Location, Location, Location.
Where you open your Pharmacy is incredibly important.
The PRS Pharmacy Site Feasibility Study can assist you in deciding whether or not to move forward with a Pharmacy location.
We will gather information on the proposed location and combine it with demographic and market potential data from a variety of industry and government sources. The data we collect, coupled with information you provide us, is then scored and weighted based on relative importance to the success of a Pharmacy. We then analyze all of the data to give you the success potential designation for a Pharmacy at that site.
The PRS site feasibility report offers an analysis of the factors contributing to the potential success of your proposed Pharmacy. Our comprehensive evaluation will identify and answer questions such as:
- Does the Pharmacy have sufficient space to maximize patient contact?
- Can the Pharmacy provide for OTC/DME sales?
- Will the Pharmacy accommodate the appropriate number of personnel for the projected script volume?
- And More…
We will provide you with an evaluation of the type of competition in the area.
The PRS Feasibility Study also provides recommendations to utilize your strengths and maximize your effectiveness against the competition.
The report also contains the items listed below and a Good Faith Estimate of the cost of the proposed project:
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- Security System
- Pharmacy Equipment
- Pharmacy Computer (Hardware & Software)
- Construction, Fixtures and Installation
- Initial Inventory
The Feasibility Study features a Financial Projection Analysis.
The feasibility study financial projection analysis can be used as an estimate of expected costs, revenue and script volume captured using historical data of similar Pharmacy Operations. This information is provide in a two-year pro forma income statement, however, it will not address the real estate and excess construction costs that may apply.
The report also includes the items listed below which serve as a guide for marketing to your trade area:
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- Population by Race
- Household Income
- Household Type and Education Level
- Labor and Employment Profile
- Assessment of potential ancillary Pharmacy offerings
- Capture rate of current script volumes generated
