{
 "business": "medical store",
 "url": "https://bizgame.app/medical-store-business/",
 "simulator": "https://bizgame.app/play/case/medical",
 "updated": "2026-10-25",
 "setupCostByFormat": [
  {
   "format": "Small chemist",
   "setupCostINR": 600000,
   "suggestedBudgetINR": 629500
  },
  {
   "format": "Neighbourhood chemist",
   "setupCostINR": 1000000,
   "suggestedBudgetINR": 1045000
  },
  {
   "format": "Larger store",
   "setupCostINR": 1500000,
   "suggestedBudgetINR": 1572000
  }
 ],
 "monthlyNetProfitINR": {
  "metro": [
   99500,
   199000
  ],
  "tier2": [
   15000,
   50000
  ],
  "smallTown": [
   6500,
   21500
  ]
 },
 "licences": [
  "drug licence (Form 20/21)",
  "a registered pharmacist on duty",
  "Schedule H1 register",
  "GST registration",
  "Shop & Establishment registration"
 ],
 "risks": [
  "licence suspension in inspections",
  "online pharmacy discounts",
  "expired stock",
  "price caps on scheduled drugs"
 ],
 "factors": [
  {
   "id": "A01",
   "cat": "A Setup & capital",
   "name": "Drug licence fee, Forms 20+21",
   "value": "₹1,000-3,000 one-time, plus a retention fee every 5 yrs",
   "role": "HV",
   "source": "CalcGuru / QwikFilings (conflicting)",
   "estimate": false
  },
  {
   "id": "A02",
   "cat": "A Setup & capital",
   "name": "Time to get the licence",
   "value": "14-45 days",
   "role": "HV",
   "source": "CalcGuru",
   "estimate": false
  },
  {
   "id": "A03",
   "cat": "A Setup & capital",
   "name": "Minimum floor area",
   "value": "10 sq m (≈108 sq ft); 15 sq m for retail plus wholesale",
   "role": "HV",
   "source": "Delhi DCD",
   "estimate": false
  },
  {
   "id": "A04",
   "cat": "A Setup & capital",
   "name": "Actual shop size",
   "value": "150-400 sq ft for an independent; 300-1,000 sq ft for a chain",
   "role": "PD",
   "source": "Est.. Chain figures from Franchise India",
   "estimate": true
  },
  {
   "id": "A05",
   "cat": "A Setup & capital",
   "name": "Opening stock value",
   "value": "₹3-8 lakh for 1,500-3,000 SKUs",
   "role": "PD",
   "source": "Est.: about 1-1.5 months of sales at the base case",
   "estimate": true
  },
  {
   "id": "A06",
   "cat": "A Setup & capital",
   "name": "Racks, counter, glass, signage, lighting",
   "value": "₹1.5-4 lakh",
   "role": "PD",
   "source": "Est. from shop-fitting norms",
   "estimate": true
  },
  {
   "id": "A07",
   "cat": "A Setup & capital",
   "name": "Pharma refrigerator, 2-8°C",
   "value": "₹15k-60k",
   "role": "HV",
   "source": "Rule from QwikFilings; price is an estimate",
   "estimate": true
  },
  {
   "id": "A08",
   "cat": "A Setup & capital",
   "name": "Billing/inventory software (batch, expiry, GST)",
   "value": "₹0-15k/yr",
   "role": "PD",
   "source": "Accountune lists plans from ₹0 to ₹799/yr; full suites cost more (estimate)",
   "estimate": true
  },
  {
   "id": "A09",
   "cat": "A Setup & capital",
   "name": "Security deposit",
   "value": "3-10 months' rent (Bengaluru/Mumbai at the high end)",
   "role": "HV",
   "source": "Est. from common Indian commercial lease practice",
   "estimate": true
  },
  {
   "id": "A10",
   "cat": "A Setup & capital",
   "name": "Municipal trade licence and Shops & Establishments registration",
   "value": "₹200-10,000/yr",
   "role": "HV",
   "source": "CalcGuru",
   "estimate": false
  },
  {
   "id": "A11",
   "cat": "A Setup & capital",
   "name": "Optional franchise fee",
   "value": "₹5-10 lakh",
   "role": "PD",
   "source": "Franchise India (unverified)",
   "estimate": true
  },
  {
   "id": "A12",
   "cat": "A Setup & capital",
   "name": "All-in setup cost, independent",
   "value": "₹6-15 lakh",
   "role": "HV",
   "source": "Est. = A5 + A6 + A7 + A9 + misc",
   "estimate": true
  },
  {
   "id": "B01",
   "cat": "B Location & footfall",
   "name": "Location type",
   "value": "Clinic-adjacent / hospital gate / residential / market / highway",
   "role": "PD",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "B02",
   "cat": "B Location & footfall",
   "name": "Prescribing doctors within 200 m",
   "value": "0-10",
   "role": "HV",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "B03",
   "cat": "B Location & footfall",
   "name": "Hospital or nursing-home gate",
   "value": "Yes/No",
   "role": "HV",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "B04",
   "cat": "B Location & footfall",
   "name": "Daily billed customers (base case)",
   "value": "60-150/day (tier-2 residential); 150-400 (hospital gate)",
   "role": "HV",
   "source": "Est.: ₹8-13k/day ÷ ₹120-200 ticket (C/H)",
   "estimate": true
  },
  {
   "id": "B05",
   "cat": "B Location & footfall",
   "name": "Monthly rent, 200 sq ft",
   "value": "Tier-3 ₹8-20k; tier-2 ₹15-40k; tier-1 ₹40k-1.5 lakh",
   "role": "HV",
   "source": "Est. from prevailing commercial rents",
   "estimate": true
  },
  {
   "id": "B06",
   "cat": "B Location & footfall",
   "name": "Households in walking catchment",
   "value": "1,000-5,000",
   "role": "HV",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "B07",
   "cat": "B Location & footfall",
   "name": "Competing chemists within 500 m",
   "value": "2-10 in urban areas",
   "role": "HV",
   "source": "Est.: 12.4 lakh outlets incl. distributors (Outlook)",
   "estimate": true
  },
  {
   "id": "B08",
   "cat": "B Location & footfall",
   "name": "Frontage, signage, green cross lighting",
   "value": "0-1 score",
   "role": "PD",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "B09",
   "cat": "B Location & footfall",
   "name": "Two-wheeler stop-and-go access",
   "value": "0-1",
   "role": "HV",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "B10",
   "cat": "B Location & footfall",
   "name": "Annual rent increase",
   "value": "5-10%/yr (often 5% a year or 15% every 3 yrs)",
   "role": "HV",
   "source": "Est. from common lease clauses",
   "estimate": true
  },
  {
   "id": "C01",
   "cat": "C Products, pricing & margins",
   "name": "Selling price ceiling",
   "value": "Price ≤ printed MRP (incl. GST)",
   "role": "HV",
   "source": "DPCO / CalcGuru",
   "estimate": false
  },
  {
   "id": "C02",
   "cat": "C Products, pricing & margins",
   "name": "Retailer margin on scheduled (NLEM) drugs",
   "value": "16% on PTR (≈13.8% on MRP net of GST)",
   "role": "HV",
   "source": "DPCO 2013",
   "estimate": false
  },
  {
   "id": "C03",
   "cat": "C Products, pricing & margins",
   "name": "Margin on non-scheduled branded Rx",
   "value": "≈20% on PTR (≈16-17% on selling price)",
   "role": "HV",
   "source": "Vikaspedia (industry claim)",
   "estimate": false
  },
  {
   "id": "C04",
   "cat": "C Products, pricing & margins",
   "name": "Margin on branded generics / trade generics",
   "value": "30-70%+",
   "role": "PD",
   "source": "MedPlus 2023; Accountune",
   "estimate": false
  },
  {
   "id": "C05",
   "cat": "C Products, pricing & margins",
   "name": "Private-label margin (chains)",
   "value": "≈65%",
   "role": "HV",
   "source": "DCF-analysis (unverified)",
   "estimate": true
  },
  {
   "id": "C06",
   "cat": "C Products, pricing & margins",
   "name": "OTC (pain balms, antacids, ORS)",
   "value": "15-25%",
   "role": "HV",
   "source": "Est.: big OTC brands run near FMCG trade terms",
   "estimate": true
  },
  {
   "id": "C07",
   "cat": "C Products, pricing & margins",
   "name": "Personal care / baby / FMCG",
   "value": "8-15%",
   "role": "HV",
   "source": "Est.: typical Indian FMCG retailer margins",
   "estimate": true
  },
  {
   "id": "C08",
   "cat": "C Products, pricing & margins",
   "name": "Nutraceuticals, protein, vitamins",
   "value": "25-40%",
   "role": "HV",
   "source": "Accountune says \"above medicine lines\". Range is an estimate",
   "estimate": true
  },
  {
   "id": "C09",
   "cat": "C Products, pricing & margins",
   "name": "Surgicals, devices (BP monitors, glucometers, strips, masks, gauze)",
   "value": "20-40%",
   "role": "HV",
   "source": "Est.. Accountune calls non-pharma \"widest\"",
   "estimate": true
  },
  {
   "id": "C10",
   "cat": "C Products, pricing & margins",
   "name": "Jan Aushadhi product margin",
   "value": "20% on MRP",
   "role": "HV",
   "source": "CalcGuru",
   "estimate": false
  },
  {
   "id": "C11",
   "cat": "C Products, pricing & margins",
   "name": "Discount on MRP offered to customers",
   "value": "0-20%; neighbourhood norm 5-10% on Rx bills; chains/e-pharmacy 15-25%",
   "role": "PD",
   "source": "Est.. E-pharmacy level in I",
   "estimate": true
  },
  {
   "id": "C12",
   "cat": "C Products, pricing & margins",
   "name": "Sensitivity of demand to discount",
   "value": "Chronic Rx: high (shop-switching for 10%+ gaps); acute Rx: low (urgency); FMCG: medium",
   "role": "HV",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "C13",
   "cat": "C Products, pricing & margins",
   "name": "SKUs stocked",
   "value": "1,500-4,000 (independent); 6,000+ (chain)",
   "role": "PD",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "C14",
   "cat": "C Products, pricing & margins",
   "name": "Share of sales that are Rx drugs",
   "value": "65-80%",
   "role": "HV",
   "source": "Est.: chains report a non-pharma share of about 20-30% (MedPlus non-pharma PL 9.7% of revenue)",
   "estimate": true
  },
  {
   "id": "C15",
   "cat": "C Products, pricing & margins",
   "name": "Chronic share of Rx sales",
   "value": "≈40% nationally; 50%+ in residential/elderly areas",
   "role": "HV",
   "source": "DTNext / Motilal Oswal (market level)",
   "estimate": false
  },
  {
   "id": "C16",
   "cat": "C Products, pricing & margins",
   "name": "Annual WPI-linked change to scheduled ceiling prices (each April)",
   "value": "Usually 0-2% recently, ~10% in 2022",
   "role": "RE",
   "source": "Training knowledge of NPPA WPI notices. Verify current year",
   "estimate": true
  },
  {
   "id": "C17",
   "cat": "C Products, pricing & margins",
   "name": "Max price increase on non-scheduled drugs",
   "value": "10%/12 months",
   "role": "HV",
   "source": "Vikaspedia",
   "estimate": false
  },
  {
   "id": "D01",
   "cat": "D Inputs & supply chain",
   "name": "Distributor credit period",
   "value": "7-30 days; new shops often cash/COD for the first months",
   "role": "HV",
   "source": "Est.; no published India data found",
   "estimate": true
  },
  {
   "id": "D02",
   "cat": "D Inputs & supply chain",
   "name": "Stockist delivery runs",
   "value": "1-3/day in cities; 1/day or every other day in tier-3",
   "role": "HV",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "D03",
   "cat": "D Inputs & supply chain",
   "name": "Hours to get an out-of-stock item",
   "value": "2-24 h",
   "role": "HV",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "D04",
   "cat": "D Inputs & supply chain",
   "name": "Annual stock lost to expiry/breakage",
   "value": "1-3% of purchases (non-returnable part)",
   "role": "HV",
   "source": "Est.: Accountune names expiry write-offs as a key profit leak without a number",
   "estimate": true
  },
  {
   "id": "D05",
   "cat": "D Inputs & supply chain",
   "name": "Share of expired stock that distributors credit",
   "value": "50-100% depending on company",
   "role": "HV",
   "source": "Est.; the Abbott 2017 dispute shows it is not guaranteed",
   "estimate": true
  },
  {
   "id": "D06",
   "cat": "D Inputs & supply chain",
   "name": "Stock unsellable when <3 months to expiry",
   "value": "3 months (practice)",
   "role": "HV",
   "source": "Est. (common trade practice)",
   "estimate": true
  },
  {
   "id": "D07",
   "cat": "D Inputs & supply chain",
   "name": "Volume schemes (\"10+1\", \"10+2\") on OTC/generics",
   "value": "5-20% extra margin",
   "role": "PD",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "D08",
   "cat": "D Inputs & supply chain",
   "name": "Share of Rx lines not in stock at first ask",
   "value": "5-15%",
   "role": "HV",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "D09",
   "cat": "D Inputs & supply chain",
   "name": "Cold-chain SKUs (insulin, vaccines)",
   "value": "1-3% of SKUs",
   "role": "HV",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "D10",
   "cat": "D Inputs & supply chain",
   "name": "Brand/molecule shortage",
   "value": "1-3 SKUs/month",
   "role": "RE",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "D11",
   "cat": "D Inputs & supply chain",
   "name": "Stock turns per year",
   "value": "8-12x (independent)",
   "role": "HV",
   "source": "Est.: 1-1.5 months of stock",
   "estimate": true
  },
  {
   "id": "D12",
   "cat": "D Inputs & supply chain",
   "name": "Stuck GST input credit after a rate change",
   "value": "One-off loss up to 7% on old stock",
   "role": "RE",
   "source": "Medical Dialogues 2025",
   "estimate": false
  },
  {
   "id": "E01",
   "cat": "E Operations & capacity",
   "name": "Daily opening hours",
   "value": "12-15 h (8-9am to 10-11pm); 24h at hospitals",
   "role": "PD",
   "source": "Est. (common practice)",
   "estimate": true
  },
  {
   "id": "E02",
   "cat": "E Operations & capacity",
   "name": "Days open/week",
   "value": "7 (some close half-day Sunday)",
   "role": "PD",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "E03",
   "cat": "E Operations & capacity",
   "name": "Minutes per customer",
   "value": "2-5 min; Rx with a substitution query 5-8 min",
   "role": "HV",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "E04",
   "cat": "E Operations & capacity",
   "name": "Customers/hour per counter person",
   "value": "12-25",
   "role": "HV",
   "source": "Est. = 60 / E3",
   "estimate": true
  },
  {
   "id": "E05",
   "cat": "E Operations & capacity",
   "name": "Walk-away when wait > threshold",
   "value": "Customer leaves after about 5-10 min wait",
   "role": "HV",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "E06",
   "cat": "E Operations & capacity",
   "name": "Local delivery via WhatsApp/phone",
   "value": "0-20% of orders",
   "role": "PD",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "E07",
   "cat": "E Operations & capacity",
   "name": "Inverter for fridge/lights/billing",
   "value": "₹15-40k",
   "role": "PD",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "E08",
   "cat": "E Operations & capacity",
   "name": "Computerised billing with batch/expiry",
   "value": "Most urban stores",
   "role": "HV",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "E09",
   "cat": "E Operations & capacity",
   "name": "Electricity, internet, phone",
   "value": "₹3-8k/month",
   "role": "HV",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "F01",
   "cat": "F Labour",
   "name": "Registered pharmacist salary",
   "value": "₹15-25k/month (tier 2-3); ₹22-35k (tier 1)",
   "role": "PD",
   "source": "LifeIndexed / AmbitionBox",
   "estimate": false
  },
  {
   "id": "F02",
   "cat": "F Labour",
   "name": "Owner holds D.Pharm/B.Pharm",
   "value": "Yes/No",
   "role": "PD",
   "source": "Rule; estimate",
   "estimate": true
  },
  {
   "id": "F03",
   "cat": "F Labour",
   "name": "Counter helper/salesboy",
   "value": "₹8-15k/month",
   "role": "PD",
   "source": "Est. from state minimum wages",
   "estimate": true
  },
  {
   "id": "F04",
   "cat": "F Labour",
   "name": "Delivery staff",
   "value": "₹8-12k + fuel",
   "role": "PD",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "F05",
   "cat": "F Labour",
   "name": "Staff headcount",
   "value": "2-4 incl. owner",
   "role": "PD",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "F06",
   "cat": "F Labour",
   "name": "Need for 2 shifts beyond about 12 h",
   "value": "Second pharmacist for long hours / 24h",
   "role": "PD",
   "source": "Est. from the rule",
   "estimate": true
  },
  {
   "id": "F07",
   "cat": "F Labour",
   "name": "Helper turnover",
   "value": "30-60%/yr",
   "role": "RE",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "F08",
   "cat": "F Labour",
   "name": "Pharmacist resigns",
   "value": "Probability about 2-5%/month if underpaid",
   "role": "RE",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "F09",
   "cat": "F Labour",
   "name": "Staff knowledge (substitutes, dosing queries)",
   "value": "0-1",
   "role": "PD/HV",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "F10",
   "cat": "F Labour",
   "name": "Diwali bonus",
   "value": "about 1 month's wage",
   "role": "HV",
   "source": "Est. (customary)",
   "estimate": true
  },
  {
   "id": "F11",
   "cat": "F Labour",
   "name": "Time to find a pharmacist",
   "value": "1-4 weeks",
   "role": "HV",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "G01",
   "cat": "G Demand drivers",
   "name": "Monsoon uplift on acute categories (Jul-Sep)",
   "value": "+15-30% acute; +5-12% total store sales",
   "role": "HV",
   "source": "AWACS 2019 (BT/BS); store-level scaling is an estimate",
   "estimate": true
  },
  {
   "id": "G02",
   "cat": "G Demand drivers",
   "name": "Dengue/malaria/chikungunya outbreak locally",
   "value": "Sep-Nov; doubles demand for paracetamol, ORS, platelet-check-linked items, mosquito repellents",
   "role": "RE",
   "source": "Est.. Season pattern well documented; no sales data found",
   "estimate": true
  },
  {
   "id": "G03",
   "cat": "G Demand drivers",
   "name": "Cough/cold/flu season (Dec-Feb, North India stronger)",
   "value": "+10-25% respiratory",
   "role": "HV",
   "source": "Est., consistent with AWACS respiratory seasonality",
   "estimate": true
  },
  {
   "id": "G04",
   "cat": "G Demand drivers",
   "name": "Summer heat (Apr-Jun)",
   "value": "ORS, electrolytes, antacids, sunscreen up 20-50%",
   "role": "HV",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "G05",
   "cat": "G Demand drivers",
   "name": "Smog episodes (Oct-Jan, NCR/North)",
   "value": "Masks, inhalers, cough syrups up",
   "role": "RE",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "G06",
   "cat": "G Demand drivers",
   "name": "Day-of-week",
   "value": "Mon/Tue higher (post-weekend clinic visits); Sunday lower where clinics shut",
   "role": "HV",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "G07",
   "cat": "G Demand drivers",
   "name": "Time of day",
   "value": "Peaks 10am-1pm (clinic OPD) and 6-10pm (evening clinics, office-goers)",
   "role": "HV",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "G08",
   "cat": "G Demand drivers",
   "name": "Salary-week effect",
   "value": "First 10 days of the month +10-15% (chronic refills, FMCG)",
   "role": "HV",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "G09",
   "cat": "G Demand drivers",
   "name": "Festivals (Diwali, Eid, Durga Puja)",
   "value": "Rx dips on festival days, FMCG/gifting up; post-Diwali respiratory rise",
   "role": "HV",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "G10",
   "cat": "G Demand drivers",
   "name": "Value growth of the pharma market",
   "value": "≈8-13%/yr value; ≈1-5% volume (2025-26)",
   "role": "HV",
   "source": "Outlook (AIOCD Aug 2026); Tribune (8.1% CY2025); NewKerala (Equirus 13.2% Sep 2026)",
   "estimate": false
  },
  {
   "id": "G11",
   "cat": "G Demand drivers",
   "name": "Nearby doctor on leave/closed",
   "value": "-30-60% Rx footfall for the shop that day",
   "role": "RE",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "G12",
   "cat": "G Demand drivers",
   "name": "Major epidemic (COVID-type)",
   "value": "Large spike in masks/sanitiser/vitamins, then crash",
   "role": "RE",
   "source": "Est. (2020 experience)",
   "estimate": true
  },
  {
   "id": "G13",
   "cat": "G Demand drivers",
   "name": "Heavy-rain day",
   "value": "Walk-ins -20-40%, phone/delivery orders up",
   "role": "RE",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "H01",
   "cat": "H Customer behaviour",
   "name": "Average acute/walk-in bill",
   "value": "₹100-400",
   "role": "HV",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "H02",
   "cat": "H Customer behaviour",
   "name": "Monthly chronic refill bill",
   "value": "₹800-3,000",
   "role": "HV",
   "source": "Est. (typical diabetic + BP regimen)",
   "estimate": true
  },
  {
   "id": "H03",
   "cat": "H Customer behaviour",
   "name": "Blended average bill",
   "value": "₹150-250 (tier 2-3); ₹250-400 (tier 1)",
   "role": "HV",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "H04",
   "cat": "H Customer behaviour",
   "name": "Share of customers who are regulars",
   "value": "50-70% (residential)",
   "role": "HV",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "H05",
   "cat": "H Customer behaviour",
   "name": "Chronic customer monthly loss rate",
   "value": "2-5%/month baseline; up to 8% if the discount gap with online is >15%",
   "role": "HV",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "H06",
   "cat": "H Customer behaviour",
   "name": "Share of payments by UPI/digital",
   "value": "50-75% urban; 30-50% tier 3",
   "role": "HV",
   "source": "Est.; tax rate from CalcGuru",
   "estimate": true
  },
  {
   "id": "H07",
   "cat": "H Customer behaviour",
   "name": "Credit sales to known customers",
   "value": "5-15% of sales",
   "role": "PD",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "H08",
   "cat": "H Customer behaviour",
   "name": "Bad-debt rate on udhaar",
   "value": "2-8% of credit sales",
   "role": "RE",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "H09",
   "cat": "H Customer behaviour",
   "name": "Willingness to accept a substitute brand when out of stock",
   "value": "30-60% (more for OTC)",
   "role": "HV",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "H10",
   "cat": "H Customer behaviour",
   "name": "Customers bringing an Rx for Schedule H/H1",
   "value": "Varies; the shop must require it",
   "role": "HV",
   "source": "Rule (J)",
   "estimate": false
  },
  {
   "id": "H11",
   "cat": "H Customer behaviour",
   "name": "Add-on FMCG/OTC per bill",
   "value": "10-25% of bills",
   "role": "PD/HV",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "H12",
   "cat": "H Customer behaviour",
   "name": "Elderly customers (chronic, delivery-dependent)",
   "value": "20-40% of value",
   "role": "HV",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "H13",
   "cat": "H Customer behaviour",
   "name": "Trust/relationship score",
   "value": "0-1",
   "role": "HV",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "I01",
   "cat": "I Competition & market",
   "name": "E-pharmacy share of local demand",
   "value": "Tier 1: 8-15%; tier 2: 3-8%; tier 3: 1-3% (rising 1-2 pts/yr)",
   "role": "HV",
   "source": "CRISIL / Ken Research (national) + tier split estimate",
   "estimate": true
  },
  {
   "id": "I02",
   "cat": "I Competition & market",
   "name": "Online discount level",
   "value": "15-25% typical, up to 50%+ promos",
   "role": "HV",
   "source": "AIOCD (Outlook)",
   "estimate": false
  },
  {
   "id": "I03",
   "cat": "I Competition & market",
   "name": "Quick commerce delivering OTC/Rx in 10-30 min",
   "value": "Tier 1 yes; tier 2 partly; tier 3 no",
   "role": "HV",
   "source": "Ken Research / Captable",
   "estimate": false
  },
  {
   "id": "I04",
   "cat": "I Competition & market",
   "name": "Chain store within 500 m",
   "value": "0/1; tier 1 likely",
   "role": "RE",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "I05",
   "cat": "I Competition & market",
   "name": "Jan Aushadhi Kendra nearby",
   "value": "0/1",
   "role": "RE",
   "source": "IANS / Medical Dialogues",
   "estimate": false
  },
  {
   "id": "I06",
   "cat": "I Competition & market",
   "name": "Local rival's discount",
   "value": "0-20%",
   "role": "RE",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "I07",
   "cat": "I Competition & market",
   "name": "Join an aggregator (PillO, Swiggy partner) for orders",
   "value": "+3-10% orders, commission about 5-15%",
   "role": "PD",
   "source": "Captable (model); numbers estimate",
   "estimate": true
  },
  {
   "id": "I08",
   "cat": "I Competition & market",
   "name": "Chain store benchmark",
   "value": "≈₹1.59 cr/yr revenue; 22-26% gross; 9-13% store EBITDA",
   "role": "HV",
   "source": "Tradejini; Quartr",
   "estimate": false
  },
  {
   "id": "I09",
   "cat": "I Competition & market",
   "name": "E-pharmacy rules tightened/loosened",
   "value": "Draft since 2018; still contested in 2026",
   "role": "RE",
   "source": "Ken Research; AIOCD",
   "estimate": false
  },
  {
   "id": "I10",
   "cat": "I Competition & market",
   "name": "Trade-body bandh day",
   "value": "1 day closure (e.g., 20 May 2026)",
   "role": "RE",
   "source": "Medical Dialogues",
   "estimate": false
  },
  {
   "id": "J01",
   "cat": "J Regulation & compliance",
   "name": "GST on most medicines",
   "value": "5% (nil on 36 life-saving drugs; FMCG/cosmetics at their own slabs, often 18%)",
   "role": "HV",
   "source": "EY / AIR",
   "estimate": false
  },
  {
   "id": "J02",
   "cat": "J Regulation & compliance",
   "name": "GST registration threshold",
   "value": "₹40 lakh turnover (most states)",
   "role": "HV",
   "source": "CalcGuru",
   "estimate": false
  },
  {
   "id": "J03",
   "cat": "J Regulation & compliance",
   "name": "Presumptive taxable income",
   "value": "8% of turnover (6% digital)",
   "role": "HV",
   "source": "CalcGuru",
   "estimate": false
  },
  {
   "id": "J04",
   "cat": "J Regulation & compliance",
   "name": "Pharmacist present during Rx sales",
   "value": "Mandatory",
   "role": "HV",
   "source": "CalcGuru; inspection news",
   "estimate": false
  },
  {
   "id": "J05",
   "cat": "J Regulation & compliance",
   "name": "Schedule H needs a valid Rx",
   "value": "Mandatory",
   "role": "HV",
   "source": "Rules 1945; FPJ",
   "estimate": false
  },
  {
   "id": "J06",
   "cat": "J Regulation & compliance",
   "name": "Separate H1 register (3-yr retention)",
   "value": "Mandatory",
   "role": "HV",
   "source": "CalcGuru; LiveLaw",
   "estimate": false
  },
  {
   "id": "J07",
   "cat": "J Regulation & compliance",
   "name": "Schedule X (narcotic/psychotropic)",
   "value": "Separate licence, double lock; most small shops don't stock",
   "role": "HV",
   "source": "CalcGuru",
   "estimate": false
  },
  {
   "id": "J08",
   "cat": "J Regulation & compliance",
   "name": "Drug inspector visit",
   "value": "1-2/yr routine; surprise drives in campaigns",
   "role": "RE",
   "source": "Est. from news frequency",
   "estimate": true
  },
  {
   "id": "J09",
   "cat": "J Regulation & compliance",
   "name": "Result if lapses found",
   "value": "Show-cause → suspension of a few days to weeks → cancellation",
   "role": "RE",
   "source": "FPJ, Herald Goa, Daily Excelsior",
   "estimate": false
  },
  {
   "id": "J10",
   "cat": "J Regulation & compliance",
   "name": "Selling above MRP/ceiling",
   "value": "Prohibited; NPPA recovery plus interest",
   "role": "HV",
   "source": "DPCO / CalcGuru",
   "estimate": false
  },
  {
   "id": "J11",
   "cat": "J Regulation & compliance",
   "name": "Retention fee every 5 yrs",
   "value": "Small fee",
   "role": "HV",
   "source": "CalcGuru",
   "estimate": false
  },
  {
   "id": "J12",
   "cat": "J Regulation & compliance",
   "name": "GST rate-change transition",
   "value": "One-off MRP/ITC adjustments (Sep 2025 example)",
   "role": "RE",
   "source": "Medical Dialogues",
   "estimate": false
  },
  {
   "id": "J13",
   "cat": "J Regulation & compliance",
   "name": "Record-keeping time/software/CA fees",
   "value": "₹1-3k/month",
   "role": "HV",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "J14",
   "cat": "J Regulation & compliance",
   "name": "Pharmacist's registration renewal",
   "value": "Periodic (state)",
   "role": "HV",
   "source": "Est. (state council practice)",
   "estimate": true
  },
  {
   "id": "K01",
   "cat": "K Marketing & reputation",
   "name": "\"Has everything\" reputation",
   "value": "0-1 (driven by fill rate)",
   "role": "HV",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "K02",
   "cat": "K Marketing & reputation",
   "name": "Displaying \"Flat X% off\"",
   "value": "Yes/No",
   "role": "PD",
   "source": "Est.; AIOCD contest",
   "estimate": true
  },
  {
   "id": "K03",
   "cat": "K Marketing & reputation",
   "name": "WhatsApp ordering/refill reminders",
   "value": "0-1",
   "role": "PD",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "K04",
   "cat": "K Marketing & reputation",
   "name": "Google Maps rating/reviews",
   "value": "3.5-4.8 stars",
   "role": "HV",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "K05",
   "cat": "K Marketing & reputation",
   "name": "Relationship with nearby doctors (stocking their Rx brands)",
   "value": "0-1",
   "role": "PD/HV",
   "source": "Est.. Ethical framing only",
   "estimate": true
  },
  {
   "id": "K06",
   "cat": "K Marketing & reputation",
   "name": "Free BP/sugar check camp",
   "value": "₹2-10k per event",
   "role": "PD",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "K07",
   "cat": "K Marketing & reputation",
   "name": "Points/refill discount card",
   "value": "2-5% back",
   "role": "PD",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "K08",
   "cat": "K Marketing & reputation",
   "name": "Referral growth",
   "value": "Slow; +1-3% customers/month at high trust",
   "role": "HV",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "K09",
   "cat": "K Marketing & reputation",
   "name": "Wrong medicine dispensed / complaint",
   "value": "Rare",
   "role": "RE",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "L01",
   "cat": "L Risks & shocks",
   "name": "Universal 16% retail cap notified",
   "value": "Low-medium probability/yr",
   "role": "RE",
   "source": "Sahi",
   "estimate": false
  },
  {
   "id": "L02",
   "cat": "L Risks & shocks",
   "name": "Suspension after inspection",
   "value": "Days-weeks closed",
   "role": "RE",
   "source": "FPJ / Herald Goa",
   "estimate": false
  },
  {
   "id": "L03",
   "cat": "L Risks & shocks",
   "name": "Fridge/power failure spoils insulin/vaccines",
   "value": "₹5-30k loss",
   "role": "RE",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "L04",
   "cat": "L Risks & shocks",
   "name": "Shoplifting/staff pilferage",
   "value": "0.5-1.5% of sales",
   "role": "RE",
   "source": "Est. (retail norm)",
   "estimate": true
  },
  {
   "id": "L05",
   "cat": "L Risks & shocks",
   "name": "Batch recall / NSQ (not of standard quality) alert",
   "value": "Several/yr nationally",
   "role": "RE",
   "source": "Est. (CDSCO monthly NSQ lists)",
   "estimate": true
  },
  {
   "id": "L06",
   "cat": "L Risks & shocks",
   "name": "Spurious stock from an unreliable supplier",
   "value": "Low if from licensed stockists",
   "role": "RE",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "L07",
   "cat": "L Risks & shocks",
   "name": "Over-buying for a season that doesn't arrive (weak monsoon)",
   "value": "5-15% excess stock",
   "role": "HV",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "L08",
   "cat": "L Risks & shocks",
   "name": "Landlord hike/eviction at renewal",
   "value": "Every 3-11 yrs",
   "role": "RE",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "L09",
   "cat": "L Risks & shocks",
   "name": "Flood/waterlogging (monsoon)",
   "value": "Rare; heavy loss",
   "role": "RE",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "L10",
   "cat": "L Risks & shocks",
   "name": "Rival or online deep discount campaign",
   "value": "Weeks",
   "role": "RE",
   "source": "AIOCD",
   "estimate": false
  },
  {
   "id": "L11",
   "cat": "L Risks & shocks",
   "name": "GST rate change with MRP revision",
   "value": "Occasional (Sep 2025)",
   "role": "RE",
   "source": "Medical Dialogues",
   "estimate": false
  },
  {
   "id": "M01",
   "cat": "M Financing",
   "name": "Net working capital",
   "value": "≈1-1.5 months of COGS + udhaar - supplier credit",
   "role": "HV",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "M02",
   "cat": "M Financing",
   "name": "Mudra/MSME loan size",
   "value": "₹50k-10 lakh (Shishu/Kishore/Tarun); now up to ₹20 lakh (Tarun Plus)",
   "role": "PD",
   "source": "Training knowledge of PMMY limits (2024 budget raised the cap to ₹20 lakh)",
   "estimate": true
  },
  {
   "id": "M03",
   "cat": "M Financing",
   "name": "Interest rate on a small business loan",
   "value": "9-14%/yr",
   "role": "HV",
   "source": "Est. (2025-26 MSME lending range)",
   "estimate": true
  },
  {
   "id": "M04",
   "cat": "M Financing",
   "name": "Owner's own funds",
   "value": "30-60% of setup",
   "role": "HV",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "M05",
   "cat": "M Financing",
   "name": "Value of distributor credit as financing",
   "value": "≈₹1-3 lakh rolling",
   "role": "HV",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "M06",
   "cat": "M Financing",
   "name": "JAK purchase incentive",
   "value": "10% capped at ₹10k/month (2025) [older: 15-20% at ₹20k]",
   "role": "HV",
   "source": "IANS / CalcGuru (conflicting)",
   "estimate": false
  },
  {
   "id": "M07",
   "cat": "M Financing",
   "name": "Receivables from udhaar",
   "value": "5-15% of monthly sales outstanding",
   "role": "HV",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "M08",
   "cat": "M Financing",
   "name": "Moneylender/chit funding",
   "value": "18-36%/yr",
   "role": "RE",
   "source": "Est.",
   "estimate": true
  },
  {
   "id": "N01",
   "cat": "N Unit economics benchmarks",
   "name": "Daily revenue",
   "value": "Tier 3: ₹4-8k; tier 2: ₹8-15k; tier 1/hospital: ₹15-50k",
   "role": "HV",
   "source": "Est. anchored to the ₹0.23 cr/yr average (Tradejini)",
   "estimate": true
  },
  {
   "id": "N02",
   "cat": "N Unit economics benchmarks",
   "name": "Monthly revenue",
   "value": "₹1.5-5 lakh (independent); ₹13 lakh (chain avg)",
   "role": "HV",
   "source": "Tradejini + estimate",
   "estimate": true
  },
  {
   "id": "N03",
   "cat": "N Unit economics benchmarks",
   "name": "Blended gross margin",
   "value": "17-22% independent; 22-26% chain",
   "role": "HV",
   "source": "Accountune; Quartr",
   "estimate": false
  },
  {
   "id": "N04",
   "cat": "N Unit economics benchmarks",
   "name": "Rent as % of sales",
   "value": "5-10%",
   "role": "HV",
   "source": "Est. (B5/N2)",
   "estimate": true
  },
  {
   "id": "N05",
   "cat": "N Unit economics benchmarks",
   "name": "Staff as % of sales",
   "value": "6-12%",
   "role": "HV",
   "source": "Est. (F1+F3)/N2",
   "estimate": true
  },
  {
   "id": "N06",
   "cat": "N Unit economics benchmarks",
   "name": "Net profit margin",
   "value": "4-10% (owner's labour not costed)",
   "role": "HV",
   "source": "Est.; Accountune (\"double digits strong\")",
   "estimate": true
  },
  {
   "id": "N07",
   "cat": "N Unit economics benchmarks",
   "name": "Owner's monthly take-home",
   "value": "₹15-50k typical; <₹5k for weak/JAK shops; ₹1 lakh+ hospital-gate",
   "role": "HV",
   "source": "Est.; CHRISMED 2018",
   "estimate": true
  },
  {
   "id": "N08",
   "cat": "N Unit economics benchmarks",
   "name": "Monthly sales to break even",
   "value": "≈₹1.5-2.5 lakh (fixed cost ₹30-50k ÷ 20% GM)",
   "role": "HV",
   "source": "Est. (arithmetic)",
   "estimate": true
  },
  {
   "id": "N09",
   "cat": "N Unit economics benchmarks",
   "name": "Months to operating break-even (new store)",
   "value": "6-18 months (independent); chains claim about 5 months",
   "role": "HV",
   "source": "Est.; MedPlus claim via Quartr",
   "estimate": true
  },
  {
   "id": "N10",
   "cat": "N Unit economics benchmarks",
   "name": "Capex payback",
   "value": "2-4 yrs",
   "role": "HV",
   "source": "Est. (A12 ÷ annual net)",
   "estimate": true
  },
  {
   "id": "N11",
   "cat": "N Unit economics benchmarks",
   "name": "Chain mature-store EBITDA",
   "value": "9.3-13.1%",
   "role": "HV",
   "source": "Quartr",
   "estimate": false
  },
  {
   "id": "N12",
   "cat": "N Unit economics benchmarks",
   "name": "National pharma market",
   "value": "≈₹2.4 lakh cr (2025); 8-13% value growth",
   "role": "HV",
   "source": "Tribune; Outlook",
   "estimate": false
  }
 ],
 "note": "Researched estimates as of late 2026 from public sources; rows with estimate=true have no direct source. For learning, not financial advice."
}