Sunday, November 22, 2009

Opening a new pharmacy

So, all this work makes me wonder if it's time.

Is it time to consider opening my own pharmacy?

What's the deal with new pharmacies nowadays anyways? How does one compete for business with the likes of Shoppers Drug Mart and Rexall (and the slowly being phased out, Pharma Plus)? Is it stupid to think I can compete for the pharmacy business? And without a medical clinic in my back pocket, is it stupid to think I will survive?

Now what types of things am I thinking about? Well, location, location, location. Where the heck would I open? The area I live is pretty saturated with chains, independents, banners, and other types of pharmacies. So how far do I want to open a business from my home? What's reasonable?

And what would my pharmacy look like and what would I sell? What are people looking for in an independent store? What do you think? How much money and inventory do I need? And how much time and planning should I allow for?

What about past relationships? Do I worry that people I used to work for/with will get upset if I open within a certain distance of them? I'm not one to burn bridges, but seriously, space is finite.

And how does a pharmacist market themselves once open? I mean, you can't leave the store during business hours, so how do you go visit doctors when they're more likely to be able to meet with you? Or do I dig my financial hole deeper and hire someone to cover me when I call on docs? Its a catch-22.

So, anyone out there have any tips or advice for me? Any good resources?

Anyone done it already and want to get in on this action? Or know anyone who wants to do it?

Is this the start of a new thought process? Or is this just a timely blog that will fall by the waist side in an hour?

I predict this is the start of something massive.

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