PHARMACEUTICAL STORE BUSINESS PLAN

TABLE OF CONTENTS

1.     Executive Summary

2.     Business Description and Vision

2.1    Business Overview

2.2    Vision Statement

2.3    Mission Statement

2.4    Business Objectives

2.5    Core Values

2.6    Location Justification

2.7    Business Opportunity

3.     Market Analysis

3.1    Industry Overview

3.2    Target Market

3.3    Market Trends

3.4    Competitive Landscape

3.5    SWOT Analysis

4.     Products and Services

4.1    Product Lines

4.2    Services

4.3    Value Proposition

5.     Operations and Infrastructure

5.1    Facility Design

5.2    Technology Integration

5.3    Staffing Plan

5.4    Supply Chain and Inventory Management

5.5    Regulatory Compliance

5.6    Daily Operations

6.     Management Team

6.1    Key Personnel

6.2    Organizational Structure

6.3    Recruitment Plan

6.4    Succession Planning

7.     Marketing Strategy

7.1    Branding

7.2    Promotional Activities

7.3    Digital Marketing

7.4    Competitive Pricing

7.5    Customer Retention

8.     Financial Plan

8.1    Startup Costs

8.2    Revenue Projections

8.3    Expense Forecast

8.4    Profitability Analysis

8.5    Cash Flow Management

9.     Risk Assessment

9.1    Key Risks

9.2    Mitigation Strategies

9.3    Contingency Planning

10.    Expansion Plan

10.1 Short-Term Expansion (Year 2):

10.2 Medium-Term Expansion (Year 3–4):

10.3 Long-Term Expansion (Year 5):

10.4 Infrastructure Considerations:

10.5 Financial Projections for Expansion:

11.    Legal and Compliance

11.1 Registration and Licensing:

11.2 Labour and Employment Laws:

11.3 Health and Safety Compliance:

11.4 Data Protection:

11.5 Insurance:

12. Detailed Appendices

Appendix A: Three-Year Cash Flow and Profit Projection

Appendix B: Floor Plan and Layout

Appendix C: Organizational Chart

Appendix D: Regulatory Documents Checklist

Appendix E: Emergency Response Plan

Appendix F: Marketing Calendar (Year 1)

Appendix G: Staff Training Schedule

Appendix H: Risk Register

1. Executive Summary

Medilink Pharmacy and Wellness Centre is a proposed full-service pharmaceutical retail outlet and wellness centre to be located in the heart of Ikeja, Lagos State, Nigeria. The centre will be positioned as a trusted provider of essential medicines, over-the-counter (OTC) drugs, health supplements, personal care products, and wellness consultation services. In addition to retail pharmacy operations, Medilink will integrate patient counseling, basic health screenings, and health education programs to foster better community health outcomes.

Lagos State, being Nigeria’s commercial capital, is home to a growing middle class, high population density, and increasing demand for professional healthcare services. However, despite the proliferation of pharmacies, gaps remain in service quality, product authenticity, and holistic wellness offerings. Medilink seeks to bridge these gaps by combining regulatory compliance, digital integration, and excellent customer service in a modern, safe, and accessible environment.

We plan to invest in a spacious 250 square metre facility located on Obafemi Awolowo Way, Ikeja, a high-footfall area with proximity to hospitals, residential estates, and office complexes. The pharmacy will be designed with distinct sections for prescription drugs, OTC products, supplements, cosmetics, and a consultation room. A small diagnostic corner for services such as blood pressure monitoring, blood sugar testing, BMI checks, and vaccination support will be incorporated.

Capital Requirement:

The startup cost is projected at ₦60 million, covering rent, renovations, fixtures, equipment, initial inventory, licensing, and working capital. Revenue is forecast to grow from ₦8 million monthly in the first quarter of operation to over ₦15 million monthly by the end of Year 1, with a profit margin of approximately 25–30% once operational efficiency is achieved.

Vision: To become the most trusted neighborhood pharmacy and wellness partner in Lagos, delivering genuine products and compassionate services.

Mission: To enhance community health by providing reliable access to medicines, wellness education, and supportive care in a safe, friendly environment.

Objectives:

• Launch operations within 6 months of funding.
• Achieve daily customer traffic of at least 200 within the first year.
• Establish a wellness subscription model with at least 500 members by Year 2.
• Expand to 3 additional outlets across Lagos within 5 years.

Medilink’s competitive edge will rest on certified pharmacists on duty at all times, seamless digital record keeping, integration with telemedicine platforms, and participation in national health insurance schemes (NHIS). By providing a one-stop solution for medication, wellness, and education, Medilink Pharmacy will not only generate sustainable revenue but also contribute significantly to public health outcomes in Lagos State.

2. Business Description and Vision

2.1 Business Overview

Medilink Pharmacy and Wellness Centre will operate as a Limited Liability Company registered with the Corporate Affairs Commission (CAC) of Nigeria. The business will adhere strictly to regulations set by the Pharmacists Council of Nigeria (PCN) and the National Agency for Food and Drug Administration and Control (NAFDAC). The pharmacy will serve as both a retail outlet and a minor healthcare support hub, providing medicines, personal care products, and preventive health services.

Key product categories will include:

• Prescription Medicines: Sourced only from PCN-approved suppliers and major distributors, ensuring authenticity and proper storage conditions.
• Over-the-Counter (OTC) Drugs: Pain relievers, antacids, antihistamines, and other essential OTC medicines.
• Nutritional Supplements: Vitamins, minerals, and wellness supplements tailored to different demographics (children, adults, seniors).
• Cosmetics and Personal Care: Dermatologist-approved skincare, haircare, and hygiene products.
• Wellness Services: Blood pressure checks, sugar monitoring, vaccination support, counseling on lifestyle diseases.

2.2 Vision Statement

To be a benchmark in Nigeria’s retail pharmacy space, delivering exceptional pharmaceutical care and wellness solutions that improve lives.

2.3 Mission Statement

To ensure easy access to genuine medications and wellness products while empowering customers with knowledge and supportive health services in a warm, professional setting.

2.4 Business Objectives

• Short Term (0–12 months): Establish a reputable brand in Ikeja, achieve regulatory compliance, and build a loyal customer base.
• Medium Term (1–3 years): Expand product lines, introduce telepharmacy services, and increase monthly sales to over ₦20 million.
• Long Term (3–5 years): Set up additional branches in Lagos Mainland, Lekki, and Surulere, and become a recognized brand in pharmacy retail and wellness.

2.5 Core Values

• Integrity: Guaranteed genuine products and ethical practices.
• Compassion: Patient-centered services and friendly interactions.
• Excellence: Continuous improvement in service quality.
• Innovation: Adoption of technology to enhance pharmacy operations.

2.6 Location Justification

Ikeja, the capital of Lagos State, is a commercial hub with numerous hospitals, residential estates, and offices. A pharmacy located along Obafemi Awolowo Way will tap into heavy foot traffic from both local residents and office workers, while also serving as a convenient option for nearby clinics that need a reliable pharmacy partner.

2.7 Business Opportunity

There is a growing public concern over counterfeit drugs, substandard services, and poor customer care in some retail pharmacies. Medilink will differentiate itself by employing licensed pharmacists, using temperature-controlled storage, digital inventory tracking, and offering value-added services like health talks and loyalty programs. In a city of over 20 million people with ongoing health challenges, the market potential is vast and largely underutilized.

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