Career Change to Pharmacy

[inthesea]

I am thinking of applying to pharmacy school in my 30s. My long-term goal is to eventually start an independent pharmacy in a semi-rural/rural area with a couple other relatives who are pharmacists and interested in doing this as well. [Eventually] having autonomy, decent income, not having to take home work and being able to serve underserved areas are some of my reasons for having this goal.

I have good chances of getting accepted to a well-ranked pharmacy program and would not have to take out loans or relocate. I'm not worried about the opportunity cost from leaving my current job as I think I can recoup it quickly given my circumstances.

Would appreciate any advice (optimistic or pessimistic) as well as any resources that may be helpful to consider. Thank you!

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[RxPreceptor]

Plenty of pessimism on these boards…sigh
Somewhat grim outlook & dropping enrollment rates. Just curious what general part of the country? And thoughts, concerns about Amazon growth, ability to impact brick and mortar location?

 

[lord999]

Before you jump, please get yourself a job as as a tech. Work six months at least, this gives you the opportunity to think about the unspoken requirements that you have for fulfilling work.

 

[Pronounce Doxazosin]

Running an independent pharmacy in the US is extremely difficult due to reimbursement issues
I would discuss with your relative pharmacists about how serious they are about opening a pharmacy. Who’s gonna pay for the starting cost? When do they plan on starting operation.

Unless they can provide a concrete plan, I would be suspicious

 

[steveysmith54]

I am thinking of applying to pharmacy school in my 30s. My long-term goal is to eventually start an independent pharmacy in a semi-rural/rural area with a couple other relatives who are pharmacists and interested in doing this as well. [Eventually] having autonomy, decent income, not having to take home work and being able to serve underserved areas are some of my reasons for having this goal.

I have good chances of getting accepted to a well-ranked pharmacy program and would not have to take out loans or relocate. I'm not worried about the opportunity cost from leaving my current job as I think I can recoup it quickly given my circumstances.

Would appreciate any advice (optimistic or pessimistic) as well as any resources that may be helpful to consider. Thank you!

Sounds like you have everything figured out and you're not looking for other's perspectives or points of view.
Good luck.

 

[steveysmith54]

I am thinking of applying to pharmacy school in my 30s. My long-term goal is to eventually start an independent pharmacy in a semi-rural/rural area with a couple other relatives who are pharmacists and interested in doing this as well. [Eventually] having autonomy, decent income, not having to take home work and being able to serve underserved areas are some of my reasons for having this goal.

I have good chances of getting accepted to a well-ranked pharmacy program and would not have to take out loans or relocate. I'm not worried about the opportunity cost from leaving my current job as I think I can recoup it quickly given my circumstances.

Would appreciate any advice (optimistic or pessimistic) as well as any resources that may be helpful to consider. Thank you!

I guess the only comments that i will make are the following:
As a pharmacy owner/pharmacist[, you never have autonomy. You must always be in compliance with the board of pharmacy, DEA, pharmacy benefit managements, etc. Get ready for audits.
As far as not taking work home, I recommend that you speak to business owners, especially pharmacy owners.

 

[RxPreceptor]

Do you have a genuine, legitimate interest in medications, disease states, health science?

I think I speak for many us when I voice my concern about making sure you know what you are getting into (have plenty of real world experience beforehand) & not falling into that gross, ignorant idea that pharmacy is an easy money career

 

[inthesea]

EDIT: After thinking about this for some more time, I think I'll put this on the back burner and consider some alternative career paths. I guess I just wanted to float this idea by some other pharmacists. Thank you for the feedback.

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Plenty of pessimism on these boards…sigh
Somewhat grim outlook & dropping enrollment rates. Just curious what general part of the country? And thoughts, concerns about Amazon growth, ability to impact brick and mortar location?

Northeast US. Yes, I would be concerned about competition from online pharmacy, but would hope that OTCs, immunizations, consulting, a niche like non-sterile compounding or veterinary medication and soda/drinks/snacks/etc. would offer an edge. I have been told compounding is a hassle, liability, etc. and that I should avoid it. Still doing my research and appreciate any suggestions.

Before you jump, please get yourself a job as as a tech. Work six months at least, this gives you the opportunity to think about the unspoken requirements that you have for fulfilling work.

I can do this. I may have the opportunity to work or at least shadow (long-term) a hospital pharmacy tech and pharmacist. Would that be comparable enough, or do you recommend gaining retail experience? If the business didn't work out, my backup-plan would be retail (or some of the work I do on the side), so I realize it may be a good idea to get retail experience.

Running an independent pharmacy in the US is extremely difficult due to reimbursement issues
I would discuss with your relative pharmacists about how serious they are about opening a pharmacy. Who’s gonna pay for the starting cost? When do they plan on starting operation.

Unless they can provide a concrete plan, I would be suspicious

I would be responsible for all costs and would employ my relatives (who would help me get set up as I graduate and work in retail to gain some experience). No concrete plan at the moment, but that is something I can try to put together.

I guess the only comments that i will make are the following:
As a pharmacy owner/pharmacist[, you never have autonomy. You must always be in compliance with the board of pharmacy, DEA, pharmacy benefit managements, etc. Get ready for audits.
As far as not taking work home, I recommend that you speak to business owners, especially pharmacy owners.

I have not made up my mind about pharm school and do appreciate the advice. Maybe I was too self-assured in my original post, but I was just trying to make my case given the negative image of pharmacy education and practice on the web. I will reach out to an independent pharmacy owner.

Do you have a genuine, legitimate interest in medications, disease states, health science?

I think I speak for many us when I voice my concern about making sure you know what you are getting into (have plenty of real world experience beforehand) & not falling into that gross, ignorant idea that pharmacy is an easy money career

I do. I grew up around pharmacists and have worked in the health sciences for years.

 

[lord999]

EDIT: After thinking about this for some more time, I think I'll put this on the back burner and consider some alternative career paths. I guess I just wanted to float this idea by some other pharmacists. Thank you for the feedback.

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Northeast US. Yes, I would be concerned about competition from online pharmacy, but would hope that OTCs, immunizations, consulting, a niche like non-sterile compounding or veterinary medication and soda/drinks/snacks/etc. would offer an edge. I have been told compounding is a hassle, liability, etc. and that I should avoid it. Still doing my research and appreciate any suggestions.


I can do this. I may have the opportunity to work or at least shadow (long-term) a hospital pharmacy tech and pharmacist. Would that be comparable enough, or do you recommend gaining retail experience? If the business didn't work out, my backup-plan would be retail (or some of the work I do on the side), so I realize it may be a good idea to get retail experience.


I would be responsible for all costs and would employ my relatives (who would help me get set up as I graduate and work in retail to gain some experience). No concrete plan at the moment, but that is something I can try to put together.


I have not made up my mind about pharm school and do appreciate the advice. Maybe I was too self-assured in my original post, but I was just trying to make my case given the negative image of pharmacy education and practice on the web. I will reach out to an independent pharmacy owner.


I do. I grew up around pharmacists and have worked in the health sciences for years.

If you are going to own a retail (not closed shop) pharmacy, work the position. Historically, the way someone became a successful owner (not just an owner), is that they apprenticed themselves to an experienced shop for 5 to 8 years, learning not just how to practice, but the bookeeping, the pricing, and vendor relationships necessary to strike out on their own. If you are not willing to actually invest some easy sweat and blood into working retail if you're thinking about owning one, your chances of success are virtually nil.

Ownership is likened to winning a pie eating contest, with the prize being more pie.

 

[lord999]

In modern times, I tell students that unless they are born to the profession (like I was), I would work 2-3 years at a chain pharmacy as a manager, and preferably also as a front end manager. Don't work for most independents, who think of you as the competition as well, and are unlikely to show you their hand lest you steal their business.

You really do need to learn how store operations work, and preferably on someone else's dime. There is no substitute for work in terms of the unwritten rules of running operations in a business. This is the logic behind why very few reputable business school accept students who have not worked for a period into an MBA program.