pharmacy business plan in uganda

How to Start A Retail Pharmacy In Uganda

Unlike other commodities, medicines are highly regulated supplies with the potential to cause serious harm that’s why there is an independent regulatory authority the National Drug Authority given the mandate to regulate the sale and distribution of these commodities.

Despite people, many of whom are non-medics starting and running successful pharmacy enterprises, they have been able to rely on input from experts in the pharmaceutical field to set up successful pharma businesses.

One of the most important factors influencing the profitability and overall success of the pharmacy is its location which in turn translates to the buying power of clients in that area. Pharmacies that are well located can take as short as 6 months to break even provided they are well managed.

In order to bring about healthy competition among pharmacy businesses, the National Drug Authority put in place minimum distance requirements between like-to-like pharmacies which varies depending on the area the pharmacy is located.

This means a pharmacy just can’t be started anywhere. You must meet distance requirements; the size and dimensions of the room (premise) should be of required specifications among other requirements of NDA. This makes obtaining a site that would meet all these requirements quite a challenging task. If in doubt, consult your pharmacist or an expert in the field to guide you accordingly.

When you identify a suitable location, then the application process begins. Using a reserved company name, apply for pre-inspection to the corresponding NDA Regional office where the proposed site is located.

The NDA Regional offices are located in the corresponding cities/municipalities for the regions mentioned herein Northern Region (Lira), Eastern Region (Tororo), South Eastern (Jinja), West Nile (Arua), Western (Hoima), South Western Region (Mbarara)

Below is a stepwise process.

• Register a business entity either as a company or partnership indicating pharmaceutical business as one of your objectives.
• Choose suitable premises for a pharmacy, consult about their suitability then apply for pre-inspection at NATIONAL Drug Authority.
• After inspection of your premises, the National Drug Authority will issue you an approval letter to go ahead and organize the premise and apply for inspection in the event that it passes the minimum distance and space requirements amongst other pre-requisites.
• Engage a duly registered pharmacist who is a resident in Uganda and incorporate him/her as director in case of a body corporate or as a partner in case of partnership.
• Your pharmacist will then apply for the 2nd inspection of the premise submitting all the necessary documents e.g., Certified copies of certificate of incorporation, company form 20, certified Memorandum and Articles of association, TIN, etc.
• An invoice is then generated by NDA upon fulfillment of all the requirements. Upon payment of the prescribed fee, an inspector is allocated to the pharmacy.
• After inspection and upon passing, a license and certificate of suitability of premises is then given to you and the pharmacy can start operation.

Should you need any further consultation on the nitty-gritty while on your quest to establish a pharmacy, don’t hesitate to send us a WhatsApp message for additional guidance on +256701556650.

27 comments

Okot James Oyengolobo

September 4, 2021 at 1:04 pm

What’s the required distance between one pharmacy and another in a municipality

September 7, 2021 at 6:26 pm

Hi James. The distance requirement has been adjusted from 300m to 150m for municipalities. Thanks

Kirunda Emmanuel

January 18, 2023 at 4:25 am

Can a diploma pharmacist also suit to work as a pharmacy director?

April 5, 2022 at 12:24 pm

Thank you so….am requesting for a detailed list of requirements to start a pharmacy in uganda and their costs as well.

kiggundu peter

April 10, 2022 at 11:25 am

What is the difference between a company and partnership?

Mwindo Enock

April 20, 2022 at 4:04 pm

Can a retail pharmacy operate on the same building where clinic is operating behind but fully separately I need your advise

Timothy Arthur

April 21, 2022 at 7:41 pm

What is the suitable capital to start a pharmacy at a good standard roughly??

July 26, 2022 at 4:26 pm

How long can that pharmacy registration take?

August 23, 2022 at 5:16 am

Helo, I want to register as a sole proprietor, do i need a pharmacist as a director coz me am not in the field of pharmacy

kiwalabye kassim

August 25, 2022 at 9:12 pm

what is the minimum capital to start pharmacy like kira side ,can 30m work

Bwire David

August 26, 2022 at 9:57 am

I some advice on pharmacy business.

August 26, 2022 at 9:58 am

I need some advice on pharmacy business.

Kizito Enock

August 29, 2022 at 2:18 pm

September 16, 2022 at 3:13 pm

Thanks a lot dear vexa. What is the minimum capital to start a pharmacy in n Uganda town council like kiboga

Thembo Jamal

November 14, 2022 at 10:28 pm

Like if you want open adrugshop and cosmetics around kibuli behind mukwano factory selling all types of drugs does it require apharmacist or anurse

January 1, 2023 at 3:25 pm

Can I operate a pharmacy with a diploma in nursing

February 26, 2023 at 3:03 pm

Thanks for the information

Namataka Aidah

February 27, 2023 at 7:11 am

Can a diploma in pharmacy help me to obtain a license to operate a pharmacy?

Odongpiny Nicholas

March 13, 2023 at 8:21 pm

I want to open a whole sale and retail pharmacy, where can I get my supplier?

Erionu Denis

March 17, 2023 at 3:29 pm

What is the waulification of the pharmacist needed to open a pharmacy?

Kamugisha sadic

August 1, 2023 at 7:58 pm

Is a diploma holder eligible for opening a pharmacy

Nakami Emmily

September 5, 2023 at 12:57 pm

I hv gone through the information and understood,thanx.but my question is can I use a clinical officer to open up a drugshop. Am also requesting you to send for me a detailed list of requirements needed to open up a drug shop in central region.am a nurse and the period it takes for the whole process of registration

Yosief Teklezgi

September 10, 2023 at 7:53 am

1.can a foreigner buy or own a pharmacy in Uganda. 2.can a non pharmacist buy or own a pharmacy in U ganda,if so What are the criteria s or requirements.

Wamalelo Aron

September 19, 2023 at 12:45 pm

What are the exact steps to start a drugshop,am a certificate nurse am I allowed to start a drugshop,how much can it roughy

September 19, 2023 at 12:48 pm

What are the steps to start a drug shop,am a certificate nurse,am I allowed to start my own drugshop,and how much can it roughly cost for processing till onset of operation

November 9, 2023 at 2:49 pm

Pharmacy for sale available

Vexa Pharma Consult

December 4, 2023 at 6:12 am

Please reach-out via email for so as we can discuss this further

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Pharmacy Business Plan

Many pharmacists dream of opening their pharmacies. But more often than not, the collection of funds and resources becomes an overwhelming and off-putting process.

But it doesn’t need to be. A pharmacy business plan can help you at every step of setting up your pharmacy business.

If you are planning to start a new pharmacy business, the first thing you will need is a business plan. Use our sample Pharmacy Business Plan created using Upmetrics business plan software to start writing your business plan in no time.

Before you start writing a business plan, spend as much time as you can reading through some samples of medical and health-related business plans .

Industry Overview

The pharmaceutical industry stood at a market value of 1.27 trillion dollars in 2020 and has shown remarkable growth in the past two decades.

The advancement of research and development in the medical field has played a significant role in the growth of the pharmaceutical industry. Also, better production and distribution have changed the way people get medicines.

From online pharmacies to home deliveries, the face of the pharmacy industry has changed and become more convenient.

Also, with the growth of access to information, it has become more competitive too. But if done the right way, the pharmacy business is an extremely profitable one as well.

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Things to Consider Before Writing a Pharmacy Store Business Plan

Check your legal requirements.

A pharmacy business requires a fair amount of licenses and permits. It is good to have a checklist of all the required licenses and to see if you have to get any of them.

Research what permits your state requires as well as the ones mandatory for everyone. It helps you stay on the good side of the law.

Pick a good location

A pharmacy setup requires a fixed minimum area. Also, a pharmacy that is easily accessible is more likely to succeed than one which is unreachable during emergencies. Hence, picking a good location is important .

Also, you can pick between starting a physical store or going online. Both business structures would have their pros and cons. You should pick the one that is the best for you.

Have a proper storage facility

Different medicines and formulas have different storage requirements. You’ll keep most of them in cool and dry places though. Bad storage can cost a pharmacy business dearly, even if you do everything else right.

Hence, it is important to have a good and ideal storage facility before you get started.

Check if your staff has the proper technical knowledge

You need technical knowledge and attention to detail to fare well as a pharmacist and so does your staff. As dealing with medicines is quite a critical job and can have consequences if not done right, it is important to find staff who know what they are doing and are well-trained and up to the job.

After you figure out some of the technical requirements, it is essential to figure out the business side of running a pharmacy. Planning, in the beginning, can save you from a lot of trouble later on.

Chalking Out Your Business Plan

A business plan helps you stay prepared for challenges, make better decisions, and formulate better business strategies. A pharmacy business takes a fair amount of legal procedures and competitive strategies, a pharmacy business plan can help you with that.

Reading some sample business plans will give you a good idea of what you’re aiming for. Also, it will show you the different sections that different entrepreneurs include and the language they use to write about themselves and their business plans.

We have created this sample pharmacy business plan for you to get a good idea about how perfect a pharmacy business plan should look and what details you will need to include in your stunning business plan.

Pharmacy Business Plan Outline

This is the standard business plan outline which will cover all important sections that you should include in your business plan.

• Keys to Success
• Business Ownership
• Summary Chart
• Business Model Description
• Mail order customers
• Walk-in customers
• Target Market Analysis
• Target Market Segment Strategy
• Competitive Edge
• Marketing Strategy
• Sales Forecast
• Development Requirements
• Personnel Plan
• Important Assumptions
• Break-even Analysis
• Projected Profit and Loss
• Projected Cash Flow
• Balance Sheet

Let’s understand how you can write each section of the pharmacy business plan.

1. Executive Summary

The executive summary section forms the first page of your business plan. It summarises all that your business stands for.

The executive summary section consists of the following subsegments:

• Objectives : This segment consists of the reason you started your business in the first place. What is your idea behind it and what problem do you plan on solving with it?
• Mission : Your mission statement should reflect how your pharmacy business can help people, apart from providing them with medicines. It reflects how your idea can deal with a problem more optimally.
• Financial Summary : This section would consist of the funding requirements of your business, and how the said funds would be put to use. It serves the main purpose of the executive summary, which is to get your business funded.

As a pharmacy business, your executive summary would consist of the type and size of your pharmacy business, your team, your qualifications and licenses, and a summary of your financial plan.

2. Products and Services

This section consists of a description of all the products and services your pharmacy offers.

For example, apart from your general products, this section can also consist of services your pharmacy offers like home delivery of medicines, subscription packages, online orders, etc.

3. Market Analysis

Market analysis helps you understand what you are getting yourself into. It also helps you make sense of all the research you have done and how you can put it to use for your business.

It consists of the following subsegments:

• Market Segmentation : Through market segmentation, you separate your target audience from the rest of the market based on their age, gender, income, occupation, medical conditions, etc.
• Market Positioning : In this segment, you can add an analysis of where you stand in the current market. And what would be the best marketing strategy for you as per your position?
• Target Market Analysis : In this section, you’ll write down an analysis of your target market, and their tastes and preferences.

As a pharmacy business, you can list down the type of pharmacy you own, your target customer base, the kind of services they like, the location they’ll prefer, and how they buy their medical supplies.

4. Strategy And Implementation

After you carry out market analysis, the next step would be to create a marketing strategy based on the same. This section helps you promote your business to your target audience.

This section consists of the following subsegments:

• Competitive Edge : Include your competitive advantage in this section. Include how your product is better than your competitor’s and how you’ll use that to your advantage.
• Marketing Strategy : Your marketing strategy should speak to your target audience. Your campaign should show your customers how your business solves a pressing problem.
• Sales Strategy : A sales strategy should be formulated after surveying what works best for your specific industry.

As a pharmacy business, you can center your marketing around safe products, better service, and availability. According to various surveys, KAM, clinical sales force, and service rep model are three of the most successful strategies for pharmacies.

5. Web Plan

With everything going online, a website strategy is of utmost importance. With online pharmacies like mail, my prescriptions, and Amazon pharmacy coming up, having an online presence is crucial to being seen by your consumers.

Moreover, an eCommerce website can also serve as a good alternative if you don’t want to go through the hassle of owning a physical store.

Nonetheless, building your online presence can help you in getting noticed. It is also a good method of promoting your brand idea.

6. Financial Plan

This section would consist of everything about your company’s finances. From your financial history to your projected profits, your financial plan would cover it all.

A good financial plan helps your business survive and thrive.

This segment consists of the following subsegments:

• Financial Resources : This segment would consist of the investment you can put in your business, as well as other resources for meeting your funding requirements.
• Funding Requirements : This would consist of the funding requirements to set up your pharmacy and keep it going.
• Projected Cash Flow and Profits : This section would consist of your business’s expected cash flow and profits in the long term.

Download a sample pharmacy business plan

Need help writing your business plan from scratch? Here you go;  download our free pharmacy business plan pdf  to start.

It’s a modern business plan template specifically designed for your pharmacy business. Use the example business plan as a guide for writing your own.

The Quickest Way to turn a Business Idea into a Business Plan

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Pharmacy Business Plan Summary

In conclusion, though a pharmacy business might take a lot of work, you can make running your business a lot easier and smoother with a business plan.

A business plan helps you stay organized and updated as per market trends and changing environment of the industry.

After getting started with Upmetrics , you can copy this sample pharmacy business plan template into your business plan and modify the required information and download your pharmacy business plan pdf or doc file.

It’s the fastest and easiest way to start writing your business plan.

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Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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Pharmacy and drug shops

A pharmacy is a dedicated store where all the prescribed and compounded medications are sold. A pharmacy only dispenses drugs upon prescription and must be done by a licensed pharmacist.

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What are drug shops?

Drug shops are small ‘walk-in’ health care shops that sell over-the-counter drugs. They are lower-tier retail outlets that are only supposed to dispense Class C category of drugs.

Please note : a drug shop must be located not less than 1.5km from a pharmacy

How do I register a pharmacy and drug shop?

 All businesses in the health sector in Uganda are required to be registered with

• Uganda Registration Services Bureau (URSB) for business name
• Uganda Revenue Authority (URA) for taxes

Please note

Upon registration, players in the health sector are required to comply with the requirements of relevant authorities like:

• National Drug Authority (NDA)
• Uganda Nurses and Midwives Council (UNC) for license
• Uganda Medical and Dental Practitioners Council (UMDPC) for license
• Trading license

What is required to register a pharmacy and drug shop?

For individual

• National ID or any other two of the following valid identification documents;  Passport, Driving permit, Voter’s card, Village ID, Employment ID, Refugee ID, recent Bank statement, Work permit, financial card, Visa, NSSF card etc.
• Certificate of registration (incase you are in business)
• Statement of particulars and partnership deeds (incase of a partnership)

For non-individual

• Company Form 20
• Certificate of incorporation

Click here for details on requirements for registration

How can a pharmacy or a drug shop business register for taxes?

• You’re required to visit the URA portal on ura.go.ug
• Click here to register as an individual
• Click here to register as a non-individual

What are my rights and obligations as a taxpayer?

Click here for your rights  as a taxpayer

Click here for your obligations as a taxpayer

Computation of income tax for a drug shop

This is a tax paid by a business that makes total sales in excess of Ugx 10,000,000 and not exceeding150,000,000 in a given year. This business should at least make sales of Ugx 830,000 in a month.

Below are the rates that apply.

• The tax paid by the presumptive taxpayer shall be a final tax on the business income of a taxpayer
• No deductions shall be allowed for expenditures or losses incurred in the production of business income and;
• No tax credits are allowed to reduce the tax payable on the business income.
• If you file under the presumptive regime and your income exceeds Ugx 10,000,000, the system will generate a payment registration slip and this will double as a return filed.

What taxes are applicable for pharmacies?

corporation tax

This is tax imposed on all companies in Uganda inclusive of pharmacies at a standard rate of 30%.

Pay As You Earn (PAYE)

Any person managing a pharmacy business and has employees earning a monthly salary more than 235,000 is required to register for Pay as You Earn (PAYE), withhold and remit tax to URA.

Click here for PAYE rates

Withholding tax (WHT)

This tax is deducted by a designated WHT agent from any supply received by a pharmacy whose transaction value exceeds One Million Shillings (Ugx 1,000,000), provided these items are not exempted from Income tax

Click here for more information on withholding tax

How do I file a return?

Click here for information on how to file your return.

How do I pay taxes to URA?

After filing a return, you’re required to pay taxes due using available payment platforms e.g. banks, mobile money, EFT, RTGS,VISA, Mastercard, USSD code (*285#) etc.

Click here to register a payment

For more information, visit the nearest URA office for assistance or call the toll-free line 0800117000/0800217000 or WhatsApp: 077214000

How do you find this resource?

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How To Start A Pharmacy Business In Uganda, Create A Lucrative Pharmacy Business

The pharmaceutical business is quite demanding and requires a lot of training and capital to start. They are considered very important especially in an area where the hospitals are far and one has to seek medical attention or in case of an emergency. The business is very lucrative as the demand for medicine keeps on the increasing day in day out.

How much capital to start a pharmacy business in Uganda?

To start a pharmacy there are things that one has to put into consideration such as the cost of renting a shop, the cost of advertising, the cost of stocking the pharmacy with drugs, and wages if there will be employees.

Steps to start a pharmacy business in Uganda

To start a successful business in Uganda there are things one has to do and necessary permits one has to acquire. Some of the steps are as below;

• The first step is to know the type of business you want to start and acquire a unique business name.
• The next step is to register your company with the Register Company and later be issued with the certificate of registration.
• Acquire all the necessary licenses from the Ministry of Health and Fire Department. This ensures the safety of your employees as well as yours and also the consumer’s safety especially businesses that deal with food.
• Register with the local authorities to get a trading license or operating permits.
• For Tax, purposes register with the Uganda Revenue Authority. Once you register your pharmacy business in Uganda you will be given a Tax Identification Number that will be like your account number.

Tips to start a pharmacy business in Uganda

• Have a business plan that you will follow to the latter. It will help you manage your finances and not overspend.
• Advertise your business using posters and even on social media platforms. Tell your friends to tell other friends so that your business can grow.
• Study the strengths and weaknesses of other businesses in the same field as yours and get to know how they work with them.
• Look for a location with the target market. Urban places, near town centers, and shopping malls are some of the best places to start almost any business.
• Hire competent employees who will deliver quality work and follow all the rules put in place.

This simple and easy article Was Last Updated on June 13, 2022 by Editorial Team

Please you wish to visit this post “https://thebusinessalert.com/how-to-start-a-pharmacy-business-in-uganda/” ocassionally for changes and updates that we will make to this article.

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In the year 2022, we bring you the best of banking and money transfer experience. Just stay tuned for more articles.

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Pharmacy Business Plan Template

Pharmacy business plan.

If you want to start an independent pharmacy or expand your current one, you need a business plan.

Over the past 20+ years, we have helped over 5,000 entrepreneurs and business owners create business plans to start and grow their pharmacy businesses.

How To Write a Business Plan For A Pharmacy

Below are links to each section of a business plan for a pharmacy business providing a template for you to write your own.

• Executive Summary – The Executive Summary of your pharmacy business plan should provide an overview of your business concept, key objectives of your business and a snapshot of the market opportunity.
• Company Overview – The Company Overview section should provide an overview of your company, including history, mission statement, legal structure, retail locations, and any relevant information about your business.
• Industry Analysis – The Industry Analysis section should describe the pharmacy industry and market, including size, growth, trends, and major players.
• Customer Analysis – The Customer Analysis section should describe your target customer, including demographics, needs, and buying habits.
• Competitive Analysis – This section should describe the competitive landscape in your market, including major players, market share, and any unique selling points.
• Marketing Plan – The Marketing Plan section should describe your approach to marketing, including your marketing mix, strategies, and tactics.
• Operations Plan – The Operations Plan section should describe how your pharmacy will operate, including details on facilities, equipment, inventory, and security.
• Management Team – The Management Team section should describe the management team, including bios and experience.
• Financial Plan – The Financial Plan section should include a 5-year financial projection, including pro forma income statements, balance sheets, and cash flow statements.
• Appendix – The Appendix should include any supporting materials, such as market research, competitive analysis, customer surveys, etc.

Next Section: Executive Summary >

Pharmacy Business Plan FAQs

What is the easiest way to complete my pharmacy business plan.

Growthink's Pharmacy Ultimate Business Plan Template allows you to quickly and easily complete your business plan.

Where Can I Download a Pharmacy Business Plan PDF?

You can download our pharmacy business plan PDF template here . This is a business plan template you can use in PDF format.

What Is a Pharmacy Business Plan?

A business plan provides a snapshot of your pharmacy as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.

Why Do You Need a Business Plan for a Pharmacy?

If you’re looking to start a pharmacy or grow your existing pharmacy you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your pharmacy in order to improve your chances of success. Your plan is a living document that should be updated annually as your business grows and changes.

What Are the Sources of Funding for a Pharmacy?

Pharmacy businesses are usually funded through small business loans, personal savings, credit card financing and/or angel investors.

Where Can I Find a Pharmacy Business Plan Example?

The following sample pharmacy business plan was designed for a sole proprietorship pharmacy called The Medicine Shoppe which provides online services as well as a retail location.

Executive Summary

The Medicine Shoppe is a side delivery company that plans to open its doors on October 1, 20XX. The company will be open Monday to Friday from 9am to 9pm, Saturday from 9am to 5pm, and Sunday from 10am to 4pm. The Medicine Shoppe will use QuickBooks for its accounting and bookkeeping needs and will accept payment by cash, check, and credit card. The company plans to offer a discount for customers who pay in cash.

The company plans to offer delivery services for its customers. The delivery fee will be $5 for orders under $50 and free for orders over $50. The delivery area will be a 5-mile radius from the store. The company plans to offer a loyalty program for its customers. Customers will earn 1 point for every $1 spent at the store and points can be redeemed for discounts on future purchases. The Medicine Shoppe also plans to sponsor community initiatives such as blood drives and flu shot clinics.

The Medicine Shoppe has been capitalized with $1 million from the founders and plans to generate $2 million in revenue within the first year of operation. The company plans to break even within the first year of operation and generate profits in year two of operation. The Medicine Shoppe plans to reinvest its profits back into the business to fuel growth. The company plans to use its profits to open new locations, expand its product and service offerings, and improve its marketing efforts.

Company Overview

Our mission statement is “ The Medicine Shoppe is dedicated to providing quality medical care and services to our patients and customers. ”

The Medicine Shoppe is a full-service pharmacy business that will be located in the heart of downtown Santa Barbara, California. The company will offer both online and retail services to its customers. The company plans to offer a wide range of products and services, including prescription medications, over-the-counter drugs, vitamins, supplements, medical equipment, and more. The company will also offer delivery services for its customers.

The Medicine Shoppe will be owned and operated by Aimee Stewart, a registered pharmacist with over 10 years of experience. Ms. Stewart has a bachelor's degree in pharmacy from the University of Southern California and is a member of the California Pharmacists Association.

The company plans to open its doors for business on October 1, 20XX.

Industry Analysis

The pharmacy industry is a highly regulated industry with strict laws and regulations governing the distribution of drugs and other pharmaceutical products. In order to operate a pharmacy, businesses must obtain a license from the state in which they plan to do business.

The pharmacy industry is a highly competitive industry. There are many large, national chains such as CVS, Walgreens, and Rite Aid that have a significant presence in most markets. In addition to the national chains, there are also many regional and local pharmacies. These businesses compete on price, selection, customer service, and convenience.

The pharmacy industry is growing at a moderate rate. According to the National Association of Chain Drug Stores, total sales for the US pharmacy industry are expected to reach $371 billion by 2020. This growth is being driven by an ageing population, new medications, and increased access to healthcare.

The Medicine Shoppe will compete in the pharmacy industry by offering a broad range of products and pharmacservices, competitive pricing, superior customer service, and convenient online and retail locations.

If The Medicine Shoppe does not establish a strong reputation, it could lose customers to its competitors. The company could also be adversely affected by changes in the economy or healthcare industry.

Customer Analysis

The target market for The Medicine Shoppe will be the residents of Santa Barbara County. Santa Barbara County is a large county with a population of over 700,000 people. The median age in the county is 38 years old, and the median household income is $70,000.

The county has a large number of retirees, as well as a significant number of young families. These groups will be the primary target market for The Medicine Shoppe. The company plans to appeal to these groups with its convenient location, a broad selection of products and services, and competitive pricing.

Our target demographics include:

• Families with young children
• Individuals with chronic health conditions
• People who are uninsured or underinsured
• People who have a high deductible health insurance plan
• People who take multiple medications

The psychographics of this market include:

• People who are health-conscious
• People who are price-conscious
• People who value convenience
• People who value customer service

Competitive Analysis

As mentioned earlier, the pharmacy industry is a highly competitive industry. The Medicine Shoppe will compete against national chains, and regional and other local pharmacies.

Some of the specific competitors that The Medicine Shoppe will face include CVS, Walgreens, Rite Aid, and Pharmaca. These businesses are all large, well-established companies with significant resources. They also have a large presence in the Santa Barbara market.

Our strengths include:

• The Medicine Shoppe will be owned and operated by a registered pharmacist with over 10 years of experience.
• The company plans to offer a wide range of products and services, including prescription medications, over-the-counter drugs, vitamins, supplements, medical equipment, and more.
• The company will also offer delivery services for its customers.
• The Medicine Shoppe will have a convenient location in Santa Barbara County.

Our weaknesses include:

• The Medicine Shoppe is a new business and does not yet have an established reputation.
• The company will be competing against large, well-established businesses.
• The Medicine Shoppe does not have the same level of resources as its competitors.

The Medicine Shoppe will compete against these businesses by offering a more personal level of customer service, a broad range of products and services, and convenient online and retail locations.

Marketing Plan

The Medicine Shoppe will use a mix of marketing channels to reach its target market. These channels include online advertising, print advertising, and public relations.

Online Advertising

The Medicine Shoppe will use Google AdWords to target people who search for keywords related to pharmacy, medications, supplements, and more. The company will also use retargeting to reach people who have visited its website in the past.

Print Advertising

The Medicine Shoppe will use print advertising to reach its target market. The company plans to place ads in local newspapers and magazines. The ads will feature coupons and discounts to encourage people to try The Medicine Shoppe.

Public Relations

The Medicine Shoppe will use public relations to generate positive buzz about the company. The company plans to write press releases and pitch stories to local media outlets. The company will also host events and sponsor community initiatives.

Sales and Promotions

The Medicine Shoppe will offer discounts and promotions to its customers. The company plans to offer a 10% discount to seniors and a 20% discount to families with young children. The company will also offer free delivery for orders over $50.

Customer Service

The Medicine Shoppe will focus on providing excellent customer service. The company plans to offer a satisfaction guarantee for all of its products and services. The company will also train its employees to be friendly and helpful. This will help The Medicine Shoppe to build a loyal customer base.

Operations Plan

The Medicine Shoppe will be located at 123 Main Street in Santa Barbara, California. The company plans to lease a 2,000-square-foot retail space. The Medicine Shoppe will have a pharmacy, a retail area, and a waiting area for customers.

The company plans to hire 5 employees. These employees will include a pharmacist, 2 pharmacy technicians, and 2 customer service representatives. The Medicine Shoppe will also use the services of an outside delivery company.

The company plans to open its doors on October 1, 20XX. The hours of operation will be Monday to Friday from 9am to 9pm, Saturday from 9am to 5pm, and Sunday from 10am to 4pm.

The Medicine Shoppe will use QuickBooks for its accounting and bookkeeping needs. The company plans to have a separate bank account for its business activities.

The Medicine Shoppe will accept payment by cash, check, and credit card. The company plans to offer a discount for customers who pay in cash.

Day-To-Day Operations

The Medicine Shoppe will be open Monday to Friday from 9am to 9pm, Saturday from 9am to 5pm, and Sunday from 10am to 4pm.

The company plans to offer delivery services for its customers. The delivery fee will be $5 for orders under $50 and free for orders over $50. The delivery area will be a 5-mile radius from The Medicine Shoppe.

The company plans to offer a loyalty program for its customers. Customers will earn 1 point for every $1 spent at The Medicine Shoppe. Points can be redeemed for discounts on future purchases.

The Medicine Shoppe will host events and workshops on a regular basis. These events will be open to the public and will focus on topics such as healthy living, fitness, and nutrition.

The Medicine Shoppe will sponsor community initiatives such as blood drives and flu shot clinics. The company plans to partner with local nonprofits to make a positive impact in the community.

Long-Term Goals

The Medicine Shoppe’s long-term goal is to become the leading provider of pharmacy services in Santa Barbara. The company plans to achieve this goal by expanding its product and service offerings, increasing its marketing efforts, and improving its customer service.

The Medicine Shoppe also plans to expand into other markets. The company plans to open new locations in Los Angeles and San Diego. The Medicine Shoppe will also consider franchising opportunities in the future.

The Medicine Shoppe plans to generate $2 million in revenue within the first year of operation. The company plans to achieve this goal by increasing its customer base and expanding its product and service offerings.

Management Team

Aimee Stewart, a licensed pharmacist with more than 10 years of experience, is the pharmacy owner and will manage and run the Medicine Shoppe. Ms. Stewart holds a bachelor's degree in pharmacy from the University of Southern California and is a member of the California Pharmacy Association.

Financial Plan

The Medicine Shoppe has been capitalized with $1 million from the founders. This funding will be used to lease a retail space, purchase inventory, and hire employees.

The Medicine Shoppe plans to generate $2 million in revenue within the first year of operation. The company plans to achieve this goal by increasing its target market and expanding its product and service offerings.

The Medicine Shoppe plans to break even within the first year of operation. The company expects to generate profits in year two of operation.

The Medicine Shoppe plans to reinvest its profits back into the business to fuel growth. The company plans to use its profits to open new locations, expand its product and service offerings, and improve its marketing efforts.

PHARMACY BUSINESS PLAN OUTLINE

• Pharmacy Business Plan Home
• 1. Executive Summary
• 2. Company Overview
• 3. Industry Analysis
• 4. Customer Analysis
• 5. Competitive Analysis
• 6. Marketing Plan
• 7. Operations Plan
• 8. Management Team
• 9. Financial Plan
• 10. Appendix
• Pharmacy Business Plan Summary

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• Open access
• Published: 01 March 2022

Health supply chain system in Uganda: current issues, structure, performance, and implications for systems strengthening

• Eric Lugada 1 ,
• Henry Komakech   ORCID: orcid.org/0000-0001-7137-5940 1 ,
• Irene Ochola 1 ,
• Shiela Mwebaze 1 ,
• Martin Olowo Oteba 1 &
• Denis Okidi Ladwar 1  

Journal of Pharmaceutical Policy and Practice volume  15 , Article number:  14 ( 2022 ) Cite this article

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The health supply chain system is essential for the optimum performance of the healthcare system. Despite increased investments in the health supply chain system, access to quality Essential Medicines and Health Supplies remain a big challenge in Uganda. This article discusses the structure, performance, and challenges of the health supply chain system in Uganda. It provides reflections and implications for ongoing interventions for system strengthening.

Discussions

The findings highlight several issues and challenges affecting the health supply chain system from functioning optimally across all levels of the health system. The challenges identified include an ineffective structure to support planning, coordination and management, inadequate funding, shortage of skilled staff, weak regulatory and governance structures at national and sub-national levels, and slow adoption and use of Electronic Logistics Information Systems to support supply chain processes and functions. Overcoming these challenges will require greater investments to improve policy development and implementation, infrastructure, equipment and support systems, knowledge and skills of supply chain personnel, increased funding and improving governance and accountability.

Access to quality essential health services and safe, effective, quality and affordable essential medicines and vaccines for all is essential for promoting health and achieving the Sustainable Development Goals (SGDs) [ 54 ]. Availability and affordability of Essential Medicines and Health Supplies (EMHS) are essential for universal access to medicines [ 63 ]. Lack of access to EMHS can result in increased avoidable morbidity and mortality, economic losses and poverty [ 62 ]. The World Health Organization (WHO) estimates that about one-third of the world’s population lack access to quality essential medicines and diagnostics [ 61 ]. Inadequate access to quality medicines and diagnostics is a major concern in many low-and-middle income countries [ 16 ]. This undermines the effectiveness of healthcare and public confidence in the health system [ 64 ].

The structure of the health supply chain system plays an essential role in optimizing the various processes and functions across the different levels of the health system. The system comprises structures and processes that ensure sourcing of equipment, commodities and supplies, purchasing and procurement, transportation and distribution of products to the end user [ 22 ], [ 51 ]. The interactions between the structures and processes have several implications on the availability of medical products across all levels of care. The key aspects that enable access to essential medicines and commodities across the health system include (a) availability, (b) affordability, (c) accessibility (geographical), (d) acceptability (rational selection and use) and (e) quality [ 64 ]. Therefore, access to EMHS is contingent on a well-functioning supply chain system that moves medicines and supplies from the manufacturer to end user health facilities. However, efficiency and effectiveness of the supply chain system is affected by several challenges including limited resources, growing complexity, inadequate inventory data, ineffective and vertical structures including inappropriate distribution to the last mile, defective forecasting and ordering issues and inadequate innovations [ 2 ].

Over the last decades, several interventions have been made with substantial investments to improve the availability of essential medicines and health commodities in health facilities across all levels of care in Uganda. These interventions have focused on several health supply chain processes and functions including human resources, infrastructure, equipment (storage facilities, computers and vehicles), information systems, medicines management, policy development, review and implementation, improving efficiency, transparency, and fostering effective collaborations between stakeholders [ 28 ], [ 29 ], [ 48 ], [ 52 ]. Despite these efforts, health facilities across Uganda continue to face difficulties accessing EMHS. In 2018, more than 80% of Health Centers (HCs) and hospitals were stocked out of one or more tracer commodities GHSC-PSM [ 18 ], [ 19 ]. Stock-outs are a result of several supply chain bottlenecks including poor inventory management, ineffective supervision and oversight, expiries of commodities, poor storage and management of commodities, and inadequate skilled supply chain system staff.

While the government and development partners have made several interventions to ensure the supply chain system is responsive to the health system needs, few if any studies have been undertaken to examine the structure, capacity, and performance of the system in Uganda. An understanding of the structure, status, and performance of the health supply chain system is key to informing policy and practice and future interventions by government and partners. More specifically, such information is critical for understanding the factors that influence the performance of the health supply chain system.

This review examines the health supply chain system in Uganda. It identifies and discusses current issues, performance, and challenges of the supply chain system across all levels of care. An analysis of the above factors and the implications for an efficient and effective supply chain system is presented. While it does not provide a comprehensive examination of the national health supply chain system, it provides a situational analysis of how the health supply chain system is organized, its performance, and implications for improving and strengthening its functionality.

Methodology

This study is based on a narrative, exploratory literature review of the health supply chain system in Uganda. We reviewed published and unpublished literature. Published literature were retrieved from PubMed, Scopus, and Google Scholar. Other relevant literature was obtained by screening reference lists from supply chain related articles. Initially, we used “health supply chain”, “health supply chain in Uganda” as keywords to search the published papers. Following the initial search, other search terms were used including “pharmaceutical supply chain”, “medicines supply chain in Uganda”. The relevance of each paper was assessed and considered for inclusion. All relevant research articles were downloaded, read and analyzed.

An extensive review of grey literature was conducted based on initial sources retrieved from organization websites and online libraries. Several reports relating to the health supply chain system in Uganda published by the Ministry of Health (MoH), development partners, and Non-Governmental Organizations (NGOs) were obtained, reviewed, and synthesized. The main grey sources included the MoH and United States Agency for International Development (USAID) Global Health Supply Chain. Other websites searched include leading international organizations and relevant United Nations agencies (World Health Organization (WHO), the United Nations Children’s Fund (UNICEF [ 55 ], United Nations Population Fund (UNFPA).

We conducted thematic analysis and interpretation of evidence from the literature [ 11 ]. Documents were categorized in two phases. The first phase involved a description classification of research purpose, main findings, and the articles description of the health supply chain system. All documents were read and re-read, and initial themes identified and noted by two authors. Documents were categorized using open coding to generate initial themes and categories. The second step involved thematic analysis of all documents. Word frequencies were determined and used to identify potential themes. Next, emerging themes were synthesized prior to peer verification by the authors. We compared the themes with the articles purpose and overall methodology. The identified themes were compared with the coding and themes of other documents, content, and coding. Overall, the analysis process was iterative to validate the coding by returning to the documents and making comparisons with other articles. Following the thematic analysis, themes were identified and classified according to broader domains of the various processes and functional areas of the supply chain system. We categorized the findings into various supply chain subthemes including structure, regulatory frameworks and governance, personnel, logistics management information system, measure performance, data for planning and decision-making health financing, and the private sector supply chain system.

The structure of the health supply chain system in Uganda

The health supply chain system in Uganda is composed of both public and private stakeholders. The MoH, through the Department of Pharmaceuticals and Natural Medicines, is charged with providing oversight over policy development and implementation and coordination of the pharmaceutical sector. The National Medical Stores (NMS) and the Department of Pharmaceuticals and Natural Medicines conduct the quantification for pharmaceutical products at national level [ 46 ]. Furthermore, it directs and ensures harmonization of the supply chain system. It is actively involved in promoting the rational use of medicines and all related products in the whole country. The health supply chain system in Uganda is a four-tier system including the central level, tier II composed of sub-national level entities, tier III composed of government-managed health facilities and tier-IV composed of private health facilities (Fig.  1 ). The system is composed of a network of public, and private actors, development partners and Non-Governmental Organizations GHSC-PSM [ 18 ], [ 19 ].

Source: GHSC-PSM [19]. Uganda National Supply Chain Assessment Report: Capability and Performance)

Uganda’s Supply chain structure

The MoH manages the public sector health supply chain system through the Department of Pharmaceuticals and Natural Medicines. The NMS is responsible for the procurement of and distribution of pharmaceuticals and health products to all public health facilities in the country. At the district level, the District Health Office (DHO) manages the distribution of essential medicines and commodities to all facilities within its jurisdiction. The Joint Medical Stores (JMS), a Private-not-for-Profit (PNFP) institution, procures and distributes pharmaceuticals and health products to PNFP facilities in the country. Other procurement agencies include Medical Access Uganda Limited (MAUL) that is responsible for procurement, storage, and distribution of essential medicines and commodities to public, faith-based, and private health facilities. Several development partners support supply chain systems for various vertical disease programs including United Nations Children’s Fund ((UNICEF [ 55 ], Global Alliance for Vaccines and Immunization [ 2 ], Department for International Development (DFID), United Nations Population Fund (UNFPA), Danish Agency for International Development (DANIDA), The Global Fund, United States Agency for International Development (USAID) and Centre for Disease Control (CDC). Essential medicine and health commodities funded by these agencies are procured directly as an agent or on its behalf. A wide network of Private For-Profit (PFP) entities procure and distribute medical products to private health facilities and drug shops all over the country. These are composed of private distributors and wholesalers that supply medicine and health products to retail and hospital pharmacies.

Current Issues in the health supply chain system

The structure of the supply chain system

The health supply chain system in Uganda is based on a tiered system structured around the different levels of administration in the country. The structure is designed to fit within the different administrative levels of the health system and not the technical considerations of the elements that influence the capacity and performance of the supply chain system [ 65 ]. Ensuring that there are defined structures across all levels could provide opportunities to decentralize supply chain planning, decision making and functions. However, this is yet to be effectively implemented to ensure optimum performance of the system. Failure to structure and formalize the supply chain structures has several implications for accountability for decision making and performance across the different administrative levels in the country. Furthermore, it contributes to disruptions often witnessed across several supply chain functions including forecasting, inventory management, warehouse and stores management, stock management and fails to address the commodity needs of end users (health facilities). These structural inefficiencies aggravate other supply chain challenges including insufficient coordination, inadequate financing, lack of incentivization, schemes for supply chain personnel [ 31 ], [ 44 ], [ 53 ], [ 66 ].

Regulatory frameworks and governance

Governance is a critical component of a well-functioning health system [ 60 ]. Access to quality medicines depends on strong governance, transparency and accountability, political support, and adequate financing [ 10 ]. While effective governance depends on well-established policies and frameworks, implementation is affected by several factors with several implications for the performance of the supply chain system and overall health care system [ 49 ]. Several policies and guidelines have been developed to regulate and streamline the supply chain system. However, implementation remains weak at national and sub-national levels. The MoH has made efforts to disseminate different policies and guidelines to streamline the supply chain system. However, implementation at sub national level remains weak [ 35 ], [ 36 ] . This affects the availability of quality essential medicines and health commodities for many people across the country. A nationwide assessment showed that less than a third, 27% of Regional Referral Hospitals and 25% of all other facilities supervised by the DHO have supply chain guidelines GHSC-PSM [ 18 ], [ 19 ]. If the guidelines are available, there was no evidence to suggest staff refer to the policies to inform decision making. Overall, weaknesses in policy formulation, review, and implementation makes the supply chain system susceptible to inefficiencies and unethical practices.

Health supply chain personnel

Human resource is an essential component of a well-functioning supply chain system [ 59 ]. Adequate, competent, and skilled workforce enables optimum performance of all other supply chain processes and functions [ 17 ]. Within the supply chain system, availability of EMHS is preconditioned on several factors including the availability of knowledgeable, skilled staff and all related support structures and systems [ 7 ]. This is critical for ensuring user units have adequate medicines and supplies that meet the health needs of individuals and households. However, the supply chain system is fraught with several human resource challenges. There is a high turnover of supply chain staff, especially at lower-level facilities. Between 10 and 55% of supply chain positions remain vacant across various levels of care. Additionally, only 6% of health facilities have integrated supply chain functions into pharmacy and stores personnel’s responsibilities. Supply chain functions integrated into pharmacy and stores personnel responsibilities include routine ordering and reporting. About 33% of health facilities have a staff recruitment policy in place GHSC-PSM [ 18 ], [ 19 ]. Other issues include inadequate training, geographical and professional isolation in hard-to-reach areas, lack of supervision/contact with supervisors, insufficient job aids, and work overload, which affect supply chain staff motivation and satisfaction [ 21 ], [ 23 ], [ 58 ]. These and other general human resource challenges continue to affect the supply chain system at all levels of care.

Health supply chain financing

Funding for the health sector has remained chronically low for several years. The health sector accounted for 5.1% of the national budget FY 2020/2021, down from 7.9% in FY 2020/2021. This is already critically low if the country is to achieve the Universal Healthcare Coverage goals. External/Overseas Development Assistance finances forms a significant proportion of the health sector resources [ 34 ]. Data on pharmaceutical expenditures are often incomplete and inaccessible compared to the overall health sector budget. However, 26% of the program nominal allocation for the FY 2020/2021 was for pharmaceutical and medical supplies (specific funding for the NMS), while 1% was for pharmaceutical and other supplies [ 34 ]. Overall, Government of Uganda (GoU) funding for EMHS increased by a total of UGX 4 billion (19,4%) from UGX 236 billion in FY 2017/2018 to UGX 275.6 billion in the FY 2019/2019 [ 37 ]. In the FY 2019/2020, only, 2.6% of the health sector budget was allocated for pharmaceuticals and other supplies. Overall, GoU funding for EMHS remains low considering the health needs in the country. This challenge is even greater since funding for EMHS by development partners focuses on specific programs and commodities covering vertical disease programs (HIV/AIDS, Tuberculosis (TB), and immunization) [ 33 ]. Funding by development partners accounts for more than 70% of public spending on medicines targeting HIV/AIDS, malaria, and TB. This is more than half of government spending on EMHS [ 39 ].

Additionally, a large proportion of pharmaceutical expenditure is privately financed through household Out-Of-Pocket (OOP) payments. Pharmaceuticals consume a high share of total health expenditures by individuals and households. Insurance could play a significant role in supplementing the current shortfalls however, insurance and savings account for only 2.3% of all financing mechanisms in the country [ 40 ].

Logistic management information systems

Logistics Management Information Systems (LMIS) play a critical role in the performance of the different processes and functions of the supply chain system. The LMIS supports storage, transportation, waste management, forecasting, planning, and management of stock-outs. In its entirety, the LMIS ensures policymakers and service providers have access to the right data, in the right quantity and quality, at the right time, place and costs [ 56 ]. Despite the need for a well-functioning LMIS, current systems in place continue to face several challenges. The functionality of the LMIS system is affected by poor infrastructure, lack of equipment, limited internet connectivity, lack of skilled staff and/or insufficient resources for training staff across the MoH, central stores, and health facilities [ 25 ] 2014, GHSC-PSM [ 18 ], [ 19 ]. While there are several opportunities to strengthen the functionally of the supply chain system through various LMIS established by vertical programmes, collaboration remains weak between stakeholders. Most of the infrastructure, equipment and human resource capacity, have been developed for specific vertical disease projects [ 9 ].

Digitalization is essential in improving the operations, performance, and sustainability of the supply chain system. Digitalization offers an opportunity to integrate innovative technologies, focus on client care, reduce intra and inter organizational costs and create more value for the supply chain system. This can be achieved through the implementation of data capture technologies, strengthening data quality, and increasing data use [ 8 ]. Several digital supply chain platforms have been either adopted or developed and being used to support the supply chain system in Uganda. The District Management Information Software (DHIS-2), electronic Logistics Management Information System (eELMIS) are key platforms supporting supply chain functions of the health system [ 38 ]. Several Enterprise Resource Planning (ERP) applications currently support the health supply chain system including NMS SmartCare, NMS Distribution Monitoring Tool (DMT) [ 47 ]. While digitalization has been emphasized as a key factor for improving operations and performance of the health supply chain system, several challenges continue to affect its use. The current digital health supply chain eco-system is erratic, fragmentated and disconnected between different functionalities, and levels of operations in the country [ 41 ].

Health supply chain performance

The performance of the health supply chain system is an essential factor for ensuring efficiency and effectiveness of the health system. The supply and availability of EMHS is important for health facilities to enhance performance in terms of quality, costs, responsiveness, and patient satisfaction. The GoU, through the MoH and its partners have made several efforts to improve the performance of the supply chain system and ensure access to quality EMHS. However, the performance of the health supply chain system has been sub-optimal. A national survey found that regarding warehousing and storage, less than half, 47% of hospitals had enough buffer or security stock in inventory management system. Furthermore, only 25% of lower-level facilities and 23.5% of hospitals were stocked according to plan. Data performance based on the use of the electronic Logistic Management Information Systems accuracy remains low across all levels of care for most commodities. The ELMIS data accuracy is generally low at 33% for lower-level facilities and 20% of hospitals. On average, both lower-level facilities and hospitals are stocked out for 6 days GHSC-PSM [ 18 ], [ 19 ].

Data to support planning and decision making

Health systems depend on quality and timely data from the Health Information System [ 6 ] to support decision-making that is critical for overall system performance [ 1 ]. Quality and reliable data is essential to inform planning and management of the supply chain system to ensure that it is responsive to the needs of health facilities across all levels of care. Planners, and decision-makers need to know the rate at which commodities are being consumed, at each point of care to create a supply process that warrants quality services while minimizing stock-outs. However, there are several barriers to inform data-driven decision making and improvements in the health supply chain system. Several functions of the LMIS including data archiving, accurate and timely reporting and tracking of indicators, and the use of data remain a challenge. The ELMIS supports several supply chain functions. However, the system is not frequently updated as may be required (only after three years) or when there is need for adjustments to the system. A significant proportion of service delivery points in Uganda still rely on non-electronic data management systems leading to data loss, poor analysis, limiting data sharing for decision making GHSC-PSM [ 18 ], [ 19 ].

Performance of the supply chain system

Measuring the performance of the supply chain system is essential for ‘tracking and tracing” of efficiency and effectiveness that is key for informing decision making and policy formulation processes [ 3 ]. Performance measurement forms the basis for ensuring optimum performance of the health supply chain system. Despite several interventions there is inadequate information on the performance of the supply chain system.

The supply chain system in Uganda is complex with many actors GHSC-PSM [ 18 ], [ 19 ]. Many of these entities have predetermined goals and performance indicators and optimization criteria. Additionally, the existence of different sources procuring similar commodities using parallel supply chains complicates the harmonization of performance measurement. Such complexities do not contribute to the overall supply chain system as one entities performance improvement may have negligible effects. This challenge is further complicated by inadequate data to inform measuring the performance of the supply chain system [ 42 ]. While efforts have been made to harmonize performance indicators, lack of accuracy and consistency in measurement means there is inadequate information that can be used for benchmarking and informing decision making.

Private For-Profit sector supply chain system

The PFP sector plays a key role in the provision of medical products and services in Uganda. The private sector supply chain system comprises manufactures, importers, and distributors (wholesale and sub-wholesale) of a range of medical products and supplies [ 65 ]. There are an estimated 28 manufacturers, 70 importers and distributors, 597 wholesale pharmacies, 1179 retail pharmacies, 4742 authorized drug shops, and an unknown number of illegal providers [ 45 ]. The PFP sector is regulated and licensed by the NDA. Other private bodies and associations provide further guidance and regulation [ 20 ]. The PFP sector accounts for the largest proportion of medical products and supplies in the country [ 27 ]. These play essential supply chain roles between manufacturers (in-country and outside) and the end users, mostly pharmacies, drug shops, and health facilities. The PFP sector wholesalers’ distribution of medicines is based on orders and consumption by the user units (pharmacies and health facilities). Private pharmacies are predominantly located in urban areas supplying health facilities and smaller units (drug shops) with various commodities.

The availability of quality medicines is critical for promoting trust among users and improving health outcomes. A study by [ 30 ] showed that there are more 84.3% PFP provider drug outlets compared to 13.0% public providers. Many of these PFP facilities are unlicensed and unsupervised by the relevant authorities [ 12 ]. In addition, availability of EMHS is higher among PFP sector providers compared to the public facilities [ 4 ]. However, the quality of medicines procured and distributed by PFP retail outlets (pharmacies and drug shops) across the country has raised several questions. The NDA is mandated with regulation and enforcement of guidelines and standards [ 20 ]. However, weak supervision and oversight particularly at sub-national level (districts) means not all pharmacies and outlets are supplying quality medical products [ 5 ]. Retailers may not have the ability to assess the authenticity and quality of medical products they purchase and sell to end users.

Pharmacies and drug shops are required to recruit qualified pharmacists to manage the stores, wholesale, and retail outlets. However, many private pharmacies and drug shops across the country face an acute shortage of trained pharmacists. Many pharmacies employ unqualified personnel to manage the sales and distribution of medical products [ 24 ]. This could be due to several reasons including generally inadequate qualified pharmacists across the country and the preference of proprietors to employ other categories of staff (nurses and midwives) who may not cost as much in terms of payment. These challenges are greatest in peri-urban and rural areas where supervision and oversight by respective authorities in the districts may be weak [ 12 ].

Implications for strengthening supply chain systems

Despite the issues, and challenges discussed, several opportunities exist from completed or ongoing interventions by the government and partners that can be leveraged on to strengthen the supply chain system. Strengthening the supply chain system may offer opportunities for greater health systems performance [ 13 ]. In recent years, the evidence base demonstrating what works to strengthen health supply chain systems in developing countries has been increasing [ 14 ], [ 15 ], [ 29 ], [ 43 ], [ 50 ], [ 57 ]. These studies highlight several strategies and interventions that have been used to strengthen different supply chain processes and functions including procurement and financing, systems design, supervision, training and management, the structure of the system, mobile phone-based technology, and quality improvement measures. Furthermore, the supply chain system is dynamic and diverse. Therefore, given the contextual factors that influence the effectiveness and performance, these strategies, or a combination of could guide the strengthening of the supply chain system.

Strengthening governance, transparency, and accountability

Effective governance and absence of corruption are key for ensuring medicines and supplies are available in health facilities across all levels of care in Uganda. This ensures that individuals and households have access to safe, effective, quality medicines through strong management, transparency and accountability of the supply chain system [ 26 ]. To ensure robust governance, policies and regulatory bodies in Uganda, it is important for the Ministry of Health and related governments institutions at all levels to take up greater ownership of the health supply chain system. This should include strengthening political support, facilitating dialogue with all health supply chain stakeholders to ensure their participation [ 32 ]. It is important to strengthen accountability mechanisms throughout the health supply chain system to ensure that all stakeholders tasked with management and performance monitoring including policy makers, health service managers, service providers are responsive to the commodity needs across all levels of care. In addition, clients or health consumer groups need to be empowered to monitor the quality of services, demand for greater accountability and better services and performance of the supply chain system across all levels of care. Finally, it is important to guarantee public access to key information about the supply chain system to strengthen accountability.

Strengthening supply chain personnel

Availability of adequately skilled and effectively distributed health supply chain staff across the system is critical to ensuring equitable access to quality medicines across all levels of care. The GoU and MoH needs to prioritize and develop a strategy to recruit and retain adequately skilled supply chain staff to serve the central, sub-national stores and all levels of care including Health Centers HCs (II, III and IV) and all hospitals. This should be matched with strategies to ensure that the capacities of existing staff are strengthened through continuing education/on-job training on critical supply chain practices, leadership and management and development of feedback and supervision mechanisms across all levels of the supply chain system. This could be achieved through the development and offering adaptive learning strategies including e-learning and mentorship programs. Similarly, offering training opportunities for staff to continue to grow through collegiate programs, on-the-training scheme, and classroom instructions. It is important to develop strategies to ensure that renumeration and compensation of health workers is commensurate with qualification and experience and improved in both public and private health sector supply chain systems. Additionally, there is a need to develop long-term strategies for sustained incremental funding by the government to maintain appropriate levels of supply chain personnel. This should be strengthened by devising performance incentives and recognition schemes to attract skilled talent,increase and maintain motivation among supply chain personnel.

Establish and strengthen supply chain coordination frameworks

Coordination plays an essential role in ensuring effective supply chain management and performance among the various stakeholders, including government ministries, departments, donors and development partners, and health facilities. The need to streamline all supply chain coordination frameworks given the existence of multiple stakeholders with different and sometimes conflicting goals and mandates. Above all, a streamlined coordination framework is critical to ensuring efficient use of available resources and optimal performance of the health supply chain system. To strengthen supply chain management, the MoH should strengthen current coordination frameworks at all levels to facilitate decision-making that is critical for ensuring effective oversight and monitoring performance of the health supply chain system. This could be accomplished by mapping supply chain coordination structures at national and sub-national levels, defining coordination needs and processes, establishing functions of the coordination frameworks and developing means of monitoring performance and ensuring accountability. This is key to ensuring that there is a mechanism to support the supply chain process, functions, and relationships through all levels of the health system.

Streamline and strengthen Logistic Management Information System and information flow

Management of health supply chain data and its use to support decision making remains a challenge in Uganda. Currently, there are several LMIS sub-systems functioning with limited if any form of integration. The importance of an efficient and harmonized LMIS cannot be overlooked for the health system is to become effective and responsive. As such, the supply chain system requires real time data about stock status, consumption, and other important variables. It is critical to ensure the LMIS provides comprehensive, accurate, complete, and timely data to inform actions and interventions by supply chain stakeholders. Additionally, it is important to disseminate reports regularly to different health supply chain stakeholders and ensure the free flow of feedback on performance at the different levels. This goes along with strengthening the capacity of managers and health facility staff in data management and analysis, dissemination and use to support decision making across all levels of care. Overall, to achieve end-to end supply chain data visibility, it is essential to digitize the supply chain system, standardize data across all levels of care, strengthen data security and provide incentives to promote data use across all levels of care.

The electronic Logistic Management System (ELMIS) is an innovative, cost-effective system for health logistics data management. The ELMIS ensures availability of data hence greater commodity and better health outcomes. However, the Information, Communication and Technology (ICT), infrastructure, equipment support systems, and competence are still weak limiting the functionality of the ELMIS across the health supply chain system. It is important to develop a plan that will ensure the availability of infrastructure and equipment and internet coverage across all levels of the supply chain system. The MoH should develop a timeline and roadmap to transition to ELMIS to minimize the duplicative paper based LMIS processes and functions. This should be complemented with capacity building efforts with key notable activities including developing and implementing staff (re)training on ELMIS use.

Measurement of supply chain performance

Performance measurement is a pre-requisite for enhancing the supply chain system performance and accountability. Given the resource constraints, the supply chain system faces new pressures for greater accountability for impact notably, the availability of quality EMHS across all levels of the healthcare system. Performance measurement systems would assist the stakeholders in decision making to improve the effectiveness and efficiency of operations and demonstrate the capacity and performance of the supply chain system. It is important to establish harmonized performance goals within and between the various supply chain functional areas that will lead to the desired results that are balanced and without disputes. The performance goals should be embedded in the fabric of supply chain service delivery and management of the functions of the system. In this way, each level of accountability will be responsible for delivering its part of the supply chain performance goals. It is important to strengthen current national and sub-national performance assessment approaches to ensure the systems are systematic, transparent, and rigorous in capturing and reporting performance of the system. Additionally, the performance measurement strategy should be as comprehensive as possible to ensure, it assesses the entire health supply chain structure, process, and outcomes.

Strengthening private sector supply chain

The public sector is a prominent stakeholder in ensuring availability of EMHS across all levels of care in Uganda. However, it is important to acknowledge the role of the private for-profit providers in the health supply chain system. The private sector plays a significant role in supply chain-related markets including manufacturing, importation, retailing, and delivery of health commodities. While engagement between the public and private health supply chain stakeholders remains low, the latter plays a significant role across the various functional and technical areas. These roles have often been accomplished with high levels of efficiency and effectiveness by the private for-profit providers. However, there are no frameworks to guide public–private engagements within the health supply chain system. A comprehensive public private for-profit engagement framework will provide a clear understanding of needs, opportunities, and strengths of both sectors to ensure each meets the broader supply chain goals. It is essential to engage the private for-profit providers when developing, reviewing and implementing policies to support the design of flexible mechanisms and regulations that address and streamline their roles in a rather complex supply chain environment. Further, it is important to support and strengthen private for-profit supply chain associations and groups such as importers, wholesalers, retailers, and health facilities to strengthen regulation, monitoring, enforcing quality and performance of its members.

Several limitations must be kept in mind when considering the findings and conclusions of this paper. First, the quality of the documents reviewed was not assessed as in several cases not all necessary information was provided. Secondly, while we felt that the sample of the documents reviewed is representative of the literature on the health supply chain system, there may have been some bias associated with the narrow focus of the reviews. As indicated, the review included only literature in the areas of the health supply chain system. We did not consider and excluded documents from other disciplines. Finally, since only a few peer-reviewed articles could be included after a reference check, we do not rule out the fact that all relevant studies were included.

The article examined the status, performance of the supply chain system in Uganda. Like other supply chain systems, the health supply chain system plays a critical role in achieving national development and international goals. Uganda's supply chain system is complex, consisting of numerous stakeholders, and is characterized by several interactions from all sizes of entities. Health supply chain management, like in all other sectors, is applicable to the health system and offers guidelines that can be used to analyse, coordinate, and constantly improve the whole system, thereby ensuring access to EMHS across all health system levels. Through structured review and synthesis of the available evidence, several themes, namely structure of the supply chain system, supply chain performance, logistics information systems, health supply chain personnel, sustainable financing, and governance and leadership. These factors and how they affect the availability of EMHS and implications for supply chain systems strengthening.

The findings show that the capacity and performance of the supply chain system continue to improve in several technical and functional areas, evidenced by the increased availability of EMHS across all levels of care. However, the synthesis highlighted several challenges affecting the health supply chain system that needs to be addressed. Findings from the synthesis show that while gaps in the technical areas identified are being addressed, several remain pertinent. Overall, these point to the need for further investments, improvements, and interventions in the identified technical and functional areas and to strengthen the capacity and performance of the supply chain system.

Availability of data and materials

Not applicable.

Abbreviations

Centre for Disease Control

Department for International Development,

District Health Officer

Electronic Logistics Management Information System

Essential Medicines and Health Supplies

Health Centers

Medical Access Uganda Limited

Ministry of Health

Non-Governmental Organizations

National Medical Stores

Private-not-for-Profit SGDs: Sustainable Development Goals

United Nations Population Fund

Joint Medical Stores

United States Agency for International Development

United Nations High Commission for Refugees

United Nations Children Emergency Fund

World Food Programme

World Health Organization

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Lugada, E., Komakech, H., Ochola, I. et al. Health supply chain system in Uganda: current issues, structure, performance, and implications for systems strengthening. J of Pharm Policy and Pract 15 , 14 (2022). https://doi.org/10.1186/s40545-022-00412-4

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Retail Pharmacy Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business ideas » Healthcare and Medical » Pharmacy

Are you about starting a pharmacy (chemist shop)? If YES, here’s a complete sample wholesale / retail pharmacy business plan template & feasibility report you can use for FREE.

Okay, so we have considered all the requirements for starting a retail pharmacy . We also took it further by analyzing and drafting a sample retail pharmacy marketing plan template backed up by actionable guerrilla marketing ideas for pharmacies. So let’s proceed to the business planning section.

Being in the pharmacy trade is a very good thing. This is because of the great returns on investment that is being guaranteed.

Starting a retail business is a very right step to take if you are looking to delve into the retail pharmacy business. It is important that you are a pharmacist ; this is so that you can get a proper hang of the business, as well as bring in your hands-on prowess into the venture.

A Sample Retail Pharmacy Business Plan Template

1. industry overview.

What really is the pharmaceutical business all about? The pharmaceutical industry is known for developing, producing, and marketing medicine (drugs). Retail pharmacy business is known to be involved in the sale (retailing) of generic or brand medications; some big pharmaceutical stores even engage in the sale of medical devices.

All over the world, the pharmaceutical industry is highly regulated. This is so because of the devastating effect of fake drugs and drug abuse which can’t be quantified. As a matter of fact, there are several universal laws and regulations that govern the patenting, testing, safety, efficacy and marketing of drugs.

For example; in the united states, new pharmaceutical products must be approved by the Food and Drug Administration (FDA) as being both safe and effective before they can be allowed to go into the market. Any entrepreneur (investor) who has a plan of starting his or her own retail pharmacy business must comply with the Regulation of Retail Pharmacy Businesses that was passed into law in 2008.

Anyone who wants to establish a retail pharmacy business must follow the regulations that guides the sourcing, storage, sale, supply and keeping of records, in respect of medicinal products. Other requirements that they are expected to comply with are; requirements that relates to staff, premises, equipment and procedures are also stipulated.

No doubt retail pharmacy business is indeed a profitable industry; at the end of 2011, there were just over 23,100 independent retail pharmacies operating domestically.

For instance; in 2012 about 62,000 retail, mail and specialty pharmacies operating in America filled more than 4 billion prescriptions. As a matter of fact, in 2012 alone, statistics indicated that the total industry revenues was between $275 billion and $290 billion.

Statistics has it that global spending on prescription drugs grew to a whopping sum of $954 billion in 2011 and The United States accounts for more than a third of the global pharmaceutical market, with an estimate of $340 billion in annual sales.

It is on record that the retail pharmacy industry is growing at an annual rate of 1.6 percent. Retail pharmaceutical stores are amongst the top beneficiaries; they have experienced high sales growth in the first aid, eye care, sun care, smoking deterrent, foot care and home healthcare categories.

Over and above, the retail pharmacy industry is indeed a growing and a profitable industry and it is open to any aspiring investor (entrepreneur) to come in and establish his or her retail pharmacy outlet.

2. Executive Summary

Kingsley Greeno Retail Pharmacy Store will be located in one of the busiest streets in Baltimore, Maryland, U.S. We have been able to lease a facility for 5 years with the option of acquiring the property once the property is put up for sale.

The facility is well positioned and it matches the ideal picture of a community retail pharmacy store. We are not going to spend much to revamp the facility because before taking over the facility, it was used as a retail shop. Although the business is launching out with just one outlet, but we have plans to open other outlets in key locations around Baltimore, MD.

Kingsley Greeno retail pharmacy store will be involved in the retailing of prescription drugs and over-the-counter drugs. We will also be involved in the sale of beauty products, cosmetic, postcards (greeting cards), convenience foods and other related products.

We are in retail pharmacy business to retail a wide range of pharmaceuticals for our customers, at the lowest prices they can get anywhere in Baltimore, MD. Our employees are well trained and qualified to handle the wide range of customers that we are positioned to serve. We will engage in the sale of prescriptions at reduced prices both at the counter and online order.

Kingsley Greeno Retail Pharmacy will operate a 24 hours, 7 days a week pharmaceutical store. We shall also have customers like; walk – in customers and mail order customers. Our work force is going to be well trained to operate within the framework of our company’s corporate culture and also to meet the needs of all our customers.

Kingsley Greeno Retail Pharmacy Store will ensure that all our customers are given first class treatment whenever they visit our shop.

We have a CRM software that will enable us manage a one on one relationship with our customers no matter how large the numbers of our customers’ base grows. We will ensure that we get our customers involved in the selection of brands that will be on our racks and also when make some business decisions.

Kingsley Greeno Retail Pharmacy Store is a family business that is owned and managed by Kinsley Greeno and Family. Mr. Kingsley Greeno is going to be the Chief Executive Officer of the business; he has a first Degree in Pharmacy and an MBA from Harvard University.

He has well over 10 years of experience working as a pharmacist with the United States’ government. His son who is an undergraduate is currently studying pharmacy, with the hope of taking over the family business when he (Mr. Greeno) retires.

3. Our Products and Services

Kingsley Greeno Retail Pharmacy Store will retail a wide range of prescription drugs from different manufacturing brands to customers who are based in Baltimore, MD. We also engage in the sale of beauty products, cosmetic, postcards (greeting cards), baby products, convenience foods and other related products (small scale medical equipment / instruments et al).

4. Our Mission and Vision Statement

• Our vision is to become the largest retail pharmacy store in the whole of Maryland, U.S.
• Our mission is to establish a first class retail pharmacy store that will make available a wide range of generic and branded prescription drugs from top pharmaceutical manufacturing brands at affordable prices to the residence of Baltimore, MD.

Our Business Structure

Kinsley Greeno Retail Pharmacy Store is a business that will be built on a solid foundation. From the outset, we have decided to recruit only qualified people to man various job positions in our organization. We are quite aware of the rules and regulations governing the pharmaceutical industry which is why we decided to recruit experienced and qualify employees as foundational staff of the organization.

We hope to leverage on their expertise to build our business. When hiring, we will look out for applicants that are not just qualified and experienced, but honest, customer centric and are ready to work to help us build a prosperous business that will benefit all the stakeholders (the owners, workforce, and customers).

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more. This are the positions that will be available at Kingsley Greeno Retail Pharmacy Store;

• CEO (pharmacy owner, superintendent pharmacist and supervising pharmacist)
• Pharmacist (Manager)

Merchandize Manager

• Pharmacist technician (3)
• Information Technologist (Contract)
• Sales agents (3)
• Cashier (Counter Agent).

5. Job Roles and Responsibilities

Chief Executive Officer – CEO:

• Responsible for providing direction for the business
• Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Responsible for fixing prices and signing business deals
• Responsible for recruitment
• Responsible for payment of salaries
• Responsible for signing checks and documents on behalf of the company
• Evaluates the success of the organization

  Pharmacist (Manager):

• Responsible for managing the daily activities in the restaurant
• provides advice about health issues, symptoms and medications in response to customer enquiries
• recruits, trains and manages staff
• processes prescriptions and dispensing medication
• orders, sells and controls medicines and other stock
• meets medical representatives
• manages budgets
• keeps statistical and financial records
• prepares publicity materials and displays
• markets services
• Interfaces with third – party providers (vendors)
• Controls the sales floor inventory
• Supervises the entire sales staff and workforce
• Any other duty as assigned by the CEO
• Manages vendor relations, market visits, and the ongoing education and development of the organizations’ buying teams
• Helps to ensure consistent quality of drugs and products on our rack
• Responsible for the purchase of goods and products for the organizations
• Responsible for planning sales, monitoring inventory, selecting the merchandise, and writing and pricing orders to vendors
• Ensures that the organization operates within stipulated budget.

Pharmacy Technician

• Ensures that the store facility is in tip top shape and conducive enough to welcome customers (This includes turning on equipment such as computers, scales, printers and fax machines)
• Ensures that goods and products are properly arranged
• Responsible for processing prescriptions
• Responsible for sterilizing the counter tops, scales, pill counting trays, and other medication measuring devices.
• Handles administrative and bookkeeping tasks, inventory control, stocking shelves, and data entry
• Performs monthly inventory counts, file paperwork, and stock inventory
• Handles any other duty as assigned by the floor manager (Pharmacist)

Sales Agents

• Manages external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
• Models demographic information and analyze the volumes of transactional data generated by customer purchases
• Sources for clients for the company
• Responsible for promoting the company’s image
• Responsible for creating marketing and sales strategies, etc.
• Represents the organization in some strategic business meetings

Information Technologist

• Manages the organization website
• Handles ecommerce aspect of the business
• Responsible for installing and maintenance of computer software and hardware for the organization
• Manage logistics and supply chain software, Web servers, e-commerce software and POS (point of sale) systems
• Manage the organization’s CCTV
• Handles any other technological and IT related duties.

Cashier (Counter Agent):

• Receives payments on behalf of the organization
• Issues receipt to customers
• Prepare financial report at the end of every working week
• Handles financial transaction on behalf of the company
• Interfaces with our bankers
• Responsible for payment of tax, levies and utility bills
• Responsible for cleaning the pharmacy facility at all times
• Ensures that toiletries and supplies don’t run out of stock
• Cleans both the interior and exterior of the pharmacy facility
• Handle any other duty as assigned by the floor manager (Pharmacist)

6. SWOT Analysis

Kingsley Greeno Retail Pharmacy Store is not looking forward to operate a regular retail pharmacy store, because we want to become the biggest retail community pharmacy in Baltimore. We want our pharmacy to be the number one choice of all residence of Baltimore.

We know that if we are going to achieve the goals that we have set for our business, then we must ensure that we build our business on a solid foundation. We must ensure that we follow due process in setting up our retail pharmacy store.

Despite the fact that our CEO (owner) has a robust experience in retail pharmacy business, we still went ahead to hire the services of business consultants that are specialized in setting up new businesses to help our organization conduct detailed SWOT analysis and to also provide professional support in helping us structure our business. This is the summary of the SWOT analysis that was conducted for Kingsley Greeno Retail Pharmacy Store;

Our location is one of our strength. The Business model we will be operating on (physical store and online store) will be opened for 24 hours daily and 7 days in a week. There would be multiple payment options; wide range of prescription drugs, home delivery services and our excellent customer service culture will definitely count as a strong strength for us.

Our perceived weakness is the fact that we are just starting out and we may not have the required finance to sustain the kind of publicity that we intend giving the business.

• Opportunities:

The opportunities that are available to retail pharmacy business is unlimited and we are going to position our business to make the best out of the opportunities that will be available to us in Baltimore, MD.

Just like any other retail business, one of the major threats that we are likely going to face is economic downturn and unfavorable government policies (healthcare reform). It is a fact that economic downturn affects purchasing power. Another threat that may likely confront us is the arrival of a new retail pharmacy outlet in same location where ours is located (Baltimore, MD.).

7. MARKET ANALYSIS

• Market Trends

The market trend in retail pharmacy industry is directly influenced by a country’s healthcare reform policies. The fact that the pharmaceutical industry is highly regulated means that any entrepreneur who wants to run a retail pharmacy store must be ready to play by the book.

Loads of other factors influences the market trend in the industry and it is normal to see bigger retail pharmacy stores (especially those with chains of outlets) weathering the storm whenever there are major shaking in the industry. In essence, the easiest way to build a solid and highly profitable retail pharmacy business is to engage in opening various outlets in key cities around the U.S. and the

No doubt the industry will continue to grow and become more profitable because the aging baby-boomer generation in United States are expected to drive increasing demand for prescription drugs.

Retail Pharmacies are now making use of technology to effectively manage their business by plugging financial leakages which happens to be one of the biggest challenges that retail businesses faces. The use of technology, i.e. CRM software et al are very effective in helping retail businesses manage their clientele base.

8. Our Target Market

Kingsley Greeno Retail Pharmacy Store is in business to service a wide range of customers in Baltimore, Maryland. We will ensure that we target self – pay customers (who do not have drug plans), mail order customers, and walk in customers et al.

The fact that we are going to open our doors to a wide range of customers does not in any way stop us from demanding and screening prescriptions as required by the law. Our staff are trained to effectively service our customers and still play by the rules governing the industry. Our customers can be categorized into the following;

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

Our Competitive Advantage

The retail pharmacy industry is known to be highly competitive in the U.S and in most parts of the world. The industry is growing and there are alternative ways through which clients / patients can get their medications / prescriptions / drugs.

There are alternative provides like mail-order firms, grocery chains, mass merchants and dollar stores; these are the real competitors in the industry. These competitors ensures that they do all that lies within their powers to gain favorable market share of the available market in any given region.

It is a fact that small retail pharmacy stores will always struggle with larger pharmacy chains when it comes to pricing power and brand recognition, which is why smaller retail pharmacy store always go out of their ways to deliver excellent customer service. It is through top notch customer service that they can secure a fair share of the available market.

Smaller retail pharmacies ensures that each order carries a printout. The printout accompany the medications providing directions on how patient are expected to take the medications, other drugs that should be avoided concurrently, and other useful information.

Kingsley Greeno Retail Pharmacy Store is coming into the market well prepared to favorably compete in the industry. Our pharmacy is well positioned and visible, we have enough parking space with good security. Our management staff are well groomed in retail pharmacy and all our employees are trained to provide customized customer service to all our clients.

We are going to be one of the few retail pharmacies in Baltimore that will be opened 24 hours a week and 7 days a week. We have enough staff that are ready to run a shift system. Kingsley Greeno Retail Pharmacy we will ensure that we have a wide range of products (prescription drugs and over-the-counter drugs.

We will also be involved in the sale of beauty products, cosmetic, postcards (greeting cards), convenience foods and other related products) available in our store at all times. It will be difficult for customers to visit our store and not see the product that they are looking for. One of our business goals is to make our pharmacy a one stop pharmacy shop.

9. SALES AND MARKETING STRATEGY

• Sources of Income

Our source of income will be majorly in the retailing of prescription drugs and over-the-counter drugs. Kingsley Greeno Retail Pharmacy will also generate income from the sale of beauty products, cosmetic, postcards (greeting cards), convenience foods and other related products.

10. Sales Forecast

It is important to state that our sales forecast is based on the data gathered during our feasibility studies, market survey and also some of the assumptions readily available on the field.. Below are the sales projections that we were able to come up with for the first three years of operations;

• First Year-: $200,000 (From Walk – in customers) + $250,000 (From Mail Order customers)
• Second Year-: $450,000 (From Walk – in customers) + $470,000 (From Mail Order customers)
• Third Year-: $700,000 (From Walk – in customers) + $800,000 (From Mail Order customers)

N.B : This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and natural disasters within the period stated above. Please note that the above projection might be lower and at the same time it might be higher.

• Marketing Strategy and Sales Strategy

The marketing and sales strategy of Kingsley Greeno Retail Pharmacy Store will be based on generating long-term personalized relationships with customers.

In order to achieve that, we will ensure that we offer medications at lower prices, compared to what is obtainable in Baltimore. We will also ensure that we have a wide range of drug supplies in stock for both quick shipment and storefront pick up.

All our employees will be well trained and equipped to provide excellent and knowledgeable customer service. We know that if we are consistent with offering high quality drugs and excellent customer service we will increase the number of our customers by more than 25% for the first year and then more than 30 percent subsequently.

Before choosing a location for our pharmacy store, we conducted a thorough market survey and feasibility studies in order for us to be able to be able to penetrate the available market and become the preferred choice for residence of Baltimore, MD.

We have detailed information and data that we were able to utilize to structure our business to attract the numbers of customers we want to attract per time.

We hired experts who have good understanding of the retail industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in Baltimore, Maryland. In summary, Kingsley Greeno Retail Pharmacy Store will adopt the following sales and marketing approach to win customers over;

• Introduce our business by sending introductory letters to residence, business owners and organizations
• Advertise our business in community based newspapers, local TV and radio stations
• List our business on yellow pages ads
• Leverage on the internet to promote our business
• Direct marketing
• Word of mouth marketing (referrals)
• Enter into business partnership with hospitals, healthcare provider and health insurance companies.
• Attend pharmaceutical related exhibitions / expos.

11. Publicity and Advertising Strategy

Regardless of the fact that our retail pharmacy store is well located in Baltimore, MD., we will still go ahead to intensify publicity for the business. We are going to explore all available conventional and non – conventional means to promote our retail business.

Kingsley Greeno Retail Pharmacy Store has a long term plan of opening outlets in various locations all around Maryland which is why we will deliberately build our brand to be well accepted in Baltimore before venturing out.

As a matter of fact, our publicity and advertising strategy is not solely for winning customers over but to effectively communicate our brand to the general public. Here are the platforms we intend leveraging on to promote and advertise Kinsley Greeno Retail Pharmacy Store;

• Place adverts on both print (community based newspapers and magazines) and electronic media platforms
• Sponsor relevant community programs
• Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, et al to promote our brand
• Install our BillBoards on strategic locations all around Baltimore, MD.
• Engage in road show from time to time
• Distribute our fliers and handbills in target areas
• Position our Flexi Banners at strategic positions in the location where our retail store is located.

12. Our Pricing Strategy

Kingsley Greeno Retail Pharmacy Store will work towards ensuring that all our products (prescription drugs and over-the-counter drugs and beauty products, cosmetic, postcards (greeting cards), convenience foods and other related products) are offered at highly competitive prices compare to what is obtainable in Baltimore.

The fact that we are going to be offering our products at cheaper prices does not in any way means that we will sell sub – standard goods. Selling our products at a lower price than what is obtainable in our competitors store means that we will only reduce our profit margin.

• Payment Options

At Kingsley Greeno Retail Pharmacy Store, our payment policy is all inclusive because we are quite aware that different people prefer different payment options as it suits them. Here are the payment options that will be available in every of our outlets;

• Payment by cash
• Payment via Point of Sale (POS) Machine
• Payment via online bank transfer (online payment portal)
• Payment via Mobile money
• Check (only from loyal customers)

In view of the above, we have chosen banking platforms that will help us achieve our payment plans without any itches.

13. Startup Expenditure (Budget)

This is the key areas where we will spend our start – up capital on;

• The Total Fee for Registering the Business in Maryland – $750.
• Legal expenses for obtaining licenses and permits- $1,500.
• Marketing promotion expenses for the grand opening of People’s Choice Retail Store in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
• Cost for hiring Consultant – $2,500.
• Cost for Computer Software (Accounting Software, Payroll Software, CRM Software, Microsoft Office, QuickBooks Pro, drug interaction software, Physician Desk Reference software) – $7,000
• Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $3,400.
• Cost for payment of rent for 12 month at $1.76 per square feet in the total amount of $105,600.
• Cost for Shop remodeling (construction of racks and shelves) – $20,000.
• Other start-up expenses including stationery ($500) and phone and utility deposits ($2,500).
• Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $100,000
• The cost for Start-up inventory (stocking with a wide range of products) – $150,000
• Storage hardware (bins, rack, shelves,) – $3,720
• The cost for counter area equipment (counter top, sink, ice machine, etc.) – $9,500
• Cost for Supplies (Assorted bottles, boxes, envelopes, etc. for dispensing and shipment)- $3,000
• Cost for store equipment (cash register, security, ventilation, signage) – $13,750
• Cost of purchase and installation of CCTVs: $7,000
• The cost for the purchase of furniture and gadgets (Computers, Printers, Telephone, TVs, tables and chairs et al): $4,000.
• The cost of Launching a Website: $700
• The cost for our opening party: $7,000
• Miscellaneous: $10,000

We would need an estimate of $500,000 to successfully set up our retail pharmacy store in Baltimore, MD. Please note that this amount includes the salaries of all the staff for the first month of operation.

Generating Funding / Startup Capital

Kingsley Greeno Retail Pharmacy Store is a private business that is solely owned and financed by Kingsley Greeno and family.

They do not intend to welcome any external business partners which is why he has decided to restrict the sourcing of the start – up capital to 3 major sources. These are the areas Kingsley Greeno Retail Pharmacy Store intends to generate our start – up capital;

• Generate part of the start – up capital from personal savings
• Source for soft loans from family members and friends
• Apply for loan from my Bank

N.B: We have been able to generate about $200,000 (Personal savings $150,000 and soft loan from family members $50,000) and we are at the final stages of obtaining a loan facility of $300,000 from our bank. All the papers and document have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.

14. Sustainability and Expansion Strategy

The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it may not be too long before the business closes shop.

One of our major goals of starting Kingsley Greeno Retail Pharmacy Store is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running. We know that one of the ways of gaining approval and winning customers over is to sell our product a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin.

Kingsley Greeno Retail Pharmacy Store will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List / Milestone

• Business Name Availability Check:>Completed
• Business Registration: Completed
• Opening of Corporate Bank Accounts: Completed
• Securing Point of Sales (POS) Machines: Completed
• Opening Mobile Money Accounts: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Application for business license and permit: Completed
• Purchase of Insurance for the Business: Completed
• Leasing of facility and remodeling the shop: In Progress
• Conducting Feasibility Studies: Completed
• Generating capital from family members: Completed
• Applications for Loan from the bank: In Progress
• writing of business plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents and other relevant Legal Documents: In Progress
• Design of The Company’s Logo: Completed
• Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
• Recruitment of employees: In Progress
• Purchase of the Needed furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress
• Creating Official Website for the Company: In Progress
• Creating Awareness for the business both online and around the community: In Progress
• Health and Safety and Fire Safety Arrangement (License): Secured
• Opening party / launching party planning: In Progress
• Compilation of our list of products that will be available in our pharmacy store: Completed
• Establishing business relationship with vendors (wholesale pharmaceutical companies): In Progress

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Pharmacy Business Plan Template

Written by Dave Lavinsky

Pharmacy Business Plan

You’ve come to the right place to create your pharmacy business plan.

We have helped over 10,000 entrepreneurs and business owners create business plans and many have used them to start or grow their pharmacies.

Pharmacy Business Plan Example

Below is a sample pharmacy business plan and template to help you create each section of your pharmacy business plan.

Executive Summary

Business overview.

Healthy1 Pharmacy is a new independent retail pharmacy located in Charleston, South Carolina. The company is founded by Stephen Harris, a licensed pharmacist who has spent more than fifteen years working in the pharmacy industry. Stephen is confident that his strong communication skills combined with his keen attention to detail when preparing prescriptions will help him quickly grow a loyal customer base for his new pharmacy. Stephen has recruited a team of highly qualified professionals to help manage the day-to-day complexities of running a retail pharmacy including marketing, sales, customer service, financial reporting, and operations management.

Healthy1 Pharmacy will provide all of the products and services that are available at large retail chains, only with a better price and a small-town atmosphere. At Healthy1, sales associates and pharmacy technicians will get to know each customer by name and be able to offer a more personalized service not typically offered at larger pharmacies. Healthy1 Pharmacy will be a one-stop shop for any customer in need of a prescription, flu shot, OTC medication, and more.

Product Offering

The following are the services that Healthy1 Pharmacy will provide:

• Over-the-counter (OTC) medications
• Prescription medications
• Immunizations
• Travel medications
• Point-of-Care (POC) Tests
• Compounding

Customer Focus

Healthy1 Pharmacy will target all individuals in Charleston. The pharmacy will target multiple age groups from pediatric to geriatric. Healthy1 will also target patients needing prescriptions filled on a regular basis. No matter the customer, Healthy1 Pharmacy will deliver the best communication, service, and prices.

Management Team

Healthy1 Pharmacy will be owned and operated by Stephen Harris. He has recruited Emily Jackson, an experienced retail pharmacy manager to be his Store Manager and help to supervise the staff and run the day-to-day retail operations.

Stephen Harris is a licensed pharmacist with a Doctor of Pharmacy (PharmD) degree and more than fifteen years of experience working in the pharmacy industry. Stephen has been recognized by his former employer as a top performing pharmacist for five years in a row.

Emily Jackson has been a store manager at a local retail pharmacy for over a decade and has garnered a positive reputation for her exceptional organizational skills and leadership. Emily has worked in the pharmacy industry for so long, she understands all aspects required in running a successful retail pharmacy.

Success Factors

Healthy1 Pharmacy will be able to achieve success by offering the following competitive advantages:

• Friendly, knowledgeable, and highly qualified team of sales associates and pharmacy technicians who will assist customers, answer questions, and provide a personalized approach not found in larger pharmacies.
• Comprehensive array of products and services that includes everything you would expect from a large pharmacy, only with attentive customer service and lower prices.
• Healthy1 Pharmacy offers the best pricing in Charleston. The pharmacy’s pricing structure is the most cost effective compared to the competition.

Financial Highlights

Healthy1 Pharmacy is seeking $400,000 in debt financing to launch its new pharmacy. The funding will be dedicated towards securing the retail space and purchasing equipment, inventory, and supplies. Funding will also be dedicated towards three months of overhead costs to include payroll of the staff, rent, and marketing costs. The breakout of the funding is below:

• Pharmacy and retail space build-out: $100,000
• Equipment, supplies, inventory, and materials: $100,000
• Three months of overhead expenses (payroll, rent, utilities): $160,000
• Marketing costs: $25,000
• Working capital: $15,000

The following graph below outlines the pro forma financial projections for Healthy1 Pharmacy.

Company Overview

Who is healthy1 pharmacy.

Healthy1 Pharmacy is a newly established independent retail pharmacy located in Charleston, South Carolina. Healthy1 Pharmacy will provide all of the products and services that are available at large retail chains, only with lower prices and a small-town atmosphere. At Healthy1, sales associates and pharmacy technicians will get to know each customer by name and be able to offer a more personalized service not typically offered at larger pharmacies. Healthy1 Pharmacy will be a one-stop shop for any customer in need of a prescription, flu shot, OTC medication, and more. Healthy1 Pharmacy will be able to provide Charleson customers with the experience of a friendly, neighborhood drugstore while ensuring each prescription is handled with the highest standards of quality and care. The team of pharmacy technicians and sales associates will be highly qualified and experienced in helping customers find the right over-the-counter solutions for their individual needs as well as ensuring each prescription is filled accurately and efficiently.

Healthy1 Pharmacy History

Healthy1 is owned and operated by Stephen Harris, a licensed pharmacist with over fifteen years of experience working in the pharmacy industry. Stephen has worked for a large pharmacy chain and managed a team of pharmacy technicians for several years. Stephen’s tenure with the pharmacy chain combined with his pharmaceutical education has given him the skills and knowledge required to start his own pharmacy.

Since incorporation, Healthy1 Pharmacy has achieved the following milestones:

• Registered Healthy1 Pharmacy, LLC to transact business in the state of South Carolina.
• Has a contract in place to lease the retail storefront he will use for his pharmacy.
• Reached out to numerous contacts to include experienced pharmacy technicians and sales associates to advise them of the upcoming opportunities at his new pharmacy.
• Began recruiting the management team members including a store manager, an accountant/bookkeeper, and a marketing director.

Healthy1 Pharmacy Services

The following are the pharmacy products and services that Healthy1 Pharmacy will provide:

Industry Analysis

The pharmacy industry in the United States is valued at $534.2B and is projected to grow to $862B by 2028. Major market drivers include a growing number of types of diseases, an increasing percentage of people with chronic illnesses, an aging population, and higher healthcare costs.

There are more prescription medications being developed, and the demand for more prescriptions is growing faster than ever before. In 2020, there were an estimated 860M medications prescribed by physicians and 336M prescribed by hospitals. This prescription demand is resulting in more pharmacies opening across the U.S. The National Council for Prescription Drug Programs (NCPDP) reports an estimated 20,400 independent pharmacies in 2010. This number has grown to over 23,000 by 2019, a 12.9% increase in the number of independent pharmacies for that time period.

Industry operators in the pharmaceutical market can benefit from providing above average customer service, lower prices than competitors, and products or services that aren’t being offered elsewhere.

Customer Analysis

Demographic profile of target market.

Healthy1 Pharmacy will target all individuals in Charleston, South Carolina. The pharmacy will target multiple age groups from pediatric to geriatric. Healthy1 will also target patients needing prescriptions filled on a regular basis.

The precise demographics for Charleston, South Carolina are:

Customer Segmentation

Healthy1 will primarily target the following customer profiles:

• Parents of pediatric patients
• Geriatric patients
• People taking medications on a regular basis
• People needing compounding services
• People looking for vaccines or immunizations
• People who need lab tests

Competitive Analysis

Direct and indirect competitors.

Healthy1 Pharmacy will face competition from other companies with similar business profiles. A description of each competitor company is below.

Charleston Care Pharmacy

Charleston Care Pharmacy provides a wide variety of pharmacy products and services including OTC medications, lab testing, and compounding. Located in a senior neighborhood, Charleston Care Pharmacy specializes in serving the geriatric population, but welcomes customers of all ages. Charleston Care Pharmacy’s promise is to deliver effective communication, honesty, and integrity in every transaction. Charleston Care Pharmacy’s team of experienced pharmacy technicians assures customers are well taken care of and prescriptions are filled quickly and correctly.

FeelBetterNow Pharmacy

FeelBetterNowPharmacy is a Charleston-based neighborhood pharmacy that provides a full suite of services including compounding, vaccines, lab testing, local delivery, and more. The owners of FeelBetterNowPharmacy are licensed pharmacists who have extensive experience working for independent retail pharmacies so they understand what customers are looking for in a neighborhood pharmacy. Customers who choose FeelBetterNowPharmacy can rest assured they are getting the best quality products at reasonable prices.

Care Better Pharmacy

Care Better Pharmacy is a trusted Charleston pharmacy that is known for providing superior customer service. They are able to provide a one-stop shop for customers looking for convenient OTC and prescription medications, durable medical equipment, vaccines, and immunizations. Care Better Pharmacy is also able to serve customers in need of compounding, recurring prescriptions, and lab testing. They have expert pharmacy technicians to provide information about each medication and answer all of their customers’ questions.

Competitive Advantage

Healthy1 Pharmacy will be able to offer the following advantages over their competition:

• Healthy1 Pharmacy offers the best pricing in Charleston. The pharmacy offers its customers low prices on all of its products and services compared to the competition.

Marketing Plan

Brand & value proposition.

Healthy1 Pharmacy will offer the unique value proposition to its customers:

• Highly-qualified team of skilled pharmacy technicians and sales associates will be able to provide personalized customer service and ensure all prescriptions are handled with care.
• Unbeatable pricing to its clients – Healthy1 Pharmacy does not mark up its products and services at a large percentage. The pharmacy will offer the lowest prices guaranteed. If a customer finds a cheaper price elsewhere, Healthy1 Pharmacy will give the customer a better price.

Promotions Strategy

The promotions strategy for Healthy1 Pharmacy is as follows:

Healthy1 Pharmacy will create and maintain a company website that is well organized, informative, and lists all the products and services that Healthy1 is able to provide. The website will also list promotions and discounts, informative healthcare articles, and pharmacy-sponsored community events.

SEO/Google Marketing

The company’s marketing director will manage Healthy1’s website presence with SEO marketing tactics so that any time someone types in the Google or Bing search engine “Charleston pharmacy” or “pharmacy near me”, Healthy1 Pharmacy will be listed at the top of the search results.

Social Media Marketing

Healthy1 Pharmacy’s marketing director will also manage the company’s social media presence on several platforms including Instagram, Facebook, Twitter, YouTube, TikTok, and LinkedIn. The goal of the social media strategy is to attract new customers while engaging with current customers to encourage referrals, reviews, and feedback.

Content Marketing/Email Marketing

The company will post blogs and other promotional content on a regular basis with informative health and wellness information to keep people coming back. Healthy1 will post informative content on the website, social media platforms, and through email newsletters.

Professional Associations/Networking

Healthy1 Pharmacy will become a member of professional associations such as the Independent Retail Pharmacy Association, the National Community Pharmacists Association, and the Tennessee Pharmacists Association. The company will focus networking efforts on expanding its customer base.

Print Advertising

Healthy1 Pharmacy will invest in professionally designed print ads to display in programs or flyers at industry networking events, in magazines, direct mailers, and in local newspapers.

The pricing will be lower than competitors so customers feel they receive value when they choose Healthy1 products and services.

Operations Plan

The following will be the operations plan for Healthy1 Pharmacy.

Operation Functions:

• Stephen Harris will be the Owner and Lead Pharmacist. He will oversee pharmacy technicians. Stephen has spent the past year recruiting the following staff:
• Emily Jackson – Store Manager who will oversee all retail operations, sales associates, supplier relations, and inventory management.
• Jessica Johnson – Staff Accountant/Bookkeeper who will provide budgeting, tax payments, and financial reporting.
• Tim Thompson – Marketing Director who will provide marketing and sales campaigns for Healthy1 Pharmacy.

Milestones:

Healthy1 Pharmacy will have the following milestones complete in the next six months.

9/1/2022 – Finalize contract to lease the retail space.

9/15/2022 – Finalize personnel and staff employment contracts for the Healthy1 Pharmacy team.

10/1/2022 – Finalize contracts with suppliers.

10/15/2022 – Network at industry events and initiate the marketing and promotional campaign.

10/22/2022 – Begin moving into the Healthy1 Pharmacy storefront.

11/1/2022 – Healthy1 Pharmacy opens for business.

Stephen Harris is a licensed pharmacist with a Doctor of Pharmacy (PharmD) degree and more than fifteen years of experience working in the pharmacy industry. Stephen has been recognized for his commitment to excellence in filling prescriptions accurately and efficiently as well as his communication skills and positive rapport with customers.

Emily Jackson has been a store manager at another retail pharmacy for over a decade and has garnered a positive reputation for her exceptional organizational skills and leadership. Emily has worked in the pharmacy industry for so long, she understands all aspects required in running a successful retail pharmacy.

Financial Plan

Key revenue & costs.

The revenue drivers for Healthy1 Pharmacy are the fees charged to customers in exchange for the pharmacy’s products and services.

The cost drivers will be the overhead costs required in order to staff a pharmacy. The expenses will be the payroll cost, rent, utilities, inventory, supplies, and marketing materials.

Funding Requirements and Use of Funds

Healthy1 Pharmacy is seeking $400,000 in debt financing to launch its pharmacy business. The funding will be dedicated towards securing the retail space and purchasing equipment, inventory, and supplies. Funding will also be dedicated towards three months of overhead costs to include payroll of the staff, rent, and marketing costs. The breakout of the funding is below:

Key Assumptions

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.

• Number of prescriptions filled per month: 2,000
• Average fees collected each month: $50,000
• Retail lease per year: $100,000

Financial Projections

Income statement, balance sheet, cash flow statement, what is a pharmacy business plan.

A pharmacy business plan is a plan to start and/or grow your pharmacy  business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can easily complete your pharmacy business plan using our Pharmacy Business Plan Template here .

What are the Main Types of Pharmacy Businesses?

There are a number of different kinds of self storage business , some examples include: Pharmacy, Home Care Pharmacy, Mail Order Pharmacy and Compounding Pharmacy.

How Do You Get Funding for Your Pharmacy Business Plan?

Pharmacy businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.

What are the Steps To Start a Pharmacy Business?

Starting a pharmacy business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A Pharmacy Business Plan - The first step in starting a business is to create a detailed pharmacy business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.  

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your pharmacy business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your pharmacy business is in compliance with local laws.

3. Register Your Pharmacy Business - Once you have chosen a legal structure, the next step is to register your pharmacy business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws. 

4. Identify Financing Options - It’s likely that you’ll need some capital to start your pharmacy business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 

7. Acquire Necessary Pharmacy Equipment & Supplies - In order to start your pharmacy business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your pharmacy business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.

Learn more about how to start a successful pharmacy business:

• How to Start a Pharmacy Business

Where Can I Get a Pharmacy Business Plan PDF?

You can download our free pharmacy business plan template PDF here . This is a sample pharmacy business plan template you can use in PDF format.

Don't bother with copy and paste.

Get this complete sample business plan as a free text document.

Pharmacy Business Plan

Start your own pharmacy business plan

The Discount Pharmacy

Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">, opportunity.

People need to be able to buy prescriptions at reduced prices. We make that possible by carefully maintaining efficiencies in our operations. So we can target a specific segment of the market – those customers who pay for their prescription medications themselves. They are poor, they are sick, they deserve the same care as those who can afford healthcare and full price prescriptions. 

The Discount Pharmacy’s mission is to provide our customers with the best prices for their prescription medications. Our convenience and services will exceed the expectations of our customers.

The Discount Pharmacy’s target market consists of two different groups, local customers or walk-ins, and mail order customers.

Competition

Competition takes many different forms in the pharmacy industry. They are: chain pharmacies, local pharmacies, mail in pharmacies, canadian pharmacies. 

The Discount Pharmacy’s we have superior pricing. To do that we must maintain our position as the low cost provider by painstakingly ensuring that costs are kept low through operating efficiencies.

Expectations

Costs will be minimized by maintaining only one pharmacist and filling the void with pharmaceutical techs. We expect to reach profitability by our third year and will generate substantial sales by year three

Financial Highlights by Year

Financing needed.

We will need $115,000 to start, we will be able to pay the investment back at the end of year 4

Problem & Solution

Problem worth solving.

People need to be able to buy prescriptions at accessible prices. We make that possible by carefully maintaining efficiencies in our operations. So we can target a specific segment of the market – those customers who pay for their prescription medications themselves. They are poor, they are sick, they deserve the same care as those who can afford healthcare and full price prescriptions. 

Our Solution

The Discount Pharmacy’s main goal is to provide prescription medications for our customers at the lowest prices on the market. We will be able to sell prescriptions at reduced prices by carefully maintaining efficiencies in our operations and by targeting a specific segment of the market – those customers who pay for their prescription medications themselves. By focusing on this segment it gives us additional efficiencies – we avoid disruptions in cash flow often associated with insurance payments and we can eliminate unnecessary services for the type of knowledgeable, repeat customer taking maintenance-type medication.

The Discount Pharmacy will operate from one store that will serve both mail order customers and those who visit in person. We will thrive by employing friendly and knowledgeable personnel, which, along with our great prices, will drive the repeat business that we will rely upon. We only expect that as the price of medication continues to skyrocket, The Discount Pharmacy will appeal more and more to the customer’s sense of value and convenience.

Target Market

Market size & segments.

The Discount Pharmacy will seek to attract two different groups of customers and will thus have two strategies to attract them.

We anticipate that by far our largest group of customers will be those who order through the mail. These customers will be targeted through an advertising campaign in magazines and newsletters that have an older (>55) audience who regularly need medication and are aware in advance of their needs. For example, one of the main advertising vehicles will be the A.A.R.P monthly newsletter.

Walk-in customers will be targeted through advertisements in the local paper, "The Oregonian."  Ads will raise awareness for the The Discount Pharmacy and our low prices.

Current Alternatives

Competition takes many different forms in the pharmacy industry.

• Chain pharmacies.  These are state or national chains such as Rite-Aid.  The advantage to these chains are better prices through economies of scale, as well as personalized service.  The personalized service takes the form of the chain having a record of your medication purchases as well as any allergies that you have disclosed to them.
• Local pharmacies.   These are the pharmacies where you typically know the pharmacist and they know your medical history.  This option is high in personalized service and convenience, and high in price.
• Mail order and Internet pharmacies.  These are similar to The Discount Pharmacy.
• Canadian pharmacies.  These pharmacies are located in Canada where the cost of drugs is lower than in the U.S.  These pharmacies can be accessed through mail order, the Internet, or via travel.  Recently there has been the trend for trips arranged for senior citizens in Northern States to travel up to Canada for the day to pick up their medicines.

Our Advantages

The Discount Pharmacy’s competitive edge is superior pricing. To do that we must maintain our position as the low cost provider by painstakingly ensuring that costs are kept low through operating efficiencies.

We will be able to do that by eliminating some of the services traditionally offered by pharmacies. For example, we will employ only one pharmacist and use pharmaceutical technicians to fill the void. As long as a pharmacist is on site during the hours of operation, we can use the pharmaceutical techs for all other capacities where other pharmacies use pharmacists. Other efficiencies are created by having only a small store front and conducting most of our business through mail order.

Finally, The Discount Pharmacy is not designed to hold the patient’s hand during their purchase. We expect that the vast majority of our customers will already be informed of how to take the medication, and any side effects or drug interactions that should be avoided. We will simply provide each patient with a print out of all the relevant information for consumption of the medication.

Keys to Success

The keys to success are:

• Satisfy our customers so they will return again and again
• Maintain low overhead and operating costs
• Provide better prices than all our competitors

Marketing & Sales

Marketing plan.

The marketing strategy will be based on social media, mainly Facebook and Twitter, offering useful information and opinion while quietly appealing to the customer’s sense of value. The marketing campaign’s goal will to be increase awareness of The Discount Pharmacy with their target market.

The sales strategy will be based on generating long-term relationships with customers. To facilitate that, we will provide medications at superior prices, have medicines in stock for both quick shipment and store front pick up, and provide superior customer service. All sales agents will be trained to provide friendly, knowledgeable customer service. By keeping to these simple, yet effective, business practices, we expect that our customers will make The Discount Pharmacy their exclusive source for medications. For some, medications are an integral part of their lives, so establishing long-term relationships will ensure a large, loyal customer base

Milestones & Metrics

Milestones table, key metrics.

Our key metrics are: 

• The # of customers that walk in to the pharmacy 
• The # of customers that choose to mail in 
• The # of reviews saying that people could go to our pharmacy 
• Facebook page views, Twitter retweets  and website shares 
• Total customer traffic on the website 
• Total customer traffic in and out of the store 

Ownership & Structure

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Management Team

John Reeleaf has experience working with a major drug manufacturer, Eli Lilly, as a drug representative. He was able to see first hand the profitability associated with the prescription drug industry, as well as the inefficiencies with which most companies are plagued.

John graduated with an MBA from the University of Oregon’s innovative entrepreneurship program. While there he was awarded a $50,000 no interest loan through a business plan competition. That seed money will be parlayed, along with some other investments, into start up expenses for The Discount Pharmacy. John received an undergraduate degree in chemistry from the University of Oregon.

Personnel Table

Financial plan investor-ready personnel plan .">, key assumptions.

Key assumptions: 

Of course our main assumption is legality. Regulations affecting our business can change very fast. 

People appreciate:

• The mail in order option for their convenience 
• Prescription at affordable prices 

Revenue by Month

Expenses by month, net profit (or loss) by year, use of funds.

The Discount Pharmacy will incur the following start-up equipment costs:

• Office equipment including chairs, file cabinets, and desks.
• Front counter, storage bins, cash register.
• Three computer terminals.
• Main computer server with a laser printer, and back-up system.
• Software: Microsoft Office, QuickBooks Pro, drug interaction software, Physician Desk Reference software detailing side effects and other information pertinent to the customer.
• Assorted bottles, boxes, envelopes, etc. for dispensing and shipment.
• Scales for shipping.
• Telecom system.
• Storefront build-out.
• Start-up inventory.
• Rent, utilities, insurance.

Please note that these items will be used for more than one year and will therefore be labeled long-term assets, depreciated using G.A.A.P. approved straight-line depreciation.

Startup expenses – $24,100 listed as net earnings in dec 2017 

Start-up Expenses

Legal $1,000

Rent $2,000

Utilities  $400

Telecom System $400

Insurance $300

Storefront Build-out $15,000

Expensed Equipment $4,000

Website development $1,000

TOTAL START-UP EXPENSES $24,100

Sources of Funds

Planned Investment

Seed Funding $50,000

John $51,000

Friends and Family $82,100 

Projected Profit & Loss

Projected balance sheet, projected cash flow statement.

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Pharmacy Business Plan Sample

APR.29, 2017

When someone is found doing workouts at home how to start a pharmacy, he must need relevant information, charts, table of content, independent pharmacy business plans, pharmacy business plan as well as few sample templates for pharmacy business branding. So, the entire business plans for pharmacy must include the most important points which must be well covered to start pharmacy business in full fledged.

Pharmacies must have stock of the best medications, and valuable healthcare accessories including sanitary pads, contraceptive pills and many more. Be modern and try to design a good pharmacy marketing plan before going for investment of financial resources in the industry. Get more new pharmacy business plan ideas from different sources.

Diseases, infections and virus attacks are very dangerous to shorten up the span of life of a guy. So, medications are needed to remove injuries, reinforce the immune system and increase the life expectancy to a great extent. For this reason, pharmaceutical agencies and drug manufacturing companies supply new drugs to people to resist the diseases in advance. Pharmacy business is really lucrative and profitable to an entrepreneur. Drugs are needed in hospitals, clinics, healthcare centers and in residential houses for preventive care.

Drugs are used to cure feeble patients. Children need a number of boosters and antibiotic shots to overtake a number of complicated health hazards. In large scale, medications and potions for patients are required in hospitals. Therefore, pharmacies have the jobs of selling drugs to customers. As an entrepreneur you can also start a small pharmacy or drug store in your locality. Sample pharmacy business plans and template will guide you. We, at OGSCapital, help you with this. Our executives have all the expertise for helping you to develop an appropriate strategy to fulfill your all objectives. If you wish to initiate the process, you just need to fill a contact form.

Choose Top Pharmacy Business Plans to Start Pharmacy Successfully

Well, are you a pharmacist to have licenses for running pharmacies in any town? This question is asked by many enthusiasts who are eager to know whether anyone has the permission to open a local drug store in the vicinity. Certainly, opening local drug stores, you must have an experienced pharmacist to check the prescribed drug lists. Pharmacists have the ability to read the prescriptions and identify the drugs at a first glance. His expertise in prescription reading, drug list checking and familiarity with new drugs helps the vendor to sell drugs comfortably.

If you are not a pharmacist, you need a specialist to hire in the case of inaugurating pharmacy in any popular area. He will help you to read prescriptions, handpick particular medications and understand the medical terms. Drug manufacturing companies in America have to sell only FDA approved medications. They must get authentic papers, citations and drug selling licenses from FDA as well American government.

Therefore, be familiar with local rules to starting a retail pharmacy business plan commercially. Go through a top sample pharmacy business plan and free template for more information.

Basic Requirements to Start Pharmacy Business

• A complete retail pharmacy business plan
• A preliminary financial budget
• Specific site for posting retail pharmacy business plans
• A specialist/experienced pharmacy
• Good stock of new drugs in
• Healthcare accessories like sanitary pads
• Basic amenities like refrigerators, electricity, water and good air vents
• Pharmacy needs to have a site for industry promotion
• Site map with a sample Pharma business plan as well as template
• Information brochures
• Medical aids kits to supply
• Initial affordable drug selling packages to attract customers to have drugs at low price
• Free quotes to do comprehensive studies for opening up a pharmacy.

Understand the Innovation in Pharmacy Business

Pharmacies must not be dirty and poorly managed. Expensive drugs should be stored in safer place which is much more eco-friendly. Heat, fire, rain water and bacteria destroy life saving drugs. The drug store should have excellent air ventilation, clean ambience, least toxins inside the shop and soothing ambience. Refrigerators keep stored medications in good condition.

Internet browsing is not harmful. So, regular data checking must stand you in good stead. The more you research the more you will get new ideas to launch a compact pharmacy business project with bright expectation to have excellent returns. Initially, as a newbie, your ability to design a pharmacy business plan must be limited. You are an educated person with enthusiasm to stand resilient financially. You went for getting advices from seniors to open pharmacies.

Maybe you have had dream of becoming a good pharmacist with your own outlet to sell qualitative drugs. Fake and spurious medications, potions and medical aids are destructive. These fake drug dealers must be punished. In the open market, low quality, sub-standard medications and expired healthcare tonics are sold at low prices. Therefore, every year, the death toll increases due to the exposure to the drug adulteration. Perhaps you have the setback or previous caustic experience. Someone might have died due to consumption of bad drugs. Your dream must be fulfilled.

Online planners in pharmaceutical industry have pre-designed samples, fact sheets, research papers and documents to train newcomers. Novice financers have no industry expansion ideas. Especially pharmacies are different projects to highlight. Drug is the most valuable product as it saves lives. So, definitely lot of care is needed to run pharmacies or drug stores in the city. What type of pharmacy business do you need to opt for? Basically, drug retailers, individual sellers and small size company partners like to have free consultation before establishing a start-up drug store in any known area. The advantages of opening drug stores or local pharmacies in the residential areas include

• Known ambience
• Good familiarity with local citizens
• Be accustomed to local administration
• Good relationship with doctors, patients and oldies
• Easy to find customers
• Better options to enlarge pharmacy business in the home town

However, most probably, you are trapped because you must struggle to find more genuine options to expand your drug stores to have lot of money. So, geographical barrier must not be a problem. Often, it is a lucrative business for you in case you have the plan and templates to take your drug store to backcountry. There are not many drug stores. Competition is low. You can buy and sell expensive drugs to rich persons. Poor people will get affordable medications from your shop.

So, it is good business to manage in the rural areas. However, drug stores in cities are always dazzling in vanity. The buying strength of local people is obviously higher. City based pharmacies are equipped with modern infrastructures. In villages, poor people are not able to buy costly drugs. The availability of sumptuous medical aids packages is also not good in rural belts. Urban areas are developed. Therefore, locate the place and start evaluation. Pros and cons must be checked before deciding to deal with pharmaceutical industry. Retail pharmacy business plan writers are also helpful to people to have guidance in designing the independent plan for starting retail drug store business plan .

Brand medications are not cheaper. These drugs have qualitative components used by manufacturers to produce standard medications in the market. The effect of intake of brand medications is really awesome to help patients to avoid disaster. Doctors prescribe brand medications. Great. Well, one of the best ways to sell brand medications is to find the high profile class. Online ventures must bring a new customer to you. This is a different industry for entrepreneur as there is little chance to meet vendors face to face.

Customers hit the online sites to check the pharmacies for buying the branded drugs recommended by experts. All are not financially sound to buy brand drugs. Pack of Viagra (branded) costs a customer around $1000. Or a pack of 60 pills of Soma is equivalent to $400 inclusive of overnight shipment cost. So, economical buyers find generic medications which are affordable to some extent. Therefore, your drug stores must have both branded medications for the rich and generic medications for the economical class.

It will be a strategy to win customers by providing alternative medication buying option. Generic medications are cheap and components used in manufacturing these affordable drugs are not low in quality. The impact of consumption of generic medications is equal to the effect experienced by a person who takes brand medications. Retail pharmacy business plan writer has many ideas/ template to precise the process of industry inauguration smoothly.

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Discount Pharmacies

In the pharmaceutical industry, scientific probing, research and deep analysis are inseparable. Scientists in the medical arena are trying to invent more cost efficient products which must be vehicles for economical customers to save money. Pharmacists will emulate new technologies to increase the cost effectiveness and quality of the drugs. So, doctors, scientists and pharmacists are closely connected for making a convenient customer support portal for better drug supply at low cost. Discount pharmacies are byproduct of the innovative thoughts nurtured by experts.

The collaborative venture in the pharmaceutical industry has made a strong platform for pharmacy business owners to sell affordable medications at discounts. Customers get promotional codes on different types of generic medications. It is much more cost efficient. It is much affordable to a young guy. Result is also same. So as a pharmacist, offer your customers what you have in stock. Discount pharmacies are the places for buying cheap generic medications. Brick and mortar discount drug stores reduce the cost of buying valuable medications.

Well, think whether you are fitted to drug selling industry. A discount drug store needs to have only cheap medications which must be good. Customers will get their drugs by showcasing prescriptions. Now, tailor a business plan identifying the trend in the market. You have handful options to use. As a local guy, you can apply for loan for industry running. Banks will give you support to invest in the pharmaceutical industry.

Next steps include the easy refinancing, recruitment of competent employees, assistants , the availability of good medications at discounts and drug safety programs to minimize the threat. People need proper medical assistance from a vendor. As being a professional pharmacist, it is your concern to prioritize the table work/ground work to inaugurate the drug store in your residential area. Innovation can’t be stopped. Americans are habituated to consume sleeping pills, anti-anxiety drugs and self-boosting capsules to have energy in excess.

They are fast, sophisticated and crazy to travel for exploration. Well, most of American customers are seen buying drugs from online pharmacies which offer discounts. These online discount pharmacies assist busy Americans to have affordable qualitative medications at considerably cheap prices. So, you must have a compatible optimized online shop with an inventory storing only new drugs/ prescribed medications/non prescription medications at discounts. The local stores for drug selling are not permitted to sell non prescription drugs.

They need prescriptions. However, comparatively online pharmacies have good options to help customers to purchase non prescription drugs. Customers don’t need to send the scanned photocopies of prescriptions to pharmacists to buy packet of Soma or Viagra. Buy medications from vendors at any point of time. So, if you want to modernize your retail drug store, design an affordable business plan to start selling generic medications at discount drug stores without putting a band of legal obligation. The online pharmacy is not a local departmental store.

Customers don’t need to visit the store for product purchasing. The virtual shopping cart or pharmacy is actually run through internet. Its customers place orders at the shopping cart and complete transactions instantly. Vendors are liable to ship products to the customers. Now you must have a site which supports mobile phones, computers and different smart devices. Consumers will cross check list of drugs available in their areas. You have a group of employees who manage customers online. Usually, online pharmacies have no go-down or small warehouses.

They are professional and hire moving companies for product shipment. It is a chain for drug supplying. No manual paperwork is conducted. Nor is there any option for meeting customers physically. So, the whole transaction is done via internet. E-commerce infrastructure is easy to operate. This marketing strategy is extensive to help local traders to go for vast venture to reach million customers on a single go. Around $829 billion is invested in global pharmacy business. So, this opportunity is also open to you to have scum of the profits to upgrade your own life.

Online discount pharmacy is open regularly round the clock. Customers from different locations hit the online drug store and buy medications. Prices of these lifesaving drugs, sanitary pads, healthcare pills and antibiotic pills are affordable. Discounts of these medications are attractive to impress economical class. Like Rite Aid, you can also have a chain meds service to bring more fluent drug delivery options to customers. Give individualized service by keeping personal records of patients after clearing transactions.

In future, if the customers have allergies or infections, try to avoid supplying medications which are not prescribed. Besides, help them to choose the prefect meds from the inventory. Unlike local drug store, online discount pharmacies have multi channels to get customers. If you have licenses or permit to export medications to market abroad, strategy vastly. Then, you are also a good exporter with permits to deal with overseas clients. Online platform for medication selling is now modernized.

The shopping carts online must have fast content management, instant credit checking while making payment, quick transactions and free registration. The prescription refill process must be fast and easy. On the other side, the non prescription generic or brand medications should be supplied to have more positive visitors to hit your e-commerce website.

So, you will also have lot of sources to track the best retail pharmacy business plan/ templates, pharmacy start up business plan, pharmacy business plan pdf and innovative pharmaceutical sales business plans. Go through ins and outs of pharmaceutical business plan, pharmaceutical business plans sample, and retail pharmacy business plan including new templates.

Product Quality – Must

In the pharmacy business, the product quality is a must. A vendor or pharmacist should not earn money by delivering expired meds to patients. He should have social obligations to maintain for fairness in pharmacy business. Same way, he is also responsible to process the orders. If meds are delivered late then patients can die. If it is urgent, then shipping process must be fast. Overnight drug supply is not cost effective. Extra processing charges are borne by the buyer.

When your pharmacy business blooms, you must have some better options to make your customers happy. Your online pharmaceutical has few exceptional features which are unbeaten to take your pharmaceutical to million customers outperforming rivals. Pharmaceutical companies must facilitate customers to have their drugs at discounts. Quality of the drugs must not be low. For this reason, there must be analysts and experts to make their comments based on the products meant for sale. Customers will talk to consultants for getting pharma template.

They will go through reports, comments and reviews to have ideas about the quality of meds kept for being sold. Your online med supply stores should be compatible with multiple devices including smart phones. Customers are interested to cross check regular information and updates on their mobile phones. Your e-commerce portal is connected with vast network to support such a sophisticated device. Online customer management center assists new customers to buy products.

For this reason, people feel free to go for buying expensive brand meds from the best pharmacy online. Jot down pros of running a discount pharmaceutical online. Why do people want to buy products online? What is the difference between a local med store and the pharmaceutical on internet? What type of med is sold online? What are the most important pros of buying meds from online pharmacies? Is it cost effective or less time consuming to make deals with online vendors? Well, there are more such questions which can be highlighted for discussion.

Basically, internet based online med stores don’t need manual paperwork. Nor is there any need to entertain customers at the shop. So, investors are not required to buy the land for constructing a big set-up to sell packets of life saving meds, boosters, and health tonics. Online meds stores are operated by pharmacists through broadband. It is a different setting to attract people for business related transaction. Many people don’t understand how to buy meds online. They must be educated.

Well, your pharmacy business promoting campaigns should encourage customers to know about the good aspects of online transactions. First of all, post few blogs, photos, slide shows and of course glossy video clips on home screen to lure newbie customers to have a fast look at the site. After visiting the site, they will be energized to read content, check photos, videos, slide shows and navigate in the site. Online free start-up pharma template will make you more confident.

Site accessibility, information delivery, transaction method, registration, product buying as well as packing for shipment, prices of medications, and way of billing must be innovated. Therefore, ask your website designers to upgrade the site nicely to make it much more compatible with the latest i-devices. Ask them to assist you to change the old policy. Crazy customers in America, Canada, the UK and other parts in Europe have tendencies to buy non-prescription drugs which are not recommended or prescribed by doctors.

They have to pay higher prices to get packets of sedatives or anti-anxiety pills from the local market. Often they are addicted to spurious drugs which enhance the scope of faster deterioration in the health management. They don’t need prescribed drugs as they are not permitted to consume multiple sedatives within 24 hours. They are drug addicted and therefore proper counseling is needed. However, when they hit the online sites or med stores on internet, the surprising gifts are waiting for them.

At a time, it is possible to buy different meds from stores without providing prescriptions. Secondly, they have facilities to deal with a number of drug stores in this online drugstore industry. Promotional offers and discounts are offered to customers as well. At first, when you establish a small size pharmacy, you require the base to stand. It is the ground for you to start building up a strong long lasting structure. It is a dynamic policy to enhance the much faster business promoting.

New Policy for Starting Pharmaceutical Company

Minimum investment is needed to run a pharmacy business. So, the product selling base is required first to ensure the good prospect in this meds supply industry. How to achieve success depends on the strength, resilience, willing force, and lot of energy to do the hard work out. Maybe, it is time consuming but success will come through devotion, hard struggles, and meticulous research to find the best opportunities to be successful entrepreneur with a solid pharmacy business structure.

Invest in the best market where there is excellent ambience to gear up the money earning. It is one of the best things for you to locate the area where you will open the small drug store with innovated structure, and other facilities to tempt customers. It stands to reason; you require lot of plans to design. When you have the dream projects to implement for the business expansion, you must have someone to take you to the last resort successfully.

Many of start-up entrepreneurs are not well organized due to the lack of experience in pharmacy business planning as well as endorsement policy. Well, in this case, a professional business planer needs to be hired for innovating the business plans before investing in the pharmacy industry. Money is needed but you should have excellent projects which have lot of information, data, template, strategy, table of content and resources to let the pharmacy business run smoothly.

Research, probing, intuition and self-discovery study are important to aspiring pharmacy entrepreneurs. To become an experienced entrepreneur, you will have to have strong desires to probe deeply. This research oriented mind will give you a booster to scale up in the industry with success. That’s why, when you have new innovative commercial management plans, policy, programs and glossy projects to implement, you must not stop. The start-up pharmacy business must be expanded.

The profits must be generated. The mobility in the business promotion should be uninterrupted. The longevity of the pharmacy business should be surprisingly longer. Therefore, concentrate on different aspects of commercial management. Go to professional business consultants, experts and business analyzers to have new guidelines/instructions/ plans for extensive analysis.

Brand Business

Brand name of your business works as a booster. It is the workforce. It is the vehicle with a new strategy for you to start the business smoothly. Who will track your business? Brand name is the sign of identification. People will be familiar with your company through the brand name. So, choose the most suitable name for your pharmacy. Well, maybe you have lot of confusion how to configure the brand name and logo.

Really it is much important to you. A cumbersome brand name is not easy to understand. If the name of the pharmacy is long and technically intricate, people are not able to read the brand name easily. So, select the relevant short and attractive words to name your med store. Obviously you need a strategy to conduct more productive business branding.

Invest Money in Promoting Products

Million dollars are overspent in the business promotion campaigns. Giant entrepreneurs have lot of money and they spend financial resources to promote business. Gifts, discounts, and promo codes are offered by these multinational companies. Well, you are a small entrepreneur and you need to earn more money. In the beginning, you have few attractive projects to inaugurate the small business. Well, strategically, you must advertise your products. Advertisement agencies can make your dream productive through lot of ground work, plans, programs and tips.

Hire the top notch advertisers who will make a brief-up covering the most important areas of pharmacy business. Your online advertisements, ads and video clips showcase the med store to impress customers. Certainly, you must have some awesome product endorsement publicizing projects. How to promote the pharmacy business? The objective of your promotional expedition lies in the expansion of the customer management platform with more opportunities to build up the foundation for rejuvenating the business.

Business branding through internet is the weapon for you to convey the best message to people. Your strategy to run business must be effective. What type of medication do you need to sell? Are you a drug retailer? Are you able to sell cheap generic meds? What sort of med do you have in stock? People need better price tags. They are economical. They have the least interest to buy brand meds. Well, your discount drug pharmacy is very much modernized with the stock of high caliber generic medications, life saving meds and qualitative drugs at discounts.

Next step is to have all legal papers, and documents. The paperwork must be done step-wise. First of all, you have to apply for a license. It is the passport for your pharmacy to run. Certainly, it is not easy. Drug licenses are approved only after several surveys, cross verifications and probing. You can’t damage one’s precious life by supplying low quality spurious meds. Right now, government and FDI are not flexible to issue drug licenses easily. Drug addiction is now accelerating to make young generation incompetent.

They have lot of drug buying options. Fake dealers and spurious drug suppliers are seen tempting customers. That’s why; fake licenses and wrong documentation are severely increasing to threaten up people to a great extent. Therefore, you must be fair and honest to have your licenses legally. In this connection, meet an attorney who will advise you how to get the drug license from the superior authority. Smartly speaking, it is not entirely difficult. The legal power will assist you to convince the concerned authority to have the original drug license.

In the beginning, it is the most unavoidable assignment to contact a group of legal experts to ensure the advertising project completion successfully. Pharmacy business must not be dried up after few weeks. You should not backtrack in shame. Bold and strong entrepreneurs must have energy to prioritize the collection of important components to format a new strategic version of business plan to nourish the pharmacy outlet dynamically.

It is a must to maximize the vast media exposure, business branding, meticulous analysis and study to probe deep with good motif to locate the most fruitful niche to speed up the business promotion. Your decision must not be obscure because of the disorders created by your subordinates. Therefore, organize your team to finalize the business branding program and innovative commercial management strategy with the resolution of giving thousand horsepower to your small med store to gain speed.

Tailor Futuristic Advertising Projects

Design futuristic advertising projects. Calculate how much fund is required to establish a single compartment as a small street outlet for selling generic meds. Money you need must be available. If you are not so lucky to arrange fund immediately to overtake hurdle, you must not be found being in lethargic state. Business loans, short term financial aids, and good financial support from different agencies are obtained without complicated paperwork. So, search for this type of secured/unsecured business loan to finance the med store. Financial assistance must be required to buy packets of brands drugs, install computers, and other tools to decorate the drug store.

Basic Components of Discount Pharmacy Business Plan

• Basic indoor furniture pieces like table, chair, desks, small file storing cabinets
• Cash registering systems
• Front counter
• Computer terminal
• Printer for billing
• Electrical goods
• Small data storage server
• Shipping accessories
• Good insurance coverage
• Storing bins

Important Facts to Remember

Customers are different in nature. They don’t have similar mindsets. Nor are they on same strings. Well, study and then evaluate the mindsets of customers. Choose the area where you will get positive customers to sell drugs. Reinvent new strategy to promote pharma. Specific groups of customers need to make walk-in visits to the outlet to purchase meds. This sort of customer has the habit to go to the local med store to buy meds. They are literate.

However, many laymen in the lower middle class are interested to buy prescribed meds from the pharmacies. Secondly, there is another group of people. They are online buyers. They have money to go to the online pharmacy to purchase drugs. Basically, generic medications, and different types of stress management pills they buy from online stores. Prescriptions are not a must for them to buy Viagra, Cialis, Soma or any cheap generic medication to consume.

Apart from this economical class, the enriched and affluent high profile buyers opt for brand meds. Now these medications are very expensive. Even vendors of publicizing portal are not capable of storing different types of brand medications for sale. So, tailor a compact financial budget which must include the overall cost of storing brand, generic and local meds at discounts. The product sale must be fast. Drugs which stored in your refrigerator must be qualitative.

Top Strategies to Expand Pharma

Strategies are applicable to the drug selling. Promotional campaigns are conducive to the faster development of the business. However, forecast is needed to evaluate the vision of yours in the long run. In the first year, estimate the profit percentage. Then you must compare whether you are a gainer or loser. Moderate revenue collection is also good as you are a novice entrepreneur. Well, you need to improve by hook or by crook. Commercial management is not a new thing. Even local traders and informal entrepreneurs know this term.

When your pharmacy business will be launched, your target must concentrate on the store management. Employees should be duty bound. Your pharmacist must be responsible. Drugs kept in your refrigerator must be hygienic. Temperature inside the drug store must be eco-friendly. Apart from this, documentation, billing, registration process and other paper work must be carried out properly. At present, computer application is very urgent. Your tiny med store must be renovated with a set of computers, laser printer and printable papers.

Customers will get bills and invoices through automated bill generated machine. So innovation in the decoration of the med store is certainly essential. Commercial management is also done via internet. Online documentation is undoubtedly smooth. Contact customers on online chatting platform. Talk to them over phone. Make video calls to have advices from experts if required. Permit your employees to use cell phones to send emails to your inbox. Oracle based commercial management portal must be installed into your pharmacy store for taking care of back office jobs smoothly.

Understand Competition and Reset Your Marketing Strategy

You are not alone in the pharmacy advertising portal. Regularly minimum 1 million visitors check over thousand sites to buy medications in the world. Billion dollars are hovering in the med manufacturing trade. The advancement in the med field is the turning point and slowly people are showcasing their interest in buying drugs from the online pharmacies. Rivalry, competition, and struggles are basic things for a trader. To make your pharmacy business/ marketing profitable, be proactive to be much more competent.

Emulate new strategies. Borrow much innovative marketing plans and imitate successful sample business templates to bring innovation to the pharmacy business/ pharma marketing. Who is your rival in the market? Well, rivalry doesn’t mean hostility. You must not have impatience to kill someone. Nor are you a militant to spray venom for terminating the city. So, don’t be misled. Competition means the fair rivalry in advertising trade. You should upgrade your trade structure.

You should be efficient to sell drugs at more affordable prices. You should have dozens of futuristic plans to enlarge the trade faster. The cost efficiency is the objective of a newbie to reduce the cost of drugs. Similarly he will not violate the FDI law to sell drugs at lower prices. Competition is needed for the betterment of the service. Fancy how to bring a result oriented business promotion strategy to expect a sound financial structure by operating a small pharmacy store.

Be a creative person. You are budding pharmacy entrepreneurs. So, recycle your raw energy embedded in mind. Go through periodicals, brochures, and magazines to have authentic information. Research materials need to be gathered for making a giant project to enhance the superb commercial management. Therefore, create a different business plan for pharmacy. It is your draft. You have quality to express what you need. You have bundles of new concepts, and ideas to use.

So in draft assignment, feel free to describe the goals, objectives, business starting plans, budget related issues, sources of arranging fund and basic requirements and marketing to start the drug store. Well, the finishing touch needs to be added to the draft. An experienced pharmacy business planner has over hundred samples. He is a professional business plan writer for pharmacy.

He has solved complicated problems. He is one of the most successful planners in the field. So he can give you a summary of the business plan. Even his instant business plan writing backup must be fruitful to you. Do more probing in the modernized med manufacturing and pharmacy company.

Upgrade your basic knowledge for the sake of good familiarity with the pharmacy field/ marketing. Online library, data and million tons of samples boost up novice traders to track their loopholes in upgrading futuristic strategy. Through compact SWOT analysis, he is able to find the negative factors which are not helpful to him to run the small size drug store. Strength of the entrepreneurs must be identified. It is also applicable to you as well. Track where are going? If you have no vision, the area will not be resilient. You should find the niche in which you will cultivate the land for flourishing the pharmacy business dynamically.

Install Plan Software

Conventional planning needs to be replaced. Computers minimize the jobs of taking care of customers. Well, few years back, drug stores have to keep large space for entertaining customers who were found standing for buying medications. Separate counters for billing were open to all consumers. Drugs were not sold through a single counter during emergency. So, there must be extra space for drugs storing, supplying and customer management. Besides, lighting fixtures, indoor furniture pieces and other important accessories must be installed in the drug store.

Simultaneously, change the traditional billing system. Commercial management/ marketing process must undergo vast innovation. Compact highly advanced SAP software for management/ marketing software is on display in Google. Experts have reset this SAP model to help entrepreneurs to complete handful jobs perfectly. Billing, customer care, marketing, data management, invoice processing, and company analysis are conducted. You have the fast software to take decision within short span of time.

Your marketing trade must be perfectly integrated into a unique platform. Monthly you must analyze the trend. Is your pharmacy running fast or any downtime is likely to happen? Profit ratio, and revenues collected for the particular year must be cross checked. Industry remodeling must be done. However, it is really urgent to go deep and find more facts to compare. Is your drug store compatible with new technology? For instance, virtual pharmacy industry is now much sought-after.

Many American guys buy drugs from online med stores. However, in South Africa, Nigeria, and many countries located in Asia are not perfectly tuned up to run online med stores. Mail order delivery system is not innovative in the remote places as well. So, before opening a new drug store online, once again study to understand the mindsets of local people. However, online mail order marketing system is a vast business expansion portal. You will get more customers in this pharma industry.

Even if you have authentic permits and licenses to export expensive meds to overseas customers, you are a successful entrepreneur with good prospect. Drugs are not useless things. Patients must need medications to save their lives. So, the importance of online pharmacy business will not go down even after a millennium. So, slowly you must have command over the pharmacy commercial management/ marketing. Newbie entrepreneurs should do experiments to be much acquainted with the latest industry operating ethics.

It is obviously time consuming but with technical innovation, and advancement in the commercial management, it is wonderfully much more convenient for a newcomer to learn how to open a good pharmacy store in this specific industry. Starting a pharmacy business plan designed by experts is basically a tool for a newcomer to get a roadmap to innovate the pharmacy in much more dynamic way.

In this connection, OGS capital consultants online are experts to guide newcomers how to chalk out futuristic pharmacy business projects fantastically. Take valuable business promoting tips, modern strategy and free advices from these consultants. Chat with OGS capital business consultants to have new strategy, and ideas to remodel the entire corporate portal successfully.

Download Pharmacy Business Plan Sample in pdf

OGS capital writers specialize in business plan themes such as massage business plan , medical clinic business plan , cannabis dispensary business plan , nursing business plan ideas , transportation corporation health services business plan , reiki business plan and many others.

OGSCapital’s team has assisted thousands of entrepreneurs with top-rate business plan development, consultancy and analysis. They’ve helped thousands of SME owners secure more than $1.5 billion in funding, and they can do the same for you.

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Plan Templates

15+ pharmacy business plan templates – pdf, doc.

When you sample plan on opening up a business, it’s very important that you know what it is that’s supposed to happen. You’ll need to figure out everything that needs to transpire for your business to reach the success that it’s supposed to. This is especially true if you plan on running your pharmacy. Similar to a marketing plan or a financial plan, a business plan for a medical store, drug shop, or new pharmacy branch can help you make a strategy for details like organizational responsibilities, risk management, education for chemist workers, and wholesale proposal. You may also check nonprofit business plans .

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Pharmacy Business Plan Template

Medical Store Pharmacy Education Business Plan

New Startup Pharmaceutical Business Plan

Wholesale & Retail Discount Pharmacy Business Plan

How to Create Your Pharmacy Business Plan

1. know what your mission and vision for your pharmacy should be, free online clinical e-pharmacy business plan.

Free Pharmacy Council Strategy Business Plan

Business Plan for Pharmacy Technician Executive Summary

Business Plan for Pharmacy Authority Risk Management

2. Share What Kind of Pharmacy You Plan on Opening

• Community Pharmacy
• Compounding Pharmacy
• Consulting Pharmacy
• Ambulatory Care Pharmacy.
• Regulatory Pharmacy
• Hospital Pharmacy
• Industrial Pharmacy
• Clinical Pharmacy

3. Point Out Who Your Target Audience Is Going to Be

4. share how much it’s going to take to start your pharmacy, independent pharmacy business financial plan guide.

Free Organizational Pharmacy Business Continuity Plan

Free Pharmacy Resource Business Plan

Free Drug Store Pharmacy Business Plan

Community Pharmacy Business Plan Template

Free Chemist Pharmacy Business Plan Template

Free Pharmacy Business Plan Proposal Template

Pharmacy Business Marketing Plan Template

5. Explain Your Marketing Strategies

6. make an executive summary, more in plan templates, national pharmacist day flyer background, pets clinic flyer template, nursing flyer template, pharmacy and drug store flyer template, pharmacy services flyer template, pharmacy medical services flyer template, pharmacy and medical supply flyer template, basic healthcare flyer template, bbq summer party flyer template, nursing home care flyer template.

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DOWNLOAD PHARMACY BUSINESS PLAN SAMPLE (WITH FINANCIALS)

Looking for a Pharmacy business plan for your new or existing enterprise?

Download this pharmacy business plan, which you can download to present to NIRSAL, TEF BOI, BOA, and other investors.

How Much to Start a Pharmacy Business in Nigeria

Starting a pharmacy business in Nigeria requires a significant amount of capital investment. The cost of starting a pharmacy business will depend on several factors, including the location, size of the store, the range of products, and the business model. Here is a detailed technical guide on how much it costs to start a pharmacy business in Nigeria.

• Business Plan: The first step to starting a pharmacy business in Nigeria is to develop a comprehensive business plan. The business plan should include details on the products to be sold, target market, marketing strategies, financial projections, and other essential details.
• Registration and Licensing: The next step is to register the business and obtain the necessary licenses and permits from regulatory agencies, such as the Pharmaceutical Council of Nigeria (PCN) and the National Agency for Food and Drug Administration and Control (NAFDAC). The cost of registration and licensing can range from ₦200,000 to ₦500,000.
• Store Location: The location of the pharmacy store is a critical factor in the success of the business. A strategic location with high foot traffic can attract more customers and generate more revenue. The cost of renting or leasing a store will depend on the location and size of the store. The cost of renting a store in a busy area can range from ₦500,000 to ₦2,000,000 per year.
• Interior Design and Furnishing: The interior design and furnishing of the store will depend on the size and location of the store. The cost of interior design and furnishing can range from ₦500,000 to ₦1,000,000.
• Inventory: The cost of inventory will depend on the size of the store and the range of products to be sold. A medium-sized pharmacy store will require about ₦5,000,000 to ₦10,000,000 worth of inventory.
• Equipment and Supplies: The equipment and supplies required for a pharmacy business include shelves, display cases, computers, cash registers, barcode scanners, and other supplies. The cost of equipment and supplies can range from ₦1,000,000 to ₦3,000,000.
• Staffing: The cost of staffing will depend on the number of employees and their salaries. A medium-sized pharmacy store will require at least four employees, including a pharmacist, a sales representative, and two support staff. The cost of staffing can range from ₦500,000 to ₦1,500,000 per year.
• Marketing: The cost of marketing will depend on the marketing strategies employed. A pharmacy business can employ various marketing strategies, including social media marketing, email marketing, and local advertising. The cost of marketing can range from ₦100,000 to ₦500,000 per year.

Overall, the cost of starting a pharmacy business in Nigeria can range from ₦10,000,000 to ₦25,000,000, depending on the size of the store, the range of products, and the business model. Entrepreneurs need to conduct proper market research, develop a solid business plan, and invest in quality equipment and inventory to ensure the success of the business.

DOWNLOAD THE PHARMACY BUSINESS PLAN TEMPLATE

1.0. Executive Summary

Ara Pharmacy store will be located in the heart of Ilorin, Kwara state. A well-structured facility that matches the perfect picture of a community retail pharmacy store needed has been acquired on a term of the lease for 5 years. Also, the facility requires a little amount of spending on renovating because before taking over the facility, it was used as a retail store.

Ara Pharmacy store is looking to sell an array of pharmaceutical-related products within the Ilorin environment and beyond. We are targeting the common masses, so our pricing policy is “affordability and accessibility”, i,e to charge as low as possible via our online store and over the counter.

A key factor we have outlined is ensuring our staff including the physician are well trained in administering top-notch pharmaceutical services including drug administration, and clinic recommendations.

At Ara Pharmacy Store, we will ensure that all our customers are given first-class treatment whenever they patronize us. We will use CRM software to manage a one-one relationship with our customers no matter the increase in customers’ base. We will ensure that we carry along with our customers in the selection of brands that will be on our racks and also when make some business decisions.

Ara Pharmacy Store is owned and managed by Kunle Ara and Family. Mr Kunle Ara is the Chief Executive Officer of the business; he has a first Degree in Pharmacy and an MBA from the University of Ilorin, Nigeria. He has over ten years of experience working as a pharmacist with an NGO in Nigeria.

2.0. Products and Services

Ara Pharmacy Store will retail a wide range of generic and branded prescription drugs from different manufacturing brands to customers. Also, we will engage in the sale of the following Products;

Beauty goods

Luxury foods

Small scale medical equipment/instruments et al

3.0. Our Mission Statements

To become the most open retail pharmacy store in the whole of Ilorin and other parts of Nigeria.

4.0. Our Vision Statements

To Establish a standard and top-tier retail pharmacy store that provides her customer with a wide range of generic and branded prescription drugs from the best pharmaceutical manufacturing companies at affordable prices to the residence of Ilorin.

5.0. Our Business Structure

Ara Pharmacy Store is a business that will be built on a solid foundation. We decided to hire experienced and qualify employees as foundational staff of the organization because we are quite aware of the rules and regulations governing the pharmaceutical industry.

These are the positions that will be available at Ara Pharmacy Store;

CEO (pharmacy owner, superintendent pharmacist and supervising pharmacist)

Pharmacist (Manager)

Merchandise Manager

Pharmacist technician (3)

Information Technologist (Contract)

Sales agents (3)

Cashier (Counter Agent).

6.0. SWOT ANALYSIS

We have compiled the SWOT analysis for

Our first strength will be the Business model we intend on operating with(physical store and online store) that will be opened for 24 hours, Seven days a week. Also, Our location and our excellent customer service knowledge will count as a great strength for us.

Our observed weakness is the fact we are a new pharmacy and we may not have the required finance to sustain the kind of publicity that the business requires to scale up.

Opportunities :

The opportunities that are open to the retail pharmacy business is limitless and we are going to build our business to make the best out of the opportunities that will be available to us in Ilorin.

Just like any other business, one of the major threats that we are likely going to face is the economic downturn. It is a fact that an economic downturn affects purchasing/spending power. Another threat that may likely confront us is the arrival of a new retail pharmacy store in the same neighborhood where our target market exists.

 7.0. Our Target Market

Ara Pharmacy Store is in the retail pharmacy business to service a wide range of customers in and around Ilorin. Our staff is trained to effectively service our customers and still play by the rules governing the industry. The fact that we are going to open our doors to a wide range of customers does not stop us from demanding and screening prescriptions as required by the law. Our customers can be classified into the following;

Corporate Exec

Business People

Aging people

Expecting Mothers

Sports Men and Women

8.0. Sources of Income

Our major source of income will be retailing of prescription drugs and over-the-counter drugs. Ara Pharmacy will also generate income from the sale of other products such as beauty goods, cosmetics, greeting cards, luxury foods et al.

How To Download Pharmacy Company Business Plan PDF and Doc (With financial analysis)

Pay the sum of N8000  ( Eight thousand naira only)  to the account detail below: Bank: GTBank Name: Oyewole Abidemi (I am putting my name and not our company account so you know I am real and you can trust me, and trace me) Ac/No: 0238933625 Type: Saving

P.S: We can also tailor  the pharmaceutical company business plan to your name,  business size, capital requirements, and more to fit your direct needs. Call or message +234 701 754 2853 for inquiries.

Thereafter, send us your email address through text message to  +234 701 754 2853.  The text must contain the title of the business plan you want and also your email address. Immediately after the confirmation of your payment, we will send the pharmacy plan sample to your email address where you can easily download it.

Dr. Abi Demi is a skilled technical writer and author with specialties in the martech and fintech space. Featured on Tekedia, Coin Review, Business Insider, Fintechna, Cryptocoin.news, Date 360 and several other sterling online publications, Demi is an astute technical writer that specializes in finance, marketing and technology - with over 500 published pieces across the internet ecosystem. Contact Abi Demi - [email protected]

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Annual Pharmaceutical Sector Performance Report

The Annual Pharmaceutical Sector Performance Report provides us with a valuable picture of the progress made over the five years of implementing the National Pharmaceutical Sector Strategic Plan (2010/11–2014/15). The report is disseminated to all stakeholders within the health sector and discussed in a number of meetings from the Medicines Procurement Management Technical Working Group (MPMTWG) at the central level, Regional and District logistics meetings in order to guide decision making.

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PBMs Should Be Health Plan Fiduciaries, Employers Tell Congress

By Sara Hansard

Pharmacy benefit managers should be required to act as fiduciaries acting in the interest of health-plan beneficiaries in providing benefits and paying plan expenses, a House subcommittee was told at a Tuesday hearing.

Three PBMs— CVS Health , Optum RX , and Express Scripts —"have taken over the market share” for self-insured health plans, controlling the prescription drugs that are covered on health plan formularies and price rebates on those drugs, said Russell DuBose, vice president of human resources for Tuscaloosa, Ala.-based manufacturer Phifer Inc. DuBose was one of several speakers at the hearing before the health subcommittee of the ...

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