Procedure for Opening a Drug Store

Instructions:

1. • 1
     Decide on a local ownership or a franchise. Open a pharmacy franchise inside a department store or grocery store. Certain drug stores often associate with chain stores such as Wal-Mart.
   • 2
     Choose a franchise or free-standing location based on good business practices for customer flow, parking and location.
   • 3
     Complete in-state pharmacy applications. You must meet certain requirements to open a drug store, and these differ from state to state.
   • 4
     Design the location based on pharmacy best practices. As a pharmacist, you know the importance of a patient consultation center and proper work space and storage. As a non-pharmacist businessperson, make sure you understand exactly what pharmacies require.
   • 5
     Hire qualified staff. Make sure pharmacists and assistants meet state certification requirements. Some states require a pharmacist-in-charge.
   • 6
     Execute an effective marketing plan. Drug store associations and marketing experts in the field can offer advice specific to this area of specialty.
   • 7
     Ensure the presence of effective security. Drug store operations handle controlled substances, and you need to make sure you protect the premises and employees.

     
     

     
     
     

     Things You'll Need

     
     

     
     

     • State license
     • Franchise (if applicable)

     
     
     

     Tips & Warnings

     
     

     • Franchise operations often come with marketing plans and support already built into the agreement.
     • Make sure you and your staff have updated medical insurance, Medicaid plans and information on how they affect the dispensing of prescriptions.
     • Independently-owned drug stores are not as common as they once were, but they can still succeed. Join an association that supports this kind of pharmacy operation.
     • Remember that good business practices such as planning, cash flow, inventory management and taxes are just as important to a pharmacy as to any small business.