Pharmacy Business Plan

Utibe Pharmacy is a start-up retail pharmacy outlet based in Egbeda, Lagos. Our intention of starting a retail pharmacy outlet is to provide a full range of pharmaceutical care for chronic & infectious diseases, acute illnesses, etc. through patient counseling, health education, the supply of quality medicines by trained professionals in an ambient environment of chain retail pharmacies nationwide.

Utibe Pharmacy will provide a full range of pharmaceutical care for the management of different disease types ranging from chronic to acute diseases and illness. Our services include: retailing of prescription drugs, over-the-counter drugs, prescription checking and filling, patient's counselling, the supply of medicine and diagnostic equipment, pharmaceutical care of chronic illnesses as well as infectious diseases, training and consultancy services on health and wellness for organisations and religious groups, public health awareness campaign, sourcing and supply of specialties medicinal products, adequate Referrer services We do all these through our trained pharmacists and other healthcare professionals in an ambient environment with a touch of excellence.

Intend to stand out from other pharmacies by following on customers with severe illness, and disease to ensure that the medications they are taking are having a positive effect and also walk them through supplements from the start of medication to the remission of the illness all for them to be healthy. At Utibe Pharmacy our motto is Reliability, Responsiveness, and Responsibility.

Aside from pharmaceutical products we will also check out other products that align with our chosen field to increase our customer base, these include the sale of beauty products, cosmetics, postcards (greeting cards), convenience foods, and other related products.

Our store will offer both older 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. As the price of medication continues to skyrocket, Utibe Pharmacy will appeal more and more to the customer’s sense of value and convenience.

We’ll make ourselves well known through various platforms as we plan to get personnel’s that will go into the various neighbourhood to tell them of our products and services, we will also employ the use of billboards and other forms of advertising. Our advertisement will be targeted at those who are looking to save money on a pricey but necessary and regular expense.

Table of Contents

i.  Overview3

1.0 Executive Summary3

1.1 Benefits4

1.2 Objectives4

1.3 Vision5

1.4 Mission5

1.5 Key to Success5

1.6 Core Values5

1.7 Guiding Principles6

2.0 Company Summary6

2.1 Company Ownership6

2.2 Location and Facility6

2.3 The Value Proposition6

2.4 Start-Up Summary7

Table: Start-up Funding8

3.0 Service Description8

3.1 Future Services9

4.0 Market Analysis9

4.0.1 Market Summary9

4.0.2 Market Trend9

4.0.3 Marketing Plan9

4.1 Target Market10

4.2 Industry Analysis10

4.3 Challenges Facing the Pharmacy Industry11

4.4 SWOT Analysis11

4.4.1 Strengths11

4.4.2 Weakness12

4.4.3 Opportunities12

4.4.4 Threats12

4.5 External Environmental Analysis12

4.6 Competition and Buying Patterns12

4.7 Marketing Strategy12

4.8 Publicity and Advertising Strategy13

4.9 Sales Forecast14

5.0 Strategy and Implementation Summary16

5.1 Operations Plan16

5.2 Competitive Edge17

6.0 Management Summary18

6.1 Management Team18

6.2 Personnel Plan22

Table: Payroll Year 122

Table: Payroll Year 1-322

7.0 Financial Plan22

7.1 Breakeven Analysis22

7.2 Projected Profit and Loss23

7.3 Projected Cash Flow25

7.4 Projected Balance Sheet26