Retail Pharmacy Business Plan In Nigeria

Pharmacy Business Plan In Nigeria | Wholesale Pharmacy Business 2024 Sample Doc

Retail Pharmacy Business Plan in Nigeria – There is a saying that goes health is wealth, and I think that is true and also the reason why when it comes to business interest that has to do with health it comes successful, ever wondered why nearly every chemist or pharmaceutical products sells even when they are not place in any shop.

Retail Pharmacy Business Plan In Nigeria – In Nigeria today, apart food we eat, the house we live in, the cloth we wear and maybe our personal business venture, the next that comes  in line is our health status. This is for a fact, you basically cannot  enjoy your health when you are not healthy.

I’ve come to a logical conclusion that one of the reasons retail Pharmacy Business has continued to thrive in Nigeria is the dependency o f hospitals on them, I’ve been to hospitals where the doctor after his prognosis when then refer to a pharmacy. In fact most doctors have private pharmacy where they direct their patients to, it might for so many reasons but top of the reasons are;

  • The pharmacy was set up to meet basic pharmacy standard, in this case the pharmacy was properly set up, with a recognizable business name and in the event of going against practice could be sanctioned. This can most times be achieved when the own uses a retail pharmacy business plan in Nigeria, he gets to know those dos and don’ts in the profession.
  • The pharmacy has a business relation with the doctor, most times these pharmaceutical outlets has doctors as agents, maybe not for a fee but based on trust, you see a doctor directs a patient to a specific pharmacy after making his prescription, like wise most pharmacy directs you to a hospital where you can go for your medical checks, its mostly like a synergy between these branches of health services.
  • Most times these pharmaceutical outlets are strategically located close to a hospital, and then having a knowledge about this, the doctor simply directs to just go to the close by pharmacy to get your drugs, it is usually a win win situation for both the hospital and the pharmacy, now you see why location in business is important? Learning how to start a pharmacy business in Nigeria is one thing but doing it in the right way is another.

TO GET THE COMPLETE PHARMACY BUSINESS PLAN IN NIGERIA / FEASIBILITY REPORT. Pay N10,000 to

GTBank (Guaranty Trust Bank)

Account Name – Okite Joseph ikenna

Account No – 0044083736

After payment text your name, your e-mail address and bank teller number to 07039768549. and you’ll receive your PHARMACY BUSINESS PLAN / FEASIBILITY STUDY PROPOSAL.

How Profitable Is Pharmacy Business In Nigeria?

A good health breeds enjoy and success and as a basic necessities of life, pharmaceutical products have continued to be source of wealth to so many, ever wondered why GNLD products sells even after a long period, even when you think the product would have faded, you still have people making a kill from the products sales, there are other retails pharmacies also making rounds and you know the great thing about this is that, you do not even need to be a professional to own, however, instead of hawking these products and be making Pea Nuts, why not channel your energy into having a standard pharmacy.

With the details contained in our Retail Pharmacy Business Plan In Nigeria, you could actually organize a pharmacy business plan PowerPoint presentation for people who have interest in starting up a business venture in this regard.

To the question on how profitable pharmacy business is in a country like Nigeria, the answer to this question can be pointed to so many facts, facts that simply states that the health sector of the country needs emergency, let me begin with this, the population of Nigeria is estimated to be well over 180,000,000 (one hundred and eighty million) people presently residing in the country, now that figure overwhelms the present medical facilities as well as structure in the country.

From the assertion above, you will discover that a country where budget for health sector is very low, it leaves room for improvement, an improvement which obviously come from the public sector, a little search on how people are going about acquiring their retail pharmacy business plan samples, all in the bid to fill a vacuum that has been left by the government.

Most people are not just interested in the retail aspect of pharmacy, a lot more people have asked questions on how they can also start wholesale pharmacy business using our plan. It is obvious that this business is profitable, as one can really not doubt how lucrative it can be. One of the factors that determines the standard of living of most nation can be derived from the health sector, and that is in agreement to the first statement I made “Health is Wealth”…

List Of Pharmacy franchise in Nigeria

There are loads of pharmacies in Nigeria, here are few of the best that I know,

  • Gordal Pharmacy, Abakaliki, Ebonyi State
  • Mid Town Pharmacy, Abakaliki, Ebonyi states
  • Alpha Pharmacy & Stores Ltd, Ikeja, Lagos state
  • Longlife Pharmacy Nigeria Limited, Lagos state
  • 4Tees Pharmacy, Lagos state

How To Start A Retail Pharmacy Business In Nigeria

I Am going to list a few things you will need before starting your own pharmacy anywhere in Nigeria;

You Need A Business Plan – A pharmaceutical business plan sample is an example of what a business plan should, herein should contain the master plan of all that you will have in your pharmaceutical outlet, also it should contain your financial projection as it will answer the question of how much it cost to open a pharmacy in Nigeria. The cost depends on you or on the size of pharmacy you want to have.

Register A Business Name – Every pharmacy that I know has a name, and in order to stand out, you need to choose a name that people can easily remember, people can associate with. Also consider your location before choosing a name, a pharmaceutical outlet in Jigawa State, Sokoto or even Kano, should have a name that isn’t associated to any religion, the name should reflect what the people stands for, since things like this are sensitive in places like that.

Contract a Registered Or Certified Pharmacist  – Most times agents as well as agencies in charge of this sector can shut you down if they discover that your pharmacy doesn’t have a pharmacist in it, in fact a mare knowledge of the fact that you do not have a pharmacist in your outlet can drive people away from your business. Ensure you adhere to the rules and regulations of the industry by getting a pharmacists and then having all your required certifications you need to operate.

Go into an agreement with hospitals – In the beginning, I talked about hospital being the biggest referrals to pharmacies. This agreement could be built on trust and good will, and of course you need to build your pharmacy to standard, it should also be a place where every drug can be found. When a pharmacy keeps referring its customers to other places because they do not have most of the drugs customers need, it creates trust gap between the customers and the pharmacy and even the hospital, if it turns into a reputation, it that shut down your business.

Get a warehouse – This can be your mini pack, the idea is not to run out of stock, you can always restock sold out drugs from the reserve in the warehouse. The warehouse should not be the conventional warehouse, it should be one with special features, it should always be dried, cool and should be conducive for storing drugs. Also be mindful of expiry date in order not to store up drugs for so long until they get expired.

Employ Capable Staff – Every business thrives base on the people that work there, your major concern should be on customer service, this alone can help to retain your customers, it can even make customers to refer others to your outlet. Good customer service is another means of advertising your business to the society. Most businesses are still afloat because of their customer service delivery. There are other section that also needs to be filled they include the following;

  • Customer Service personnel
  • Security personnel
  • Cleaners
  • Receptionist (depending on how big the pharmacy is)
  • Delivery personnel etc

NOTE – You may not need all that if your plans are to open a small pharmacy store that will accommodate only 3 or 4 people.

Basic Equipment – Your pharmacy should have some basic equipment, these equipment you will probably see in many other pharmacy around, the following in no particular order are the few things you need to function properly;

  • Refrigerator(s) to store up drugs that should be kept in low temperature
  • Cashier
  • Glass shelves
  • One or two POS system (in case one fails)
  • CCTV cameras for security
  • A TV set
  • Air conditioners to keep the store cool
  • An alternative power supply etc.

Finally, ensure you associate your business with relevant bodies such as the pharmacist council of Nigeria or the pharmaceutical society of Nigeria.

TO GET THE COMPLETE PHARMACY BUSINESS PLAN IN NIGERIA / FEASIBILITY REPORT. Pay N10,000 to

GTBank (Guaranty Trust Bank)

Account Name – Okite Joseph ikenna

Account No – 0044083736

After payment text your name, your e-mail address and bank teller number to 07039768549. and you’ll receive your PHARMACY BUSINESS PLAN / FEASIBILITY STUDY PROPOSAL.

Retail Pharmacy Business Plan In Nigeria

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