New Business Plan on Digital Pharmacy

Exclusive Summary:

Digital Pharmacy is a modern type pharmacy notion with the capability of extraordinary
services based on internet. The pharmacy will come out with some dazzling ideas which
is most appropriate for current world.
The start-up family will be about 20 members alongside me. They must have to 2 to 3
years working experience based on conventional pharmacy business. The main purpose
is to throw away the ancient thoughts of pharmacy business and to cuddle the modern
thinking likewise becoming a wholesale trade idol in this outdated business sector.

Added Value:

1. Providing remarkable services along with some proficient members.

2. Being a wholesale trader we will try to sell the medicines as much as reasonable as
we can.
3. Giving high quality services through online sectors like apps and other social networks.
4. Decreasing the rate of unemployment.
5. Promoting trustworthy business ideas which hopefully increase the trustworthiness
between the traders and the consumers.

Keys to Success:

1. Trying to get rid of the customary business concepts.

2. Using the contact of digital marketing.
3. Selling most of our products on digital platforms.
4. Improving the brand value.
5. Enhancing the percentage of new customers.
6. Using customer relationship management to keep customers.
7. Adding first class workers.
8. Trying to be an iconic business organization.
9. Keeping long term relationship with the customers.
10. Using expansion theory at one stage moreover trying to achieve familiarity with the customers.

Objectives:

1. Opening a pharmacy first.

2. Making it internet based.
3. Creating an app which will be designated as similar to the business besides using
online platforms to be communicated with the customers.
4. Go to promotions.
5. Keep prospering the original Digital Pharmacy.
6. Increasing the sales and net margin.
7. Using personal transportation system to reach customers.
8. Making efforts to become a renowned brand all over the country.
9. Concrete the current margin as well as reaching the target of net margin of sales.
10. Expand the business into other regions.

Company Summary:

The Digital Pharmacy which will be based on internet is willing to create a name-brand
for itself. It will come out with some astonishing ideas which will coaxes the customers
into different ways by providing innovative services. It will captivate the customers by
giving free transportation, 24-7 hours services, assurance of giving the right products,
reasonable pricing also many other things.
Our objectives are to provide stunning services by being one of the renown wholesale
traders which hopefully lead our business to expand even in the distant parts of our
country.

Start-up Summary:

The startup experiences contain rent, facilities, expenses on marketing, sales and promotions,
building websites, apps, making license and so on. The startup assets will be vehicles, furniture,
computers, stationaries and also many other things.

Start-up

Requirements Unit:
Start-up Expenses RMB
Legal
Rent of a building 10,000
Facilities 500,000
Marketing, sales and promotions 50,000
License 100,000
Transportation Vehicles 20,000
Others 500,000
Total Start-up Expenses: - 500,000
Start-up Assets: - 16,80,000
Cash required Start-up inventory 50,000
Other current assets 100,000
Long term assets 200,000
Total Requirements: - 20,30,000
 Start-up Funding Unit: RMB

Start-up expenses to fund 16,80,000

Start-up assets to fund 20,30,000
Total funding required: - 3,71,00,000
Assets
Non cash assets from start-up 0
Cash required from start-up 20,30,000
Additional cash required 0
Total assets: - 20,30,000
Liabilities and Capital:
Liabilities 0
Current borrowing 50000
Long term liabilities 0
Total liabilities: - 5o,000
Capital:
Total capital 16,80,000
Capital and liabilities 16,80,000
Total Funding: - 20,30,000

Location:

The location of the pharmacy will be near to Motijheel. Which is the business
capital of Bangladesh. This place could help to get easy access to the retail traders.
It will also provide a healthy environment for the workers.
Management:

Archive

This is the most basic thing. It contains personal profile, quitting time, the reason for
leaving of the daily and occasional customers. It is very important to record their contact
for further communication. The managers to communicate with them periodically so that
they can be used in the future when the business is developing.
This can help to decrease HR cost and they could be taken as the HR reserve.

Performance

For the employees who is in charge of delivering medicines. Our pharmacy will reward
them based on their sales performance moreover they can get commissions based on
the different sectors as well. Also, there will bonuses for the workers during different
types of religious and cultural festivals.
Management Software
At the beginning stage, the restaurant will develop a software which will used to manage
employees also at the same time taking orders from the customers.

The form of financing:

The start of the pharmacy will be in limited liabilities. When it will be developed into
certain large scale, it will be switched to share company which can help the pharmacy to
develop.

Financing:

A main source: The owner's money, relatives and friends. The individual person will be
regarded as the investor, they may not directly take part in the operation and
management of the company, but they will enjoy the stock dividends. Apply patent of
the product and develop technology: The pharmacy will be taken to the Institute of
Pharmacy Department of Shahjalal University of science and technology as the
technical background asking to them to help developing products and technologies,
then it could apply loans from the bank.
C) Keeping good reputation, caring about the preferential policies released by the
government: good credit and social reputation are valuable for a business. With a good
reputation, the restaurant could attract many social investors.

Conclusion:

In conclusion, the business plan for a digital pharmacy presents a promising opportunity
in the evolving healthcare industry. The increasing demand for convenient and
accessible healthcare services, coupled with the rapid advancement of digital
technologies, creates a favorable environment for the success of a digital pharmacy.

The key advantages of a digital pharmacy include:

1. Accessibility and Convenience: By operating online, a digital pharmacy can offer

24/7 access to a wide range of pharmaceutical products and services. Customers
can conveniently order medications from the comfort of their homes, saving time
and effort.
2. Expanded Reach: A digital pharmacy can overcome geographical limitations,
reaching customers in remote areas or those with limited access to traditional
brick-and-mortar pharmacies. This expanded reach can lead to increased
customer base and revenue potential.
3. Enhanced Patient Care: Through digital platforms, a pharmacy can provide
personalized medication management, patient counseling, and medication
adherence programs. These services can help improve patient outcomes and
overall healthcare quality.
4. Cost-Effective Operations: Compared to physical pharmacies, a digital pharmacy
can reduce overhead costs associated with rent, staff, and inventory
management. This cost efficiency can enable competitive pricing and potentially
attract more customers.

However, there are certain considerations to address when implementing a digital

pharmacy:

1. Regulatory Compliance: Compliance with healthcare regulations, such as

pharmacy licensing, patient data protection, and medication dispensing
guidelines, is crucial. Ensuring adherence to these regulations will build trust with
customers and regulatory authorities.
2. Technology Infrastructure: Establishing a robust and secure digital infrastructure
is essential for the smooth functioning of the digital pharmacy. This includes a
user-friendly website or app, secure online transactions, and reliable inventory
management systems.
3. Customer Trust and Education: Building trust with customers is vital in the digital
space. Providing accurate information, ensuring product authenticity, and
maintaining excellent customer service are essential to gain customer trust and
loyalty.
4. Competition and Market Differentiation: As the digital pharmacy market grows,
competition is likely to increase. Developing unique value propositions, such as
 specialized services, partnerships with healthcare providers, or niche market
targeting, can help differentiate the digital pharmacy from competitors.

In conclusion, a well-executed business plan for a digital pharmacy has the potential to
capitalize on the growing demand for accessible healthcare services. By leveraging the
benefits of digital technologies, while addressing regulatory requirements and customer
needs, a digital pharmacy can carve a successful niche in the healthcare industry and
contribute to improved patient care and convenience.