Pharmacy Business Plan Template

Written by Dave Lavinsky

Pharmacy Business Plan

If you want to start an independent pharmacy or expand your current one, you need a business plan.

Over the past 20+ years, we have helped over 5,000 entrepreneurs and business owners create business plans to start and grow their pharmacy businesses.

How To Write a Business Plan For A Pharmacy

Below are links to each section of a business plan for a pharmacy business providing a template for you to write your own.

  1. Executive Summary – The Executive Summary of your pharmacy business plan should provide an overview of your business concept, key objectives of your business, and a snapshot of the market opportunity.
  2. Company Overview – The Company Overview section should provide an overview of your company, including history, mission statement, legal structure, retail space, and any relevant information about the pharmacy services and prescription drugs you will offer.
  3. Industry Analysis – The Industry Analysis section should describe the pharmacy industry and market trends, including size, growth, and major players.
  4. Customer Analysis – The Customer Analysis section should describe your target market, including their demographics, needs, and buying habits.
  5. Competitive Analysis – This section should describe the competitive landscape in your local market, including major players such as national chains and other local pharmacies, market share, and any unique selling points (i.e., superior customer service, health screenings, other service offerings).
  6. Marketing Plan – The Marketing Plan section should describe how you will build brand awareness and attract local customers, including your marketing and sales strategy for developing a loyal customer base and a competitive pricing strategy for over-the-counter drugs and prescription medications.
  7. Operations Plan – The Operations Plan section should describe how your pharmacy will operate, including details on facilities, equipment, inventory, and security.
  8. Management Team – The Management Team section should describe the management team, including bios and experience of the pharmacy owner, lead pharmacist, and any other licensed pharmacists. Depending on your management structure, you may also include information about the pharmacy technicians on staff.
  9. Financial Plan – The Financial Plan section should include 5-year financial projections, including financial statements such as the income statement, projected balance sheet, and cash flow statement.
  10. Appendix – The Appendix should include any supporting materials, such as market research, competitive analysis, customer surveys, etc.

Start Your Pharmacy Business Plan Here

Pharmacy Business Plan FAQs

You can download our pharmacy business plan PDF template. We also provide a sample pharmacy business plan that you can use to write your own pharmacy business plan.

A business plan provides a snapshot of your pharmacy as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.

If you’re looking to start a pharmacy or grow your existing pharmacy you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your pharmacy in order to improve your chances of success. Your plan is a living document that should be updated annually as your business grows and changes.

Independent pharmacies are usually funded through small business loans, personal savings, credit card financing and/or angel investors.