How to Start a Pharmacy
by Startacus Admin
As you know Startacus is all about helping innovative and enterprising folks (like yourself) to take a step, or indeed a leap, into doing something with their great idea- big or small!
Over the past while, we have been piecing together some of the important info you will need in order to start all manner of businesses. So far we’ve tackled everything from sweet shops to cleaning businesses and today's offering is one that is so obvious we cannot believe it has taken us this long… the humble UK pharmacy.
What is a pharmacy?
Ok… so we are pretty sure that you know what a pharmacy is - but before we begin, a little bit of disambiguation (our new word of the day) is probably in order. In this piece we are talking about pharmacies (you know the ones that dispense medications) rather than health and beauty shops which, despite being wonderful, do not.
Some reasons to start a UK based pharmacy
Like any business, running your own pharmacy will bring with it huge challenges, but it also has the potential to bring you great rewards in terms of money, life style, freedom and so forth.
Arguably the greatest benefit of running a business like a pharmacy is that you get to do something that you like and earn more doing it. Chances are if you are reading this, is that you are someone who has an interest in the health/beauty pharmaceutical industry and perhaps also an interest in retail and customer service. If this is the case, opening your own pharmacy can be a great way to bring together these interests. Couple all this with other perks like choosing your own work times, scheduling your own holidays, getting the opportunity to be creative, the sense of pride and accomplishment as well as a lifetime supply of shampoo then you could really be on to a winner.
Some things you need to do
All joking aside, running a pharmacy is a serious business… there are loads of regulations, rules, laws and legislation to be followed… after all we are talking about the dispensing of tightly regulated prescription-only medication. Here are some of the things that you really should take into consideration;
Research research research and then research some more - The very fact that you are reading this means that you are off to a good start on this count. The internet is a great place to find some of the essential information on rules and regulations- in particular you might want to have a look at the General Pharmaceutical Council . But of course the internet is not the only place that you should be going for advice. You should definitely get in contact with current/previous pharmacy owners to gain their perspective and perhaps some tips to avoid pitfalls.
- Do you want to be part of a franchise or a fully independent business? The merits of being part of a franchise chain are perhaps never better illustrated than when it comes to running a pharmacy. With such tight regulations and a multitude of laws and red tape to battle through, having a structured support network in place can make all the difference. However for the more daring and adventurous among you, an independent venture might be the better option as it offers a higher level of freedom and flexibility. The most important thing is to ensure that you have all of the information at hand before making this important decision - You might find our recent piece on the pros and cons of buying into a franchise useful.
Continued on page 2...
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
WarDucks raises €3.3m led by EQT Ventures to launch location-based augmented reality mobile game and to expand the company’s development team.
Leading UK water and wastewater company United Utilities has launched its second accelerator programme to help innovative businesses grow and develop their solutions through a collaborative approach.
Entries are now open for upSTART, Northern Ireland’s most exciting startup pitch competition which features an all-expenses paid trip to explore the New York tech scene for the winner.
What are the main types of financing and investing options that are available to an early-stage Northern Ireland startup?
Here are some tips, courtesy of accountancy experts Howlader&Co, on how to generate substantial profits by maximising productivity in your startup.
The Manchester based startup that is on a mission to transform the energy system...
.png)
Developing Experts empower teachers and parents to teach science with confidence and ease, with an ever-growing library of interactive, online science lessons.
Startups focused on Connected Digital Mobility, including connected vehicles, autonomous travel, smart cities, future transport services, take note!
The online marketplace where you can buy goods directly from independent retailers all in one place.
Published on: 29th January 2014
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.
- United Utilities launches Innovation Lab 2.0 21st Mar 2019 Leading UK water and wastewater company United Utilities has launched its second accelerator programme to help innovative businesses grow and develop their solutions through a collaborative approach.
- Northern Ireland startups sought for upSTART 2019 21st Mar 2019 Entries are now open for upSTART, Northern Ireland’s most exciting startup pitch competition which features an all-expenses paid trip to explore the New York tech scene for the winner.
- IlluminationLAB to power energy focused startup innovation 5th Mar 2019 American Electric Power (AEP) has launched IlluminationLAB which will include a bootcamp, energy summit & 10-week proof of concept program to co-create innovative energy products and services.
- Startup World cup returns to Belfast for 2019 27th Feb 2019 The Startup World cup returns to Belfast for 2019 with the NI regionals held on 25 March and once again delivered by Belfast Global Shapers.
