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Private Pharmacy???
Started by ASDF 686
No it is not common because remember you have walgreen, and CVS.
I agree, the cost of opening a pharmacy and the time required has pushed many to already established pharmacys. Plus the pay is great without any of the headaches.
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dying breed, but if you can find a niche doing compounding and selling DME, it could possibly work.
It seems more common for someone to buy an already set-up independent pharmacy, say if the original owner decides to retire or do something else. It's a good option so you don't have to worry about setting things up or starting a client base. New compounding pharmacies seem to be opening up slowly and doing well, but you definitely have to make sure you would have a market for it. There is one compounding pharmacy here that has done so well it actually has multiple locations and branched out to the Phoenix market. So yes it is profitable, but very few people go that route because it's risky.
My maternal grandfather owned his own pharmacy in the mid-1900's, then my uncle took it over when my grandfather retired. My uncle then sold to a chain when he retired. My father owned his own store through the 1980's, then sold to a chain. I was young at the time, but I remember my father saying that independent stores don't have enough cash flow because most prescriptions go through insurance companies, which wasn't the case when my grandfather was a pharmacist. Throughout the 1990's, I watched the last few independents sell to chains or close.
The only independent pharmacy I know of where I live now is a compounding store. I think it's sad that big business has made the independent stores obsolete.
The only independent pharmacy I know of where I live now is a compounding store. I think it's sad that big business has made the independent stores obsolete.
Does anyone see an osteopathic, whole-wellness independent pharmacy do well? I was looking at Pharmaca (www.pharmaca.com) out on the west coast and was thinking of going into a similar entrepreneurial business here in my local area after pharm school.
😀 Trying to ride on the Whole Foods band wagon.
Lol...so how long until Whole Foods puts pharmacies in their stores?
Never. They believe in none script all natural stuff.
Actually, yeah.
Don't forget that corporations took over the independents by having those huge warehouses full of drugs that were bought directly from the manufactures.
Hey, I am thinking about opening my own drug store. Who wants to work for me?
