The Discount Pharmacy Business Plan

November 10, 2018 | Author: Humphrey Hessel-Appiah | Category: Pharmacy, Discounts And Allowances, Pharmaceutical Drug, Value Added Tax, Balance Sheet
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This is a sample Business Plan from Bplans - Discount Pharmacy Business Plan...

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Thanks for downloading a sample plan from Bplans.com A sample plan is a great way to get started, but you can’t just print this plan out and turn it into the bank. You’re still going to have to put in all your own information and do all of your own financial forecasts. With Livelan, you can easily use this sample as inspiration and create your own plan, complete with financial tables and graphs. You’ll You’ll also be able to! " " " "

#ave time #ave time with with link linke ed fina financ ncia iall tabl tables es $the $the for formu mula las s are are buil builtt in, in, so you don’t have to do the calculations%& 'ene 'enefi fitt fro from m ton tons s of of he help, lp, adv advic ice e, and and reso resour urce ces. s. res resen entt you yourr pla plan n wit with h con confi fide denc nce, e, with with auto automa mati tic c cha chart rts s and and graphs corresponding to your financial data. Work on yo your plan lan any anyw where here,, o on n any any co comp mput ute er.

 ()or *+ dollars  ended up getting a -uarter of a million dollars of funding. fundi ng. hat’s worth it%/ 0 odd 1. ablegate

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his sample business plan has been made available to users of Business Plan Pro4, business planning software published by alo Alto #oftware, nc. 5ames, locations and numbers may have been changed, and substantial portions of the original plan te6t may have been omitted to preserve confidentiality and proprietary information. You are welcome to use this plan as a starting point to c reate your own, but you do not have permission to resell, reproduce, publish, distribute or even copy this plan as it e6ists here. 7e-uests for reprints, academic use, and other dissemination of this sample plan should be emailed to the marketing department of alo Alto #oftware at marketing8paloalto.com. )or product information visit our Website! www.paloalto.com or call! 9:;++:**.

Copyright © Palo Alto Alto Software, Inc., 1!"#$$ All rights reser%ed.

Cover Page

his sample business plan has been made available to users of Business Plan Pro4, business planning software published by alo Alto #oftware, nc. 5ames, locations and numbers may have been changed, and substantial portions of the original plan te6t may have been omitted to preserve confidentiality and proprietary information. You are welcome to use this plan as a starting point to c reate your own, but you do not have permission to resell, reproduce, publish, distribute or even copy this plan as it e6ists here. 7e-uests for reprints, academic use, and other dissemination of this sample plan should be emailed to the marketing department of alo Alto #oftware at marketing8paloalto.com. )or product information visit our Website! www.paloalto.com or call! 9:;++:**.

Copyright © Palo Alto Alto Software, Inc., 1!"#$$ All rights reser%ed.

Legal age Confidentiality Agreement he undersigned reader acknowledges that the information provided by ??????????????? in this business plan is [email protected] therefore, reader a grees not to disclose it without the e6press written permission of ???????????????. t is acknowledged by reader that information to be furnished in this business plan is in all respects confidential in nature, other than information which is in the public domain through other means and that any disclosure or use of same by reader, may cause serious harm or damage to  ???????????????. pon re-uest, this document is to be immediately returned to ???????????????.  ??????????????????? #ignature  ??????????????????? 5ame $typed or printed&  ??????????????????? Bate

This is a business plan. It does not imply an offering of securities.

Table of Contents

9.+ C6ecutive #ummary.....................................................................................................................1 1hart! Dighlights...........................................................................................................................1 9.9 Ebjectives....................................................................................................................................1 9.* Fission...........................................................................................................................................2 9.G Heys to #uccess.........................................................................................................................2 *.+ 1ompany #ummary......................................................................................................................2 *.9 1ompany Ewnership................................................................................................................2 *.* #tart:up #ummary....................................................................................................................2 able! #tart:up...............................................................................................................................2 able! #tart:up )unding..............................................................................................................3 1hart! #tart:up..............................................................................................................................4 G.+ roducts............................................................................................................................................4 I.+ Farket Analysis #ummary .........................................................................................................5 I.9 Farket #egmentation..............................................................................................................5 able! Farket Analysis................................................................................................................5 1hart! Farket Analysis $ie&..................................................................................................... I.* arget Farket #egment #trategy........................................................................................ I.G 1ompetition and 'uying atterns....................................................................................... 2.+ #trategy and mplementation #ummary.............................................................................! 2.9 1ompetitive Cdge......................................................................................................................! 2.* Farketing #trategy...................................................................................................................! 2.G #ales #trategy............................................................................................................................! 2.G.9 #ales )orecast....................................................................................................................! able! #ales )orecast..............................................................................................................." 1hart! #ales Fonthly..............................................................................................................." 1hart! #ales by Year................................................................................................................#

Table of Contents

1hart! 1ash...................................................................................................................................15 able! 1ash )low.........................................................................................................................15 ;.I mportant Assumptions........................................................................................................1 able! Jeneral Assumptions...................................................................................................1 ;.2 rojected 'alance #heet......................................................................................................1! ;.2 rojected 'alance #heet......................................................................................................1! able! 'alance #heet.................................................................................................................1! ;.> 'usiness 7atios........................................................................................................................1" ;.> 'usiness 7atios........................................................................................................................1" able! 7atios.................................................................................................................................1" able! #ales )orecast...........................................................................................................................1 able! ersonnel....................................................................................................................................2 able! ersonnel....................................................................................................................................2 able! Jeneral Assumptions.............................................................................................................3 able! Jeneral Assumptions.............................................................................................................3 able! rofit and Loss..........................................................................................................................4 able! rofit and Loss..........................................................................................................................4 able! 1ash )low...................................................................................................................................5 able! 1ash )low...................................................................................................................................5 able! 'alance #heet...........................................................................................................................! able! 'alance #heet...........................................................................................................................!

The %iscount Pharmacy

9.+ C6ecutive #ummary he Biscount harmacyKs 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 pr escription medications themselves. 'y focusing on this segment it gives us additional efficiencies : we avoid disruptions in cash flow often associated with insurance payments and we can e liminate unnecessary services for the type of knowledgeable, repeat customer taking maintenance:type medication. he Biscount harmacy 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 e6pect that as the price of medication continues to skyrocket, he Biscount harmacy will appeal more and more to the customerKs sense of value and convenience. Eur advertising, mainly through ads in magaines targeted at the over:22 crowd, will be targeted at those who are looking to save money on a pricey but necessary and regular e6pense. he Biscount harmacy will be led by Mohn 7eeleaf, an F'A with e6perience in the pharmaceutical industry. 1osts will be minimied by maintaining only one pharmacist and filling the void with pharmaceutical techs. We e6pect to reach profitability by our second year and will generate substantial sales by year three.

1hart! Dighlights

The %iscount Pharmacy

9.9 Ebjectives he objectives for the first three years include! 9. C6ceed customer e6pectations with superior pricing *. ncrease the number of customers by more than G+3 per year G. Bevelop a business that survives off its own cash flow 9.* Fission he Biscount harmacyKs mission is to provide our customers with the best prices for their prescription medications. Eur convenience and services will e6ceed the e6pectations of our customers. 9.G Heys to #uccess he keys to success are! • • •

#atisfy our customers so they will return again and again Faintain low overhead and operating costs rovide better prices than all our c ompetitors

*.+ 1ompany #ummary he Biscount harmacy is located in ortland, E7 and offers prescription medications at discount prices to our customers by mail order or at the store front. *.9 1ompany Ewnership

The %iscount Pharmacy

lease note that these items will be used for more than one year and will therefore be labeled long:term assets, depreciated using J.A.A.. approved straight:line depreciation. able! #tart:up

Start-up

Requirements Start-up Expenses Legal Rent Utilities Telecom System nsurance Store"ront #uil-out Expense Equipment &e'site e(elopment Total Start-up Expenses

$1,000 $2,000 $400 $400 $!00 $1%,000 $4,000 $1,000 $24,100

Start-up )ssets *as+ Require Start-up n(entory t+er *urrent )ssets Long-term )ssets Total )ssets

$140,%00 $10,000 $0 $,%00 $1%.,000

Total Requirements

$1!,100

able! #tart:up )unding

Start-up Funding 

The %iscount Pharmacy

 )itional n(estment Requirement Total 3lanne n(estment

$!2,100 $1!,100

Loss at Start-up Start-up Expenses5 Total *apital

$24,1005 $1%.,000

Total *apital an Lia'ilities

$1%.,000

Total Funding

$1!,100

1hart! #tart:up

The %iscount Pharmacy

which hampers cash flow. he Biscount harmacy will als o save money by not paying for customerKs unlimited access to a pharmacist. f a customer has a -uestion regarding a drug, the pharmaceutical technician will attempt to answer it. As a last resort the pharmacist will provide the answer. Jenerally, the technician or the accompanying printed literature will answer the -uestion. his model of saving costs by not providing unlimited access to the pharmacist will be successful because the majority of customers will be customers who have been taking said drug for awhile, as opposed to a new prescription, and will not re-uire their hand to be held during the transaction. hey are interested in he harmacy as an ine6pensive source for their medication. With each order a printout will accompany the medications providing directions on how to take the medications, other drugs that should be avoided concurrently, and other useful information. he Biscount harmacy will be using c omputer print outs from industry software to reduce the cost of providing this information. 5ote::while the term Oself payO is typically ass ociated with the notion that the customer is paying for the medication out of pocket without insurance, it is used in this conte6t as the customer paying for the medications up front regar dless if they have insurance. hey may be paying out of pocket, or they may be paying up front and then submitting to their insurance companyKs drug plan to reimburse them later. I.+ Farket Analysis #ummary he Biscount harmacyKs target market consists of two different groups, local customers or walk:ins, and mail order customers. he Biscount harmacy will employ two different strategies to reach these two diverse market segments.

The %iscount Pharmacy

able! Farket Analysis

Market Analysis

 7ear 1 3otential *ustomers

8rot+

&al9-in customers =ai l orer customers

: .: ,!4% %%,222,2!2

!;!,%% %.,1%,21> >0,1,;;4

40!,44! >%,1.,%% >%,>02,02

4!%,;1 ;1,0>>,4% ;1,%02,1;>

4;0,%;% ;;,4>2,4!. ;;,.!!,014

;,4!2 $.>;,2>%

irect *ost o" Sales &al9-in customers =ail orer customers

7ear 1 $!,40 $.2,. $1;>,;2.

7ear 2 $1%.,.!! $22>,.;! $!>,.0>

Subtotal Direct Cost of Sales

1hart! #ales Fonthly

$4!1,!!4 $>40,%4! $1,0;1,;; 7ear ! $1;2,%!4 $2%>,21; $42,;%1

The %iscount Pharmacy

1hart! #ales by Year

2.I Filestones he Biscount harmacy will have several milestones early on! • • •

EfficeQbusiness set up. Cstablishment of the first strategic relationship. rofitability.

The %iscount Pharmacy

>.9 Bevelopment 7e-uirements he Biscount harmacy will hire a recent college graduate with a major in c omputer science to complete and maintain our simple website. his will keep costs down. =.+ Fanagement #ummary Mohn 7eeleaf has e6perience w orking with a major drug manufacturer, Cli Lilly, as a drug representative. De was able to see first hand the profitability associated with the pres cription drug industry, as well as the inefficiencies with which most companies are plagued. Mohn graduated with an F'A from the niversity of EregonKs innovative entrepreneurship program. While there he was awarded a R2+,+++ no interest loan through a business plan competition. hat seed money will be parlayed, along with some other investments, into start up e6penses for he Biscount harmacy. Mohn received an undergraduate degree in chemistry from the niversity of Eregon. =.9 ersonnel lan he Biscount harmacy will employ the following people! •

• • • •

#ales agentsQphone representatives! two at month three, an additional person at month si6th. harmaceutical technicians! two at month two, a third at month si6. harmacists! month two. Erder fulfillment agents! two for month five, a third for month eight. 1ounter personQphone representative! one at month three.

able! ersonnel

The %iscount Pharmacy

;.9 'reak:even Analysis he 'reak:even Analysis calculates what will be needed in monthly revenue to reach the break: even point. able! 'reak:even Analysis

Break-even Analysis

=ont+ly Re(enue #rea9-e(en

$4,0

 )[email protected]  )(erage 3ercent Aaria'le *ost Estimated Monthly Fixed Cost

1hart! 'reak:even Analysis

40: $2.,2%

The %iscount Pharmacy

;.* rojected rofit and Loss he following table and charts present projected profit and loss.

1hart! rofit Fonthly

The %iscount Pharmacy

1hart! rofit Yearly

1hart! Jross Fargin Fonthly

The %iscount Pharmacy

1hart! Jross Fargin Yearly

able! rofit and Loss

Pro Forma Profit and Loss

 7ear 1 Sales irect *ost o" Sales t+er 3rouction Expenses Total *ost o" Sales

$441,22 $1;>,;2. $0 $1;>,;2.

7ear 2 $.>;,2>% $!>,.0> $0 $!>,.0>

7ear ! $1,0;1,;; $42,;%1 $0 $42,;%1

The %iscount Pharmacy

;.G rojected 1ash )low he following chart and table display the projected cash flow.

1hart! 1ash

able! 1ash )low

The %iscount Pharmacy

 )itional *as+ Spent Sales Tax, A)T, BST?8ST 3ai ut 3rincipal Repayment o" *urrent #orroing t+er Lia'ilities 3rincipal Repayment Long-term Lia'ilities 3rincipal Repayment 3urc+ase t+er *urrent )ssets 3urc+ase Long-term )ssets i(iens Su'total *as+ Spent

$0 $0 $0 $0 $0 $0 $0 $%12,;.;

$0 $0 $0 $0 $0 $0 $0 $;,02>

$0 $0 $0 $0 $0 $0 $0 $2,>4%

et *as+ /lo

$;0,.;%5 $>.,%2%

$0,2!. $14.,;>%

$1.,2!2 $!!,..;

Cash !alance

;.I mportant Assumptions he following table details important financial assumptions. able! Jeneral Assumptions

eneral Assumptions

3lan =ont+ *urrent nterest Rate Long-term nterest Rate Tax Rate "ther 

 7ear 1

7ear 2

7ear !

1 10

$,%00 $%,112 $!,! $!,!4>

 )ssets *urrent )ssets *as+ n(entory t+er *urrent )ssets Total *urrent )ssets Long-term )ssets Long-term )ssets  )ccumulate epreciation Total Long-term )ssets Total )ssets Lia'ilities an *apital

7ear 1

7ear 2

7ear !

 )ccounts 3aya'le *urrent #orroing t+er *urrent Lia'ilities Su'total *urrent Lia'ilities

$!2,44 $0 $0 $!2,44

$4;,>04 $0 $0 $4;,>04

$4%,142 $0 $0 $4%,142

Long-term Lia'ilities Total Lia'ilities

$0 $!2,44

$0 $4;,>04

$0 $4%,142

*urrent Lia'ilities

The %iscount Pharmacy

;.> 'usiness 7atios 'usiness ratios for the years of this plan are shown below. ndustry profile ratios based on the 5A1# code II>99+, harmacies and Brug #tores, are shown for comparison. able! 7atios

!atio Analysis

 7ear 1 Sales 8rot+

7ear 2

7ear !

nustry 3ro"ile

n
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