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Students Our Competitive Advantage The retail pharmacy industry is known to be highly competitive in the U. S and in most parts of the world. There are alternative provides like mail-order firms, grocery chains, mass merchants and dollar stores; these are the real competitors in the industry.
These competitors ensures that they do all that lies within their powers to gain favorable market share of the available market in any given region.
It is a fact that small retail pharmacy stores will always struggle with larger pharmacy chains when it comes to pricing power and brand recognition, which is why smaller retail pharmacy store always go out of their ways to deliver excellent customer service. It is through top notch customer service that they can secure a fair share of the available market.
Smaller retail pharmacies ensures that each order carries a printout. Retail pharmacy business plan ppt outline printout accompany the medications providing directions on how patient are expected to take the medications, other drugs that should be avoided concurrently, and other useful information.
Kingsley Greeno Retail Pharmacy Store is coming into the market well prepared to favorably compete in the industry. Our pharmacy is well positioned and visible, we have enough parking space with good security. Our management staff are well groomed in retail pharmacy and all our employees are trained to provide customized customer service to all our clients.
We are going to be one of the few retail pharmacies in Baltimore that will be opened 24 hours a week and 7 days a week.
We have enough staff that are ready to run a shift system. Kingsley Greeno Retail Pharmacy we will ensure that we have a wide range of products prescription drugs and over-the-counter drugs.
We will also be involved in the sale of beauty products, cosmetic, postcards greeting cardsconvenience foods and other related products available in our store at all times. It will be difficult for customers to visit our store and not see the product that they are looking for.
One of our business goals is to make our pharmacy a one stop pharmacy shop.
Kingsley Greeno Retail Pharmacy will also generate income from the sale of beauty products, cosmetic, postcards greeting cardsconvenience foods and other related products.
Sales Forecast It is important to state that our sales forecast is based on the data gathered during our feasibility studies, market survey and also some of the assumptions readily available on the field.
Below are the sales projections that we were able to come up with for the first three years of operations; First Year-: Please note that the above projection might be lower and at the same time it might be higher.
In order to achieve that, we will ensure that we offer medications at lower prices, compared to what is obtainable in Baltimore.
We will also ensure that we have a wide range of drug supplies in stock for both quick shipment and store front pick up.
All our employees will be well trained and equipped to provide excellent and knowledgeable customer service. Before choosing a location for our pharmacy store, we conducted a thorough market survey and feasibility studies in order for us to be able to be able to penetrate the available market and become the preferred choice for residence of Baltimore, MD.
We have detailed information and data that we were able to utilize to structure our business to attract the numbers of customers we want to attract per time.
We hired experts who have good understanding of the retail industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in Baltimore, Maryland. In summary, Kingsley Greeno Retail Pharmacy Store will adopt the following sales and marketing approach to win customers over; Introduce our business by sending introductory letters to residence, business owners and organizations Advertise our business in community based newspapers, local TV and radio stations List our business on yellow pages ads Leverage on the internet to promote our business Direct marketing Word of mouth marketing referrals Enter into business partnership with hospitals, health care provider and health insurance companies.
We are going to explore all available conventional and non — conventional means to promote our retail business. Kingsley Greeno Retail Pharmacy Store has a long term plan of opening outlets in various locations all around Maryland which is why we will deliberately build our brand to be well accepted in Baltimore before venturing out.
As a matter of fact, our publicity and advertising strategy is not solely for winning customers over but to effectively communicate our brand to the general public.The Discount Pharmacy pharmacy business plan executive summary.
The Discount Pharmacy is a retail store front/mail order purveyor of prescription medications, offering reduced prices to self-pay, cash-only customers/5().
Do you want to start a pharmacy store online from scratch? Or you need a sample pharmacy business plan template? If YES, then i advice you read on. Retail Pharmacy Business Plan Template – Executive Summary Kingsley Greeno Retail Pharmacy Store will be located in one of the busiest streets in Baltimore, Maryland, U.S.
We have been able to lease a facility for 5 years with the option of acquiring the property once the property is put up for sale. The pharmacy business plan template is fully geared towards the pharmacy retail business. Easily add project plans, phasing diagrams, floor plans, specific plans and more as is needed.
Easily insert financial data from the financial application. Apr 29, · If you want to start a pharmacy business, we are ready to help you with writing a pharmacy business plan.
Sample and template are available.
Since , OGScapital has been producing top-quality business plans from offices in the USA, the UK, and Canada/5(3). The Discount Pharmacy pharmacy business plan executive summary. The Discount Pharmacy is a retail store front/mail order purveyor of prescription medications, offering reduced prices to self-pay, cash-only customers.