University Helper: 2016

Gantt chart for 6 months after start of business

ACTIVITIES

Promotional activities

Evaluation of workers

Quarterly Maintenance

Introduction

Our proposed business idea came about by examining aspects of life that it is rather vital to existence we figures that one of the most valuable possession anyone has is their health and as such they will do whatever it takes to preserve it; and we plan our business is to assist the general public to do just that. As we deliberated we came to the conclusion that Starting our own pharmacy, medical courier service and specialised transportation service is a great way of easing into the world of entrepreneurship. Our business is that of a partnership company, it comprises of four shareholders, namely; Mikaliah Holt, Johnoy Hammond, D’Vaughn Davis and Delroy Garrison. The most fitting name for our business is carry-meds as we do just what our name suggests. Home delivery isn’t just for newspapers, clothing and gifts on wedding registries anymore Carry-meds will form alliances with medical practitioners (doctors, dentists, psychiatrists, obstetricians etc.) both those with private practice and those that practice publicly, insurance companies, big drugstore chains and independent local pharmacies to provide these services, which has never been offered in Jamaica but will become more widely available as time progresses being a focus of our companies’ marketing efforts. Our company will make it possible for Jamaicans to have medications mailed or delivered to wherever they live. Our first and main operation office and pharmacy will be located at in Kingston Jamaica. The head office will be located an Spanish town road while our website and email are; www.carrymeds.com, carry_meds@cw.jm

Background of study

The purpose of this proposal is to assess the economic viability of establishing while introducing a business that uses sells, distributes and delivers pharmaceuticals and medical equipment. In addition we want to server our valued consumers on the best way possible by giving them a more convenient choice of pharmacy that would be enjoyed not only by the elderly but young people as well.

Pursuing our idea; having prescription filled and shipped out. Is not meant to replace in-store pharmacies, it t serves as a complimentary addition to what already exist. In fact, studies conducted by Wegmans and Walgreens Mail Service Pharmacy in North America states that; “patients who have their medications shipped to their homes are more likely to take the drugs, as directed, and this added adherence can save money. Some people just have barriers to get them to the pharmacy every month”.

Conceptual frame work of study

Ø The technical aspect of this research will discuss how the service is offered, what equipment and technology are needed, the business and its layout.

Ø The marketing aspect of the research will discuss the structured questionnaire that is to be given to the respondents and the results will determine the demand and supply, and help the researchers/business partners to know if the service will penetrate the market.

Ø The financial aspect will discuss whether the business will be profitable or not. It also will serve as a guide for the financial decision the researchers might make in the future.

Ø The management aspect shows the form of ownership, the structure of the business, job analysis and the company policies that the researchers formulated.

Ø The socio-economic aspect will prove that the business is not solely based on profit maximization, but exists for the improvement on the welfare of people.

Business objectives

At the end of this study we would want to:

Ø Know the future prospects of our business; weather it has the potential to be successful or not.

Ø Find out if the market is ready for a service like ours.

Ø Find out which location is more accessible to consumers.

Ø know Who our prospective customers are, their age range, occupation and address

Ø say if our company will be able to break into the market by analysis of existing completion

Ø Identify what price the consumers are comfortable at to pay for our service.

Ø identify the specific needs of the populous with respect to our value proposition

Ø know Which of the services we offer seem most attractive to prospective customers

Ø know If the delivery of medical supplies is an idea that is welcomed by the populous

Ø estimate much revenue projections

Ø Predict the amount of time until the company breaks even and determine whether a proposed project will be profitable.

Ø Be aware of the possible logistical issues

Ø Determine facility needs and sustainability of operations

Ø Estimate the total capital requirements

Ø Legal feasibility and requirements

Ø To define our target market, their Demographics, psychographics, lifestyle, education level etc.

Ø identify the nature of our competition , who they are and their strength and weaknesses

Business Overview:

With so much to consider and so much at stake, you need a pharmaceutical courier and pharmaceutical distribution partner that understands and provides smart solutions for your important pharmaceutical products. We provide bar code scanning, proof of delivery, and real-time data – all of which have a dramatic influence on reducing lost items, increasing efficiency, and improving customer relations. Using for state-of-the-art tracking software giving us visibility into every item at each stage of its delivery. Drivers are also able to record delivery confirmation on mobile devices using the signature capture feature.

We are most suitable to be your medical equipment supplier and pharmaceutical courier, we understand the industry's regulations for transporting, delivering, and warehousing. Employee training and proper equipment are all part of the pharmacy, transportation and courier services we offer. The highest level of security is provided when transporting and delivering your goods (medical supplies/pharmaceuticals) to their destination. Our proven process ensures all documentation is complete and compliant. There is no need to worry about damage or contamination to goods since climate control and other packaging, transport, and storage requirements are all built into our pharmaceutical courier services. Gain confidence when you entrust your consignments to us, because we have the knowledge, capability, and procedures in place to respond to and fulfil your requirements 24/7, 365 days a year.

Executive Summary

Pharmacies are essentially retailers of pre-manufacture and or pre-packaged pharmaceuticals, and their operating performance is influenced by many of the same factors that affect traditional retail stores. For the most part, pharmacies have business models that are relatively easy to understand, and the array on the Value Line page is the same as that of a standard industrial and service providing companies. Nonetheless, there are a number of unique factors to consider when making investment decisions regarding this technical and segmented industry.

Our business concept was derived from detailed Market Analysis. Instead of building a business around a preconceived concept, we analysed the market findings through our feasibility study and built a concept around our consumers. In other words, our business is built to service a set of consumers that has an unmet 'want'. We have evaluated traditional and non-traditional risks associated with not just poor performance and failures of pharmacy operation but businesses as a whole, and accounted for them directly in doing the business plan. Instead of dismissing the risks, we have identified valid strategies for each.

Starting our own medical courier service is a great way of easing into the world of entrepreneurship. Delivery services have very little overhead and an array of ways for determined business owners to make money. Not just hospitals and clinics use medical supplies. Hundreds of people order supplies or need certain items delivered to them daily. The sooner we start the more profit we can make and if we wait someone may take our idea and gain great successful from it. Firstly capital need to be gathered in order to start purchasing supplies as we already possess an ideal location on Spanish town road and create our website and develop wireless computer systems.

This Plan is being submitted in order to secure a Business loan. The loan will be used towards Equipment purchase, Design, Construction, and Operational Start-Up expenses. Private Investors, who will be part owners with non-managerial interest in the business and also full-time owners (Mikaliah Holt, Johnoy Hammond and Delroy Garrison) will invest a portion into the stockholder’s equity which amounts to $2, 698,949. As owners of Carry-Meds, our commitment is to take personal accountability for all financial debt. We have taken the necessary precautions to ensure the business is fully capitalized, and have addressed all financial shortfalls to ensure a successful business start-up. Later in the business plan, our financial projections show that Net Profit will be $4,620,000.

Carry-Meds Service or product	Number of purchases (per yearr)	Minimum purchase ($)	Revenue ($)
Total	105,000	55	15,556,000

We expected that as a new company and brand that offers a relatively new approach to an old business, there will be difficulty gaining a fair share of the market during the initial year or years of operation. Thus, the COO Delroy Garrison made a realistic estimate that out of the large number of person that live in and around the corporate area, approximately 300 persons will use at least one of our services each day totalling to 105,000 people per year (300*350). Let’s say each person spends a minimum of $150; this will bring in estimated revenue of $15,556,000 (105,000*150). Looking at these figures one can tell that Mr Garrison is being very generous with is estimated figures. (figure1)

This estimation is considered very attainable for the company. However, we expect that there will be a need to employ a few persons in order to meet the projected demands.

Competition between pharmacies is intense, since quality options abound. And, while there are certainly dominant players in this industry (especially among affordable purveyors), no one company has the market cornered. Indeed, virtually every pharmacy location must compete not only against other publicly traded chains, but also a wide array of small, local establishments. Competitors include everything from bush doctors and small drug stores to large chain franchise pharmacies such as the Fontana pharmacy chain in Jamaica. And, of course, it is relatively easy to forgo prepared one provider, altogether, for the services of another which may seem more convenient or appealing on to do without prescriptions entirely, thus, pharmaceutical items may be deemed as discretionary purchases, and the industry tends to be highly cyclical.

As the business grows and establishes itself in the market, it will becomes increasingly difficult to capture benefits, this is why we plan to focus on the most profitable locations first, making sure that each branch is within functional proximity to each other, lest they cannibalize each other's sales. The managers of Carry-Meds intends on offering services that would appeal to the entire demographic. This will influence and determine Carry-Meds’ margin. Carry-Meds has operating margins for:

Ø the business person who works late and find it hard to get to pharmacies within opening hours

Ø Partnering pharmacies, institution and individuals who requires pharmaceuticals and medical equipment’s to be sourced, shipped and delivered.

Ø Individuals, entities and institutions that requires a constant supply of pharmaceuticals and medical equipment.

Operations and labour are two major cost factors for Carry-Meds. Typically, employees will earn modest salaries, most of which will be above government-mandated minimum wages. This is so because all employee of Carry-Meds will be required to possess some amount of technical skills. Consequently, changes in organization structure will have a noticeable impact Carry-Meds’ on costs and margins

Since we have analysed the people, price, product promotion and competition. We intend to start promoting the business so our targeted market can be informed about the business and work towards satisfying the needs and wants of the consumers in a profitable way.

Industrial Analysis

The Pharmaceutical and medical industry is a very prominent field worldwide. Carry-Meds is the name chosen for the business due to its ability to catch on quickly and it implies the essence of our business as we “CARRY” pharmaceuticals medical supplies and people wherever they need to go. One’s health may be considered the most important and valuable asset and thus most persons are willing to do whatever It take to maintain good health; our services assist in doing just that both directly (through selling and delivering of pharmaceuticals) and indirectly (by sourcing medical equipment and providing specialized transportation).

Our strategy is simple. We intend to succeed by giving people a combination of excellent and interesting products and services in an environment that appeals to a wide and varied group of individuals or even without them having to leave home. We will focus on establishing a strong identity in our community with a grand opening. One of our main focus will be on marketing thereafter will be to increase customer awareness in the surrounding communities. We will direct all of our tactics and programs toward the goal of explaining who we are and what we do. We will keep our standards high and execute the concept flawlessly, so that word-of-mouth will be our main marketing force. We will create an appealing service with unbeatable quality at an exceptional price.

Porter’s five forces

Ø Threat of new merchant: high pressure

The barriers to enter this market are relatively high. The capital requirement is relatively high and there are a number of pharmacies offering the same products at relatively similar prices.

Ø Threat of substitutes: low to medium pressure

There are no pharmacy in Jamaica that operates how we intend to. It has a unique structure, approach, and organization.

Ø Bargaining power of buyers: low pressure

Individual customers will have no pressure while Lager retailers like, other pharmacies and organizations have bargaining power because they demand large quantities.

Ø Bargaining power of suppliers: low pressure

The main focus of our operations is the sourcing and delivery of medical supplies and pharmaceuticals. As suppliers we are not concentrated or differentiated. Then ordered products will be brought by our company to our partners.

Swot Analysis

Strengths ü Location: our location is open to a lot of potential markets. Encapsulating the entire corporate area. ü Uniqueness: we will stand out as the only pharmacy that home delivers and offers specialized transportation in Jamaica ü Strong management: out team contains persons that are versed in different disciplines with knowledge of all area in the business.	Weakness ü Lack of sufficient capital: a portion of the start-up funds will need to come from loans. ü Lack of reputation: we are a new company thus we are not know to be a reputable flour provider. ü Low price margins
Opportunities ü Fast growth- gain consumer attention and loyalty ü Expanding on advertising in regards to being more socially responsible and more convenient for the working class ü Government programs- promotions of the “healthy lifestyle”	Threats ü Bad economic climate ü Government regulations- tax laws etc ü Competition- 2 major players in the market along with a few others smaller ones

PESTL Analysis of Jamaica

Political	Economic
ü Complex tax regimes ü Slow implementation of government policies ü High crime rate	ü Weal local conditions ü High electricity cost ü High cost of capital
Social-Cultural	Technological
ü Consumer brand preferences ü Employee theft ü Inefficient work force ü Consumer buying patterns	ü Competing technology development ü Changes in mobile technology ü Technological obsolesce
Legal issues
ü Employment law: working time, age, minimum wage rate, ect. ü Health and safety regulations ü Customer protection

Market segmentation

Geographic

Kingston, Jamaica (corporate area)

Demographic
Entire Population Of any income	Working class, professionals, shoppers, senior citizens and unemployed

Psychographic
Working people and Senior citizens looking for a more convenient and vast pharmacy	People that are suffering from chronic or permanent illness and needs constant supply of medication.

Target Market

Market Analysis

We provide well needed services and products that everyone in our society will benefit from especially those that suffers from chronic illnesses, persons with disabilities, and others that are most vulnerable in Jamaica. We are targeting the entire population of Jamaica. But for now our start–up target group are working class people in and around the corporate area. These are the people that leaves work at six; ironically at the same time most pharmacies close. These are the people that do not have enough free time to shop around their elderly. These are they that we seek to assist, for a fee of course.... our data analysis and observation shows that women are most interested in the products and services we offer.

Statutory Requirements

There are a number of legal requirements that must be fulfilled before starting and operating a business. Jamaica’s Business Name Act of 1934 makes it illegal to start a business without first registering it with Companies of Jamaica, which was formerly called the Office of the Registrar of Companies. Before registering with Companies of Jamaica, however, we must decide upon the type of legal structure your business will have. Since our stated business is a partnership, it states that partnerships can legally exist with as few as 2 persons or as many as 20 persons. Being that we want to register the business as a partnership, we are looking forward to submitting the following:

Ø A completed BN2 form

Ø Proof of residential address and TRN are required for the applicant

Ø Optional 3 passport-size photographs of each partner, signed by a Justice of the Peace

Ø The National Identification Card of each partner

The registration fee for a partnership is JA$2,000.00. Once all those have been completed, we the partners can then claim the name for the business and request two very important numbers:

Ø the Taxpayer Registration Number (TRN) and;

Ø the National Insurance Scheme (NIS) reference number

Once you have our TRN and NIS numbers, we can take the next step, which is to register with the Inland Revenue Department to obtain permission to take various legal tax deductions, such as those for:

Ø Income tax

Ø Education tax (ED tax)

Ø General Consumption Tax (GCT)

If necessary, we will need to obtain the appropriate patents of copyrights from the Jamaican Intellectual Property Office. After which, we will register with the Pharmacy Council of Jamaica and apply for a Tax Compliance Certificate (TCC). To get a TCC, we will obtain a clearance letter from the National Insurance Scheme (NIS) office, the National Housing Trust (NHT) office, and provide our Business Name Certificate.

In addition, we may need to comply with other licensing and/or inspections from the appropriate government agencies, such as the Bureau of Standards. Specific industries must also provide an Environmental Impact Assessment.

Legal Constraints

Legal changes are happening on a daily basis, and as a result, can have a large influence on what is happening within the business environment. Health and safety legislative changes may increase costs, or force working practices to change. This is particularly important when considering new businesses.

Legal legislation changes may increase the cost of working practice to changes. This is particularly important when considering a new business venture. Changes to minimum wage, the standard working week and employee contracts need also to be taken into consideration.

Thus, there are many legally binding constraints that the business has to take into consideration when implementing their respective business plans. Some may say any service that peoples life or health depended on is risky business, however we possess all the requisite skills and competencies to prevent major blunders such as delivering wrong prescriptions to a customer but we are lawyered up just in case.

Organization and Management

Objectives

To apply knowledge, skill and excellent working habits in the required field of work to effectively and efficiently produce a high products and services.

Vision and philosophy

Here at carry-meds, it is an aspiration of ours to become one of the first organizations within the pharmaceutical industry to offer home delivery of orders and specialized transportation services of a high quality. It is our vision for carry-meds to become well renowned; known for our presentation of splendid Customer service, quality products as well as safe and comfortable modes of transportation.

We live by the philosophy “a good name is better than great riches”, this idea is not always well received by our employees, and however we encourage working for commendation as well as compensation. Why? Because working for a name ensures that you put your best foot forward while working for wealth only encourages robbery. And as we all know- “honesty is the best policy”. There may be some distance to go as it relates to attaining our set goals; never the less with hard work and prayer we shall conquer all. It is said that Rome was not built in a day, but we put it this way. No great idea, concept, thought, organisation, city or kingdom was ever developed and brought to fruition by one person, one lays the foundations and the other builds the walls.

It is very hard to survive day to day in these challenging times especially for persons doing business since there is a decline in the country’s economic development at the moment… and so there are dogs more than bones in plain Jamaican terms. The reason we are able to be competitive and reasonable in relation to cost of products and services is because we operate as a floating organization. What do I mean by a floating company/organization, we would hear persons say that they are trying to stay afloat well this is the concept on which our philosophy is based…..The term "float" refers to the regular shares that a company has issued to the public that are available for investors to trade .floating as it relates to this organisation is basically not having a fixed idea, opinion or location; regardless of the fact that we have an office and store location and staff we can be anywhere you want us to be, with your order of course. Now this is temporary as we plan to develop and in such a way that we can create permanent employment for at least 1000 persons island wide.

Mission Statement

In all carry-meds products or services of distinction you will find only superior quality. All task will be done to please clients, customers member and partners; presenting a splendid display by the glorious tradition and invention of organizational design, business concepts and marketing techniques. The classic “Carry-Meds”. A name that will be synonymous to quality as well as excellence, nationwide. Undoubtedly a manifestation of our impeccable reputation that will stand the test of time. It is therefore with considerable pride that we reaffirm my commitment to quality and excellence and look forward to earning your complete satisfaction...

The company

Carry-Meds boasts a strong founding team and well trained board of directors. Our primary advisor; Delroy Garrison, brings 5 years’ of industrial experience with strong technical and technological skills and is responsible for the management of operations. Mikaliah Holt manages marketing, accounting and management to accelerate, financing, market and general management operations she has 2 years’ experience as a party promoter. Johnoy Hammond, bring 9 years of experience in media and communication, shipping and resource management given the years he spent running his own business.

Management summary

Two of our strengths are the low cost structure and flexible personnel needs and Staff with the necessary qualification and experience. The initial management team consist of the founders themselves. Due to the company being new and of a small size and capital structure we decided on using one person to provide external direction for the company.

Management Team

Initially, the founder and partners will share operational and financial responsibilities of the company. Founder and partners will be responsible from sales, marketing, and executives operations, and all other operations that are needed to make a successful business. The triune management will oversee all company decisions and operations.

The “TRIUNE” management

The CEO, COO and CFO are three separate persons but act as a unit. To make major decisions and future plan of actions for the company. All members will contribute to the production of excellent products and sevices than will satisfy the need of customers.

Organisational Structure

Johnoy Hammond: Partner/CEO

Mr Hammond is responsible for all executive operations as well as international relations and shipping. As the senior member of the management team he help develop strategy and ultimately sets the direction to achieving objectives; Which markets will the company enter? Against which competitors? With what product lines? How will the company differentiate itself? Mr Hammond also, sets budgets, and is responsible for how the company is view in the public domain.

Mikaliah Holt: Partner/CFO

Ms Holt will hold responsibility for the financial aspect of the business, she will oversee all financial operations of the business including;

Ø Controllership duties - responsible for presenting and reporting accurate and timely historical financial information of the company Follow us: Investopedia on Facebook..

Ø Treasury duties – She is also responsible for the company's present financial condition, so he or she must decide how to invest the company's money, taking into consideration risk and liquidity.

Ø Economic strategy and forecasting - Not only is she responsible for a company's past and present financial situation, she is also an integral part of a company's financial future. Ms Holt must be able to identify and report what areas of a company are most efficient and how the company can capitalize on this information

Ø Acts as mediator between Mr Hammond and Mr Garrison; using her innate abilities to cause them to see eye to eye.

Delroy Garrison: Partner/COO

Mr Garrison has the responsibility for all industrial, technological and general operations of the business. Mr Garrison’s goal is to ensure that a company is run in the most efficient way possible, thereby maximizing profits and customer satisfaction. He will make strategic company decisions by reviewing and assessing the company's quality and efficiency. By meeting with other executives and getting a clear picture of the overall needs of the company, the Mr Garrison can set goals and policies for the company in order to make the necessary changes. Mr Garrison also directs human resource and staff working conditions.

Organisational Chart (figure 4)

Business structure

As a small business we decided to use the team structure to an extent; meaning there will still be ranks and titles but without the classification that usually segregate workers in traditional companies. Due to the fact that initially we will have a relatively small capital structure our capability to increase employee number will be limited in the initial stages.

Reasons why we chose the team structure:

1. Breaks down departmental barriers.

2. Decentralizes decision making to the team level.

3. Requires employees to be generalists as well as specialists.

4. Creates a “flexible bureaucracy.”

Definition of the Business

Carry meds is essentially a pharmaceuticals delivery and transportation company. We specialize in prescription delivery and transportation of our clients to and from doctor visits and or hospital visits. We also do international sourcing, importation and door step delivery of medical equipment. This business venture is unique to the Jamaican market. We seek to target all demography’s of people. We measure our projected growth using five simple ways to gauge whether or not your business is on the path to success.

Profit

Profitability is probably the first thing people think about when measuring success. Is the business making money? This is fairly common sense, if there is money left after we have paid our monthly operating expenses and debts. Due to the fact that our business took less startup capital than projected we will easily take care of our operating expenses and overhead on a monthly basis. And profits are projected to double in 2016 with the implementation of the sourcing, importing and delivery of medical equipment in close partnership with shop876.com.

A growing customer base

In addition to profitability, a growing customer base is a sure sign that we are effectively reaching our target market, and reaching our target market is what this business is all about. A strong customer base is essential to carry meds and We have a vibrant customer base. The long-term growth of our company is tied directly to our ability to not only reach our customer base, but to expand it to accommodate your long-term goals. The long hours spent on the research and development of marketing strategies proved themselves here.

Customer satisfaction

Customer satisfaction is another indicator that our company understands the needs of our customers. Understanding our customers and being able to satisfy their needs is crucial to the strength of our business. We believe that one unsatisfied customer can negate the promotional impact of several satisfied customers. Having strong customer service polices will add to the success of our company.

Employee satisfaction

Employee satisfaction is another key indicator of business’s success. We developed a work environment that rewards employees for their hard work. This we believe is imperative in attracting and retaining quality employees. If workers know they are appreciated, they are much more likely to go the extra mile when needed. Employees are an indispensable part of our business. They are the face that greets our customers. Do everything within your power to make sure that face is a smiling one.

Owners’ satisfaction

Perhaps the most important measure of business success is whether we the owners are satisfied with the results of business ownership. Dissatisfaction is contagious. If we're not happy with our business, it won't be long before our dissatisfaction begins to affect the employees and even the customers. Every once in a while, we carve out time for a reality check. Identify the sources of our dissatisfaction and make the necessary changes before it's too late. This simple five step program is what we believe to be the best what to calculate our projected growth for such a unique market and business venture.

Purpose of the Business Plan and Justification of business

To map the future

By committing our thoughts to paper, we understand our business better and also chart specific courses of action that needs to be taken to improve our business. This plan detail alternative future scenarios and set specific objectives and goals along with the resources required to achieve our goals. By understanding our business and the market a little better and planning how best to operate within this environment, we will be well placed to ensure our long-term success.

To support growth and secure funding

Our business like any other businesses is faced with investment decisions during the course of their lifetime. Often, these opportunities cannot be funded by free cash flows alone, and the business must seek external funding. However, despite the fact that the market for funding is highly competitive, all prospective lenders will require access to the company’s recent Income Statements/Profit and Loss Statements, along with an up-to-date business plan. In essence the former helps investors understand the past, whereas the business plan helps give them a window on the future.

To help manage cash flow

Careful management of cash flow is a fundamental requirement for all businesses. The reason is quite simple–many businesses fail, not because they are unprofitable, but because they ultimately become insolvent (i.e., are unable to pay their debts as they fall due). While the break-even point–where total revenue equals total costs–is a highly important figure for start-ups, once a business is up and running profitably, it becomes less important. This is why we are also seeking a financial advisor to help us with the management of our cash flow.

Business feasibility

Based on the information learnt and investigated in the feasibility study previously, it was learnt that this business venture would do well in Kingston and the cooperate area. From the market feasibility we learnt that: The particular market segments of women and persons of the working class are most interested in our services. Our target is the entire population but more specially:

Ø The business person who works late

Ø Persons with terminal or chronic illness that needs a constant supply of pharmaceuticals or medical equipment.

Ø The disabled

Carry-Meds expects to gain twenty five percent (25%) of the market in two and a half years by:

Ø Improved and more customer friendly operations.

Ø Improving the Pharmacy’s customer experience by introducing incentive customer programs such as making a single purchase of five hundred or more dollars, can opt for a discount or become a prescribes member for added benefits.

Ø Entering into new markets that will boost sales

The risks that can be associated with Carry-Meds can be broken down into two categories; business and market risks.

The markets risks of this venture could include:

Ø Our current competitors becomes more effective with their marketing ideas and deals

Ø A competitor introduces a more creative and costly effective idea

Ø A slump in the economy reducing customer's disposable income

Ø Another business could start offering a similar idea (new business/same idea concept)

Ø Free health care and medication and improved public medical services

The business risks that can be affiliated with this venture could include:

Ø Inadequate investors

Ø Starting a business in Jamaica’s current economic situation

Ø Choosing a wrong location.

Our risk mitigation is simple. Be a sheep in wolfs clothing and become a friend and asset to all who may seem to be competitors, then Bam! Gorilla marketing strategy takes off causing our business to take off; taking their customers with us.

On a lighter note however Carry-meds intends on having a positive impact on the environment, and aid in boosting Jamaica’s economic conditions. Jamhop plans on having 100% sanitized surroundings year round, making use of proper disposal mechanisms, using clean water, having clean water tanks, constantly sterilized equipment, and properly disposal of our waste.

Product Characteristic

We strive to offer our valued customers, partners and other stakeholder the best possible products, service and price. We effectively and efficiently fill and deliver prescription, medications and vital medical supplies for our subscribed customers upon request or as soon as their supply at home ends, also we transport our customer to and from there medical appointments and source, ship and deliver medical equipment and devices upon customers or partners request. The general public and an approximated 85% or respondents believe that the products and services we offer are valuable and would be well received by most Jamaicans.

Market Analysis

Sales Analysis

We make money from the sourcing of medical supplies and equipment for both our partners and customers. Other services that will also generate some amount of revenue is the monthly subscription fees, sale of stock, transportation service and advertising on our vehicles. Based on our findings we are anticipate that our potential customers are those that currently support and are members at other pharmacies. Our delivery service being the most attractive feature. Analysis of the findings showed that approximately 90% of respondents selected and suggested prices and prices rages that are higher that what had in mind initially.

Customer Analysis

It is our belief that our customers are our most valuable possession.it is our aim to make our customers believe that they are our first priority but instilling in them a sense of; pride, confidence, importance, trust, reliability, genuine care and concern as well as value in the sense of being economically friendly. Our findings show clearly that partnership with other pharmacies medical practitioners and institutions is pivotal to achieving the customer base we desire, as these prospective customers are already affiliated with existing entities.

Promotion and Advertising

Our main partners are medical practitioners Pharmacies, Medical practitioners, clinics and hospitals and we aim is to grow from strength, causing our business and the great work we do and the excellent service we provide to extend to every “crivis and corner” of Jamaica. We expect to get most of our customers through the oldest and by far most effective channel; word-of-mouth, In addition to, referrals and commendation. Carry-Meds will be sponsoring events in order to for potential customers to get familiar with us. We also plan to network and do follow-up with our clients in order to keep them and get more. Once we have spoken with our client it is important to follow up by mail or email, if only to confirm with them the items you discussed. This also sets the tone for further talks and reminds them that they are important to us. A great sales pitch consists of not only showing the prospect your product but we are also selling ourselves.

According to our correspondents mass advertising is the way to go, invading the market at once so individuals will be notified about our product at every location. This will make individuals more informed and aware about our service.

Pricing Strategy

Analysis of the findings showed that approximately 90% of respondents selected and suggested prices and prices rages that are higher that what had in mind initially. This basically is enough proof that our pricing strategy is reasonable and will work. To become a subscribed member you pay a quarterly subscription fee of only $3000 and sig a few docs and you can get all your doctor’s orders and prescription delivered to you. Our sock in our store location will be discounted for everyone and however subscribed members get an additional 5% discount. Our specialized transportation service I dealt with on a clientele level as this is what the majority of respondents requested, therefore rate and terms of agreement are negotiable. To attract customers we will use Market penetration this when we set the product at a lower cost and then increase overtime and during off peak season we will use Product Bundle Pricing this is when we bundle different product and price the bundle at a reduce cost. Our Price Adjusting Strategies include discount and allowance pricing at certain periods and to certain customers and Promotional Pricing will be used during Customer Appreciation Periods “goods and services sold cheaper.”

Competition

Our main competitions are existing pharmacies. A famous Jamaica saying states “if you can’t beat them join them” we don’t intent to compete necessarily. What we will do is forge partnerships in that we will get to the point of delivering for other pharmacies and sourcing supplies for them as well. Our main partners are medical practitioners (doctors, dentists, psychiatrists, obstetricians etc.) both those with private practice and those that practice publicly, pharmacies a medical supply importer along with our independent shipping department. With all these partners we will build and expend creating a more rewarding experience for our customers and partners. Our affiliations with existing entities will do a lot for our business name and there customer will eventual take a peek over the picket fence.

Human Recourses

At Carry-Meds, our staff is the most essential and important resource. The sourcing and staffing consideration will be done in order to choose the most suitable candidates for jobs. These individuals who are the best for the job must be hardworking and dedicated. Human resource recruiting activities are will be done in an effective and creative method.

The creative methods will include the utilization of employment agencies, newspaper advertisements through the career section of the gleaner and through recommendation from educational institutions like UTECH, UWI, HEART, etc. the next step will be to select the most suitable candidates through interviews, background check and a written test. In the interview the following question may be asked:

Why are you the best candidate for this job?
What qualifications do u have?
What motivates you to work to the best of your ability?
How do you define doing a good job?
Tell me about the last time you made a mistake and how u corrected it?
Where do you see yourself five years from now?

As time progresses we plan to grow from strength to strength and as our revenue grow so should our operations; hence increase in number of employees. Some position we will most likely have available are:

Ø Middle managers

Ø Pharmacists

Ø Office staff

Ø Accounting clerks

Ø Packaging clerk

Ø Sales and marketing representatives

Ø Professional drivers

Ø Delivery personnel’s

Ø Community agents

Since our staff is the most important resource, thus a great deal of time will be spent on training and development. Each year Carry-Meds will carry out a one seminar to update our staff. This will facilitate growth and staff empowerment. The discussions will be on time management and customer service, communication, adapting to change service and decision making.

Operational considerations

At Carry-Meds we operate with considerations of our target market. Specific attention will be paid to location, technical requirements, suppliers of raw materials and utilities.

The Technical Requirements

Carry-Meds seeks to employ persons with the requisite qualification, skills and abilities to get the job done successfully. It is also intended to employ people who make the customers pleased so that they will come again. Each member will be properly trained on how to carry out their specific task. They should also be well rounded so as to be able to help in all areas of operation.

Carry meds operates out of a private headquarters on Spanish town road however we mainly communicate and do business virtually through our website, emails and our social media pages. Our business hours are between the hours of 8am and 10pm six days per week. We do not yet operate on public holidays. Orders can be placed at any time however deliveries are made upon until closing time.

Production process

Carry meds is a services oriented business with also a retail aspect that sources and delivers medical equipment to individuals and businesses.

Suppliers

Our main suppliers are pharmacies where the prescriptions are filled they provide the medicines that we deliver to our clients. Secondly shop876 is our primary supplier as it relates to the sourcing and importation of medical equipment it is through this partnership that we will acquire most of our stock.

Plant & equipment

Our current equipment are one reliable motor van owned by carry meds. We also are in the process of acquiring four Mac computers to aid in our filing, technical and administrative support and running of our business these new Mac system are expected to be purchased to begin staff training in January 2016.

Inventory

To date we currently own one motor van. The partners in the business own personal laptops that are used in the business’s operations. A description of the inventory item (including make/model, name or reference number)

Trading hours

List your normal trading hours. Detail your expected peak trading times and which times you expect to be more profitable. Also include how this will change over different seasons and how your trading hours will accommodate these changes.

Communication channels

There are several ways in which our customers can contact us. These include through our social media pages, through our website, or by telephone.

Payment types accepted

Carry-Meds accepts all forms of payment cash, credit, cheque, gift cards, and our most recent addition PayPal.

Warranties & refunds

All prescriptions delivered are final. All medical equipment sourced, imported and delivered. However in the event of special cases customers can Visit our Warranties & refunds page on our website.

Memberships & affiliations

Our main affiliate is shop876.com a pioneer shipping company that operates out of Kingston Jamaica.

Our Suppliers

Materials	Suppliers
pharmaceuticals	A.F. Hauser, Inc. and Ameristat Pharmaceuticals, Inc. (USA)
Medical equipment	Jamaica Medical Equipment & Supplies Fresenius Medical Care AG & Co. (Japan) Baxter International Inc. and Siemens (USA)
Specializes transportation vehicles	Changzhou Technology CO.,LTD. (Japan)
Packaging accessories	Jamaica Packaging Industry Ltd

The Utilities

Utilities are essential for the day to day running of Carry-Meds. It is the physically impossible for the business to operate without it. Utility supply is obtained from the various utility companies but in the case of power loss there will be a generator the supplies electricity. This generator will be eco-friendly. The following companies that will supply Carry-Meds are:

Ø Jamaica Public Service (JPS Co) – Electricity

Ø Flow (telephone, landline) – Telephone and internet

Ø National Water Commission (NWC Co) – Water

Ø Arscott's Shell Service Station 146 1/2 Spanish Town Rd - Fuel

In the financial section, there will be a calculation on the amount of money these utilities will cost our company.

Marketing Arrangement

Target Market: The general population of Jamaica is the first priority when thinking about who to target. These 1.5 million persons can further be segmented into interval entailing both males and females and is defined as our target market.

Definition of product:

Pricing: The pricing strategy that Carry Meds will be using is penetration pricing where price set to ‘penetrate the market’ low price to secure high volumes. For the first month Carry Meds will be offering a 10% discount to consumers. The benefit of a penetration pricing strategy is that it can quickly increase the business market share. The business owner will deliberately price products low to achieve a high business volume. Subsequently, will likely focus on producing high quality products to keep those customers. Meeting competitive prices is just a safe alternative.

Promotion: according to Kotler (2010), promotion is the publicizing of a product, organization, or venture so as to increase sales or public awareness. With this knowledge, different forms of advertising will also be used, including social media, billboards and newspapers. In addition, we will give brochures to the different doctor’s office and pharmacies, so they can participate in making Carry Meds Delivery Company a success.

Distribution or Place: From the mid 19 century, entrepreneurs and other business personnel’s have realized the need to serve consumers more efficiently. This has put Carry Meds in the position where it will be manufacturing some of its products and distributing the product. Jamaica is quite a small country, therefore distributing would relatively be easy and cheap to reach the final consumer. Half way Tree has been viewed over the many years as one of Jamaica’s busiest metropolitan area. Having a business within this shopping district can be very beneficial to entrepreneurs because this is a place where persons usually go to spend.

With relation to the three additional P’s; People have an important role in service delivery, they are relied upon to deliver and maintain transactional marketing and people play an important part in the customer relationship. Secondly, packaging of the product should be so appealing that it will market itself without saying anything. This is also seen as a sales man of the product. Finally positioning has to do with the space the product holds in the mind of consumers when compared to competitors. Carry Meds not only focuses on the basic marketing mix but has gone further to show the relationship of having all seven present.

Financial considerations

Calculations are done using the Jamaican currency.

Capital Expenditure Budget

Asset	Cost
Delivery vehicles	$ 2,000,000.00
Other Equipments	$ 220,000.00
Tables and chairs	$ 25,000.00
Telephone	$ 12,000.00
Total	$ 2,257,000.00

Pre-Operation Expenses
Registration Fees	$ 60,000.00
Insurance	$ 220,000.00
Total	$ 280,000.00

Working Capital Requirements
Salary	$ 4,260,000.00
Utilities	$ 1,500,000.00
Rent	$ 240,000.00
Advertising	$ 350,000.00
Repair and Maintenance	$ 50,000.00
Total	$ 6,400,000.00

Start-Up Cost
Capital Expenditure	$ 757,000.00
Pre-Operating Expenses	$ 95,000.00
Total	$ 852,000.00

Sources of Finance
Partners	$ 10,000,000.00
Total	$ 10,000,000.00

Income statement for Carry Meds for period 2016-2018

	2016	2017	2018
1.Net Sales	$	$	$
Sales	17,000,000	18,000,000	20,000,000
-return inwards	(50,000)	(40,000)	(30,000)
	16,950,000	17,960,000	19,970,000
2.less cost of goods sold	(6,500,000)	(7,100,000)	(7,500,000)
Gross profit	10,450,000	10,860,00	12,470,000
3.less expenses
Salaries	4,260,000	4,280,000	4,300,000
Insurance	220,000	230,000	240,000
Utilities	1,500,000	1,750,000	2,000,000
Promotion and advertising	350,000	370,000	400,000
Rent	500,000	510,000	520,000
Miscellaneous	450,000	420,000	390,000
Total expenses	(7,280,000)	(7,560,000)	(7,850,000)
Net Income	3,170,000	3,300,000	4,620,000,000

Cash flow for Carry Meds for period 2016-2018

	2016 ($)	2017($)	2018 ($)	Total ($)
Income:
Cash sales	17,000,000	18,000,000	20,000,000	55,000,000
Credit sales	-	-	-	-
Total	17,000,000	18,000,000	20,000,000	55,000,000

Payments:
creditors	3,000,000	4,000,000	5,000,000	25,000,000
Salaries	4,260,000	4,280,000	4,300,000	12,840,000
expenses	7,280,000	7,560,000	7,850,000	22,690,000
Fixed assets	-	-	-	-
Total	14,540,000	15,840,000	17,150,000	47,530,000
Balance of cash b/f	2,460,000	2,160,000	2,850,000	7,470,000
Add difference between receipts & payments	3,170,000	3,300,000	4,620,000
	5,630,000	5,460,000	7,470,000	18,560,000

Balance sheet of Carry Meds as at 2016

Non-current assets	($)	($)
Delivery vehicle	2,000,000
Equipments	220,000	2,220,000
Current asset
Cash	2,240, 000
Stock	1,340,000	3,580,000
Total asset		5,800,000
Equity and liabilities
Opening balances	5,630,000
Net profit	3,170,000	8,800,000
Current liabilities
creditors	(3,000,000)	(3,000,000)
		5.800,000

Implementation Schedule

The three partners of Carry Meds have identified a gap existing in the current market for the business to flourish and be successful. A feasibility study was done by researching and gathering data from potential consumers. The study will show how viable the business idea is and if there are any potential customers. This research will provide necessary information to decide whether or not there is a real need for the service; identifying a target market and the different aspects of operating the business. After analysing the findings of the study, a business plan will be written consisting of an industrial analysis, marketing arrangements, organization and management and human resources and financial considerations.

The business will have an estimated 2 months for completion; the partners will then have to acquire legal requirements, source a suitable location and register the business. Thereon, the business can within a month source the required equipment and components to manufacture the product. Next utilities and sourcing of staff will need to be organized and addressed in a one and two month period respectively. When the interviews and selection of the staff is completed, the business can begin to meet with financial institutions to acquire any funding if necessary. In the last section of the year the business will try to gain knowledge about potential competitors and information on our customers to ensure maximum satisfaction with our services.

Once the business is in near opening, numerous forms of advertising will be implemented to increase the awareness of the organization and to increasing our customer base. Afterwards Carry Meds will begin its operation in the following year provided all time estates are met.

The chart below depicts how tasks will be disseminated using the Gantt approach

TASK

1-Jan

1-Feb

1-Mar

1-Apr

1-May

1-Jun

1-Jul

1-Aug

1-Sep

1-Oct

1-Nov

1-Dec

Completion of Business Plan

Leasing Contract

Registering of the Business

Acquiring of Legal Documents

Sourcing Equipment

Required Utilities

Recruitment of Staff

Conferencing with Financial Institutions

Promotion and Advertising

Gantt chart for 6 months before start of business
ACTIVITIES	Jun	Jul	Aug	Sept	Oct	Nov
Doing and feasibility study for Jam Hop
Identify your target market and main suppliers
putting together a business plan to help attract investors
Finding a suitable location and preparing the establishment
Licensing and registering the business name
Recruitment and training of staff
Establishing workplace health and safety
Promoting business and products
Purchasing of Equipment
Grand Opening

Appendices

Company logos

Plans for Cary-Meds future development in the Half Way Three business district.

Floor Plan of Carry-Meds

Legal documents

Carry-Meds General Partnership Agreement

________________________________________________, residing at ____________________

____________________________________________________and______________________

________________________________________________, residing at __________________

______________________________________________________, hereinafter referred to as the “Partners” agree as follows:

1. Type of Business.

The Partners voluntarily associate themselves together as general partners for the purpose of conducting the general business of _______________________________________, and any other type of business that may from time to time be agreed on by the Partners.

2. Name of Partnership.

The name of the Partnership shall be ____________________________________________

__________________________________. This name will be registered in the office of the Secretary of State as the fictitious name of the Partnership.

3. Term of Partnership.

The Partnership shall commence on______________________________________________

and shall continue until ________________________________________________________ or terminated as provided in this Agreement.

4. Place of Business.

The principal place of business of the Partnership shall be at _____________________________ (address),

___________________________, ____________________________, _____________________

And any other place or places that may be mutually agreed on by the parties to this Agreement.

Sample General Partnership Agreement

5. Initial Capital.

The initial capital of this Partnership shall be the sum of $____________________________, to which each Partner shall contribute by depositing in a checking account in the name of the

Partnership at the _________________________________ in ___________________________

___________________ on or before_____________________________, the following amounts:

____________________________ shall contribute $ _______________

6. Withdrawal of Capital.

No Partner shall withdraw any portion of the capital of the Partnership without the express written consent of the other Partners.

7. Profits and Losses.

Any net profits or losses that may accrue to the Partnership shall be distributed to or borne by the Partners.

____________________________________________________________________________

____________________________________________________

8. Partnership Books.

At all times during the continuation of the Partnership, the Partners shall keep accurate books of account in which all matters relating to the Partnership, including all of its income, expenditures, assets, and liabilities, shall be entered. These books shall be kept on ________________________ basis and shall be open to examination by either Partner at any time.

9. Fiscal Year.

The fiscal year of the Partnership shall end on the ___________ day of ___________________ each year.

Sample General Partnership Agreement

10. Accountings.

A complete accounting of the Partnership affairs as of the close of business on the last day of

March, June, September, and December of each year shall be rendered to each Partner within

____________ Days after the close of each of those months. On each accounting, the net profits of the Partnership shall be distributed to the Partners as provided in this Agreement to the extent that cash is available for this distribution. Except as to manifest errors discovered within ____________ days after its rendition, each accounting shall be final and conclusive to each Partner.

11. Time Devoted to Partnership.

Each Partner shall devote his or her undivided time and attention and use the utmost of his or her skills and ability in furtherance of the Partnership business.

12. Management and Authority.

Each Partner shall have an equal voice in the management of the Partnership and shall have authority to bind the Partnership in making contracts and incurring obligations in the name and on the credit of the firm. However, no Partner shall incur any obligations in the name or on the credit of the firm exceeding $_____________________ without the express written consent of the other

Partner. Any obligation incurred in violation of this provision shall be charged to and collected from the individual Partner incurring the obligation.

13. Salaries.

As compensation for his or her services in and to the Partnership business, each Partner shall be entitled to a salary of $______________ each month, which shall be deducted by the Partnership as an ordinary and necessary business expense before determination of net profits. The salary of any Partner may, however, be increased or reduced at any time by mutual agreement of all the

Partners.

14. Net Profits Defined.

The term “net profits” as used in this Agreement shall mean the net profits of the Partnership as determined by generally accepted accounting principles for each accounting period provided for in this Agreement.

15. Withdrawal of Partner.

Any Partner may withdraw from the Partnership at the end of any accounting period by giving the other Partner ____________________ days, written notice of his or her intention to do so.

16. Option to Purchase Terminated Interest.

On dissolution of the Partnership by the withdrawal or other act of a Partner, the remaining

Partner, on written notice to the other Partner within __________________ days of the dissolution, may continue the Partnership business by purchasing the interest of the other Partner in the assets and good will of the Partnership. The remaining Partner shall have the option to purchase the interest of the withdrawing Partner by paying to this Partner or the Partner’s personal representative the value of the interest determined as provided in Paragraph 17 of this Agreement.

17. Purchase Price of Partnership Interest.

On exercise of the option described in Paragraph 16 above, the remaining Partner shall pay to the person who is legally entitled to it the net book value of the interest as shown on the last regular accounting of the Partnership preceding the dissolution together with the full unwithdrawn portion of the deceased, withdrawing, or terminated Partner’s distributive share of any net profits earned by the Partnership between the date of the accounting and the date of dissolution of the Partnership.

18. Buy-Sell Agreement on Death of Partner.

If the Partnership is dissolved by the death of a Partner, the remaining Partner shall have the obligation within _________________ days from the death of the deceased partner to purchase the interest of the deceased Partner in the Partnership and to pay to the personal representative of the deceased Partner the value of that interest as provided in Paragraph l7 of this Agreement. During this _______________-day period following the death of a Partner, the remaining Partner may continue the business of the Partnership but the estate or personal representative of the deceased Partner shall not be liable for any obligations incurred in the Partnership business that are greater than any amount includable in the estate of the deceased Partner that was previously invested or involved in the Partnership and remained so on the date of death. The estate of the deceased Partner shall be obligated to sell his or her Partnership interest as provided in this Agreement and shall be entitled, at the election of the personal representative of the deceased Partner, either to one-half of the net profits earned by the Partnership business during this _______________-day period or to interest for the use during this period of the deceased’s interest in the Partnership business at the rate of ______________ percent a year on the value of the partnership interest determined as provided in Paragraph 17 of this Agreement.

19. Duties of Purchasing Partner.

On any purchase and sale pursuant to the provisions of Paragraphs 16, 17, or 18 of this Agreement, the remaining Partner shall assume all obligations and shall hold the withdrawing Partner, the personal representative and estate of a deceased Partner, and the property of any withdrawing or deceased Partner, free and harmless from all liability for these obligations. Furthermore, the remaining partner, at his or her own expense, shall immediately cause to be prepared, filed, served, and published all notices that may be required by law to protect the withdrawing Partner or the personal representative or estate of a deceased Partner from liability for the future obligations of the partnership business.

20. Dissolution.

On dissolution of the Partnership other than as provided in Paragraphs 16, 17, and 18 of this Agreement, the affairs of the Partnership shall be wound up, the assets of the Partnership liquidated, the debts paid, and the surplus divided equally among the Partners.

21. Notices.

All notices between the parties provided for or permitted under this Agreement or by law shall be in writing and shall be deemed duly served when personally delivered to a Partner or, instead of personal service, when deposited in the United States mail, as certified, with postage prepaid, and addressed to the partner at the address of the principal place of business of the Partnership or to another place that may from time to time be specified in a notice given pursuant to this paragraph as the address for service of notice on the Partner.

22. Consents and Agreement:

All consents and agreements provided for or permitted by this Agreement shall be in writing and a signed copy of them shall be filed and kept with the books of the Partnership.

23. Sole Agreement.

This instrument contains the sole agreement of the parties relating to their Partnership and correctly sets forth the rights, duties and obligations of each to the other in connection with is as of its date. Any prior agreements, promises, negotiations, or representations not expressly set forth in this Agreement are of no force or effect.

Executed this ___________________ day of _________________________, 19__________ at ______________________________ County_________________________________.

_____________________________________

** PLEASE NOTE: The above document is a sample document only and will require individual tailoring to the needs and purposes of each individual general partnership. Important considerations to incorporate in every partnership agreement include tax issues, sharing of profits based on contribution and a buy-out provision.

Information gathering instrument

This questionnaire is being issued for a market research prior to the launch of a medical supply pharmaceuticals purchases and delivery and transportation company. Your assistance is highly anticipated and would be highly appreciated. Thanks in advance. C-M___

1) What is your gender?

Male

Female

Other

2) To what age group do you belong?

18-28

29-39

40-49

50-older

3) Occupational status

Employed

Unemployed

4) Address____________________________________________________________________________________________________________________________________

5) Do you or anyone you know have a chronic illness or disability?

yes

6) If yes how often do they visit the doctor’s office?

Weekly

bi-weekly

Monthly

Other, specify _____________________

7) do you or anyone you know require a constant supply of medical supplies, equipment or pharmaceuticals

yes

8) If yes (previous question) how often do you r that person require these medical supplies?

weekly

bi-weekly

Monthly

Other, specify _____________________

9) Would you consider using a delivery service to receive your prescription medications?

Yes

10) On average, what length of time do you spend in a pharmacy?

15 minutes

30 minutes

45 minutes

Over a hour

11) What do you find that most pharmacies are lacking?

__________________________________________________________________

12) The possibility of using carry-meds to have your prescription filled and delivered to your home.

Impossible possible

Not sure Very possible

13) Do you think a pharmacy that sources medical supplies, sells mobility devices, offers specialized transportation and fill and home deliver orders is something that Jamaica needs and will support?

Yes

State your thoughts _______________________________________________________

_______________________________________________________________________

14) How does our business idea and its stated services compare to what already exists?

Different

Very different

Similar

Other ________________________________________

15) Do you think pharmaceuticals and medical supplies are too expensive?

Yes

16) Do you believe that ordering medical equipments online will be cheaper than to buy them in Jamaica?

Yes

17) Would you use an on-call specialized transportation service to take you to the doctor or other destinations?

Yes

18) How much will you be willing to pay for this service(stated above)

Per kilometer + waiting per day/ chartered

per hour + waiting Special arrangement

The Amount $______________________________

19) Do you believe you are given adequate privacy when you are filling a prescription?

Yes

b) No

20) Are you given discounts on medication when you visit the pharmacy regularly?

Yes

21) Are the medical equipment’s you or your relatives require readily available in Jamaica?

Yes

22) Do you have health insurance?

Yes

Agreement between partners

This Partnership Agreement is made on October 10, 2015 between Delroy Garrison, Mikaliah Holt, and Johnoy Hammond,

Name and Business
the parties hereby form a partnership under the name of Carry-Meds Pharmacy operate. The principal office of the business shall be Spanish town road Kingston, Jamaica, West Indies.

1. Term
The partnership shall begin on November 19, 2011 and shall continue until terminated.

2. Capital
The capital of the partnership shall be contributed in cash by the partners as follows:

· A separate capital account shall be maintained for each partner.

· Neither partner shall withdraw any part of their capital account.

· Upon the demand of either partner, the capital accounts of the partners shall be maintained at all times in the proportions in which the partners share in the profits and losses of the partnership.

3. Profit and Loss
the net profits of the partnership shall be divided equally between the partners and the net losses shall be borne equally by them. A separate income account shall be maintained for each partner. Partnership profits and losses shall be charged or credited to the separate income account of each partner. If a partner has no credit balance in their income account, losses shall be charged to their capital account.

4. Salaries and Withdrawals
neither partner shall receive any salary for services rendered to the partnership. Each partner may, from time to time, withdraw the credit balance in their income account.

5. Interest
No interest shall be paid on the initial contributions to the capital of the partnership or on any subsequent contributions of capital.

6. Management Duties and Restrictions
The partners shall have equal rights in the management of the partnership business, and each partner shall devote their entire time to the conduct of the business. Without the consent of the other partner neither partner shall on behalf of the partnership borrow or lend money, or make, deliver, or accept any commercial paper, or execute any mortgage, security agreement, bond, or lease, or purchase or contract to purchase, or sell or contract to sell any property for or of the partnership other than the type of property bought and sold in the regular course of its business.

7. Banking
All funds of the partnership shall be deposited in its name in such checking account or accounts as shall be designated by the partners. All withdrawals therefrom are to be made upon checks signed by either partner.

8. Books
The partnership books shall be maintained at the principal office of the partnership, and each partner shall, at all times have access thereto. The books shall be kept on a fiscal year basis, and shall be closed and balanced at the end of each fiscal year. An audit shall be made as of the closing date.

9. Voluntary Termination
The partnership may be dissolved at any time by agreement of the partners, in which event the partners shall proceed with reasonable promptness to liquidate the business of the partnership. The partnership name shall be sold with the other assets of the business. The assets of the partnership business shall be used and distributed in the following order:

(a) to pay or provide for the payment of all partnership liabilities and liquidating expenses and obligations;

(b) to equalize the income accounts of the partners;

(c) to discharge the balance of the income accounts of the partners;

(d) to equalize the capital accounts of the partners; and

(e) to discharge the balance of the capital accounts of the partners.

10. Death
Upon the death of either partner, the surviving partner shall have the right either to purchase the interest of the decedent in the partnership or to terminate and liquidate the partnership business. If the surviving partner elects to purchase the decedent's interest, he shall serve notice in writing of such election, within three months after the death of the decedent, upon the executor or administrator of the decedent, or, if at the time of such election no legal representative has been appointed, upon any one of the known legal heirs of the decedent at the last-known address of such heir.

(a) If the surviving partner elects to purchase the interest of the decedent in the partnership, the purchase price shall be equal to the decedent's capital account as at the date of their death plus the decedent's income account as at the end of the prior fiscal year, increased by their share of partnership profits or decreased by their share of partnership losses for the period from the beginning of the fiscal year in which their death occurred until the end of the calendar month in which their death occurred, and decreased by withdrawals charged to their income account during such period. No allowance shall be made for goodwill, trade name, patents, or other intangible assets, except as those assets have been reflected on the partnership books immediately prior to the decedent's death; but the survivor shall nevertheless be entitled to use the trade name of the partnership.

(b) Except as herein otherwise stated, the procedure as to liquidation and distribution of the assets of the partnership business shall be the same as stated in paragraph 10 with reference to voluntary termination.

11. Arbitration
Any controversy or claim arising out of or relating to this Agreement, or the breach hereof, shall be settled by arbitration in accordance with the rules, then obtaining, of the American Arbitration Association, and judgment upon the award rendered may be entered in any court having jurisdiction thereof. In witness whereof the parties have signed this Agreement.

Executed this ______________ day of _________________, 2015 in Kingston, Jamaica, West Indies.

________________________	________________________
*Signature of Party 1*	*Signature of Party 2*

________________________	________________________
*Signature of Party 3*	*Signature of Party 4*

Faculty: ...............................................................................................

School/Department: ..............................................................................

Course Code and Title: ..........................................................................

Submitted to: Name: ................................................................................

I.D. number: ........................................................................

Telephone number: ...............................................................

Date of submission: ......................................................................................

Title of assignment: .......................................................................................

Declaration: I certify that I am the author of this paper and that any assistance I received in its’ preparation is fully acknowledged and disclosed in the paper. I have also cited all sources from which I used visuals, data, idea or words. Either quoted directly or paraphrased. I also certify that this paper was prepared by me specifically for this course. I understand that a grade will not be assigned with the submission of this agreement.