Financial Requirements for a Pharmacy are as follows:
Startup Capital:
Registration & Licensing: Legal fees for establishing the business.
Inventory: Initial stock of medications and retail items.
Equipment: Computers, dispensing tools, and security systems.
Operating Expenses:
Rent/Mortgage: Cost of the physical location.
Utilities: Electricity, water, internet, etc.
Insurance: Liability, property, and professional indemnity coverage.
Salaries: Pay for pharmacists, technicians, and staff.
Marketing: Costs to attract and retain customers.
Software Maintenance: Ongoing tech and system upkeep.
Financial Management:
Budgeting: Planning revenue and expenses.
Accounting: Accurate financial records.
Inventory Management: Optimizing stock levels.
Cash Flow: Maintaining liquidity for daily operations.