My time as a pharmacy owner: Saini Pharmacy
In this Q&A blog post, Director – Pharmacy, Jonathan Board, caught up with Nishant Kumar, following his purchase of Saini Pharmacy in Birmingham.
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Back in 2020, Nishant Kumar purchased Saini Pharmacy in Birmingham – a standard hours community pharmacy on East Meadway which was previously under corporate ownership.
A few years on, Jonathan Board, Director – Pharmacy at Christie & Co, spoke with Nishant about how he’s getting on…
Can you tell us a bit about what you were doing before buying your business?
I was working as a Senior Manager at a multiple supermarket pharmacy before I bought my first pharmacy in 2020.
What made you want to own a pharmacy?
It was during Covid that the idea of buying the pharmacy came to my mind, as my Pharmacist salary had been almost stagnant for the past few years and there was no growth in my current role nor was there any progression plan.
I was also already running the business and making important decisions for my employer, but I wasn’t getting rewarded for it.
How have you found your first year of ownership?
Buying my first pharmacy was full of challenges, starting from arranging finance and arranging staffing. As daunting as it sounded then, I can look back now and say it was the right decision as I was able to deliver growth month after month and to expand, too.
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?
In my opinion, consistency and quality of service are very important for any pharmacy to shine.
Your team plays a major role in making it a success or failure. If a team is on board with your vision, then you can achieve your goal with ease. I was able to instil autonomy and confidence in the team and change the culture from “no, we can’t” to “yes, we can”.
If anyone asks me today whether buying a pharmacy is worth a shot, I would say “yes, definitely”.
Although the funding is tight and the going is tough, if the model is right (service-based, primarily) then it is still a lucrative business.
If you’re considering buying your first pharmacy and would like to discuss your options, contact Jonathan Board: jonathan.board@christie.com | 07775 807071