Obtain a Doctorate of Pharmacy from an accredited university before starting your own pharmacy. This four-year professional program will give you the knowledge of chemistry, biology and the pharmaceutical industry to get started as an entrepreneur. Search for retail space in your community with storage, counter and display space for your pharmacy. Look at adjacent businesses to avoid starting your pharmacy in a neighborhood filled with chain and independent drug stores. Look for a short-term lease to keep your financial burden low while your pharmacy grows in this highly competitive field.
Apply for a Pharmacy Permit from your state's Division of Drug Control after signing a lease for your retail space. The state inspector will look at your pharmacy for proper sanitation, dispensing equipment and lighting to meet minimum standards for patient safety. Work through organizations like the National Association of Chain Drug Stores and the National Community Pharmacists Association to obtain proper pharmacy IDs. If you plan on opening multiple pharmacies from the start, you will need a National Provider Identifier to handle electronic prescriptions from area doctors. Every pharmacy should have a Medicare billing number to give prescriptions to older customers.
Research pharmacy wholesalers in your area to keep your inventory filled from day one. Ask for pricing information on prescription drugs, over-the-counter products and accessories from each wholesaler to determine which company works best for your startup budget. Hire a qualified pharmacy technician to parse out prescription drugs and instruct patients on proper use of each product. Find a pharmacy technician who is interested in learning the business of running a pharmacy to take some of the work off your desk. Make connections with state universities with pre-pharmacy and pharmacy programs to create.
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