I] Cover and Title Page

JJ & MAD’S THRIFTY WAY PHARMACY INC.

More than just Low Prices

Business Plan (Group 1)

June 2021
Gomonit, Jeanyviv May L.
Mulato, May
Rojo, Airene V.
Subaldo, Dorothy Joy B.
Tangara, Judy Ann T.
II]EXECUTIVE SUMMARY
JJ & MADS Thrifty Way Pharmacy will be located at the heart of Kidapawan City where the
citizens will have an easy access. Our location will be along Quezon Boulevard where our
consumers can easily see the pharmacy. The pharmacy will be offering compounding services of
over-the-counter drugs & prescription drugs to our patients that will cater to their specific
medication needs, synthetic drugs, and locally produced products such as Akapulko antifungal
ointments, Ampalaya candy supplements, Wild tea, Mayana nasal drops and many others.
JJ & MADS Thrifty Way Pharmacy has joined the pharmaceutical business to cater to our
consumers needs for a more comfortable way of administering their medications. With qualified
and well-trained staff, we can provide our services to a wide range of customers who have
different medication needs. We will be engaged in the sale of synthetic drugs, locally produced
alternative drugs, and compounding services at an affordable price.

III] TABLE OF CONTENTS

I Cover and Title Page
II Executive Summary
III Table of Contents
IV Chapter 1. Company Overview
A. Business Description
* Describe the Industry
* Your Company Basics
* Mission Statement
* Company Current and Future Goals
B. Service Product Description
V Chapter 2. Marketing Plan
A. Market Analysis
B. Marketing Strategy / Plan
VI Chapter 3. Financial Plan
A. Project Revenue
B. Cost of Sales
 C. Projected Expenses
D. Projected Financial Plan
VII Chapter 4. Organization Plan (Management Team)
A. Organizational Flow Chart
B. Roles, Duties and Responsibilities
VIII Chapter 5. Operations
A. Process Flow
IX Appendices

IV] Chapter 1. Company Overview

A. Business Description
The pharmaceutical industry is commonly known for its production and marketing of drug
products. Compounding pharmacies gives emphasis in this traditional practice by preparing
customized dosage forms and/or prescription medications to meet a patient’s or physicians
specific needs. Aside from these services, the pharmaceutical industry also specializes in
providing different dosage forms of a specific drug to assist our consumer/patients in
comfortably administering their medications.
JJ & MAD’s Thrifty Way Pharmacy Incorporated is a locally owned compounding pharmacy
that is based in Kidapawan City, North Cotabato. The company is named so by combining the
first letter of its owners’ names: Judy Ann Tangara, Jeanyviv May Gomonit, May Mulato,
Airene Rojo, and Dorothy Joy Subaldo. Majority of the consumers who are need of a medicine
do not require compounded drugs, but there are still some who do, and we acknowledge that
patients require medications to be blended in a specific way that is suited for them. Thus, we are
committed to offering our expertise into making compounded medications that will be easy for
them to administer.
Our compounding services include:
 Converting solid dosage forms to liquid dosage forms
 Dermatology medications (ointments, gels, creams)
 Suppositories
 Hormone Therapy
 Pain management
 Cosmeceuticals
 Veterinary Medicine
As health care professionals we work, not only to offer our expertise as pharmacists, but also to
promote a healthy living. Locally sourcing our raw materials allows us to provide affordable
prices for our products without compromising product quality, safety, and efficacy. With
products ranging from synthetic drugs to vegetable supplements, herbal nasal sprays, and
ointments.
Although, there are only a few compounding pharmacy’s that are established here in the
Philippines, we aim to promote the therapeutic properties of medicinal plants and to be the first
retail pharmacy to offer its compounding services in Mindanao.
Vision Statement:

JJ & MAD’s Thrifty Way Pharmacy Incorporated envisions to provide compounding

services here in Mindanao.

Mission Statement:

JJ & MADS Thrifty Way Pharmacy Incorporated aims to be the leader in providing
quality compounding chemicals, products, and turnkey solutions in the compounding
industry in the Philippines.

B. Service/ Product Description

JJ & MADS Thrifty Way Pharmacy Incorporated will be offering pharmaceutical
compounding services to our consumers along with supplements, dermal medicines,
beauty products, as well as related products.

V Chapter 2: Marketing Plan

A. Market Analysis:
Environmental and Industrial Analysis:

 Political
 Government policy
 Rise of political involvement in health care services and programs.
 Political stability
 Corruption
  Tax policy
 Labour law
 Economic
 Increase in labor cost.
 Inflation
 Consumers lack in awareness of the service.
 Economic growth
 Socio Cultural
 Safety emphasis
 Health consciousness
 Lifestyle attitudes
 Cultural barriers
 Technological
 Technology incentives
 Level of innovation
 Automation
 Technological change
 Technological awareness
 Environmental
 Weather
 Climate
 Environmental policies
 Climate change
 Pressures from NGO’s
 Legal
 Employment laws
 Consumer protection laws
 Copyright and patent laws
 Health and safety law

Target Market:
JJ & MADS Thrifty Way Pharmacy Incorporated will open its doors to a wide range of
customers. From customers who seek to have a healthy lifestyle to customers who require
their prescription medication be compounded in a certain way.
 Competition:
Apotheca Integrative Pharmacy pioneered specialty compounding pharmacy in the
Philippines. They offer a wide range of inexpensive products such as custom-made
medicines, bio-identical and natural hormone replacement therapies, pain, diabetic or
special medication. Located at Legazpi Village, Makati, Metro Manila, Philippines, this
company has been operating since 2014.

SWOT Analysis:
If we must achieve the goals we have set for this business, we should make sure that we
set the business on a firm foundation. We should follow due process in putting up the
pharmacy store.

We have conducted a SWOT analysis to help in structuring the business. Here is the
summary of the SWOT analysis we conducted.

Strength
A strategic location and locally sourced raw materials are our strength. Due to the current
pandemic, we will be offering multiple payment options, a wide range of compounded
drug products as well as home delivery service.

Weakness
Our weakness is that we are just starting and our consumers in Kidapawan City are not
yet aware of what a compounding pharmacy is since we will be the first in the city to
offer such service.

Opportunities
There are uncountable opportunities available and all we need to do is to position our
business to take the best out of the available opportunities.

Threats

Like any other retail store, we are most likely to face economic downturn along
unfavorable government policies in health care reforms. These may affect the purchasing
power. Other threats may include the arrival of new pharmaceutical outlets in the same
location.

B. Marketing Strategy
Our marketing strategy and sales strategy will be based creating long-term relationships
with our customers. To achieve this, we need to the products and services we offer will
be more affordable compared to other pharmacies.
Aside from offering affordable prices, our staff will be trained to offer excellent customer
service. We understand that by providing excellent customer service and high-quality
products, this will enable us to gain more customers through free advertising by word of
mouth. We will also advertise our business in radio stations, newspapers, TV, and
promotional posters.