• LATEST PHARMACY NEWS AND EDITORIAL

    LATEST PHARMACY NEWS AND EDITORIAL

Our latest thoughts and inspirations on buying a pharmacy, starting a pharmacy, and ongoing pharmacy operations

Is Starting or Buying a Pharmacy Risky?

I am often asked this question.   My response is always the same.  It depends on you the individual.  Everyone looks at risk differently and everyone has a different definition of what risk is. 

I personally ask myself one question, is working for someone else safe?  Some say yes, you receive a bi-weekly check from a big company that will not fail in my lifetime and if you do a good job they will probably continue to employ you.  However to me the large company is less secure, they can make mistakes, be drastically affected by economy, go out of business or be sold and you lose your job or they have to lay you off to meet stockholder expectations.

On the other hand if you own your own business (especially a pharmacy) you can sell the business and you may be out of a job (you may not as you could work for the company that purchased your business) but at least you receive a reward in the form of money for the sale plus no one can let you go other than your customers.  In addition when you own your own business you can always advance your career, make more money and have more time and this cannot always be controlled while working for someone else.

Entrepreneurship isn’t easy and is not for everyone.  It may however come with the same amount of risk as working for someone else just different kind of risk.
Purchase a Pharmacy? Don’t forget about the small...

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Friday, 22 September 2017

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