5 things successful pharmacy owners do

Updated on September 10, 2022

Whether you’re thinking of setting up a pharmacy or you already run your own business and are striving for greater success, there are certain principles that can help you achieve your goals. 

The number of pharmacists in the UK has increased significantly since 2019, so you need to be at the top of your game. Below, read five things you can do to keep your pharmacy business in good health.   

Set realistic goals

As in other areas of life, setting goals is important for guiding your business and measuring success. But that doesn’t mean creating vague targets that you never review – or aiming for the stars from day one.

Instead, your goals should be SMART, meaning:

  • Specific to an outcome with a clear idea of how to get there
  • Measurable – be it sales, patient satisfaction or staff hires
  • Achievable i.e. within the realms of possibility
  • Relevant to your pharmacy business 
  • Time-bound by a specific deadline

Realize personal limitations

It’s tempting for business owners to try and do everything themselves, especially when just starting out. But relying too much on yourself is only likely to restrict your growth and lead to burnout, which isn’t something any health professional would recommend. 

Instead, identify the gaps where you lack skill or capacity and fill them with new hires. That might mean adding a customer service assistant or finance manager to your team, for example.  

Provide incentives and motivation

Some 85% of UK business owners have been affected by what’s been dubbed ‘The Great Resignation’, with changing employee expectations a key driver for changing jobs. This means you need to be offering plenty of reasons for your staff to stay. 

Incentives and values will vary by person but could include receiving training in a particular area such as medicine or logistics, as well as setting clear progression paths. 

Take care of paperwork

Completing admin might not be the reason you started a business. But you could find your business in ill health without it, so make sure you have everything in order and up-to-date at all times.

This includes registering your business, taking care of tax and accounting and taking out thorough pharmacy insurance to protect your livelihood

Keep patient care front of mind

While altogether different to working in a clothes shop, restaurant or hotel, good customer service is vital for any successful pharmacy. This is particularly true considering that many of your customers may be feeling under the weather or vulnerable when entering your premises.

Be patient with your customers, and ensure your team do the same. You might need to go above and beyond occasionally to help customers find the right products and understand how to use them.   

Pharmacies play a crucial role in society. Could you improve things in any of these areas to ensure you can keep providing your service? 

The Editorial Team at Healthcare Business Today is made up of skilled healthcare writers and experts, led by our managing editor, Daniel Casciato, who has over 25 years of experience in healthcare writing. Since 1998, we have produced compelling and informative content for numerous publications, establishing ourselves as a trusted resource for health and wellness information. We offer readers access to fresh health, medicine, science, and technology developments and the latest in patient news, emphasizing how these developments affect our lives.