Should I buy my own pharmacy?
March 5, 2012
As a pharmacist
you answer many
questions every
day: Is this the right
tablet? Which medicine is best?
Can you please serve Mr Smith I
can’t stand to talk to him again?
But how often do you think
about the inevitable question –
should I buy my own pharmacy?
Whilst lecturing I continually
hear first year students
contemplating this dilemma!
I tell them to consider this – do
you want to be a pharmacist in
business or a business owner in
pharmacy?
The roles share similarities AND
some fundamental differences.
Buying a pharmacy
necessitates that you become an
effective employer, take
financial control, understand
legal and contractual obligations
and take responsibility for the
performance of your pharmacy
in every way – a tough ask!
Statistics show the vast
number of businesses go
bankrupt in the first 12 months
of operation.
To be a success story you must
be ready to move beyond the
role of pharmacist and take on
these new challenges.
Talking through your financial
and legal position with an expert
BEFORE considering your
options is a wise move.
Building an experienced,
effective team around you is also
integral to a successful business.
Advice and research are
essential because nothing in
your pharmacy training prepares
you for the exciting ride that is
business ownership!
For more details on becoming a
Pharmacy owner or buying and
selling, email -
prowe@razorbs.com.au.
This week’s contributor is
Paul Rowe, Chief
Executive of
Razor Group of
Companies
The above article was sent to subscribers in Pharmacy Daily's issue from 05 Mar 12To see the full newsletter, see the embedded issue below or CLICK HERE to download Pharmacy Daily from 05 Mar 12
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