Needing advice...Independent pharmacy or Walmart?

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sl0888

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I am graduating in two weeks and I have been offered a full time job by a couple that owns several independent pharmacies in my area with several more to come. They mentioned the potential to buy into a store, they like to do this with all their pharmacists if possible. I was also offered a job at Walmart as a full time hourly employee. The Walmart job pays $15 more an hour with benefits. I'm just wondering what are the pros and cons to each?

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I'm not a pharmacist yet, but I was a business owner for many years.

From a business standpoint you would not be coming in from a position of strength. Taking the lower paying job for the opportunity to "buy in" to the pharmacy is taking the position of the "have not," not the "have."

Take the Walmart job, store your money up, then actually buy into a pharmacy after having it evaluated by a cpa and your lawyer negotiate the contract. Furthermore, if you store up your money you might be able to qualify for a SBA loan and straight out buy an established pharmacy. Then there are no business partners to worry about.

Especially take that Walmart job if you might be able to score extra hours and save up more money at that higher hourly rate.
 
Wal-Mart would 've my choice. The pay difference is about 30k per year.... I would maybe work PRN at the independent of they allow.

The Walmart offer is up to 40 hours, they have not been able to guarantee me minimum weekly hours. Also, I'm in a very rural area and if Walmart doesn't work out then the only other option is the independents who at that point will own all the pharmacies in this area. I guess I'm just worried that they wouldn't want to make me another offer if I turn them down now.
 
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I think one of the key things to think about is that "buy-in" does not equal ownership. They would probably be happy to sell you a 10-20% stake in the pharmacy, with no decision-making ability whatsoever. Then you'll be vested in their pharmacy (read: stuck) for the long run.

Given the opportunity to OWN an independent - I would go independent, but it doesn't sound like you have an opportunity for ownership. So, as another poster stated, if you're looking for ownership, you'll probably be better off taking the WM job (benefits are worth a lot) and saving your money up.
 
Which area is this? Just curious, as to what area has only WM and Independents!!!! No CVS/WAGS/RITE AID/Grocery stores??
 
Which area is this? Just curious, as to what area has only WM and Independents!!!! No CVS/WAGS/RITE AID/Grocery stores??

It's in a very rural area of Arkansas. There's a Walgreens about 30 miles away, but working for them is a definite no. There are a couple of Fred's about the same distance too. Other than that, nope its all independent!
 
All you guys are talking about buying in and ownership when the OP really never expressed an interest in owning his own pharmacy. Working independent will let you see the $$$ side of pharmacy that you won't see at Walmart but you'd also be banking a lot more money at Walmart that can put towards your own pharmacy one day. What's the point of "buying in" when you don't have any say in operations?
 
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