The Pharmacy Business Plan / Feasibility Study in Nigeria Can Also Be Used For Bank Loans, Grants Etc.
- Pharmacy Business Plan In Nigeria
XYZ Pharmacy is a new pharmacy store involved in 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.
XYZ Pharmacy is established as a limited liability company owned by Mayowa Coker, John Richard, and other investors. The pharmacy store is managed and directed by Mayowa Coker, a veteran in the Pharmacy industry with 8 years’ experience and John Richard, an experienced Pharmacist with over 15 years’ experience. We are located in Ikeja, Lagos state.
Products and Services
XYZ Pharmacy offers a wide range of prescription drugs to patients based in Lagos and its neighbouring state. Both generics and name brands are offered.
In order for a customer to purchase medications mail order, they must first contact XYZ Pharmacy over the phone. The customer then needs to mail in the prescription. Once it is received and payment arrangements are complete, the medicines will be sent out to the customer via our delivery system. Local customers may stop by the store front to pick up the medications.
XYZ Pharmacy’s target market consists of two different groups, local customers or walk-ins, and mail order customers. XYZ Pharmacy will employ two different strategies namely discount price and membership registration to reach these two diverse market segments.
Competitors for XYZ pharmacy are Alpha Pharmacy, Bolar Pharmaceuticals, Nett Pharmacy, etc.
XYZ Pharmacy’s competitive edge includes discount prices for high quality products, excellent customer service, the expertise of its founders, etc
XYZ Pharmacy seeks N5 million in long-term financing to cover start-up costs, equipment, building expenses, and working capital.
Funding for the launch of the business is provided primarily by equity from the partners and investors.
The business will reach positive cash flow in its 10th month of operation, allowing for expedited repayment of its loan obligations, as well as for dividends to be paid to the owners. Revenue will top N14,500,000 and profit will reach about N3,843,950 in the 1st year of operation.
INTRODUCTION (Pharmacy store feasibility studies)
Starting a pharmacy medicine store in Nigeria is a lucrative retail business to do in Nigeria considering its wide potentials and possibility of turning it into a chain retail pharmacy business.
Professionally, pharmacy is the branch of medicine entailing all aspects of pharmaceutics, chemistry of the pharmaceutical nature, phytochemistry, pharmacology and forensics which is the science of physical evidence, these are all medical terms though. In practice, a pharmacy is simply a drug dispensary or a place where prescribed drugs could be purchased or collected.
Pharmacies are very relevant to life and to the society in general in the sense that without them, there would be no availability of drugs to save lives and aid health because I’m very well aware and informed that in some French countries like Togo and Benin Republic, Hospitals usually do not handle drugs, they offer prescriptions which should be bought at the Pharmacy. In some cases, some pharmacists do not sell drugs to individuals unless you present a doctor’s prescription handy and this just how it is meant to be with the aim of keeping drug abuse by self-medication or self-prescription to the least minimum.
In Nigeria, pharmacies are regulated by the Pharmaceutical Council of
Nigeria PCN and our goal with this business plan is to run a
legitimate pharmacy in Nigeria with the requirements of this overseeing
XYZ Pharmacy is a start-up firm involved in the distribution of prescription drugs to patients based in Lagos and its neighbouring state. We are located in Ikeja, Lagos state.
WHAT YOU JUST READ IS A VERY LITTLE PART OF OUR PHARMACY BUSINESS PLAN.
- TO GET THE COMPLETE PHARMACY BUSINESS PLAN IN NIGERIA / FEASIBILITY REPORT. Pay N10,000 to
GTBank (Guaranty Trust Bank)
Account Name – Chudi-Oji Chukwuka
Account No – 0044157183
After payment text your name, your e-mail address and bank teller number to 08060565721 and you’ll receive your PHARMACY BUSINESS PLAN / FEASIBILITY STUDY PROPOSAL.