University of Mindanao

________________________________________________

In Partial Fulfillment of the Requirements of the Subject

GE11 – Entrepreneurial Mind

First Term, Second Semester S.Y. 2022-2023

1:30 – 2:30 PM

FIRST AID PHARMACY

Presented To:

Prof. Maria Teresa S. Bulao

Presented By:

Group 9

Group Members:

Kristel Kaye C. Malacad

Edriane P. Decatoria

Cyrus Jed M. Maligang

Angeneth Vanne Q. Ranga

Melchie I. Tomanggong

Vincent Ihalas
TABLE OF CONTENTS

I. DESCRIPTION OF PROPOSED BUSINESS…………………………………3

II. TARGET MARKET………………………………………………………………9

III. COMPETITORS……………………………………………………………….11

IV. MARKETING STRATEGIES………………………………………………….12

V. LOCATION………………………………………………………………………19

VII. MANAGEMENT……………………………………………………………….20

VIII. COST OF PRODUCTION……………………………………………………23

IX. ACTION PLAN…………………………………………………………………25

REFERENCES

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I. DESCRIPTION OF PROPOSED BUSINESS

Pharmacies are the first point of contact for many people to pick up
prescriptions and hope to find a health solution without a doctor's visit conveniently.
The role of the community pharmacy is to improve the community's health by
counseling patients on effective medicines use. However, in today's world, this has
become deprioritized, either because the patients need to be more relaxed to
understand their health needs, the pharmacist focuses more on managerial tasks, or
being too profit-driven instead of servicing the community. First aid pharmacy provides
an innovative service that goes back to basics - but with a twist! We introduce the "First
Aid Pharmacy," which allows us to build trusting relationships with the members of our
community. We spend more time with individual patients to make an active difference
in their lives. Our pharmacists are accredited as medical herbalists and nutritionists,
which in conjunction with extensive knowledge in effective medication use and
management, improves our patients' well-being.

First aid Pharmacy will provide all the products and services available at large
retail chains, with a better price and a small-town atmosphere. At the pharmacy, sales
associates and pharmacy technicians will get to know each customer by name and be
able to offer a more personalized service not typically offered at larger pharmacies.
First aid Pharmacy will be a one-stop shop for any customer needing a prescription,
flu shot, OTC medication, and more.

Business Name

We have come up with the name “First Aid Pharmacy” because we believe that
our company has the ability to make an enormously beneficial effect, from offering
reassurance to saving a life. We have a variety of distinct and quite essential
responsibilities. Additionally, our business offers a range of first aid abilities that we
feel are important to have in order to deal with circumstances in the best way possible.
Furthermore, our employees have undergone adequate experience for the
circumstances. They are reasonably knowledgeable in all aspects of our business.

At First Aid Pharmacy, we believe that everyone deserves access to reliable and
trustworthy healthcare solutions. Our goal is to provide high-quality medical care that
is easily accessible and readily available to the communities we serve. We chose the
name "First Aid Pharmacy" because it embodies our mission to provide effective and
immediate support to our customers, whether it be through emergency first aid or
ongoing healthcare services.

The term "first aid" is often associated with emergency medical care. Our pharmacy
wants to convey that we are prepared to respond to any medical situation with prompt
and professional care. Using "First Aid Pharmacy," we hope to communicate to our

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customers that we are a reliable and trusted source for emergency medical assistance
and ongoing healthcare services.

A name should be more than just a word - it should embody the values and goals of
the business it represents. With "First Aid Pharmacy", we have chosen a name that
reflects our commitment to providing high-quality medical care and our belief that
everyone deserves access to reliable healthcare solutions. We are proud to be known
as First Aid Pharmacy and look forward to serving our customers with the utmost care
and professionalism.

BUSINESS SLOGAN

“Life’s better when you’re healthy”

The slogan " Life’s better when you’re healthy” likely promotes a patient-centered type
of service where the health of patients matters most. We ensure the proper way of
dispensing drugs through our registered Pharmacist as well as with the help of
pharmacy assistants. Our drugstore did not only focus on selling drugs but also other
services that make it unique. We continue to learn and seek out the best medical care
and services alternatives accessible to our customers including our drive-thru option,
clinic consultation area, and HIV consultation and will do our utmost effort to embrace
the changes in the profession of pharmacy that improves patient care. Moreover, we
keep up the most noteworthy standards of moral, ethical, and legal conduct while
ensuring that the designated result for each patient is reached to the most amazing
aspect of our pharmaceutical ability.

Risks and Potential Adverse Results

Business Risks

Understanding the risks present in the business industry is essential for First
Aid Pharmacy to overcome any obstacles and change the company's reputation,
financial, and marketing success. First Aid Pharmacy must ensure that they stay up-
to-date with technology. Remaining modernized while also remaining simple and
accessible for the elderly market is a balance First Aid Pharmacy will have to find and
maintain. Additionally, as a business, the risk of employee misconduct is present. First
Aid Pharmacy will face the risk of employees stealing or abusing the medication.
Employees could also make errors such as filling prescriptions incorrectly or
misconstruing instructions on orders.

Product Risks

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 Another risk associated with operating a pharmacy is the risk of faulty products.
Because First Aid Pharmacy will receive medications from third-party manufacturers
and suppliers, the owners will only directly monitor some aspects of the creation
process. Therefore, First Aid Pharmacy and all suppliers must have a strong channel
of trust.

Financial Risks

Maintaining customers and revenue is essential to avoid all financial risks. First
Aid Pharmacy must also continue to make payments on their business loan before
planning to purchase the building. The plan for buying and remodeling the structure
relies on the ability to pay off the business loan quickly. If it takes longer than expected,
the profit margin will not increase until later in the company's life cycle.

SWOT ANALYSIS

Swot analysis is a strategic management technique that helps ang organization

identify its Strengths, Weaknesses, Opportunities and Threats. Thus, this business
would use this tool to assess the factors that affect the business externally and
internally to maximize the strategies and decision-making skills in order to achieve the
goal of the business.

STRENGTHS WEAKNESSES

● Increased accessibility of ● Scope-of-practice of limitations

service.
● Pharmacists are regularly
considered the most trusted
health care professionals.
● Pharmacists are positioned to
offer more comprehensive and
superior quality care vs standard
treatment.
● Out-of-pocket costs for patients
● Public perception of conflict of
interest by both prescribing and
dispensing under the same
business

OPPORTUNITIES THREATS

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 ● Rebounding/growing market ● Pushbacks from physician
● Growing industry focus in groups
vaccines and preventative ● Downward pressure on prices
medication increases the number from new entrants/competition as
of potential interventions per market continues to expand
patient
● People using more medication
over time, so require service
providers with expertise in
managing interactions (value
creation)

PROPOSED SERVICE

The aging of the population, technological advances, new public health threats,
evolving patient expectations and shrinking budgets are putting pressure on health
care systems in Europe and beyond. An increasing portion of health care expenditure
is on pharmaceutical and chronic diseases. All these factors are pushing for change.
And community pharmacy is changing too to respond to these challenges and meet
patients’ needs by shifting the focus from dispensing medicines and diseases to
patient care and quality of services.

Pharmacy services aim to achieve the ‘triple aim’:

• Better quality of care

• Better health outcome

• Lower costs

If we look at the main trends in pharmacy services we observe that the number of
patient-centered services is increasing.

Core pharmacy services are:

• Dispensing (incl. repeat dispensing and homecare);

• Compounding;

• Emergency care (incl. emergency contraception) and minor ailment management.

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• Medication management (unit dose packaging, new medicines service, medicines
use review);

Over the past decade we are also seeing an increase number of advanced
pharmaceutical care services offered to patients, such as :

• Vaccination;

• Smoking cessation;

• Measurement of blood pressure, cholesterol, glucose, weight,

• Chronic disease management;

• Early screening and testing.

● Personalized Advice - Pharmacists give customers the advantage of offering

personalized advice that pertains to their specific health needs and
circumstances.
● Quality Customer Service - Having a pharmacist that knows you by name, calls
when your prescription is overdue and helps you locate the #1 doctor-
recommended over-the-counter cold medication while you hold a screaming
toddler. These things are priceless.
● Your Community Connection - When you’ve been away for vacation or at home
with the flu for a week and you feel out of touch, just ask your local pharmacist
for community updates.
● Much More Than Medication - A local pharmacy typically offers much more than
meds. We deliver top-notch service, competitive pricing, and a wide selection
of general healthcare and household items.

In our pharmacy, aside from selling medications and retail products, we also offer the
following services for a more competitive and efficient healthcare for everyone:

· HIV Consultation Clinic

· Free Blood Pressure Screening

· Free Pharmacist Counseling

· Drive-Thru Services for a more accessible option

· Consultation Clinic

· Telepharmacy Features with Delivery Services

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COMPANY LOGO

Regarding our company's logo, we vow as pharmacists to utilize our skills to

give maximum results for our patients and to push for changes that lead to improved
outcomes. Improving adherence, educating our patients on facts, and keeping open
lines of communication with experts on knowledge are all key components of
upholding our oath as pharmacists. Our logo represents traditional, generic, and
branded medications that strive to promote healing for everybody. People are looking
for various healing methods. Perhaps this reflects society's longing for something
more meaningful which might heal, create purpose, as well as provide consistency
perhaps in the midst of suffering.

The logo features a blue medicine capsule as the central image, signifying trust,
calmness, and reliability. The capsule is set against a green leaf background,
representing nature and growth and emphasizing the pharmacy's commitment to
health and well-being. A cross sign is prominently displayed on the capsule,
symbolizing the pharmacy's mission to provide healthcare services and support. The
word "First Aid" is displayed in bold, clean lettering below the capsule, conveying the
pharmacy's dedication to providing reliable and prompt medical assistance. The
overall color scheme is primarily blue and green, evoking a sense of trustworthiness,
serenity, and vitality. This logo design communicates a sense of expertise, caring, and
professionalism, making it an excellent representation of a pharmacy business that
values quality healthcare and customer satisfaction.

II. TARGET MARKET

The geographic range of a community pharmacy's target market can be

determined by mapping out the locations of competing pharmacies in the area and
targeting customers who live closer to our pharmacy. Our pharmacy has the goal of
meeting the needs of people of all ages and walks of life considering that it offers such
a wide range not just medications, but goods and services as well.

Our local pharmacy's target customer base can be significantly influenced by the
market's predominant characteristics. For instance, pharmacies in areas with a low-
income population are unlikely to serve many wealthy customers with a stable job and
high income and salary. However, since our pharmacy is located in a developed city,
the target customers would be all the people with different class and social status in
life. Assuredly, more elderly people compared to young adults will likely be served with
a higher average age, considering the fact that geriatric patients tend to have

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maintenance medications. Our pharmacy is able to target a specific market segment;
those customers who make their own payments for their prescription drugs.

The people we are focusing on are not just patients with different ailments and
symptoms; our target market includes medical professionals such as physicians as
well. For instance, it is expected of these medical professionals to give patients
prescriptions containing medicines which can obviously be bought in the pharmacy.
Convenience customers, the elderly, adults with neonates and pediatric patients and
patients from low-income to high salary areas are among the many population targets
that we consider. Moreover, we ought to attract specific demographic groups such as
adults in different working places, medical clinic patients and students from nearby
high schools, community colleges and universities. Succinctly, our pharmacy serves
people with pain, discomfort, and symptoms, no matter what demographic class they
belong to. In addition to medication, our pharmacy provides excellent customer service
to ensure public health and safety.

Supporting nonprescription sales appears to be essential for pharmacies' financial

prosperity, despite the fact that prescriptions are unquestionably one of the largest
sources of revenue and the primary reason customers visit the pharmacy. While
people in poorer health are more likely to go, pharmacies see people of all ages and
social classes every month. This makes it possible to deliver public health initiatives
in pharmacies.

III. COMPETITORS

Direct and Indirect Competitors

First aid Pharmacy will face competition from other companies with similar business
profiles. A description of each competitor company is below.

THE GENERIC PHARMACY

TGP provides a wide variety of pharmacy products and services including OTC
medications, lab testing, and compounding. Located in a senior neighborhood, TGP
team had experienced pharmacy technicians assures customers are well taken care
of and prescriptions are filled quickly and correctly. Also, they have branches
nationwide.

SAVE-ON DRUGSTORE

SAVE-ON DRUGSTORE is known for providing superior customer service. They are
able to provide a one-stop shop for customers looking for convenient OTC and
prescription medications, durable medical equipment, vaccines, and immunizations.
They have expert pharmacy technicians to provide information about each medication

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and answer all of their customers’ questions. Also, They have a convenience for a one
stop shop that provides the needs of everyone.

Competitive Advantage

First aid Pharmacy will be able to offer the following advantages over their competition:

● Friendly, knowledgeable, and highly qualified team of sales associates and

pharmacy technicians who will assist customers, answer questions, and
provide a personalized approach not found in larger pharmacies.
● Comprehensive array of products and services that includes everything you
would expect from a large pharmacy, only with attentive customer service and
lower prices.
● First aid Pharmacy offers the best pricing in Davao City. The pharmacy offers
its customers low prices on all of its products and services compared to the
competition.
● Management: Our management team has years of business and marketing
experience that allows us to market to and serve customers in a much more
sophisticated manner than our competitors.
● Relationships: Having lived in the community for 25 years, Davao City knows
all of the local leaders, newspapers and other influences. As such, it will be
relatively easy for First aid pharmacy to build brand awareness and an initial
customer base.

IV. MARKETING STRATEGY

Market segmentation

The First AID Pharmacy market is commonly divided into four elements: demographic,
geographic, psychographic and behavioral traits. The foundation of determining the
target market is found on these identified factors. For every business owner, they have
their own way on how to elevate their business through innovation and upgrading
quality services as a form of marketing strategy. FIRST AID Pharmacy is a local
business which requires to meet and undertake the diverse division of marketing
strategy in order to apply it in different areas of business progression.

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Type of Segmentation Segmentation Criteria FIRST AID Pharmacy
Target Segment

Demographic Age: All ages under and over 6

years old to 12 should go
along with adults

Gender: Male and Female

Occupation: Students, employees, and

Professionals

Geographic Cities Davao City

Urban

Psychographic Socioeconomic Class: Lower Class

Lower Middle Class

Upper Middle Class

Upper class

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 Behavioral Traits Personality: Learning and Obedience

Satisfaction: Consumer satisfaction

refers to satisfaction with
pharmacy delivered
counseling

services include
perceptions regarding the
pharmacy visit frequency,
counseling received,

initiator of counseling
episode and the
usefulness and effect of
counseling on patient’s
health related behavior.

Employee performance
positively affects
pharmacy customers’
perceived value and trust
in pharmacies.

Committed

Loyalty:

Over-the counter medicines

Over-the-counter medicines can be bought from pharmacies without a prescription.

Some over-the-counter medicines can also be bought from supermarkets and other
retail outlets.

These medicines include those used to treat minor illnesses that you may feel are not
serious enough to see a GP or pharmacist about.

For example:

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 ● paracetamol for a headache
● decongestants for a blocked nose
● cream or ointment for nappy rash

Over-the counter medicines for children

● Always read the information leaflet inside the packaging to check whether a
medicine is suitable for children.
● Some medicines should not be given to children – for example, children under
16 should not take aspirin.
● You should always check the dosage instructions for children as they are
usually different to adults.
● There may be some situations where a retail outlet cannot sell a medicine to a
child for their use because the medicine is not licensed for children of that age.
● For example, some antacid medicines, which relieve heartburn, are only
recommended for children aged 12 and over.

Promotion Strategy

Regardless of the fact that our retail pharmacy store is well located in University of
Mindanao, we will still go ahead to intensify publicity for the business. We are going to
explore all available conventional and non – conventional means to promote our retail
business.

First Aid Pharmacy Store has a long term plan of opening outlets in various locations
all around Davao City which is why we will deliberately build our brand to be well
accepted in Matina 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. Here are the platforms we intend
leveraging on to promote and advertise First Aid Pharmacy Store;

● Place adverts on both print (community based newspapers and magazines)

and electronic media platforms.
● Sponsor relevant community programs
● Leverage on the internet and social media platforms like; Instagram,
Facebook , twitter, et al to promote our brand
● Install our Bill Boards on strategic locations all around University Of
Mindanao, Matina.
● Distribute our fliers and handbills in target areas
● Position our Flexi Banners at strategic positions in the location where our
retail store is located.

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NEWSPAPER

BILLBOARD

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 FLYERS

FLEXIBANNERS

Social Media – In the upcoming age of technology, businesses can immensely benefit
from taking advantage of social media as a way of connecting with potential
customers. First Aid Pharmacy will be using the most popular social media site to
increase the customer base. The owners chose to use Facebook because it is very
common, and after surveying the target market, it was found that Facebook is the most
used social media platform in the community. The company’s Facebook Page is the
great benefit of Facebook is that when a user “likes” the First Aid Pharmacy page, all
of their Facebook friends will see this activity on their news feed, which will expand
First Aid Pharmacy’s social media reach.

Facebook

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Distribution strategy

1. Online sales: Establish an e-commerce platform to sell products and offer

home delivery services. That can expand the pharmacy's reach beyond its
physical location and provide convenience to customers who may not be able
to visit the pharmacy in person.
2. Physical store: Maintain a well-stocked physical store with knowledgeable
staff who can provide personalized recommendations and advice to
customers. Ensure that the store is easily accessible in a high-traffic area.
3. Partnerships with healthcare providers: Partner with healthcare providers
such as hospitals, clinics, and doctors to increase the pharmacy's visibility and
expand its customer base. This can involve setting up satellite stores within
healthcare facilities or offering discounts to healthcare providers and their
patients.
4. Supply chain management: Ensure the supply chain is well-managed to
maintain consistent inventory levels and avoid stockouts. This can involve
establishing partnerships with suppliers and distributors to ensure the reliable
and timely delivery of products.
5. Marketing and advertising: Develop a comprehensive marketing and
advertising strategy to promote the pharmacy and its services. This can
include traditional methods such as print ads and flyers and digital marketing
strategies such as social media campaigns and email newsletters.

By implementing these strategies, a pharmacy can effectively distribute its products

and services, increase its customer base, and ultimately grow its business.

Pricing Strategy

First Aid Pharmacy will work towards ensuring that all our products (prescription drugs
and over-the-counter drugs and beauty products, cosmetic,) are offered at highly
competitive prices compare to what is obtainable in Matina.

The fact that we are going to be offering our products at cheaper prices does not in
any way means that we will sell sub – standard goods. Selling our products at a lower
price than what is obtainable in our competitors store means that we will only reduce
our profit margin.

Payment Options

At First Aid Pharmacy, our payment policy is all inclusive because we are quite aware
that different people prefer different payment options as it suits them. Here are the
payment options that will be available in every of our outlets;

● Payment by cash
● Payment via Point of Sale (POS) Machine

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 ● Payment via online bank transfer (online payment portal)
● Payment via Mobile money
● Check (only from loyal customers)

In view of the above, we have chosen banking platforms that will help us achieve our
payment plans without any itches.

V. LOCATION

The proposed location for this business will be located outside of the University of
Mindanao, Matina Campus, specifically at the entrance of the university. Since it aims
to serve students also the residence nearby, it will have a wi-fi enabled space together
with clean space.It can be found just at the side of the road.

Outside view Interior design

Floorplan

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VI. MANAGEMENT

Key Employees and Human Resources

The pharmacists will oversee the performances of other employees. Each

employee will sign a contract, agreeing to their stated duties and responsibilities and
their payroll and benefits information. As Chief Executive Officer of First Aid Pharmacy,
Cyrus Jed Maligang supervises the company's management structure and works
closely with the operations manager. As Operations Manager, Melchie Tomanggong
will ensure that appropriate candidates are selected for the various other positions.
Financial Manager, Angeneth Vanne Ranga, will make financial decisions and be
expected to create quarterly reports on the financial stability of the pharmacy.
Technology coordinator Kaye Malacad will ensure that all software, the website, and
internet servers are correctly working. First Aid Pharmacy, as a PLLC, will not acquire
a board of directors but will obtain an advisory committee. The advisory committee will
consist of the owners, bank representatives, and two certified pharmacy technicians,
Edriane Decatoria & Vincent Ihalas. This committee will meet bi-monthly to review
financials, evaluate the status of the business, and plan for the future. These meetings
will allow all parties to voice their opinions about the company and give the owners'
input.

Pharmacist, Chief Executive Officer - Maligang, Cyrus Jed

Pharmacist Job Duties: Prepare medications, detect therapeutic incompatibilities,

dispense medications, and package and label pharmaceuticals

CEO Job Duties: Budgeting, employee management, and business affairs

Pharmacist, Operations Manager – Tomanggong, Melchie

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Pharmacist Job Duties: Prepare medications, detect therapeutic incompatibilities,
dispense medications, and package and label pharmaceuticals

Operations Manager Job Duties: Human Resources duties, hiring procedures,

analyze and improve organizational processes, and work to improve quality,
productivity, and efficiency.

Certified Pharmacy Technician- Decatoria, Edriane

CPhT Job Duties: Prepare medications, receive and verify prescriptions, price
prescriptions, fill prescriptions, and complete paperwork related to the filling of
prescriptions.

Financial Manager – Ranga, Angeneth Vanne

Financial Manager Job Duties: Review financial reports, monitor accounts, complete
payroll, investigate ways to improve profitability, and analyze markets for business
opportunities

Certified Pharmacy Technician- Ihalas, Vince

CPhT Job Duties: Prepare medications, receive and verify prescriptions, price
prescriptions, fill prescriptions, and complete paperwork related to the filling of
prescriptions

Pharmacy Clerk, Technology Coordinator – Malacad, Kaye

Clerk Job Duties: Assist customers, stock shelves, operate cash register, clean work
area, sterilize containers, organize supplies, order medication and supplies, label
medications, and janitorial duties

Technology Coordinator Job Duties: Provide customer support, software

management, financial system maintenance, mobile application and website
development, internet maintenance, and network design

Office hours

Trading Hours: Mon to Fri 8am-8pm, Sat and Sun 9am-7pm. These hours are longer
during the week and weekends, compared to other local pharmacies. To cater the
population, we are open restricted hours during public holidays. This helps increase
our clients and minimize competition as we strive to be easily accessible for our
customers’ convenience.

Shifting schedule:

MON TUE WED THURS FRI SAT SUN

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Pharmacist1 8am- 1pm- 8am- 1pm- 8am- 9am- 2pm-
1pm 8pm 1pm 8pm 1pm 2pm 7pm

Pharmacist2 1pm- 8am- 1pm- 8am- 1pm- 2pm- 9am-

8pm 1pm 8pm 1pm 8pm 7pm 2pm

Pharm tech1 8am- 1pm- 8am- 1pm- 8am- 9am- 2pm-

1pm 8pm 1pm 8pm 1pm 2pm 7pm

Pharm teach 1pm- 8am- 1pm- 8am- 1pm- 2pm- 9am-

2 8pm 1pm 8pm 1pm 8pm 7pm 2pm

Pharmacy 8am- 8am- 8am- 8am- 8am-

clerk 5pm 5pm 5pm 5pm 5pm

VII. COST OF PRODUCTION

Startup Expenditure(Budget)

This is the key areas where we will spend our start – up capital on;

● The Total Fee for Registering the Business in Davao – 500.

● Legal expenses for obtaining licenses and permits- 4,000.
● Marketing promotion expenses for the grand opening of People’s Choice
Retail Store in the amount of 1,500 and as well as flyer printing (500 flyers at
2.00 per copy) for the total amount of 2,500.
● Cost for hiring Consultant – 2,500.
● Cost for Computer Software (Accounting Software, Payroll Software, CRM
Software, Microsoft Office, QuickBooks Pro, drug interaction software,
Physician Desk Reference software) – 7,000
● Insurance (general liability, workers’ compensation and property casualty)
coverage at a total premium – 3,400.
● Cost for payment of rent- 5000
● Cost for Shop remodeling (construction of racks and shelves) – 20,000.
● Other start-up expenses including stationery (500) and phone and utility
deposits (2,500).
● Operational cost for the first 3 months (salaries of employees, payments of
bills et al) – 100,000
● The cost for Start-up inventory (stocking with a wide range of products) –
150,000
● Storage hardware (bins, rack, shelves,) – 3,720
● The cost for counter area equipment (counter top, sink, ice machine, etc.) –
9,500

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 ● Cost for Supplies (Assorted bottles, boxes, envelopes, etc. for dispensing and
shipment)- 3,000
● Cost for store equipment (cash register, security, ventilation, signage) –
13,750
● Cost of purchase and installation of CCTVs: 7,000
● The cost for the purchase of furniture and gadgets (Computers, Printers,
Telephone, TVs, tables and chairs et al): 4,000.
● The cost of Launching a Website: 700
● Miscellaneous: 10,000

We would need an estimate of 500,000 to successfully set up our retail pharmacy store
in University of Mindanao. Please note that this amount includes the salaries of all the
staff for the first month of operation.
Generating Funding / Startup Capital
First Aid Pharmacy is a private business that is solely owned and financed by Cyrus
Je Maligang and family. They do not intend to welcome any external business partners
which is why he has decided to restrict the sourcing of the start – up capital to 3 major
sources. These are the areas Cyrus Jed Maligang Pharmacy intends to generate our
start – up capital;
● Generate part of the start – up capital from personal savings
● Source for soft loans from family members and friends
● Apply for loan from my Bank

N.B: We have been able to generate about 200,000 (Personal savings 150,000 and
soft loan from family members 50,000) and we are at the final stages of obtaining a
loan facility of $300,000 from our bank. All the papers and document have been signed
and submitted, the loan has been approved and any moment from now our account
will be credited with the amount.

VIII. ACTION PLAN

● To provide exceptional customer service and expert advice on medication and

health-related issues to our customers.
● To be a trusted and reliable source of medicines and health products, meeting
the needs of the local community.
● To continuously improve our operations and services through ongoing
training, technology adoption, and customer feedback.
● To expand our business by offering additional health services and products
that complement our core offerings.
● To build strong relationships with healthcare providers in the community and
collaborate with them to provide optimal patient care.

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● To provide affordable access to quality medication and healthcare products by
leveraging cost-effective sourcing, efficient operations, and strategic
partnerships to help improve the health and well-being of the community we
serve.
● To be a responsible corporate citizen, giving back to the community through
charitable donations, volunteer work, and other initiatives.
● To empower and educate our customers by providing accurate and up-to-date
information about medications, health conditions, and other relevant health
topics to help them make informed decisions and improve their overall health
and well-being.
● To offer a comprehensive array of products and services that includes
everything you would expect from a large pharmacy, only with attentive
customer service and lower prices.

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REFERENCES:

Martins, A. T. (2021, May 27). How to Write a Retail Pharmacy Business Plan
[Sample Template]. ProfitableVenture.
https://www.profitableventure.com/pharmacy-business-plan/
Joy, H. (2023, January 25). Pharmacy Business Plan Template. PlanBuildr
Business Plan Software. https://planbuildr.com/pharmacy-business-
plan/
M. (n.d.). Tips on Writing a Pharmacy Business Plan.
https://www.mckesson.com/Blog/Pharmacy-Business-Plan-Tips/

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