Medicine
Fact-checked

At WiseGEEK, we're committed to delivering accurate, trustworthy information. Our expert-authored content is rigorously fact-checked and sourced from credible authorities. Discover how we uphold the highest standards in providing you with reliable knowledge.

Learn more...

What Is an Independent Pharmacy?

Helen Akers
Helen Akers

An independent pharmacy is owned and operated by a sole proprietor or group of small-business owners. This type of pharmacy is usually not associated with a retail chain or brand, unless it is a franchise location. The owners and operators are in business for themselves and must design their own marketing and customer service strategies. Some independent pharmacies may belong to a national or local organization that helps them secure discounted prices on supplies and take advantage of a streamlined distribution network.

The primary difference between an independent pharmacy and a pharmacy location that is part of a retail chain is that an individual or small group of individuals manage the business. Rather than receive direction from a corporate office or a guaranteed salary, an independent pharmacist takes on the financial and managerial responsibilities of owning the business. It is similar to owning an independent grocery store, insurance agency, or dog grooming service. In order to make a profit and sustain operations, the pharmacist usually needs to design a business plan that will control expenses and generate adequate revenue.

The staff of an independent pharmacy is typically hired and managed by the owner.
The staff of an independent pharmacy is typically hired and managed by the owner.

The staff of an independent pharmacy is typically hired and managed by the owner. Often, the owner will work longer hours than staff, especially in the early stages of the pharmacy's existence. Owners must decide how many staff the business can afford, as well as their scheduling, pay rate, and employee benefit package. Some operators purchase an existing business from another owner, start their own location, or purchase a franchise location with an established brand name.

An independent pharmacy is owned and operated by a sole proprietor or group of small-business owners.
An independent pharmacy is owned and operated by a sole proprietor or group of small-business owners.

Expenses and supply ordering are also usually managed by the owner of an independent pharmacy. For example, all of the necessary equipment, including cash registers and delivery vehicles, is purchased and maintained by the business owner. Some countries have national associations that independent pharmacies can join in order to help them negotiate with insurance companies and prescription drug suppliers. These associations typically maintain a large distribution network that delivers ordered product to independent locations, which can emulate a larger company's internal distribution.

The owner of an independent pharmacy is in charge of developing promotional and customer service strategies.
The owner of an independent pharmacy is in charge of developing promotional and customer service strategies.

The owner of an independent pharmacy is also in charge of developing promotional and customer service strategies. In terms of service, the owner typically decides how the location will distinguish itself from its retail chain competitors. A higher degree of personalization is a common customer service strategy, as promotional budgets may be tight for a small-business owner. One of the main benefits for the owner is the ability to execute his own ideas and eventually determine his own work schedule.

Discuss this Article

Post your comments
Login:
Forgot password?
Register:
    • The staff of an independent pharmacy is typically hired and managed by the owner.
      By: Deklofenak
      The staff of an independent pharmacy is typically hired and managed by the owner.
    • An independent pharmacy is owned and operated by a sole proprietor or group of small-business owners.
      By: .shock
      An independent pharmacy is owned and operated by a sole proprietor or group of small-business owners.
    • The owner of an independent pharmacy is in charge of developing promotional and customer service strategies.
      By: HconQ
      The owner of an independent pharmacy is in charge of developing promotional and customer service strategies.
    • Independent pharmacies may specialize in generic and discounted brand medications.
      By: Tyler Olson
      Independent pharmacies may specialize in generic and discounted brand medications.
    • Independent pharmacies may not have certain kinds of medication in stock and so must order them for patients.
      By: maron
      Independent pharmacies may not have certain kinds of medication in stock and so must order them for patients.