Does anyone knows If it really worths to open a pharmacy in the UK?

[Stratos]

OF course is for my own interest because I am thinking
to open a pharmacy in the UK.

I have a reasonable financial background....could someone tell me kindly what is the level of risk of opening new premises?

And how does it costs roughly to make a start - up?

Stratos

[vhbi_jvrg]

iam intrested too,let me know

[johnep]

AS said before, if you purchase an existing pharmacy-- no problem.
After all exactly what Mr Pessana did.
A new pharmacy has to be open for three years before overseas or EU pharmacist can run it. I don't have the reference but someone will.
johnep

[johnep]

Pharmacists who have registered by virtue of a qualification in pharmacy awarded in a European State, are not able to be the pharmacist in personal control of premises in Great Britain that have been a registered pharmacy for less than three years.
FRom PSNC document, link on another of these interminable posts.
All finished with now?
johnep

[Stratos]

AS said before, if you purchase an existing pharmacy-- no problem.
After all exactly what Mr Pessana did.
A new pharmacy has to be open for three years before overseas or EU pharmacist can run it. I don't have the reference but someone will.
johnep

I found the reference:

"Pharmacists who registered with the Society by virtue of a qualification in pharmacy awarded in a relevant European State, are not able to be the pharmacist in personal control of premises in Great Britain that have been a registered pharmacy for less than three years."

Thanks!!

[Stratos]

AS said before, if you purchase an existing pharmacy-- no problem.
After all exactly what Mr Pessana did.
A new pharmacy has to be open for three years before overseas or EU pharmacist can run it. I don't have the reference but someone will.
johnep

But if you purhase a pharmacy...and you try to make a company and open a new one (start to make a chain of pharmacies in other words... i know I am too ambitious!! ) then maybe you can avoid this rule? I don't think so but can you kindly answer to that?

[Stratos]

iam intrested too,let me know

What u want to know?

[ap1]

Unless you have a firm financial basis and knowledge of pharmacy in uk, i believe it is quite difficult to do this straight away.

You would need to use the profits of your 1st to finance your 2nd and so on. If you cannot own a pharmacy due to legislation then after paying a superintendent pharmacist and loan etc. there will not be sufficient profit to plough into next pharmacy. Most banks will require at least 25-30% deposite for first business.

[johnep]

Alan Lloyd was supposed to have sold the freehold of his first shop to give capital and then used existing shops as collateral to finance new purchases.
johnep

[Sir_Dispensalot]

the easiest way would be to buy out an existing contractor as a step into the market. then later if you were seeking to expand you could go down the route of either having a uk business partner or a superintendent and use wholesaler loans to acquire new contracts or take over other existing ones. Taking it slowly and sensibly, you could end up with around 6-10 shops in around 10 years if you have sound business skills. A private chain is a long term investment both of time and resources however if done well (and sold on to a big chain if done at the right time) could make you able to retire young with a very large bank balance.
I believe that the cohens chemist chain oop north has its founding brothers now on the uk rich list. They started out with a couple of shops in the early 90s. However they didn't sell out and continue to trade as a private chain.
I also know of a couple of other private chains who sold out and their respective owners now live very comfortably indeed.

That's how I would do it, anyway