Pharmacy is an exciting field with lots of potentials. If you’re interested in starting up your own pharmacy, check out our list of the top 10 small pharmacy franchise opportunities available today.
Pharmacists are drug dispensers, but they are not limited to just that. There are several other career options available for them.
Pharmacy technicians are not just responsible for dispensing medications; they’re also responsible for providing advice on medication use and developing new drugs.
15 Pharmacy Business Ideas for Pharmacists
Here are some new and innovative pharmacy business opportunities for pharmacists to consider starting up their own pharmacies.
1. 24 Hours Medicine Shop
You can start up a 24-hour pharmacy by opening one as a franchise partner of an established drugstore chain.
Most 24-hour drugstores sell drugs all day long, so they make more sales than the ones that close at certain times.
2. Aerobics Center
Aerobic exercises are a specific type of physical exercise that combines different types of fitness activities including stretching, strengthening, etc.
Aerobic exercises help prevent illness and promote physical health. They also help people lose weight and burn excess calories. Therefore, the demand for aerobic exercise centers is always there both in developing and developed nations.
3. Alternative Medicine Selling
Many people use alternative medicine, but they’re controversial. However, their usage is growing every day.
Therefore, alternative medicines selling is a great way for pharmacists to enter the retail pharmacy industry.
4. First Aid Box Retailing
First aid boxes aren’t just useful for kids — they’re also useful for adults and even for businesses.
You could also take up this offer if you’re looking for an easy way into the world of eCommerce. Aside from retail distribution, you could also set up your own online store.
5. Medical Store
You can open a medical store business by offering additional value-added services like having a doctor’s room, providing some testing facilities like measuring your body temperature, supplying an air pump, etc.
If you’re starting a new business, you can either purchase a franchised location from an existing company or open up your own store. For example, if you were opening a medical supply store, the margins would be quite high because you could sell at a markup.
6. Medicine Distribution
Pharmacies are currently one of the best professions for pharmacologists. They know medicines better than anyone else.
Medicine distributors require initial capital investment. It is suited to people who have had some experience in running a similar type of enterprise.
7. Mobile Pharmacy
This is yet another great business for pharmacologists. Depending on the demographic and market opportunities in your area, you could consider starting a mobile pharmacy that offers medications for all.
Businesses need to plan strategically, get proper licensing, and invest moderately in their startups. Some of the major investments include arranging vehicles, procuring medications, hiring manpower, utility bills, etc.
8. Online Pharmacy
Online pharmacies are one of the fastest-growing retail business models today. They’re particularly popular because they offer convenience for consumers.
If you look up “online pharmacies” on Google, you will find lots of websites offering delivery services at the consumer’s doorstep. And there is plenty of room for growth.
If you want to start an online store but don’t have any experience in eCommerce, read this guide for
9. Rehabilitation Center
Starting a rehab center is one of the most rewarding business ideas for pharmacologists. These centers actually allow people to get off addictive substances such as prescription medications, illegal narcotics, and even recreational substances such as cocaine, heroin, or amphetamines. Therefore, it is an idea to give back to society as well.
10. Vitamin Retailing
This is yet another very lucrative business for pharmacists who want to start their own retail business. Today, there are lots of effective ways of selling drugs both online and offline.
11. Wholesale Distribution of Medicines
If you want to be successful at selling products online, then you need to choose one of these two options. Either you can start a wholesale business or you can open an online store.
12. Manufacture Medicines
If you have enough money to invest or if investors are willing to back you, the pharmaceutical industry can be an extremely lucrative business.
13. Manufacture Surgical Bandages
Surgical bandages remain an important part of medical care all throughout the entire calendar. Start a small-scale surgical bandage production facility with a small initial outlay.
14. Open a Pharmacy Coaching Center
If you have experience working in a pharmaceutical company, consider becoming a pharmacist coach.
15. Start a Healthcare Blog
As a pharmacist who has worked in medical-based fields, you may want to create a blog where you write about healthcare issues.
Read: How to start a blog and make money
Globally, the Pharmaceutical sector is responsible for the research, manufacturing, and sale of drugs. Thus, it has a huge influence on the overall healthcare market. According to the revenue figures, the United States takes the lead in the global pharma sector. Currently, China is among the fastest-growing economies in the world. We hope this listing of Pharmacy Business Ideas and Opportunities will assist you in starting your own business.
You may like to read: Art Class Names to Inspire Creativity in You