Drugstore business plan philippines

Wait until you finish all the other sections of your business plan before you construct an executive summary. Your executive summary should be written in a manner that communicates every aspect of your business plan in no more than about three pages. Use advice contained in "Inc.

Drugstore business plan philippines

This explains why drugstores continue to flourish in sales despite the economic crisis. In the Philippines, for instance, the market for pharmaceuticals is over P billion.

You will notice, too, that drugstores nowadays are not exclusive to medicines but have expanded to selling health and hygiene products, as well. It is possible to start with only Phpif you own the location and if renovation would be minimal.

But, this amount will only be sufficient if you will stock mostly on generic drugs.

Starting a Drugstore Business in the Philippines

In most cases, the minimum start up requirement will be at least Phpfor a small drugstore. Plan the product assortment you will be carrying. What other items besides medicine will you be stocking? This will depend on your marketing strategy and capital available. Take note that branded medicines have very low margins.

You get most of your profit from generic medicines where the mark up is extremely high. Invest time and money in selecting the best location for your business. This should be where there is a high pedestrian traffic. Observe the location for at least one week and walk around the neighborhood to get more information.

The legal minimum area requirement is 15 square meters. If plan to set up a single proprietorship, register with the Department of Trade and Industry. For corporations, register with the Securities and Exchange Commission. You must then hire a licensed pharmacist as this is one of the FDA requirements before you can even apply for a license with them.

Among the facilities that will be checked is that you must have a sink with water source. It would be best if you hire sales clerks that already have extensive experience in a drugstore.

Remember that you are selling products that may cause serious injury if improperly dispensed. Apply for certificate of registration and other permits from the BIR.

20 Small Business Ideas in the Philippines for - The Filipino Entrepreneur

You may then use printed receipts or POS point of sale system. Having a POS is recommended because you can easily track your inventory and purchases besides other critical control functions.In the Philippines, for instance, the market for pharmaceuticals is over P billion.

You will notice, too, that drugstores nowadays are not exclusive to medicines but have expanded to selling health and hygiene products, as well. Here are our top three picks for the most profitable, most reliable and most poular generic pharmacy franchises in the Philippines. The Generics Pharmacy This is one of the most popular generic pharmacy franchises in the Philipines and this is because Mayor Vilma Santos endorses the franchise.

To know more about this business, BusinessCoach, Inc., a leading business seminar provider, conducts an excellent seminar on this entitled How to Start a Drugstore Business.

drugstore business plan philippines

You may contact them at , , or visit their website mtb15.com for details. Home / Pharmacy Business / PHARMACY BUSINESS REQUIREMENTS (Philippines) PHARMACY BUSINESS REQUIREMENTS (Philippines) Location including landmarks and Floor plan with dimension including all the areas; FDA Checklist of Requirements for Drugstore/Hospital Pharmacy/Retail Outlet for Non-Prescription Drugs.

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PHARMACY: How to Put-up a Drugstore Business in the Philippines

thank you! The Discount Pharmacy pharmacy business plan executive summary. The Discount Pharmacy is a retail store front/mail order purveyor of prescription medications, offering reduced prices to self-pay, cash-only customers/5().

Business Training Provider in the Philippines: How to Start a Drugstore Business