“My true passion is caring for my patients, and I knew that I wouldn’t be able to provide them with the care they deserved unless I opened my own pharmacy.”
Natalie conveys a common sentiment among retail pharmacists today and as one of our newest franchise owners, she has set her sights on making a difference in her community. Every day, we work with pharmacy owners to be the healthcare destination their communities need. Healthcare is getting more complicated all the time. Patients have a lot of choices and they need help to make the right ones for them. At the same time, pharmacy owners face a lot of pressures — including falling reimbursements and a challenging business climate. Just as the right pharmacist can make all the difference to patients, the right franchisor can make all the difference to you. Medicine Shoppe International, Inc., through The Medicine Shoppe® and Medicap Pharmacy® brands, has helped pharmacists take care of patients their way and remain independent with the support they need to be profitable in a competitive industry. And while the business of pharmacy is complex, our mutual goal is simple: to fuel your passion for patient care and help you succeed.
“I considered opening as an independent pharmacy, but the amount of expertise required was overwhelming,” Natalie said. “As a retail independent, there would be so many things to monetize, I was not prepared to do it myself. I made the decision to franchise in just three days.”
Whether you’re already a pharmacy owner or work for a major chain, the right franchise opportunity can be your next, best move. To get on the right track, look for a franchisor who is a good fit for the way you work — and will be at your side to help you succeed. At Medicine Shoppe International, Inc., we have the expertise to guide you through the decisions you need to make for clinical and financial success.
For Natalie, Medicap Pharmacy® was the perfect fit. “It was clear I would be able to do what I wanted for our community, because Medicap Pharmacy® gave me step-by-step instructions and support. They have the people, resources and guidance to help you be successful. In fact, that level of support far outweighs the nominal monthly fee you pay to own the franchise.”
1) New store offering: Practice pharmacy your own way with The Medicine Shoppe® or Medicap Pharmacy® franchise. Become a healthcare destination for patient care in your community by offering the personalized service you know patients need. Leverage a network of peers and professionals that has been opening new pharmacy franchises with a proven system for over 45 years.
2) Acquisition: The acquisition of an existing pharmacy operation can provide a sense of security for many owners and their families. Blending the strengths of an ongoing business with the passion, knowledge and goals of a new owner can prove beneficial for the whole community. Our team of professionals can help you find the right pharmacy buying opportunity, introduce qualified candidates to lending institutions for acquisitions, and when necessary, transform the business into a Medicine Shoppe® or Medicap Pharmacy® franchise.
3) Co-Branding: Unite your well-established local brand with a network of patient-focused pharmacy owners and the power of a national franchise brand. Our flexible offering provides the individualized support you need for your business to stay competitive and grow. Whatever path you choose, you’ll have an entire team of professionals at your side from the pre-opening experience to marketing, managed care and operational support.
Medicine Shoppe International, Inc. provides owners full business, brand and patient care support needed to open, operate and grow a pharmacy franchise including:
• Developing a business plan — with a focus on financial performance: controlling expenses, inventory management and accounts receivable (A/R) management
• Performing a market analysis
• Helping you obtain financing, including getting pre-qualified with pharmacy lenders
• Assessing revenue potential based on patient population, provider mix and area competition
• Working with a real estate firm to scout retail locations and identify the ideal one
• Implementing business operations including store layout, staffing, inventory management, workflow management and more
• Marketing your store, from pre-opening activities forward
More than dispensing pills, your pharmacy can be the destination for personal care in your community. With The Medicine Shoppe® and Medicap Pharmacy® franchises, you have the opportunity to improve outcomes and boost Star ratings with proven patient care services like point-of-care testing, immunizations, medication therapy management and medication synchronization and packaging solutions. Ask our experts how expanding care improves your pharmacy’s health, too.
• Best practice sharing from a recognized, high-performing franchise system
• Practice at the top of your license with patient care services like immunizations and point-of-care testing
• Business coaching from a dedicated Franchise Business Consultant, with expertise in pharmacy management, at no additional cost
• Digital marketing tools including an industry leading digital
marketing platform that drives refills and patient engagement
This post is related to:Buying/Selling of a Pharmacy & Franchising