Is it possible to open a pharmacy inside a mall?

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Hi, everyone

Me and my friends want to open a pharmacy inside a mall which is located in the heart of downtown, Flushing NY. However, there is only one internal doctor across the street. But the rent is very attractive. $5000 per 600sq ft. but not included water and electric bill, and you have to pay extra 13% for the maintenance fee. One of the biggest problem is the store is located at a corner and not noticeable and we need to pay extra money for the advertisement in the parking lot, supermarket and on the street. I don't know if this is a good deal or not. and anyone give me some suggestion especially those own a store.

Originally Posted by usakitsan

Hi, everyone

Me and my friends want to open a pharmacy inside a mall which is located in the heart of downtown, Flushing NY. However, there is only one internal doctor across the street. But the rent is very attractive. $5000 per 600sq ft. but not included water and electric bill, and you have to pay extra 13% for the maintenance fee. One of the biggest problem is the store is located at a corner and not noticeable and we need to pay extra money for the advertisement in the parking lot, supermarket and on the street. I don't know if this is a good deal or not. and anyone give me some suggestion especially those own a store.

Overall, sounds like a bad deal. If you are not buying an existing pharmacy with a current customer base you are gonna sink fast at 5k per month rent, especially without Dr's office feeding traffic to your store. 5k for 600 sq ft, is a lot. You can probably find something with more space and a better location for less. Keep in mind that for the most part, you will not start to turn profit for at least 3 years.