Independant pharmacies in the future...

[ac24]

What do you guys think will become of independant pharmacies in the next
10 years and onwards?

Im currently a student thinking about doing pharmacy. One area which interests me is having the oppertunity to one day own a pharmacy. Any information/advice/anything will be helpful.

Will they still exist as successful businesses?

What do YOU think?

[Linnear]

I'm surpirsed any have lasted this long!

In Cornwall there are about five independents left.

Tescos and Alliance Boots ahave wrapped up the rest.

[Zoggite]

I'm afraid I'd have to agree with Linnear- I don't think there'll be any independent pharmacies left in the country...
Your best bet would probably be to relocate to one of the european countries that (still) have laws restricting the ownership of pharmacies to pharmacists only, like spain, italy and greece (I think!).

[Linnear]

I'm afraid I'd have to agree with Linnear-

Bet that hurt!

[ac24]

I'm surpirsed any have lasted this long!

In Cornwall there are about five independents left.

Tescos and Alliance Boots ahave wrapped up the rest.

are you sure of this... thats in cornwall

where i live.. there seems to be an independant pharmacy on nearly every road which has shops on it (a west london town).

anyway.. so do you think it will be impossible to own a pharmacy and make good money in the future? Surely independants should realise this and think about not selling theirs to a chain straight away even though it would be hard not to.

quite annoying this... so i would only be able to work as a pharmacist with a salary which never exceeds about 40k (retail)?


I dont understand why loads (increase of about 9% this year) of people are going into pharmacy.. maybe this is for another thread though..

new question..
in the future how difficult would it be to run your own pharmacy? will it actually be possible.. i.e new area.. starting from scratch?

[Linnear]

It's getting harder and harder.

The multiples and supermarkets are selling drugs at a few pence and each new innovation brings in more cost.

The latest contract was block voted in by th emultiples who would do anything to get the money meaning that pharmacists have to do more work for the same or less money.

The best bit about this latest one of course was the need for a private consultation room. Don't get me wrong I think they're great but not many independents can afford to have their shop refitted just to comply with the new regs.

[Jeff]

Depends a lot on what the decision is about contract limitation - if it's scapped (as I hope) then independants could return.

Even in the current situation it should be possible to open almost anywhere because of the level of service you are prepared to offer
e.g. better choice of products because you are not limited by head office planograms
Lower OTC prices for P medicines than the multiples.
Internet access - for more up to date and patient orietated information e.g. the Prodigy PILS as required.
Extended opening hours (e.g. Saturdays or Sundays - 100 hours isn't the only option).
Continuity of care - as an owner you would expect to be working there yourself for at least five years.

Jeff (for once optimistic)

[Zoggite]

Jeff (for once optimistic)

Blimey!! What's brought this on?!?
I thought I was the only optimist in the village!

[Steve G]

I think independents will always be around because they can run rings around the multiples when it comes to customer service. They can also react to developments and new ideas quicker than the multiples which have god knows how many layers of management to go through before anything can be introduced.

I'm not sure about contract limitation though. At present I suspect it protects existing independents, but it puts a premium on the price when a pharmacy goes up for sale. If control of entry is scrapped, then there will be no barrier to entry (bar startup costs of course), but this of course leaves existing pharmacies open to leapfrogging as happened in the past.

[J CRAIGMYLE]

Re: Independant pharmacies in the future...

What do you guys think will become of independant pharmacies in the next
10 years and onwards?

Im currently a student thinking about doing pharmacy. One area which interests me is having the oppertunity to one day own a pharmacy. Any information/advice/anything will be helpful.

Will they still exist as successful businesses?

What do YOU think?

Hi,
I have run a pharmacy near a doctors surgery for 10 years. It has changed and developed since that time and a lot of it depends on goverment initiatives, the short answer is, who can tell? This labour government has brought about changes that had a huge effect on reducing profits last year. The other side of the coin is what is a safe option in this financial climate?

[Tony Schofield]

Re: Independant pharmacies in the future...

Independents will always have a future. The public does not need it's pharmacy service decided from a remote head office it needs a local person responding to local needs.

The future will be PCTs conducting pharmaceutical needs assessments, identifying gaps in service and putting contracts out to tender on the basis of quality of service. That will be better than control of entry going as those that invest will have some element of protection of their investment. Those that ignore local needs will find the PCT offering a contract that fulfills those needs to compete with those that get lazy and complacent.

If you can raise the cash now, pharmacies have collapsed in value and some of the big boys are looking to get rid of some of their acquisitions. (Boots ahve absorbed a lot of small chains and are looking to unload some of their "dead wood". It may be dead wood to them but to an innovative, entrepreneurial proprietor it is a golden opportunity).

I have been an independent since 1981 and I see no reason to back off now. The only area where multiples have really dented me is the way health centre rentals have defied gravity and continue to do so despite other rentals having fallen 30% in a year.

Do not give up if you want to own your own business. There will always be as there always have been, opportunities. However you must find them for yourself. If I find them I won't be telling someone until I open for business.

You must do the same.