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Compounding Pharmacy Business Plan Example
Below is our compounding pharmacy business plan template and sample plan created using what we consider the best ai business plan generator:
I. Executive Summary
Company Overview
MediMix Pharmacy is a newly established Compounding Pharmacy in Pembroke Pines, FL, dedicated to filling a significant market gap by offering high-quality, personalized healthcare solutions. Our services, including Bio-identical Hormone Therapy (BHRT), veterinary medications, dermatological preparations, and allergy-friendly medications, are tailored to meet the unique health requirements of our customers and their families, including pets. With our location in Pembroke Pines, we are well-positioned to serve our community, providing exceptional service and support and committing ourselves to the well-being of the residents.
Success Factors
MediMix Pharmacy distinguishes itself as a leader in the compounding pharmacy sector, thanks to our founder’s extensive experience and our expertise in creating customized medications. Our accomplishments since our inception on January 5, 2024, include designing our logo, developing our company name, and securing a prime location for our operations. These successes mark our journey towards becoming the preferred compounding pharmacy in Pembroke Pines, FL. We are excited about our future and committed to offering high-quality, personalized healthcare solutions to our community.
Industry Analysis
The pharmaceutical industry is witnessing a growing demand for personalized medicine, including compounding pharmacy services. This trend is driven by an increasing awareness of individual health needs and a desire for medications tailored to specific patient requirements. Compounding pharmacies, like MediMix Pharmacy, play a crucial role in meeting this demand by offering customized medication solutions. The industry’s growth is also fueled by advancements in technology and a focus on patient-centered care, positioning compounding pharmacies for significant opportunities in healthcare.
Customer Analysis
Our target customers include individuals seeking personalized healthcare solutions that mainstream pharmacies cannot provide. This includes patients with specific medication allergies, pets requiring customized dosages, and individuals needing bio-identical hormone replacement therapy. Our focus is on understanding and meeting the unique needs of these diverse customer groups, ensuring that our services cater to the health requirements of each individual, their families, and their pets, thereby fostering a loyal customer base in Pembroke Pines and surrounding areas.
Competitive Analysis
While MediMix Pharmacy faces competition from other local and chain pharmacies, our unique value proposition lies in our personalized service and expertise in compounding medications. Our competitors may offer similar services, but our focus on customized healthcare solutions, combined with our founder’s extensive experience and our commitment to allergy-friendly medication options, sets us apart. Our competitive advantages enable us to meet the specific needs of our customers more effectively than our competitors.
Marketing Plan
MediMix Pharmacy’s marketing strategy emphasizes a blend of online marketing and community engagement. We plan to establish a strong social media presence, launch an informative website optimized for search engines, and engage in email marketing to communicate directly with our customers. Our promotional efforts will also extend to participating in local health fairs, sponsoring community events, and offering free health screenings, demonstrating our commitment to community well-being. A loyalty program will reward repeat customers, further distinguishing us from competitors and fostering customer loyalty.
Operations Plan
Our operations plan focuses on key processes vital to delivering personalized medication solutions, including compounding processes, customer service, and quality control. We aim to achieve key milestones such as obtaining necessary certifications, establishing supplier relationships, and implementing a training program for our staff to ensure excellence in service delivery. These operational elements are crucial for meeting our goal of becoming the leading compounding pharmacy in Pembroke Pines, FL.
Management Team
The management team at MediMix Pharmacy is composed of experienced professionals with a deep understanding of pharmacy operations and customer service. Our team’s expertise is instrumental in guiding the strategic direction of the pharmacy, ensuring that we meet our objectives and deliver on our promise of providing personalized healthcare solutions to our community.
Financial Plan
To achieve our growth goals, MediMix Pharmacy requires significant investment in operations, marketing, and staffing. Our financial plan is designed to secure the necessary funding to support these activities, ensuring that we can provide the high-quality, personalized services that our customers expect and deserve.
Summary
Below is an overview of our expected financial performance over the next five years:
| FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | |
|---|---|---|---|---|---|
| Revenues | $3,091,639 | $3,347,720 | $3,625,012 | $3,925,272 | $4,250,403 |
| Direct Expenses | $1,834,032 | $1,927,467 | $2,025,662 | $2,128,861 | $2,237,316 |
| Gross Profit | $1,257,607 | $1,420,252 | $1,599,349 | $1,796,411 | $2,013,087 |
| Gross Profit (%) | 40.7% | 42.4% | 44.1% | 45.8% | 47.4% |
| Other Expenses | $97,085 | $100,030 | $103,065 | $106,192 | $109,414 |
| EBITDA | $1,160,521 | $1,320,221 | $1,496,283 | $1,690,219 | $1,903,672 |
| Depreciation | $46,000 | $46,000 | $46,000 | $46,000 | $46,000 |
| Amortization | $0 | $0 | $0 | $0 | $0 |
| Interest Expense | $41,000 | $41,000 | $41,000 | $41,000 | $41,000 |
| Income Tax Expense | $375,732 | $431,627 | $493,249 | $561,126 | $635,835 |
| Net Income | $697,789 | $801,594 | $916,034 | $1,042,092 | $1,180,837 |
II. Company Overview
MediMix Pharmacy is a new Compounding Pharmacy proudly serving the community of Pembroke Pines, FL. As a local compounding pharmacy, we’ve identified a significant gap in the market – the lack of high-quality local compounding pharmacies. Our commitment is to fill this void by providing personalized healthcare solutions that cater to the specific needs of our customers.
At MediMix Pharmacy, our product and service offerings are designed with our customers’ unique health requirements in mind. We specialize in customized medications, offering a range of services including Bio-identical Hormone Therapy (BHRT), veterinary medications for your pets, dermatological preparations, and allergy-friendly medications. Our focus is on delivering personalized care and medication that perfectly suits the needs of each individual customer and their families, including their pets.
Our home base in Pembroke Pines, FL, positions us perfectly to serve the residents of our community. We are deeply invested in the well-being of Pembroke Pines and are committed to providing exceptional service and support to our customers in this area.
MediMix Pharmacy stands out as a leader in the compounding pharmacy sector for several reasons. Our founder brings a wealth of experience from successfully running a previous compounding pharmacy, setting a solid foundation for MediMix Pharmacy. Moreover, our unparalleled expertise in creating better customized medications, our comprehensive Bio-identical Hormone Therapy (BHRT) solutions, and our dedication to producing more allergy-friendly medications distinguish us from our competitors. These factors collectively ensure that we are uniquely qualified to meet the healthcare needs of our customers.
Since our inception on January 5, 2024, MediMix Pharmacy has achieved significant milestones as a S Corporation. We’ve successfully designed our logo, developed our company name, and found a prime location for our operations. These accomplishments mark the beginning of our journey to becoming the go-to compounding pharmacy in Pembroke Pines, FL. We are excited about the future and look forward to serving our community with high-quality, personalized healthcare solutions.
III. Industry Analysis
The Compounding Pharmacy industry in the United States is currently estimated to be worth around $5 billion. This market size is expected to grow at a steady rate in the coming years, driven by factors such as increasing demand for personalized medicine, rising prevalence of chronic diseases, and advancements in pharmaceutical compounding technology.
One of the key trends in the Compounding Pharmacy industry is the growing popularity of customized medications tailored to individual patient needs. This trend bodes well for new players in the market like MediMix Pharmacy, as it positions them to capitalize on the increasing demand for personalized healthcare solutions. By offering a wide range of compounded medications and personalized services, MediMix Pharmacy is well-positioned to attract and retain customers in Pembroke Pines, FL.
Another trend in the Compounding Pharmacy industry is the emphasis on quality and safety standards in compounding practices. With increasing regulatory oversight and consumer awareness regarding the importance of quality assurance in compounded medications, pharmacies like MediMix Pharmacy have the opportunity to differentiate themselves by adhering to strict quality control measures and providing safe and effective compounded medications to their customers.
IV. Customer Analysis
Below is a description of our target customers and their core needs.
Target Customers
MediMix Pharmacy will target local residents in Pembroke Pines, FL, as our primary customer base. These individuals often seek personalized medication solutions that commercial pharmacies cannot provide. We will tailor our services to meet the unique health needs of this diverse community, ensuring accessibility and convenience for all our customers.
We will also focus on patients with specific medical conditions that require customized medication formulations. This includes individuals with allergies to certain commercial medication fillers, patients requiring unique dosage forms, and those who need medications that are not readily available on the market. Our compounding services will offer them the precise treatment solutions prescribed by their healthcare providers.
Additionally, MediMix Pharmacy will target veterinarians and pet owners. Compounded medications can be essential for treating animals, as they often require different dosages and flavors to ensure compliance. By offering veterinary compounding services, we will provide invaluable support to the pet care community in Pembroke Pines, ensuring that pets receive the tailored treatments they need for a variety of conditions.
Customer Needs
MediMix Pharmacy meets the critical need for high-quality compounding medications, catering to residents who require tailor-made pharmaceutical solutions. Patients with specific health requirements often find that mass-produced medications do not suit their needs. This pharmacy steps in to provide personalized formulations, ensuring that each individual can receive medication that is as unique as their health condition.
Additionally, MediMix Pharmacy addresses the demand for expert consultation and advice on compounded medications. Customers expect not just bespoke prescriptions but also guidance on how to effectively integrate these medications into their treatment plans. The pharmacists at MediMix are knowledgeable and dedicated to assisting patients in understanding their medications, offering a level of service that goes beyond the mere dispensing of drugs.
Another essential customer need that MediMix Pharmacy fulfills is accessibility to a wide range of compounding services. From pediatric to geriatric care, and from veterinary to dermatological applications, they can cater to a diverse clientele. This inclusivity ensures that every member of the community has access to the specialized care they require, making MediMix Pharmacy a vital healthcare resource in their area.
V. Competitive Analysis
Direct Competitors
MediMix Pharmacy’s competitors include the following companies:
Emerald Hills Pharmacy
Emerald Hills Pharmacy specializes in compounding services tailored to individual patient needs, including hormone replacement therapy, pediatric formulations, and dermatological preparations. They offer a wide range of over-the-counter products, vitamins, and supplements. Price points at Emerald Hills Pharmacy are competitive, aiming to provide affordable options for both compounded and standard pharmaceuticals.
Emerald Hills Pharmacy operates primarily in a single location within a dense residential area, making it easily accessible to local customers. The pharmacy serves a diverse customer segment, focusing on individuals seeking personalized medication solutions and wellness products. Their key strength lies in their personalized customer service and the ability to formulate medications for specific patient needs. However, a limitation is their reliance on a single location, which may restrict access for customers living farther away.
Village Pharmacy & Compounding
Village Pharmacy & Compounding offers a broad spectrum of compounding services including veterinary, pediatric, and hormone replacement therapies. They also provide a selection of health and wellness products, medical supplies, and over-the-counter medications. Their pricing strategy is designed to cater to a broad customer base, offering competitive rates for both compounded and standard pharmaceutical products.
Located in a community-centric area, Village Pharmacy & Compounding seeks to serve not only the immediate neighborhood but also the wider region through mail orders. They cater to multiple customer segments, including patients requiring specialized medication formulations, pet owners looking for veterinary compounding, and health-conscious individuals. The pharmacy’s strength lies in its comprehensive service offering and community focus, but it faces challenges in scaling its operations beyond the local community due to limited marketing reach.
Medica Pharmacy & Compounding
Medica Pharmacy & Compounding provides a wide array of compounding services, focusing on bio-identical hormone replacement therapy, pediatric compounding, and customized dermatological creams. In addition to compounding, they offer traditional pharmacy services, including prescription filling and over-the-counter medications. Their prices are set to be competitive while ensuring high-quality service and products.
With multiple locations across the region, Medica Pharmacy & Compounding is accessible to a broad geographic customer base. They target a wide array of customer segments, including those looking for specialized compounding services, general pharmacy needs, and wellness products. A key strength of Medica Pharmacy is its ability to reach a wide audience through its multiple locations and comprehensive service offering. However, this expansion also presents a challenge in maintaining consistent quality and personalized service across all branches.
Competitive Advantages
At MediMix Pharmacy, we pride ourselves on our ability to provide better customized medications tailored to meet the unique needs of each of our customers. Our expertise in compounding allows us to create specific formulations that are not available in conventional pharmacies, giving us a distinct edge in personalized healthcare. Furthermore, we specialize in Bio-identical Hormone Replacement Therapy (BHRT), offering a natural alternative for hormone management that aligns closely with the body’s biological systems. This specialization not only sets us apart from the competition but also ensures that our customers receive treatments that are specifically designed for their individual health requirements.
In addition to our customized medication solutions and BHRT, we also excel in providing more allergy-friendly medications. Understanding the challenges that individuals with allergies face, we meticulously prepare medications that are free from common allergens, thereby minimizing the risk of allergic reactions. This consideration extends our competitive advantage, as we cater to a segment of the population that often struggles to find suitable medication options. By focusing on these key areas, we are not just a pharmacy but a comprehensive health partner that genuinely cares about the well-being of our customers. Our commitment to personalized care, combined with our expertise in compounding and allergy-friendly solutions, positions MediMix Pharmacy as a leader in health and wellness within our community.
VI. Marketing Plan
Our marketing plan, included below, details our products/services, pricing and promotions plan.
Products, Services & Pricing
At MediMix Pharmacy, customers can find a broad array of specialized compounding services tailored to meet their unique health needs. One of the cornerstone offerings of this pharmacy is Customized Medications. These medications are specially formulated to align with the patient’s specific requirements, including dosage, form, and even flavor. The average selling price for Customized Medications typically starts around $45, varying based on the complexity and ingredients required.
Bio-identical Hormone Replacement Therapy (BHRT) is another critical service provided. BHRT is designed to offer a natural solution for those experiencing hormonal imbalances. By using hormones that are chemically identical to those the body naturally produces, patients can achieve a more balanced hormonal state. The cost for BHRT preparations begins at approximately $55, reflecting the personalized nature and the specific hormones used in each compound.
For pet owners seeking tailored healthcare solutions for their furry friends, MediMix Pharmacy offers Veterinary Medications. These compounds are specially designed to address the unique health requirements of animals, spanning from flavor adjustments to ensure ease of administration to dosage modifications for different sizes and species. Prices for Veterinary Medications start at around $35, a reflection of the customized care provided to each animal.
Dermatological Preparations are also a significant part of the pharmacy’s offerings, providing targeted treatments for a variety of skin conditions. These preparations are formulated to match the specific needs of the patient’s skin, whether it’s for hydration, treatment of acne, psoriasis, or eczema. The starting price for Dermatological Preparations is roughly $50, depending on the active ingredients and the formulation complexity.
Lastly, MediMix Pharmacy caters to individuals with allergies or sensitivities through their Allergy-Friendly Medications. This service ensures that patients receive medications free from allergens such as gluten, lactose, or specific dyes and preservatives. Prices for these specialized medications begin at $40, offering peace of mind and safety for those with specific health concerns.
Overall, MediMix Pharmacy stands out for its dedication to providing personalized healthcare solutions. By offering a wide range of compounding services, they ensure that each patient’s unique health needs are met, all while maintaining a focus on quality and safety.
Promotions Plan
At MediMix Pharmacy, we recognize the importance of implementing a robust promotional strategy to attract and retain customers in the competitive market of Pembroke Pines, FL. To achieve this, we will leverage a variety of promotional methods, with a significant focus on online marketing, while also incorporating traditional and innovative approaches to ensure a comprehensive reach.
Online marketing will serve as the cornerstone of our promotional efforts. We will establish a strong presence on social media platforms, including Facebook, Instagram, and Twitter, to engage with our community, share health tips, and promote our unique compounding services. Through targeted advertising on these platforms, we expect to increase our visibility among potential customers who are seeking personalized medication solutions. Additionally, we will launch an informative and user-friendly website that highlights our services, staff qualifications, and customer testimonials. An SEO strategy will ensure that when potential customers search for compounding pharmacies in Pembroke Pines, FL, MediMix Pharmacy appears at the top of their search results.
Email marketing will complement our online efforts, allowing us to send personalized promotions, health tips, and updates about our services directly to our customers’ inboxes. This direct line of communication will help build strong relationships and keep our pharmacy at the forefront of our customers’ minds.
Beyond the digital realm, we will engage in community outreach by participating in local health fairs, sponsoring community events, and offering free health screening days at our pharmacy. These efforts will not only increase our visibility but also demonstrate our commitment to the health and well-being of our community. Networking with local healthcare providers will also be a priority, as referrals from doctors and clinics are invaluable for a compounding pharmacy like ours.
To further differentiate MediMix Pharmacy from competitors, we will launch a loyalty program that rewards customers for their repeat business. This program will offer discounts, special offers, and exclusive health tips, encouraging customers to choose us for all their compounding needs.
In conclusion, MediMix Pharmacy will employ a multifaceted promotional strategy that combines the reach and precision of online marketing with the personal touch of community engagement and direct outreach. By doing so, we expect to establish a strong brand presence in Pembroke Pines, FL, and build lasting relationships with our customers.
VII. Operations Plan
Our Operations Plan details:
- The key day-to-day processes that our business performs to serve our customers
- The key business milestones that our company expects to accomplish as we grow
Key Operational Processes
To ensure the success of MediMix Pharmacy, there are several key day-to-day operational processes that we will perform.
- Prescription Management: Efficiently receive, review, and process prescriptions from patients and healthcare providers. This includes verifying each prescription for accuracy, legality, and potential drug interactions.
- Compounding: Precisely compound medications according to individual prescriptions, ensuring each compound meets the required specifications for dosage, form, and flavor.
- Quality Control: Implement rigorous quality control measures to ensure that all compounded medications meet or exceed industry standards. This includes regular testing of ingredients and final products.
- Inventory Management: Maintain an accurate and up-to-date inventory of all raw materials, supplies, and finished products. This includes ordering new supplies before stocks run low and safely disposing of expired or unused items.
- Customer Service: Provide exceptional customer service, including consultation on medications, managing refill requests, and addressing any concerns or questions from patients. Ensuring patient satisfaction is a priority.
- Regulatory Compliance: Adhere to all local, state, and federal regulations governing compounding pharmacies. This includes maintaining proper records, ensuring the cleanliness and safety of the compounding environment, and properly training staff.
- Staff Training and Development: Regularly train staff on the latest compounding techniques, customer service practices, and regulatory changes. Encouraging continuous learning and improvement is key to maintaining high standards of service.
- Marketing and Outreach: Actively market the pharmacy’s services to potential customers and healthcare providers through various channels, including social media, local advertising, and community involvement. Building strong relationships with local healthcare providers can also ensure a steady stream of referrals.
- Financial Management: Carefully manage the pharmacy’s finances, including billing, insurance claims processing, and budgeting. Efficient financial management ensures the pharmacy remains profitable and can continue to invest in quality improvement.
- Feedback and Improvement: Regularly solicit feedback from customers and staff to identify areas for improvement. Implement changes based on feedback to continuously enhance the quality of service and patient care.
Milestones
MediMix Pharmacy expects to complete the following milestones in the coming months in order to ensure its success:
- Secure Location and Necessary Zoning Approvals: Finding a strategic location within Pembroke Pines, FL that is accessible to our target customers and obtaining all necessary zoning approvals for a compounding pharmacy operation.
- Obtain Licenses and Accreditation: Successfully applying for and receiving all relevant state and federal pharmacy licenses, as well as any specific compounding accreditation needed (e.g., PCAB – Pharmacy Compounding Accreditation Board), to legally and effectively operate.
- Build Out and Equip Pharmacy: Completing the physical setup of the pharmacy, including any renovations required, purchasing and installing all necessary compounding equipment and technology systems for operations, inventory management, and customer service.
- Hire and Train Staff: Recruiting and hiring a qualified team including pharmacists skilled in compounding, pharmacy technicians, and customer service staff, followed by comprehensive training on compounding techniques, customer service protocols, and compliance with healthcare regulations.
- Establish Supply Chain Relationships: Securing reliable suppliers for pharmaceutical ingredients and materials necessary for compounding, ensuring quality and compliance with regulations, and negotiating terms that support cost-effective operations.
- Launch Marketing and Outreach Campaigns: Initiating targeted marketing efforts to build brand awareness in the Pembroke Pines area, including digital marketing, community outreach, and partnerships with local healthcare providers to drive initial customer base growth.
- Implement Compliance and Quality Control Systems: Establishing stringent compliance protocols and quality control measures to ensure all compounded medications meet or exceed regulatory standards and patient safety is prioritized.
- Launch Our Compounding Pharmacy: Officially opening MediMix Pharmacy to the public, with all operational, legal, and marketing systems in place to serve customers and accept prescriptions.
- Monitor and Adapt Business Operations: Continuously analyzing operational data, customer feedback, and financial performance to identify areas for improvement, adapt business strategies, and ensure customer satisfaction and loyalty.
- Achieve $15,000/Month in Revenue: Reaching the financial milestone of generating at least $15,000 per month in revenue, which would indicate a growing customer base and a positive reception of the pharmacy’s services in the market.
VIII. Management Team
Our management team has the experience and expertise to successfully execute on our business plan.
Management Team Members
MediMix Pharmacy management team, which includes the following members, has the experience and expertise to successfully execute on our business plan:
Ayla Reyes, CEO
Ayla Reyes brings a robust and dynamic leadership style to MediMix Pharmacy, marked by a track record of undeniable success in the pharmaceutical industry. Her previous experience in running a compounding pharmacy has equipped her with a deep understanding of the complexities and nuances of pharmacy operations, regulatory compliance, and patient-centered care. With a keen eye for innovation and a steadfast commitment to quality, Reyes’s leadership is poised to steer MediMix Pharmacy toward a future of growth, resilience, and excellence in healthcare solutions. Her strategic vision and operational expertise are indispensable assets for MediMix Pharmacy as it aims to achieve lasting success and redefine the standards of personalized medicine.
IX. Financial Plan
Summary
Below is an overview of our expected financial performance over the next five years:
| FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | |
|---|---|---|---|---|---|
| Revenues | $3,091,639 | $3,347,720 | $3,625,012 | $3,925,272 | $4,250,403 |
| Direct Expenses | $1,834,032 | $1,927,467 | $2,025,662 | $2,128,861 | $2,237,316 |
| Gross Profit | $1,257,607 | $1,420,252 | $1,599,349 | $1,796,411 | $2,013,087 |
| Gross Profit (%) | 40.7% | 42.4% | 44.1% | 45.8% | 47.4% |
| Other Expenses | $97,085 | $100,030 | $103,065 | $106,192 | $109,414 |
| EBITDA | $1,160,521 | $1,320,221 | $1,496,283 | $1,690,219 | $1,903,672 |
| Depreciation | $46,000 | $46,000 | $46,000 | $46,000 | $46,000 |
| Amortization | $0 | $0 | $0 | $0 | $0 |
| Interest Expense | $41,000 | $41,000 | $41,000 | $41,000 | $41,000 |
| Income Tax Expense | $375,732 | $431,627 | $493,249 | $561,126 | $635,835 |
| Net Income | $697,789 | $801,594 | $916,034 | $1,042,092 | $1,180,837 |
Funding Requirements/Use of Funds
To accomplish our growth goals, MediMix Pharmacy needs $410,000 in funding. Key uses of this funding will be as follows:
| Capital Investments | |
|---|---|
| Location Buildout | $50,000 |
| Furniture | $20,000 |
| Equipment | $100,000 |
| Machines | $50,000 |
| Computers | $10,000 |
| Non Capital Investments | |
|---|---|
| Working Capital | $50,000 |
| Initial Rent/Lease | $20,000 |
| Staff Salaries for the First 3 Months | $90,000 |
| Initial Marketing and Advertising | $10,000 |
| Supplies | $5,000 |
| Insurance | $5,000 |
Financial Projections
5 Year Annual Income Statement
| FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
|---|---|---|---|---|---|---|
| Revenues | ||||||
| Revenues | $3,091,639 | $3,347,720 | $3,625,012 | $3,925,272 | $4,250,403 | |
| Total Revenues | $3,091,639 | $3,347,720 | $3,625,012 | $3,925,272 | $4,250,403 | |
| Direct Costs | ||||||
| Direct Costs | $1,834,032 | $1,927,467 | $2,025,662 | $2,128,861 | $2,237,316 | |
| Total Direct Costs | $1,834,032 | $1,927,467 | $2,025,662 | $2,128,861 | $2,237,316 | |
| GROSS PROFIT | $1,257,607 | $1,420,252 | $1,599,349 | $1,796,411 | $2,013,087 | |
| GROSS PROFIT % | 40.7% | 42.4% | 44.1% | 45.8% | 47.4% | |
| Other Expenses | ||||||
| Salaries | $72,814 | $75,023 | $77,299 | $79,644 | $82,060 | |
| Marketing Expenses | $6,067 | $6,251 | $6,441 | $6,637 | $6,838 | |
| Rent/Utility Expenses | $6,067 | $6,251 | $6,441 | $6,637 | $6,838 | |
| Other Expenses | $12,135 | $12,503 | $12,883 | $13,274 | $13,676 | |
| Total Other Expenses | $97,085 | $100,030 | $103,065 | $106,192 | $109,414 | |
| EBITDA | $1,160,521 | $1,320,221 | $1,496,283 | $1,690,219 | $1,903,672 | |
| Depreciation | $46,000 | $46,000 | $46,000 | $46,000 | $46,000 | |
| Amortization | $0 | $0 | $0 | $0 | $0 | |
| EBIT | $1,114,521 | $1,274,221 | $1,450,283 | $1,644,219 | $1,857,672 | |
| Interest Expense | $41,000 | $41,000 | $41,000 | $41,000 | $41,000 | |
| PRETAX INCOME | $1,073,521 | $1,233,221 | $1,409,283 | $1,603,219 | $1,816,672 | |
| Net Operating Loss | $0 | $0 | $0 | $0 | $0 | |
| Use of Net Operating Loss | $0 | $0 | $0 | $0 | $0 | |
| Taxable Income | $1,073,521 | $1,233,221 | $1,409,283 | $1,603,219 | $1,816,672 | |
| Income Tax Expense | $375,732 | $431,627 | $493,249 | $561,126 | $635,835 | |
| NET INCOME | $697,789 | $801,594 | $916,034 | $1,042,092 | $1,180,837 | |
| Net Profit Margin (%) | 22.6% | 23.9% | 25.3% | 26.5% | 27.8% |
5 Year Annual Balance Sheet
| FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
|---|---|---|---|---|---|---|
| ASSETS | ||||||
| Cash | $822,290 | $1,656,084 | $2,602,908 | $3,680,658 | $4,479,707 | |
| Other Current Assets | $265,375 | $287,356 | $311,157 | $327,106 | $354,200 | |
| Total Current Assets | $1,087,666 | $1,943,440 | $2,914,066 | $4,007,764 | $4,833,908 | |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | |
| Acc Amortization | $0 | $0 | $0 | $0 | $0 | |
| Net Intangibles | $0 | $0 | $0 | $0 | $0 | |
| Fixed Assets | $230,000 | $230,000 | $230,000 | $230,000 | $230,000 | |
| Accum Depreciation | $46,000 | $92,000 | $138,000 | $184,000 | $230,000 | |
| Net fixed assets | $184,000 | $138,000 | $92,000 | $46,000 | $0 | |
| Preliminary Exp | $0 | $0 | $0 | $0 | $0 | |
| TOTAL ASSETS | $1,271,666 | $2,081,440 | $3,006,066 | $4,053,764 | $4,833,908 | |
| LIABILITIES & EQUITY | ||||||
| Current Liabilities | $163,876 | $172,057 | $180,648 | $186,254 | $195,560 | |
| Debt outstanding | $410,000 | $410,000 | $410,000 | $410,000 | $0 | |
| Total Liabilities | $573,876 | $582,057 | $590,648 | $596,254 | $195,560 | |
| Share Capital | $0 | $0 | $0 | $0 | $0 | |
| Retained earnings | $697,789 | $1,499,383 | $2,415,417 | $3,457,510 | $4,638,347 | |
| Total Equity | $697,789 | $1,499,383 | $2,415,417 | $3,457,510 | $4,638,347 | |
| TOTAL LIABILITIES & EQUITY | $1,271,666 | $2,081,440 | $3,006,066 | $4,053,764 | $4,833,908 |
5 Year Annual Cash Flow Statement
| FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
|---|---|---|---|---|---|---|
| CASH FLOW FROM OPERATIONS | ||||||
| Net Income (Loss) | $697,789 | $801,594 | $916,034 | $1,042,092 | $1,180,837 | |
| Change in Working Capital | ($101,498) | ($13,800) | ($15,209) | ($10,342) | ($17,787) | |
| Plus Depreciation | $46,000 | $46,000 | $46,000 | $46,000 | $46,000 | |
| Plus Amortization | $0 | $0 | $0 | $0 | $0 | |
| Net Cash Flow from Operations | $642,290 | $833,793 | $946,824 | $1,077,749 | $1,209,049 | |
| CASH FLOW FROM INVESTMENTS | ||||||
| Fixed Assets | ($230,000) | $0 | $0 | $0 | $0 | |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | |
| Net Cash Flow from Investments | ($230,000) | $0 | $0 | $0 | $0 | |
| CASH FLOW FROM FINANCING | ||||||
| Cash from Equity | $0 | $0 | $0 | $0 | $0 | |
| Cash from Debt financing | $410,000 | $0 | $0 | $0 | ($410,000) | |
| Net Cash Flow from Financing | $410,000 | $0 | $0 | $0 | ($410,000) | |
| Net Cash Flow | $822,290 | $833,793 | $946,824 | $1,077,749 | $799,049 | |
| Cash at Beginning of Period | $0 | $822,290 | $1,656,084 | $2,602,908 | $3,680,658 | |
| $822,290 | $1,656,084 | $2,602,908 | $3,680,658 | $4,479,707 |
What Is a Compounding Pharmacy Business Plan?
A compounding pharmacy business plan is a document that outlines the strategies you have developed to start and/or grow your compounding pharmacy business. Among other things, it details information about your industry, customers and competitors to help ensure your company is positioned properly to succeed. Your compounding pharmacy business plan also assesses how much funding you will need to grow your business and proves, via your financial forecasts, why the business is viable.
Why You Need a Business Plan for your Compounding Pharmacy Business
A business plan is required if you are seeking funding for your compounding pharmacy business. Investors and lenders will review your plan to ensure it meets their criteria before providing you with capital. In addition, a compounding pharmacy business plan helps you and your team stay focused. It documents the strategies you must follow and gives you financial projections you should strive to achieve and against which you can judge your performance.
Compounding Pharmacy Business Plan Template PDF
Download our Compounding Pharmacy Business Plan PDF to help guide you as you create your business plan for your own compounding pharmacy business.
