My time as a pharmacy owner: Prince of Wales Pharmacy

In 2021, Urvesh Patel purchased Prince of Wales Pharmacy – a standard hours community pharmacy in Warstock, Birmingham, which was previously under corporate ownership. 

A few years on, Jonathan Board, Director – Pharmacy at Christie & Co, spoke with Urvesh about how he’s getting on…

Can you tell us a bit about what you were doing before you bought this pharmacy?

Before I purchased Price of Wales Pharmacy, I was working for Boots Pharmacy as a local store manager and doing odd locum shifts.

What made you want to own a pharmacy?

From the get-go, I have wanted to have my own pharmacy. Growing up in a family of business owners has created this mindset for me.

How have you found your first year of ownership?

I’ve found it to be quite challenging and a lot of hard work, however, it has also been very rewarding to see the business grow and succeed due to the changes we have implemented.

What are the key changes you have implemented so far?

Item growth through fast and efficient service delivery and the addition of a variety of new NHS services to the pharmacy.

What has been your biggest challenge so far?

The biggest challenge has been battling against rising costs and NHS cuts. Any growth within the business currently is being absorbed by rising costs and reduced remuneration from the NHS.

What are you most looking forward to in the coming years, and do you have any other plans for the business?

We look forward to new services coming to the pharmacy sector but are also hopeful of appropriate funding to accompany them. My plans for the business are to continue to grow and develop in accordance with the NHS future plan, improve service delivery, and work closely with other healthcare professionals.

Do you have any tips for those looking to enter the sector and buy their first pharmacy?  Is there anything you would have done differently?

My tips would be to be ready to change and adapt to the ever-changing market, choose your pharmacy wisely, and ensure you carry out thorough research.

If you’re considering buying your first pharmacy and would like to discuss your options, contact Jonathan Board: jonathan.board@christie.com / 07775 807071