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Isabella’s Apothecary, LLCA Pharmacy For Women by Women
“Making a difference…one woman at a time”
Presented By:Kathryn Jones
Alexandra Centeno
Christina Ramsay
Liliana Yohonn
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Our Mission
“To provide patients with superior quality pharmaceutical care unmatched in the industry…focused on the individuality of each patient’s needs…..”
1. Obtain the best and most ambitious personnel in the area of pharmacy to be the backbone of Isabella’s Apothecary
2. Offer products and services to meet and exceed the needs of the Pittsford community effectively
3. Utilize efficient inventory control methods to reduce costs and maximize profits
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Legal Description of Business
Privately owned and operated Limited Liability Corporation
Junior Partnership Agreement with Twelve Corners Apothecary
Modern Retail Pharmacy tailored to the needs of Women with Extended Service-based products
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Isabella’sLimited Liability Corporation
BenefitsLimited Personal Liability
Protection of personal assetsLiable for fixed investment
Opportunity for Equal Profit Sharing
Pass through Taxation
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Insurance
General Liability Insurance
- protection against injury claims, property damage, advertising claims, etc…
Business Interruption Insurance
Professional Liability insurance- each individual pharmacist will be responsible for her own Liability Insurance
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Junior PartnershipTwelve Corners Apothecary
Gives Isabella’s Apothecary access to specialized compounding equipment and space
Avoids third party billing when reimbursement is minimal
Turns a potential threat into a Partner!
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Supervising PharmacistKathryn Jones, PharmD
MTM Specialist & Student Intern PreceptorAlexandra Centeno, PharmD
Technicians
Marketing Specialist & Field PharmacistChristina Ramsay, PharmD
Technicians
Supervising PharmacistLiliana Yohonn, PharmD
Sales Associates
12 Corners Apothecary Isabella’s Apothecary
Interns
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Isabella’s Apothecary, LLC
Product Overview
Isabella’s Apothecary, LLC
Product Overview
12 Corners Apothecary:Focus: Complex compounding
Compounded Prescriptions* Veterinary CompoundingVitamins/SupplementsHormone Therapy
Durable Medical Equipment
12 Corners Apothecary:Focus: Complex compounding
Compounded Prescriptions* Veterinary CompoundingVitamins/SupplementsHormone Therapy
Durable Medical Equipment
Isabella’s Apothecary at 4 Corners:Focus: Retail RxOTC products
Durable Medical EquipmentHealth, Beauty and Cosmetics
Basic compoundsVitamin/Supplements
Isabella’s Apothecary at 4 Corners:Focus: Retail RxOTC products
Durable Medical EquipmentHealth, Beauty and Cosmetics
Basic compoundsVitamin/Supplements
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Isabella’s Services
“At Isabella’s Apothecary the patient always comes first”
Chronic Disease Management and educationDisease prevention educationCounseling Services offered in both English and SpanishMedication Therapy ManagementHormone Therapy and Saliva TestingInfertility Therapy
Nutrition Consultation and Weight ManagementHerbal Medicine ConsultationMonthly meetings and SeminarsImmunization servicesWebsite ServicesDeliveryPatient Charge AccountsPrescription Filling
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Location, Location, Location
Total Space: 1,129 sq ftRental Space: $2,700/ month
Security: External and Internal Securities will meet requirements of NYS and Federal Laws and will be implemented by a security consultant
Four Corners IntersectionPittsford, NY
Main corner in business district of an upscale suburb Street exposureParking easily accessibleLocated along Bus RouteBuilding shared with Lauren’s Salon
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Physical Description of the Business
OTC
OTC
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OTC
OTC
Medication Bay
Medication Bay
Medication Bay
Medication Bay
Medication Bay
Will-
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Media & Books
ROUTE 31- MONROE AVENUE
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96-
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PharmacistStation
Private Counseling Room
Com
poundingStation
Refrigerator
Cabinet for
Storage
OTC
OTC
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Marketing Plan
Target Market Female Baby Boomers (age 40 – 58)Pittsford, NY23,731 females in this market within 5 miles of Isabella’s
399.9250Physicians per cap$88,232$46,326Median household income40.9 years36.4 yearsMedian age of females 53%51%% female population
28,637288,378,137Total Population
PittsfordUnited States
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Marketing Plan
Potential Markets
Children (age 10 – 27)Parents (age 65+)
Of females in the target market – unique opportunity to reach three generations of women
Women ages 25 – 35 years old
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Marketing Plan
Competition: 16,968 Rx’s per week*
1. Eckerd Drugs – chain 2. Rite Aid Pharmacy – chain 3. Wegmans Food Markets – supermarket 4. Wegmans Food Markets – supermarket 5. Syncor Pharmacy – independent 6. Eckerd Drugs – chain 7. Eckerd Drugs – chain 8. Eckerd Drugs – chain 9. Tops Friendly Market– supermarket 10. CVS Pharmacy – chain
Isabella’s Apothecary
*Competition within 3 miles of Isabella’s
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Marketing Plan
ProductsPrescription DrugsOver the Counter Products
ServicesChronic Disease State MgmtDisease Prevention & EducationMedication Therapy Mgmt (MTM)Counseling Services – English & SpanishHormone TherapyInfertility TherapyNutrition Consultation & Weight Mgmt.
Herbal Medicine ConsultationMonthly Meetings & SeminarsImmunization ServicesWebsite ServicesDelivery ServicesPatient Charge AccountsPrescription Filling
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Marketing Plan
Place4 North Main Street in Pittsford, NY
PromotionNewspaper Direct mailBrochuresInternetLocal radio & television Word of mouth
PriceInsurance plansOTC’s marked up 25-30% of cost
$20,043.28Anticipated Profit0.09%Anticipated response rate0.014%Break-even response rate
74Break-even # of scripts$10.96Avg. Rx cost to dispense in NYS$61.32Avg. Rx price524,870# Readers$3684.75Cost
Grand Opening Announcement Analysis
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Marketing Plan
Summary of expenditures for advertising
Total Profits: $22,949.20
$2,905.92$20,043.28Profit
$4,843.20$23,728.03Revenue
$270$139.95$195$869.88$1,939$3,684.75Cost
Purchase 1000 pens
Printing business cards
Printing brochures
Website development, internet & hosting
Direct Mail piece
Grand Opening AnnouncementEvent
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Projected Sales Volume Short-Term
$139,958$89,018$56,298Total Sales
$131,753$83,810$52,998Prescriptions Sales
704428Prescriptions/day
First YearMonth 12
First Year Month 6
First YearMonth 1
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Projected Sales Volume Long-Term
Prescription and OTC Sales Forecast for Year 3
$-
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
1 2 3 4 5 6 7 8 9 10 11 12
Month
OTC
Rx Sales
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Expense ProjectionsStart-Up Costs
$ 245,786Total Estimated Start-Up Capital
$18,500Equipment
$100,482Account Receivables and Third Party
$ 60,405Expenses ( 3 months)
$ 22,580Fixtures
$ 43,819Inventory
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Expense Projections
$4,550$2,499$1,254Total
$3,869$2,071$908Cost of Good Sold
$266$156$119Other Expenses
$9$9$9Depreciation
$24$11$7Supplies
$56$47$39Rent & Utilities
$326$205$172Wages and Compensation
Year 3Year 2Year 1(in the thousands)
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Cash Flow Projections
$4,398$2,428$1,142Total Cash Payments
$4,649$2,470$993Total Receipts
$4,854$2,597$1,140Total Sales
$96$54$203Cash on Hand
Year 3Year 2 Year 1(in the thousands)
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PLANNING FOR SUCCESS
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Inventory Evaluation
29.230.433Inventory Turn (Days)
12.51211Number of Turnover
Year 3
Year 2
Year 1
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Cost Per Square Foot
$269$87(-$111)Total Revenue/ Sq. Ft
$4,030$2,213$1,111Total Cost/ Sq. Ft
$4,299$2,300$1,000Total Sales/Sq. Ft
Year 3Year 2 Year 1
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Pro Forma Income Statement
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Balance Sheet
$149$489
$214$172$32$71
$638
$83$173$283$10$89
Year 2
(-$23)$354
$111$151
-$92
$331
$58$82
$147$10$34
Year 1
$697Owner’s Equity$743Total Liabilities
$400$309$34
-
LiabilitiesAccrued ExpensesAccounts payableOther
Long-term Liabilities
$1440Total Assets
$269$310$623$23
$215
AssetsCashInventoryAccount ReceivablesIncome from Investment
Fixed Assets
Year 3(in the thousands)
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Isabella’s Apothecary…..
“Making a Difference One Woman at a Time”
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Questions?