Pharmacy Business Proposal Template

XYZ Pharmacy Proposal

XYZ pharmacy will provide convenience and extraordinary service and medication to the customers. My team of highly qualified pharmacists will provide expert pharmaceutical care to our community, at competitive prices. XYZ pharmacy will full fill all the international standards of professional ethics and services. XYZ pharmacy will be located on Main Boulevard, in block E. There is a 4,000 square foot shop available for rent. Nearby are a few clinics and a children’s hospital. I think the location is ideal for a pharmacy.

Products

A large variety of prescription drugs, personal care products, and herbal medicines will be available at the pharmacy:
  • Medicine and treatment
  • Health and wellness
  • Baby and Mom care
  • Beauty care
  • Vitamins and Supplements
  • Herbal products
  • Snacks

Services

The qualified staff at the pharmacy will be side by side in providing consultancy and assisting the customers in every step.
  • Consultancy
  • Home delivery
  • Immunization
  • Medication Therapy Management

Business Summary

Timing: Sunday -Saturday: 7 am -12 am Location: Main Boulevard, Charlottesville Items sold: Pharmaceuticals, snack food items Workers: 2 workers will be hired for services
  • Salesman/Pharmacist
  • Cashier

Problem Statement

The already existing pharmacies in the region are very few and the products they are selling are at very high prices. Moreover, most common products are usually out-of-stock because of the high demand.

Objective

My main objective is to launch a sustainable and supportive pharmacy business that grows by retailing better and authentic pharmaceutical products to clients. Also,
  • Expand our activities in the field of medicine, pharmaceutical care, cosmetics, and childcare.
  • Open more branches by the end of the 4th year of business.

Target Market

People living in the community often buy medicine monthly. Some of the payments are made through insurance and some pay from personal accounts. Our target audience is Children 0-12 years Mothers 20-40 years Market Analysis: I have mapped out the locations of the competitive pharmacies in the community and the finalized location for XYZ pharmacy is ideal. The idea is to develop and maintain relationships with local consumers by providing extraordinary services to lure them away from big pharmaceutical brands. The main focus will be the customer’s needs. Competitive Analysis: The neighborhood I have chosen is a low-income neighborhood and according to a conducted survey, the people are not happy with the high-brand pharmacy branch in the community, because of high prices and the required affordable items being out-of-stock.

Marketing

My team plans to advertise in all mediums. We will use social media platforms to advertise our pharmacy and to create a buzz about it. Also, we will be putting out pamphlets in nearby clinics and hospitals. We will print advertisements in all community-based newspapers and magazines. Also, we will place ad banners on the internet to raise brand awareness.
  1. Website: Create a website about the XYZ pharmacy. Mention all the services we offer and the products that will be available at the store. We will also mention all the running promotions.
  2. Sent SMS about our promotions and offers.
  3. Social media pages: Create social media pages and advertise the pharmacy.
  4. Newspaper: Print ads in all the local community newspapers in Virginia.

Startup Summary

  • Legal paperwork will be done, which includes getting approval from the concerned authorities, obtaining licenses, permits and opening a bank account.
  • Installation of front desk and counter.
  • Purchase assorted bottles and containers.
  • Purchase equipment including small furniture, product shelves, storage area, electronic devices, CCTV cameras, etc.

Start-up Cost

I would like your company to initially invest $200,000, for the start-up cost and the running costs, for the first 2 years. Estimated start-up expense details are provided below:
                      Names Cost
Legal paperwork $1,000
Marketing $1,000
Land rental (1-year advance) $5,000
Insurance $5,000
Medicine and health care products $100,000
Snacking items + Drinks $22,000
Utilities $3,000
Equipment $10,000
Inventory $40,000
Cash $5,000
Miscellaneous $1,000
Total $193,000

Running Cost

Expenses for each month will be the following:
                      Names Cost/month Total Cost /year
Employee Salary $500 $1,000 $12,000
Utility Bills $500 $500 $6,000
Miscellaneous $500 $500 $6,000
Total $1,500 $2,000 $24,000

Sales Forecasts

This pharmacy will surely attract a large number of customers because of its affordability and convenience. I am very optimistic and certain that we will break even within the first couple of years and start generating a profit by the end of the third year. Below is the sales forecast for the first fiscal year, based on information collected in the field.
Items Forecast Sales
Medicine $50,000
Personal care $50,000
General items $10,000
First 6 months: $110,000 First fiscal year: $210,000 Second fiscal year: $380,000

Business Ownership

I will be the sole owner of the pharmacy.

Staff

I will be hiring a qualified and hardworking pharmacist who will also be serving as a salesperson for the pharmacy. His job will be to provide assistance to the customers and maintain the store. It will be his duty to keep the store shelves organized. Also, I will hire a cashier to maintain the records.

Future Plans

  • I would like to open more branches of XYZ pharmacy in Virginia.
  • I want to make XYZ an online store so people would be able to order items online and get them delivered at their doorstep.

Approval

I would like to seek your approval to proceed with the necessary arrangements related to the opening of the pharmacy. After the approval, I will inform the relevant departments to start the process and then we can work on the Terms and Conditions for future references.

Assurances

  • Profit-sharing arrangements between the parties will be made after the proposal has been accepted by ABC.
  • I will ensure that all the aspects mentioned in the proposal about running the business are reinforced.
  • I, personally, will be responsible for the formal training of the employee hired at the pharmacy.
  • Insurance will be provided to all the employees working at the pharmacy.
  • The pharmacy will also be insured.

Pharmacy Business Proposal Template

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