Succeed in Pharmacy Ownership

Navigating first-time pharmacy ownership can be difficult, and the process of purchasing a second or third store can be just as challenging. 

Bob Graul, business development with FFB and Drew Hegi, loan officer with FFB, joined Drug Topics® in a recent Over the Counter episode to discuss what it takes to succeed in pharmacy ownership.

Graul and Hegi offered their insights on pathways to first-time pharmacy ownership and expanding to multi-store ownership, including these central elements:

• Finding the right resources
• Preparing your finances
• Choosing a location
• Developing a set of industry partners
• Factors for attractive and unattractive prospects
• Distinctions between SBA loans and other types of loans

Independent pharmacies are being increasingly depended on for providing accessible patient care. Taking the next step to buy a pharmacy, begin a start-up, or expand to multiple stores may take expert guidance to help future owners fully realize their business goals.

Listen to the full podcast episode to hear the rundown of succeeding in pharmacy ownership from the experts at First Financial Bank – Pharmacy Lending division.