Find an attorney who understands the independent retail pharmacy business, or at least small retail businesses. The financial sales forecasting tool is very intuitive and makes writing a business plan more fun. This will get you in the right legal direction, as you will need to know all the legalities this business entails. Get to know pharmaceutical companies and decide how you will stock your product.
Enter some main assumptions, and start entering your financial data into the clearly marked cells. Easily add project plans, phasing diagrams, floor plans, specific plans and more as is needed. We recommend using LivePlan as the easiest way to create automatic financials for your own business plan. Costs can be split between fixed and variable cost for contribution, break-even and similar analyses. The Discount Pharmacy is located in Portland, OR and offers prescription medications at discount prices to our customers by mail order or at the store front. You need a well thought-out and detailed business plan, legal and financial advice and consistent marketing. 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. We recommend using LivePlan as the easiest way to create graphs for your own business plan. But if you’ve just graduated or worked in a hospital setting, experience working in a retail pharmacy and advice from pharmacy mentors will be crucial. We expect to reach profitability by our second year and will generate substantial sales by year three.
PlanMagic Retail offers you an easy to use well written pharmacy business plan template in MS Word, a fully automated close-to-reality retail financial projection application in MS Excel, an award-winning investor pitch deck, a PowerPoint presentation template and a retail business plan guide. Our checklist for starting a pharmacy gives you an overview of the process, step by step. Go to sites that offer tips, talk to current pharmacy owners, and find organizations that help directly in this field. An attorney can guide you through this and then be on hand as your business takes off if you have further needs. Start your own business plan »Your business plan can look as polished and professional as this sample plan. If you’ve worked in an independent pharmacy or served as the pharmacist in charge for a chain, you will have a solid background for running your own pharmacy. Costs will be minimized by maintaining only one pharmacist and filling the void with pharmaceutical techs. 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. The Discount Pharmacy will operate from one store that will serve both mail order customers and those who visit in person. The pharmacy business plan template is fully geared towards the pharmacy retail business.
Our advertising, mainly through ads in magazines targeted at the over-55 crowd, will be targeted at those who are looking to save money on a pricey but necessary and regular expense. Please note that these items will be used for more than one year and will therefore be labeled long-term assets, depreciated using G. Trend setting retail financial application written in MS Excel that has no competition when it comes to close-to-reality fully automated projections.
With a small, independent pharmacy business, the pharmacists can get to know their clients, and the clients can feel a bit more confident that they are being taken care of. If you’re eager to open your own independent community pharmacy, starting one from scratch can be faster and less expensive than buying an existing pharmacy. Multiple currency – The financials can use any currency, and you can use the exchange rate multiplier. The Discount Pharmacy will incur the following start-up equipment costs: Office equipment including chairs, file cabinets, and desks. When starting any small business, most individuals will need to take out a business loan. 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. Many people are tired of the chain pharmacies and want more of a personal feeling.
Although it’s a complex process, McKesson’s RxOwnership® team regularly shepherds pharmacy owners through with free advice and resources.