How much does it cost to open a Pharmacy.

[Pharmanaut]

What is a 'niche' pharmacist?

tony: you really are the messiah of pharmacy, I have utmost respect for all your posts.

Niche Pharmacist/Pharmacy
One who finds an opportunity that seems marginal to other pharmacists, but makes it their own. Eg veterinary, aids for living ; or one who extends into paid clinical services.
My definition is the niche must cover costs within the first year and turn a profit second and third and NOT burn you out. Collection and delivery and nursing homes are not niches in my view!
Burn out ahoy!

[Tony Schofield]

Managing long term conditions will be a niche very soon when the CVD screening in pharmacies gets under way. It is doubtful that in some areas GPs will be able to cope with currently undiagnosed patients as they are screened out. The ageing population is making life difficult for GPs as there are so many of them and as they refuse to die early their numbers increase.

The latest DH mantra is QIPP; quality, innovation, productivity and prevention.
This will inform thinking right through the NHS and should form the principles on which bids are made if they are to have any chance of succeeding.

Erm.........."messiah"? I am a Geordie (actually a Mackem) and Geordies are fond of their messiahs. Please keep things in perspective?

[Sean.Flynn.13]

Sean, how long is a piece of string?

Pharmacies vary enormously so there is no figure that can be quoted. Pharmacies in health centres are very busy but have astronomical overheads, some housing estate pharmacies cost very little to run but don't do massive business. There is also the question of how good a businessman you are. It isn't a natural skill and some excellent pharmacists make poor managers/businessmen.

I was qualified 3 years when I first bought a business with two pharmacist partners. In that time I have seen some extreme highs and some dreadful lows:- falling out with partners, problems with the bank, near bankruptcy, NHS remuneration cuts, industrial tribunals with staff, ruinous rent reviews amongst them.

However in that time I have been an autonomous professional who practiced pharmacy as I wished, completely responsible for my own destiny who has chosen to explore avenues that are just not available to employee pharmacists. I also developed a superb business which has given me a very good lifestyle despite surviving a very expensive divorce!

By the time you qualify there will be opportunities for "niche" pharmacies (as explained elsewhere) which may not make you rich but they will afford you the autonomy most pharmacists dream of. But if you are lucky you may well be the next Allan Lloyd (original creator of Lloyds!)

I have always found that the harder I worked, the luckier I got. However please remember to get the work/life balance right.

That is the real trick.

Thanks Tony, that was a great reply and has really helped me. I know where you are coming from in what you are saying, and agree completely. I don't mean to sound naive by creating this topic, i have just completed my A levels, in business studies, biology and chemistry and am just looking for ways that i can utilize the subjects of what i have studied, and am using this to just get a general idea of what i can expect from this career, as owning my own business is one of my goals for the future.

Thanks again for your help.

Sean.

[Fleegle]

However please remember to get the work/life balance right.

That is the real trick.

So true.

Fleegle.

[Sean.Flynn.13]

Alright Asterix.

I have just noticed that you are a 3rd year pharmacy student. What is your course like? Do you find it interesting? What areas do you study?