Business Plan for Med-Droid: E-commerce Pharmacy in Australian Market

This document is a detailed business plan for "Med-Droid," an e-commerce pharmacy designed to operate in the Australian market. The plan outlines the business's core operations, which include providing online medicine and pharmacy-related services through a mobile application. It details the company's marketing research, emphasizing discount pricing and multiple payment options to attract customers. The operations section covers the company's structure, including its registered office in Melbourne and the skills required for employees. The management section describes the organizational structure, key personnel, and legal structure. The financial section outlines fixed and variable costs, as well as monthly operational expenses. The plan also includes a social, environmental, and entrepreneurial (SEE) analysis, highlighting the company's commitment to corporate governance, social concerns, and environmental sustainability. The document also addresses critical risks such as competition, government regulations, and changes in consumer taste, along with a harvest strategy and milestone schedule. Finally, it provides a list of references used in the creation of the business plan.

BUSINESS
ENTREPRENEUR
Business Plan for Ecommerce in Pharmacy

Business Description
 The name of the business will be “Med-Droid” which will providing
online services associated to medicine and pharmacy related
requirement.
 The main operations of the business will be considered with
pharmacy e-commerce in the Australian market
 Main distinctiveness of the business will be seen with developing a
mobile application for the online medicine services
 The rationale for the customer choosing to buy from “Med-Droid” will
be based on the discount pricing on the medicines and multiple
options to make the payments.

Marketing Research and
Analysis
 Primary products and services offered by the company will include
Non-Prescription Drugs, B2B Wholesale and Governmental level
pharma
 The criteria set for the pricing concerning the products are depicted
after evaluating the strategic price set by “Ansell, CSL, Mesoblast,
ResMed, and Sirtex”
 The company will be able to provide discounts in most of the products
as it will buy in bulk.
 The office will be located in the Burwood, Victoria near Hawthorn.
 The strategy to advertise the pharmacy has been depicted in terms of
the providing the users with the social proof, scarcity, personalization,
anchoring and Reciprocity

Operations
 The strategy for setting the registered office of “Med-Droid” will be
based in Melbourne
 The important nature of the operational procedure for the company
will focus on receiving the orders from the ecommerce systems,
receiving the information on the orders and shipping of the products
 The general requirement of the skill set for the individuals will be
seen with strong communication skills, flexibility and market
awareness.
 Wage rates of the employee have been selected as per the average
prevailing rate in Australia particularly in the territory of Victoria

Wage Rates in Australia

Management
 The management team will be segregated into Accountant and Finance
manager, Managing Director, purchases and Sales Manager, online sales
 Key personal of the business will be further seen to manage and provide
leadership to the board of directors of the company and act as per
combination of financial control functions, operational and strategic
roles which will be aiming at long-term growth
 The legal structure of the business will comprise of the chairman at the
top position followed by the Chief Executive Officer and other board of
directors under CEO.
 The employee agreement of the company will establish a legal contract
on formal relationship between an employee and an employer.

Financial
 Fixed cost- Premises, Salaries Interest on loan @ 3.59%,
Commission paid to merchants, License, Rewards, incentives, Sales
and Marketing.
 Variable Expenses- Communication and cellular service expenses,
Promotion Expenses, Adding new features to the Website, Logo
Designs, Market survey Website Maintenance and Lease payments
 Monthly Operational Expenses- Premises, Lease payments,
Interest on loan @ 3.59%, Communication and cellular service
expenses, Promotion, Expenses and Salaries.

Social, Environmental and
Entrepreneurial (SEE)
 The corporate governance of company will be based on the several
numbers of the initiatives as per number of measures for enhancing
the relationship amongst the auditors, stakeholders and shareholders
 The nature of the business has been seen to be focusing on the old
age patients. This is identified as the main consideration for the social
concern.
 Med-Droid is committed to reduce the use of paper as much as
possible. This is conducive for the business in reducing the global
carbon foot print
 The significant nature of the entrepreneurial inventiveness will be
aimed at key focus on the old age patients, quality and delivery of
the services.

Critical Risks
 The new entrants in e-commerce is seen to be evident with more businesses
entering into this type of business. Pharmacy is no exception to this and Med-
Droid needs to ensure that it is able to source the medicines at the best price.
 There is a high possibility that the company may be facing several types of the
critical problems which will be associated to the reducing the price by the
competitors. This will create additional pressure on the company in reducing
the price even further.
 There may be several types of the legislations taken by the government which
may be directly affecting the performance of the business.
 The business cannot exclude the possibility of the Changes in the consumer
taste and societal demands.
 The intellectual property rights of the business are considered as the main risk
associated to the licensing of the products and services

Harvest Strategy
 In an act of liquidity, the company will main focus on execution of the
business. This will be ensured by remaining steadfast in terms of the
achievement and execution of the business objectives.
 The important considerations for the transition planning will be
focused on the planning for emergency situations.
 The company will initially float the shares to the public with the issue
of the stock to early investors. These will be considered with floating
the shares among the founder, family members and friends.
 The intellectual property rights of the company will be able to include
licensing of the IP as per important nature of the consideration of the
patents and license.

Milestone Schedule

References
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