What Are the Hidden Costs of Starting a Pharmaceutical Formulation Sales Business?

We are in the process of starting a business in pharmaceutical formulation sales. I would like to know about the various costs such as fixed costs, variable costs, transportation costs for the business, and any other hidden costs that can impact our business in the future so we can be prepared for that situation. Kindly let me know about the various costs involved in the business.

Thanks & Regards,
Heera Singh
Pharmaceutical Professional

Dear Mr. Heera Singh, It's good to note that you are considering all the costs associated with your business. Have you worked in a pharma company before? If so, you probably have an idea of these costs. You may go through the following threads and read my replies to past posts of a similar nature:

https://www.citehr.com/449183-busine...marketing.html

To learn about the business plan, click on the following link:

https://www.citehr.com/339378-busine...-training.html

Additional Costs to Consider

In addition to the costs you have mentioned, your success in business will roughly depend on managing the following costs:

- Inventory Carrying Cost of Raw Materials
- Work in Progress (WIP) Inventory Costs
- Inventory Carrying Cost of Finished Goods
- Capital costs to run the operations
- Capacity costs
- Maintenance costs
- Quality costs
- Marketing costs
- Ordering costs
- Other Administrative costs

You need to measure these costs scientifically. This is not easy. For this, you may need to hire a consultant. Feel free to contact me for further clarification.

All the best!

Regards,
Dinesh Divekar