of the business plan will give you the turnover/production units that will cover your operating costs. If you know where your turnover equals your  total cost – a point of no gain, no loss, then you can now plan how to enhance the business.

This is one of the things our type of business plan will educate you with. Our mentoring or coaching approach will let you know how to analysis your business yourself.

Financial Analysis: This is where the entire business will be mirrored in an estimated financial statements. This is where you will produce the profit or loss account, balance sheet, cash flow statements, accounting ratios, financial assumptions etc.

Modern Retail Pharmacy Store Business Plan Completefmc Model

For Further Information:

Contact Complete Full Marks Consultants today to develop your "Modern Retail Pharmacy Store Business Plan Completefmc Model". Our expertise in  accounting and management consulting can give you the edge you need to make you stand out from the pile on an investor's and bank's desk. 

Every of our Business Plan has ICAN stamp affixed. This makes ours professional and authentic; no investor resists CFMC Limited made business plan.  Allow us to accompany you at this crucial early stage of your Pharmaceutical  business. At this time you need good knowledge of the business  - just let our team develop your Modern Retail Pharmacy Store Business Plan.

 For businesses whose turnover is less than N1,000,000.00 ( one million Naira), we give a free 1 year coaching services as long as at the end of the one year  we prepare the financial statements and process the tax returns.

You can contact us through +234 8034347851 or cfmclimited@gmail.com. If you want to send in enquiries, you can use our comment box on this page or fill in the follow by e-mail platform on this page too.  You can let your friends know this by making use of our social media - Facebook, tweeter etc share button below this post. A click will do the magic for you.

Modern Retail Pharmacy Store Business Plan Completefmc Model

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