What are the advantages and disadvantages of owning a pharmacy versus working for a large retail chain?!


Question: What are the advantages and disadvantages of owning a pharmacy versus working for a large retail chain.?
What are the advantages and disadvantages of owning a pharmacy versus working for a large retail chain.?

help i have to do an esay 2 paragraphsHealth Question & Answer


Answers:
The advantages of owning include:-

Possibility of earning greater rewards.
Satisfactions of self- employment (freedom of policy, no employer conflict, personalising the business, etc.).
Diversification of associated sales.
Employee selection.
Choice of premises.
Working conditions and hours to suit the circumstances.
Future growth and development is directly related to your own ability and not the decision of some far removed board of directors.


Disadvantages:-

Greater involvement/responsibility is necessary, thus more hassle and worry... more hours to put in.
Greater Liabilities, financial, legal, personnel.
Business acumen in all fields is essential; administration, management, procurement, personnel, sales/marketing, accountancy, etc.,etc.
Capital investment, monies tied up indefinitely.
Commitment, you have to dedicate yourself to both your employees and your customers... when you get fed-up/depressed you have to have the stamina to go on regardless. You cannot just resign and leave.

These are just a few of the considerations. Success in business, no matter how knowledgeable you may be, always needs some elements of luck but by careful planning, hard-work and perseverance you can minimise the 'chance element'.
Where you have the premises is an extremely important factor, it is much wiser to payer higher rents/rates/services than to have a beautiful (low overheads) shop in a 'dead' area. May I recommend that you set up in an area very close to busy doctors' surgeries,outpatient clinics or suchlike and in an obvious position eg close to bus stop, taxi rank, car parks, tube station
Perseverance is also a key factor in a business such as yours, it will take about three years before everything falls into place and your trading reaches a sustainable optimum level. Patience (and patients) is what you need.Health Question & Answer



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