Pharmacy Market BUZZ

Market News, Products, Services, and Trends

Owning your pharmacy: What's the timeline for opening?

This is part 5 of a 6-part series focused on how to get started opening a new pharmacy.

To successfully launch a pharmacy, you certainly need a business plan, research about locations, customers and financial documents, but more importantly, you'll need a calendar and a timeline.

Without careful planning, you could arrive at your planned opening without all of the permits and licenses, inventory, trained staff and marketing needed to attract, serve and impress customers.

Key Timeline Considerations

Create a timeline that considers the time and money needed for:

• Structure. Whether you are building from the ground up, remodeling, updating equipment, installing alarms or any combination of those, you need time to research requirements and complete the work and paperwork, from permitting to insurance.

Well before the first nail is driven, you need to plan not only how you want the pharmacy to look, but how to meet any state and local requirements as well for features such as counter length, controlled medication storage, even restrooms.

Each situation is unique. For example, if your pharmacy will be in a historic district, you may need review time for an additional committee. If you want the work done during a building boom, the contractor may not be able to fit your project in immediately.

Download the full newsletter!

Today's Posts