Quick Answer: How Much Does It Cost To Open An Independent Pharmacy?

How much does it cost to open a pharmacy?

To start a pharmacy, you’ll need between $880,000 and $1,800,000 a year in your own cash or borrowed cash.

This might seem like a lot, but it’s normal for a pharmacy, because you need to consider such costs as inventory, rent and staffing costs.

How much do independent pharmacy owners make?

In 2016, the average revenue for independent pharmacies was $3,619,000. That makes the average independent pharmacy profit $796,180. But these numbers are averages. Your profit as a pharmacy owner may range far below or beyond it, depending on how you run your business.29 Aug 2018

Is owning a pharmacy profitable?

Shhhh! Owning a Pharmacy is Very Profitable. You may not believe it, but independent pharmacy owners are doing financially quite well, averaging almost $300K in personal income in 2008. Gross Profit equals the spread between a pharmacy’s revenues and the cost of goods (COGS) sold to generate those revenues.15 Dec 2009

Can you open your own pharmacy?

If you’re eager to open your own independent community pharmacy, starting one from scratch can be faster and less expensive than buying an existing pharmacy. Go into it with your eyes wide open; independent pharmacy is not a “just build it and they will come” opportunity.27 May 2014