101 Questions for Pharmacy Business Plan


Business plan is one of the most important steps in starting a pharmacy. Banks and investors want to see a pharmacy business plan before they discuss financing. So, if you want to consult an advisor as you develop certain parts of your pharmacy business plan, we can help you make sure it’s detailed and realistic.

1. Have you decided the location?
2. Which one you’re looking for (Medical Shop / Pharmacy / Wholesale Outlet)?
3. What’s the Mission, Vision and Values of an organisation?
4. Analyse the demography of that area (Age & Gender).
5. Analyse the general health issues faced in that area.
6. How many competitors are there (in 3 kms radius)?
7. What are the services you offer?
8. Do you have door delivery?
9. Is there any partnership with the delivery channels?
10. What are the terms and conditions with them?
11. How many hospitals are there in that locality?
12. Which is the most visited hospital?
13. Analyse major health issues in that locality.
14. What is the management structure?
15. Have you registered the business?
16. How many employees are needed?
17. What’s their eligibility criteria?
18. Do they need any special certifications?
19. What are the trainings they should undergo?
20. Any tie-up with the hospitals?
21. How’s the medicine supply works?
22. Who’s your distributor?
23. What are the terms and conditions with the distributors?
24. What is the size of the pharmacy?
25. What’s the range of the medicines?
26. Any special discounts available?
27. You’ve any Standard Operating Procedure (SOP) available for the employees?
28. What are the free services provided?
29. Any testing facilities available?
30. Do you’ve any tie-up with the testing laboratories?
31. What are the utilities needed?
32. How the medicines will be sorted?
33. Any special methodology followed?
34. How the interior will be looking like?
35. How the exterior will be looking like?
36. Do you have any Over-the-Counter facility?
37. Any special facility for the physically challenged?
38. Do you follow any pharmacopoeia standards?
39. Do you have different counters for prescribed and non-prescribed medicines?
40. What’s the plan-o-gram for the store?
41. Do you have cold storage facility?
42. What’s the maximum amount of medicines stored in cold stored?
43. You’ve any Standard Operating Procedure (SOP) available for the maintenance team?
44. How often the floors must be cleaned?
45. Any special cleaning methodology?
46. How often the amount must be deposited?
47. You’ve any Standard Operating Procedure (SOP) available for the account’s executive?
48. Have you bought the fire license?
49. What are the other regulatory issues?
50. Is the shop insured?
51. Is the shop fully Air-Conditioned?
52. You’ve any Standard Operating Procedure (SOP) available for the Procurement team?
53. Have you calculated the operating costs?
54. What’s the marketing strategies?
55. Which is the billing software?
56. Is it your own space?
57. How much is the rent?
58. Any genset facility available?
59. What’s the procedure for disposing wastes?
60. What’s the procedure for expired medicines?
61. How many counters are there?
62. Where the bins must be placed?
63. What’s the mode of payment for the customers?
64. What’s the mode of payment for the distributors?
65. How much inventory is needed?
66. How often the inventory needs to be calculated?
67. You’ve any Standard Operating Procedure (SOP) available for the inventory auditing?
68. What’s the operational time?
69. What are the different modes of order placement?
70. What’s the sales strategy?
71. What’s the employee salary structure?
72. How long will it take to reach break-even point?
73. What are the risks?
74. How to mitigate that risk?
75. What are the lists of other products you sell?
76. What are the revenue streams?
77. What’s the cost structure?
78. Which is your key resource?
79. Which is your key activity?
80. What’s your unique value proposition?
81. What are the office supplies needed?
82. What is your packing methodology?
83. Do you recommend any medicines without prescriptions?
84. Do you provide any first aid services?
85. Do you sell medicines through online?
86. What are the other facilities needed?
87. You’ve any Standard Operating Procedure (SOP) available for the legal department?
88. Do you have the proof of ownership of the premises?
89. Do you have a site plan?
90. Do you have a proof of document for obtaining drug license?
91. You have any connection with the local doctors?
92. Any credit-based purchases available?
93. Are you done with the declaration form?
94. Proof of constitution of the company(Incorporation Certificate / MOA / AOA / Partnership Deed)
95. Who’s responsible for management decisions?
96. Are you from a pharma background?
97. Have you hired a pharmacist?
98. Have you decided your initial investment?
99. Have you analysed your financial projections?
100. Have you got license from Drug Control Authority?
101. Any special services for senior-citizens?

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Written by Venkadesh Narayanan

Venkadesh is a Mechanical Engineer and an MBA with 30 years of experience in the domains of supply chain management, business analysis, new product development, business plan and standard operating procedures. He is currently working as Principal Consultant at Fhyzics Business Consultants. He is also serving as President, PDMA-India (an Indian affiliate of PDMA, USA) and Recognised Instructor of APICS, USA and CIPS, UK. He is a former member of Indian Civil Services (IRAS). Fhyzics offers consulting, certification, and executive development programs in the domains of supply chain management, business analysis and new product development.

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