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If you're thinking of heading a startup, owning a local pharmacy could be an incredibly lucrative opportunity. When you set up a business in the healthcare sector, it's important to ensure that you operate with transparency to keep yourself and your patients safe. Whether you've acquired pharmacies before or you're turning to a new venture with different partners, learning the relevant steps before getting involved is imperative. Successful pharmacies rely on medical expertise, professional knowledge, and an excellent quality of service. Step 1: Do you need qualifications to be a pharmacist? No matter if you already have a background in pharmacy or you're entering the field from an entrepreneurial perspective, you'll need to have the right qualifications. You can become a pharmacist by completing a Master of Pharmacy degree at a university. Your chosen course needs to be approved by the General Pharmaceutical Council and will take at least four years to complete. After your degree, you'll also need to take the one-year pharmacist foundation training scheme. To access these courses, you'll usually need two or three A levels, including Chemistry. Alternatively, you could do a pharmacy foundation degree if you only have one A level or equivalent.

The Company Chemists' Association (CCA)'s research has found that between 2015 and 2022 more than 40 per cent of permanent community pharmacy closures took place in the 20 per cent most deprived parts of England. The association has analysed the NHS data and found that between 2015 and 2022, 808 pharmacies closed permanently in England. In that period, only 138 new pharmacies opened - a net loss of 670 community pharmacies. It also examined where permanent closures had taken place. "41% of net permanent closures had taken place in the top 20% most deprived areas in England. Meanwhile, only 9% of net permanent closures took place in the top 20% least deprived areas." Although the latest figures for 2021/22 suggest that the overall rate of closures may be slowing down, the proportion of pharmacies permanently shutting in more deprived areas has only increased. An even larger share of pharmacies that permanently shut in 2021/22 occurred in the most deprived areas compared with the previous fiscal year: 44% of net closures took place within the bottom two IMD deciles.