STudentT1234212
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How much does the average pharmacy owner make? Theres not much info on uk owners online
Do you guys know any pharmacy owners that are making good money?
Ive heard pharmacy owners are millionaires
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londonmyst
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I have worked with clients who owned pharmacies based in England, Wales or the USA.
The average pharmacy owner in England whose business operated between 9am to 6pm five days a week had annual turnover above £940k.
Much higher for pharmacies open 24/7 every day of the year.

The average pharmacy owner's total annual salary amongst clients seemed to be in the £130k-150k range.
It can be difficult to obtain accurate details of total pay and profits because pharmacy owners are very keen to minimise tax liabilities and may understate sales values/profits.
Last edited by londonmyst; 4 weeks ago
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STudentT1234212
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(Original post by londonmyst)
I have worked with clients who owned pharmacies based in England, Wales or the USA.
The average pharmacy owner in England whose business operated between 9am to 6pm five days a week had annual turnover above £940k.
Much higher for pharmacies open 24/7 every day of the year.

The average pharmacy owner's total annual salary amongst clients seemed to be in the £130k-150k range.
It can be difficult to obtain accurate details of total pay and profits because pharmacy owners are very keen to minimise tax liabilities and may understate sales values/profits.
And do you think it is possible for a UK Mpharm graduate to start making this amount within a few years of starting up? (with also having around 50k savings)
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londonmyst
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(Original post by STudentT1234212)
And do you think it is possible for a UK Mpharm graduate to start making this amount within a few years of starting up? (with also having around 50k savings)
Difficult to predict considering the tax situation and economic aftermath of brexit & covid for the UK over the next 3-4 years.
It also depends on local region, family & networking contacts, personal work ethic and what other services the pharmacy provides.
Over the counter product range, links with beauticians and local gyms can greatly increase potential sales & turnover.
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STudentT1234212
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(Original post by londonmyst)
Difficult to predict considering the tax situation and economic aftermath of brexit & covid for the UK over the next 3-4 years.
It also depends on local region, family & networking contacts, personal work ethic and what other services the pharmacy provides.
Over the counter product range, links with beauticians and local gyms can greatly increase potential sales & turnover.
thanks for the info!
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0895
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(Original post by londonmyst)
I have worked with clients who owned pharmacies based in England, Wales or the USA.
The average pharmacy owner in England whose business operated between 9am to 6pm five days a week had annual turnover above £940k.
Much higher for pharmacies open 24/7 every day of the year.

The average pharmacy owner's total annual salary amongst clients seemed to be in the £130k-150k range.
It can be difficult to obtain accurate details of total pay and profits because pharmacy owners are very keen to minimise tax liabilities and may understate sales values/profits.
Can you give a source for your figures please? And your background? Accountant?
I work for a largish small chain, and they made a £1M loss in 2019/20 year.
I think both of your figures may be what we call 'pre-cuts'.
Before the government cut the money paid to Pharmacy/pharmacies in 2016/17.
Turnover is related to number of items and counter sales, you can't really base it on opening hours, unless you are going to look at pharmacist wages, where obviously it would be much more to pay one in a 100 hour pharmacy.
And 24/7 is more American, I can only think there is maybe one or two of those in the UK.
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0895
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(Original post by STudentT1234212)
And do you think it is possible for a UK Mpharm graduate to start making this amount within a few years of starting up? (with also having around 50k savings)
Hey man!
I really really, don't think you should do Pharmacy if you are mainly interested in money.
Pharmacy is simply not lucrative anymore, like it was in the 80s and 90s. Sorry to pi$$ on your parade.
Your savings are to be admired, but you will need much more as a down payment and buying a pharmacy can be an expensive business with paying accountants and solicitors.
With the Pharmacy future so uncertain, especially with Amazon trademarking their logo in the UK, and with the government keen to reduce the community pharmacy network,y ou would be a brave soul to buy a pharmacy in the next few years. Boots and Lloyds have together, closed 400 pharmacies. My other posts go into the future of community pharmacy if you wish to read them!
There is also a poster called Sarah_H, who with a little more experience than me, at 30 yrs, compared to my 25 years(!), also writes her opinions of community pharmacy and its future.
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marinade
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(Original post by STudentT1234212)
How much does the average pharmacy owner make? Theres not much info on uk owners online
Do you guys know any pharmacy owners that are making good money?
Ive heard pharmacy owners are millionaires
Just do medicine.

It's not known what the average pharmacy owner makes in the UK.

Every single owner I know sold up between the late 1990s and early 2010s. They were insanely successful businessmen. Comparisons have been done of how less profitable it is over the last 10-20 years and figures of 4x less profitable and 7x less profitable were numbers that came out a few times. These were done over a considerable period of time. Nearly all of them say they wouldn't do pharmacy in 2020. Many say they'd buy in a stake of a health centre instead.

I worked for one of the big three and profits on the community side weren't large (£12,000 a year in one store). Quite a few stores made losses. Quite a few stores were closed.

Pharmacies are funny things as they vary so much and they are very dependent on geography and the local arrangements/friendliness of the surgeries. There's generally not as much money in OTC as what people think. On beauty products, travel injections and a few other things with excellent choice and staff you can make more money, but this is dependent on the clientele. Healthy living type advice/vitamins/supplements with the right clientele you can make insane markups. The amount per item isn't enough in pharmacy to guarantee profits. Far from it. Pharmacy is on the whole a high volume, low margin business that needs to own the right pharmacy, have good staff and know what you are doing to make a lot of money.
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STudentT1234212
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(Original post by 0895)
Hey man!
I really really, don't think you should do Pharmacy if you are mainly interested in money.
Pharmacy is simply not lucrative anymore, like it was in the 80s and 90s. Sorry to pi$$ on your parade.
Your savings are to be admired, but you will need much more as a down payment and buying a pharmacy can be an expensive business with paying accountants and solicitors.
With the Pharmacy future so uncertain, especially with Amazon trademarking their logo in the UK, and with the government keen to reduce the community pharmacy network,y ou would be a brave soul to buy a pharmacy in the next few years. Boots and Lloyds have together, closed 400 pharmacies. My other posts go into the future of community pharmacy if you wish to read them!
There is also a poster called Sarah_H, who with a little more experience than me, at 30 yrs, compared to my 25 years(!), also writes her opinions of community pharmacy and its future.
Hi!. Youre just the person im looking for to ask about this career please respond to my message. Im currently in year 13 and am on the edge of deciding what to do. Its very stressful.
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ecolier
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(Original post by marinade)
Just do medicine....
As a medic, please OP STudentT1234212 don't do medicine for the money.
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STudentT1234212
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(Original post by ecolier)
As a medic, please OP STudentT1234212 don't do medicine for the money.
Its not just money. Only thing i enjoy in school is science. Ive done work experience in many places and i enjoyed the hospital the most. I know for a fact i would be happy being a doctor and helping patients when im old aged. BUT i do want to be rich maybe a bit rich before 30 too
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ecolier
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(Original post by STudentT1234212)
Its not just money. Only thing i enjoy in school is science. Ive done work experience in many places and i enjoyed the hospital the most. I know for a fact i would be happy being a doctor and helping patients when im old aged. BUT i do want to be rich maybe a bit rich before 30 too
You would be anywhere near rich by 30 in medicine unless you locum like a dog.

Anyway this is a pharmacy thread so this is off topic.
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STudentT1234212
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(Original post by ecolier)
You would be anywhere near rich by 30 in medicine unless you locum like a dog.

Anyway this is a pharmacy thread so this is off topic.
What are your thoughts on optometry do you think its a lucrative career? And is having an opticians very profitable ?
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ecolier
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(Original post by STudentT1234212)
What are your thoughts on optometry do you think its a lucrative career? And is having an opticians very profitable ?
Sorry I don't have a clue.

I may be an expert in medicine and its post-grad opportunities but really don't know anything about other healthcare professions (maybe except physician associates).
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marinade
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(Original post by ecolier)
As a medic, please OP STudentT1234212 don't do medicine for the money.
Or pharmacy
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ecolier
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(Original post by marinade)
Or pharmacy
Agreed!
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STudentT1234212
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(Original post by marinade)
Or pharmacy
What then? I cant imagine doing finance. I really want a to study something healthcare/science related at uni. nearly EVERYONE says their job is not good for money. Then what should i do?
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hjhsdkvbt
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(Original post by STudentT1234212)
What then? I cant imagine doing finance. I really want a to study something healthcare/science related at uni. nearly EVERYONE says their job is not good for money. Then what should i do?
https://www.bbc.co.uk/news/education-41693230
what about dentistry?
going to uni solely for money isn't me, but it seems dentists make a fair amount and is a good course if you're interested in it.
My a level chemistry teacher said that dentists make $ more easily than medics anyways lol
Also what about studying computer science at uni's they make money too
but yh I dont think people go to uni just for money, or expect to make loads of money from degrees anyways
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marinade
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(Original post by STudentT1234212)
What then? I cant imagine doing finance. I really want a to study something healthcare/science related at uni. nearly EVERYONE says their job is not good for money. Then what should i do?
I actually think that pharmacy for the years invested (4 + 1) vs pay was in the past a pretty good number. That would disagree with the majority on this section of the forum. The future though, yeah it really doesn't look so good and I would be more pessimistic on that front than some of the others here.

If you stray away from financials there are a vast array of reasons why someone may not find pharmacy that good and they relate to working environment and working conditions in community pharmacy which are um not glamourous.

I get the 'healthcare' thing with pharmacy, just that large swathes of community pharmacy are not really 'healthcare' and this is one key reason why a lot don't like it.
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FlamingoDuke
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(Original post by ecolier)
Agreed!
How old are you whats your salary? Youre a medic must be pretty high dunno why you said you wouldnt be rich by 30
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