How much could i make per year if i were to own and run a community pharmacy?

[Sean.Flynn.13]

Hello,

I am just posting this thread because i am in my last year of 6th form and hoping to embark upon a pharmacy degree next year. However, i would just like to know what type of money i can expect to make if i were to run a pharmacy within a local community, i feel that this is the role i would like to do, but would just like to know what i can expect to earn if i were to work in this area.

I would greatly appreciate any information that you can provide.

Thanks.

Sean.

[Rafael]

go and work in a pharmacy for one week as a start, it might change your overall opinion.

[Sean.Flynn.13]

I have been working there for about a month now as voluntry work experiance.

[johnep]

So, ask where you are working.
johnep

[Fleegle]

Hey Sean..

I can see where you're coming from, but you may as well have asked 'how long is a piece of string?'
Some small rural pharmacies turn over a few hundred thousand with low overheads. Large city pharmacies turn over a few million with massive overheads. And the bottom line, which is what you are really asking, is 'how much does the owner pay himself?'
I doubt any proprietor on this forum will tell you that, as you probably know, but I do know that if you work hard, and have a good business head, then retail pharmacy will be good to you. Things have changed a bit over the past few years, but the business principle remains intact.

Fleeg.

[Raju]

It can vary enourmously.

I know an independent pharmacist owner is West London whose pharmacy has a turnover of about 1.4million at 35% GP, and who mainly runs the pharmacy with his wife (of course they need other staff). Between he and his wife, they have had £250,000 a year left after costs.

A couple of other pharmacists owners I know, who seem to be doing very well, like earning a net profit of £120,000 - £140,000.

I also know two pharmacists whose businesses failed, and another who sold up cheaply because his profits were down year on year to less then what a locum would earn.

According to a Chemist and Druggist article, about £90,000 is a supposed average, with a long working week of about 60 hours.

[Asterix]

Raju, how much would you say the typical investment would be?

Also what is all this category m drawback about? I heard a lot of independents would struggle due to this.

Also, this is going to sound really appaling question but how does a pharmacy actually generate profit, for example prescriptions, how do they bring in money

[johnep]

sorry Asterix, I think you should give up all thoughts of pharmacy as a career and take a non thinking menial job.
johnep

[Asterix]

sorry Asterix, I think you should give up all thoughts of pharmacy as a career and take a non thinking menial job.
johnep

sorry but I don't need or want your advice.

[vanquish s]

Ouch thats a bit uncalled for JP. Well Asterix you pay 7.20 for your script which goes to the NHS as a tax. You then send off all the scirpts from that month and you are endorsed around 90p back for dispensing an item/scirpt. So effectively you make aroud £1 pure profit per script. So 6000items a month will generate about £6000 profit. Not including all the extra services and OTC sales.

A typical investment in good economic times would probally be 10% down payment and then a business mortage to cover the rest of the costs. So if the business is £500000. You might put down £50k and get a £450k loan for the rest.