Nothing is as important as good health, without good health all of the basic thing in life will not mean anything. Health is the most important thing in life and that is why pharmacy business is one of the most lucrative businesses in the world.
To start a pharmacy business in Nigeria, there are important things that you must know if you will succeed in this business.
Do you want to start a lucrative and highly profitable pharmacy business in Nigeria, if yes here a comprehensive pharmacy business plan in Nigeria which you can used for Grant Applications, accessing bank loans, pharmacy business Proposal writing, etc. This Pharmacy business plan is well researched and this feasibility study on pharmacy business plan has been recently updated.
Starting a pharmacy business in Nigeria can be very lucrative, but there are important aspect of the business you need to know, hence the need to get a pharmacy business plan if you will succeed in this business.
Pharmacy Feasibility Study
Pharmacy is the science and technique of preparing and dispensing drugs. It is a health profession that links health sciences with chemical sciences and aims to ensure the safe and effective use of pharmaceutical drugs
Business: Pharmacy Outlets
Industry: Pharmaceutical / Health Care
Beside the basic necessities of man which is food and shelter, good health is the paramount need of every human being.
Without being healthy you can not enjoy life to the fullest and it is for this reason that everyone strive to stay healthy and there by making pharmacy business a very important one not just for how profitable the pharmacy business can be but also to provide basic health care to your doorstep.
Its a general understanding that poor health and unhygienic living lifestyle among Nigerians directly mean that people will have to spend more on drugs to stay healthy, also a lack of healthy diet and food consumption coupled by our nonchalant attitude of individuals to their general health has made it easy for many Nigerians to suffer from constant ailment especially malaria. Nigeria’s population today are well over one two hundred million (200,000,000) people and we still do not have a healthy care system that is working that can go round these vast number of people in the country, this has resulted to the major patronage of pharmacy stores, chemist shops and other local drug vendors.
If you are thinking about starting out a pharmacy in Nigeria, it is important to do a swot analysis because there are some few things that must be considered to ensure a successful and hitch free business
1. Do An In Depth Market research
Doing a market research is a bit different from the pharmacy business plan in Nigeria as this process is about basically doing due diligence of the pharmacy business, getting to know the regulatory requirements and the kind of drugs that are allowed in the market also the price of renting a store space, Warehouse, Chairs, file cabinets, and desks, front counter, storage bins, cash register, computer terminals, a laser printer, and back-up system, drug interaction software, Telecom system, Storefront build-out, Start-up inventory, Rent, utilities, insurance, etc.
Get a Pharmacy Business Plan in Nigeria
As the saying goes if you fail to plan then you plan fail, statistics has shown that many startup business ventures tend to fail within the first five years of its inception therefore the need for getting a business plan can not be understated as this feasibility studies will help you not to make mistakes that might be very costly to your pharmacy business
Hurry now, don’t miss this opportunity.
To place an order for Pharmacy Business Plan & Feasibility Study, pay N10,000 to
GTBANK (Guaranty Trust Bank)
Account Name – Uwadia Eyemeka
Account No – 0127561472
After you have made payment for your Pharmacy Business Plan PDF/Doc send your email and payment details to 07036785443. Once your payment has been verified it will be sent to your email.
Get Certified As Registered Pharmacist.
Its a standard practice that only a Pharmacist are allowed to own Pharmacy store in Nigeria so before going into this business you must have a pharmacist certification to at least a B.Sc. level in any Nigerian accredited universities. For those that didn’t study pharmacy but are still willing to go into such business they will still need a Superintendent Pharmacist to register the business with the Pharmaceutical Council of Nigeria (PCN) to ensure the smooth legal running of the business.
Another thing to do is to make research to know everything that’s happening in the drug market. The regulatory bodies what you are allowed to do and how the market should be run in the country. This is like knowing all the rules put together by the NAFDAC so you can be a qualified pharmacy operator.
Every and any business that must stand the test of time and standout must surely have a unique name, logo, slogan, etc. What is your brand name and how do you standout from the rest. This can be secured by getting your business registered with the appropriate body (CAC) without this been done you can be assured of been put out of business within a short time. You can do this yourself by going to any branch of the Corporate Affairs Commission or contact your lawyer to get your business registered and also register with PCN (pharmaceutical Council of Nigeria).
Business Location
This is another factor that a lot of business owners do not put into consideration before starting a business which is also one of the major reason why they don’t make as much profit as they anticipated which will lead to moving the business within a short time or ultimately closure. You have to ask yourself these question. Who? Why? When? What? They will determine where you want to situate your business but I recommend close to a hospital or clinic which in most cases don’t have all the drugs they prescribe to individuals or a public place. This business location also will be inspected by regulatory bodies before you can be open to the public for business.
Employment of Staff (man power)
Employment of qualified and competent staff is also important. Make sure these people have the required certifications to be employed there. Don’t under employ and don’t over employ. Just get the hands that are needed for the effective running of this venture especially at the initial stage where it is necessary to plug any leak where excess cash will be going out. Take note that if you are not a pharmacist you will need to employ a superintendent pharmacist
Get adequate training (additional knowledge is good)
Whether you are a qualified pharmacist or not the search for knowledge is always important and is never ending. Always seek training and added knowledge for you and your staff, it will in the long run give your business the boost.
Draw up a list of drug/pharmaceutical companies that you want to get your stocks from
Make sure you seek out quality drug manufacturers and suppliers you don’t want to pull into a laws suit because you supplied or sold a fake drug. Make sure you sell and distribute quality products for the safety of the public and continuous running of your venture. NAFDAC approved drugs should be considered alone to avoid any unwanted attention.
Publicity and Advertisement Plan
After the start of your business you must do some form or publicity and advert. You can go for less expensive adverts like social media which can also reach a wide range of people out there. Looking for other avenues to advertise your business is good, don’t depend just on word of mouth or referral kind of advertisement. Go all out to ensure that you put yourself out there and make the public aware that you can give them the best when it comes to goods and services
TABLE OF CONTENT
Executive Summary
Introduction
Business Description
Products and services
Competitive Advantage
Market Research
Competitor Analysis
Sales and Marketing Plan
Operational Plan
Business Risk
Management and Structure
Financial Plan and Projections.
For the full course/ show to start up Pharmacy in Nigeria which contains the detailed financial analysis, etc.
Get your Pharmacy Business Plan in Nigeria PDF. To place an order, pay N10,000 to
GTBank (Guaranty Trust Bank)
Account Name – Uwadia Eyemeka
Account No – 0127561472
After payment text your name, send a text of your e-mail address to 07036785443 and you’ll receive it in your email
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