Opening a Pharmacy Part 1: Why Open an Independent Pharmacy

By Steve Di Orio
Posted in Store Management
On September 26, 2012

If you work for a large pharmacy chain, there is a good chance that you have fantasized about striking out and opening your own shop. You might have day dreamed about the charming neighborhood store you would run. You can probably picture it: a clean, quaint but modern pharmacy dedicated to serving the needs of your community.

 

Make your dreams come true. The time to strike out on your own is now. There are many reasons why this is a great time to open your own store.

Aging Baby Boomers Are Pushing Demand

As the baby boomers enter their retirement years, the need for prescription medicine is on the rise. The need for convenient pharmacies is on the rise with it. Many of these baby boomers will be looking for locally-owned and operated alternatives to the big chains. Many will also prefer the personal touch that only a small, independent shop can provide.

You Have the Experience

If you are coming from one of the big chains, you have the experience you need to succeed. You understand their flaws and know how to make your pharmacy a fleeter, more efficient store. You know the services you can provide that your competitors do not. For instance, you can offer delivery services if none of the chains currently do.

There Are Communities that Are Not Served by the Big Chains

While it might seem that the big chains are everywhere, this is not the case. There are many communities that are not served or are underserved by the major chains. For instance, many rural communities do not have access to a major pharmacy, and aging individuals do not have internet access to order prescriptions online. Even in a city, there are niche communities that will be better served by an independent pharmacy. For instance, a pharmacy run by a Hispanic individual would be better in touch with the needs of a Hispanic community.

 

There are many other reasons to open your own pharmacy. Here at Handy Store Fixtures, we have helped hundreds of individuals open their own stores. We want to share our experience with you. In our next installment of this series we will delve into what makes for a good pharmacy location.

Steve Di Orio

Steve Di Orio

Steven DiOrio has been with Handy Store Fixtures for over 11 years. After becoming the Marketing Manager in 2006, very recently he was named Director of Marketing. Currently, Steven is pursuing his MBA from Montclair State University with a specialization in Digital Marketing. When not at work, he loves to travel, play golf, exercise, and talk all things search engine marketing and retail display tips.