The ability to impact patient health may be a particularly rewarding aspect of pharmacy ownership, but Gerry O'Hare, owner of Jeffrey's Drug Store in Canonsburg, Penn., cautions that launching a brand new pharmacy can be challenging. And O'Hare should know. He was a pharmacist at Jeffrey's Drug store for five years before buying the pharmacy in 2003.
"Know that opening a new community pharmacy from scratch can be very difficult. Look at the market, or work with a partner like Cardinal Health who can help you find a store with a pharmacist looking to retire," says O'Hare. While finding the right pharmacy to buy may take time and effort, O'Hare says the work is worth it.
"Most pharmacy owners are the kind of people who are active in their local schools, churches and civic associations. We get the most gratification from having the chance to serve our family, friends and neighbors, and by having the freedom and flexibility to adapt our businesses to meet the unique needs of our customers. Pharmacy is a great business as long as you are not greedy and willing to work hard - you can make a great living and help a lot of people."