26 Best Business Ideas for Pharmacists to Make Extra Money

This article contains some of the very best business ideas that Pharmacists can get involved in, to make some really good money on the side!

 

Why Business Ideas for Pharmacists?

The sport of football, like so many other sports, is a team effort.

The quarterback is critical and is often called the general on the gridiron but without the other 10 players around him, he is not able to single-handedly drive the ball down the field and score points.

This team concept is true in several areas of our lives.

Those areas include companies that we work for.

The concept of team is important as it relates to the safety of driving our vehicles, right down to our family units where we work together as a team.

For our treatment, the medical procedures that we undergo, and our continued health, it takes a team of medical professionals to make all of this happen.

The physician is important but without the other team members, their role is restricted as it relates to providing the needed medical treatment plan for the patient.

Other members of the medical team include nurses, various technicians, nurses aides, and, quite frankly, right down to the housekeeping staff.

Another important member of the team when it comes to caring for the patient is the pharmacist.

A pharmacist is a professional with extensive training who knows everything there needs to be known about the pharmaceuticals that are ordered and that the pharmacist dispenses.

The pharmacist knows about contraindications, how the medication should be taken, what the typical dosage is, side effects, and much more.

Given the training and knowledge of the pharmacist, other business opportunities can be afforded to a pharmacist and not restricted to just the pharmacy.

Let us push down and turn the cap of the prescription bottle to look at business ideas for pharmacists.

 

Personal Story

I received a call the other day and, as a rule, I don’t answer the phone because it is usually an individual who is trying to sell me something or try to get some information that I don’t want to give.

On a whim, I answered the phone and it was a pharmacist at the medical center through which I have my medical insurance through.

He indicated that it appeared that I wasn’t taking my medicine regularly and then went on to explain the importance of taking the medicine to prevent stroke, a future heart attack, etc.

At first, I was a bit annoyed but then realized that this individual was simply doing their job and trying to maintain my health so that I wouldn’t have to visit the hospital in an emergency type of situation.

I thanked him for his counsel and hung up the phone.

Upon further reflection, I admit that I appreciated the call and realize that the pharmacist’s role and being part of the entire team backing up the quarterback doctor to serve my medical needs.

 

26 Best Money Making Business Ideas for Pharmacists

 

1. Consulting

The reality in the medical field is that no one knows the actions and composition of drugs and medication more than you do as a pharmacist.

With this expert knowledge, your expertise is in great demand by others needing to know how medications affect the lives of others.

Therefore you can leverage the knowledge and enter into consulting services and impart this knowledge to medical and non-medical individuals and organizations alike.

 

2. 24 Hours Pharmacy

A business opportunity for a pharmacist would be to provide a pharmacy around-the-clock for the medication needs of the customers.

This business enterprise would be convenient for individuals needing medicine that accommodates the patient’s schedule and quite possibly be a money-maker for the pharmacist due to the hours of operation.

If the pharmacist is uncertain about the business side of the operation they can always explore a franchise opportunity.

Some of those franchises would include:

• Walmart
• CVS
• Walgreens
• Kroger

 

3. Blogging

An interesting blog to read would be written by a pharmacist.

As the writer of the blog, you could provide insights that could be directed to fellow pharmacists.

Topics could include:

• Avoiding burnout
• Tips provided to the reader regarding their career path
• Various working locations (Hospital, clinic, drugstore, etc.)

Or the blog could be directed at non-pharmacists with some of the subjects being

• Supplements
• What to do with old prescriptions
• Over-the-counter medications

 

4. Mobile App

If you have a technology background a possibility of a business idea would be the creation of an app.

The app could be a “pocket” reference guide to pharmaceuticals, providing pictures of the medication, typical dosage, possible side effects, possible overdoses, etc.

Questions could be answered such as

• What happens if I miss a dose?
• What if I mistakenly took another pill forgetting I already had taken a dosage?
• Can I take this “medicine” on an empty stomach?

If you do not have the technical know-how you could team up with a program developer.

 

5. Aerobics Center

Aerobics can be defined as being part of a physical fitness regimen.

Aerobics is a combination of physical activities that elevate your heart rate which in turn enhances the oxygenated blood flow.

The benefits of aerobics are

• Strengthen heart muscle and lungs
• Stimulates blood flow
• Strengthen immune system
• Burn calories
• Stimulates the brain
• Increase strength
• And more

As a business venture, the pharmacist could inaugurate such a center as part of their understanding of the human body and the value of increased blood flow due to this type of activity.

 

6. Mobile Pharmacy

There are many delivery services provided to individuals who, for a variety of reasons, are unable to leave their homes.

If groceries can be delivered as well as restaurant food, why not a mobile pharmacy?

Especially, in the light of our aging population and its growth, a mobile pharmacy would provide a great service to those individuals who need to have the medicines brought to them.

Startup requirements would include

• A vehicle(s)
• Obtaining medicines
• Qualified employees
• Etc.

 

7. Pharmacists Coaching Business

Being a pharmacist can be a high pressured job that is accompanied by related stress.

The reality is that the work of the pharmacist entails more than just dispensing medication.

It is knowing how the medicine affects the human body, any possible interactions associated with the medication and if taken with other medicine any side effects, etc.

In addition, the pharmacist works with other medical staff which can sometimes be demanding relationships as well as customer relationships with the patient which can be difficult due to their illness.

A possibility as a business for a pharmacist is to provide a support center or counseling opportunities for fellow pharmacists on the handling of these stressful situations that have potential medical implications for the pharmacist.

 

8. First Aid Kit

A first aid kit is never thought about until it is needed.

It is like an insurance policy, and it is there if something on an emergency level happens.

A business opportunity for a pharmacist would be to start a first aid kit business.

There could be different sizes of kits available ranging from basic to extensively equipped kits containing more items and for larger families.

Also, as a pharmacist, you could include documentation pertinent to creams in the kit for bug bites, distilled water, ibuprofen, etc.

Also, as part of the first aid kit and as a pharmacist you could provide information about having prescribed medication available for an individual for a certain amount of time in the event of a prolonged emergency.

Also See: Best Job Ideas for People With Degenerative Disc Disease.

 

9. Retail Pharmacy

A retail pharmacy is a smaller scaled pharmacy that can be classified as an independent store.

A retail pharmacist will interact with customers on a greater level but are still responsible for properly dispensing medications and explaining the proper use of the medicine to the patient.

A retail pharmacist, similar to a hospital pharmacist, will review the customer’s account to ensure that there are no possible adverse reactions created when other medications are prescribed.

The major difference between a retail pharmacist and a hospital pharmacist is that hospital pharmacists are required to be part of a 2-year residency program whereas a retail pharmacist is not required to be part of that residency.

Consequently, a good business opportunity for a pharmacist who wishes to be more involved with the patients as it relates to medication may want to consider a retail pharmacy opportunity and opening up such a pharmacy in a local area.

 

10. Medical Device

In keeping with your medical experience as a pharmacist, you can expand your horizons and provide and market various other medical devices.

Possibly, a prescription medical device could be devised to remind individuals to take their medication, or using a device that easily opens prescription bottles, especially for the elderly, etc.

 

11. Drug Rehabilitation Center

A rewarding business opportunity coupled with your understanding of medication would be to start a drug rehabilitation center.

Your understanding of the effect of these substances that are not medically prescribed and are abused could help these individuals who are under the power of the addiction.

Your understanding could be part of the treatment program in helping these individuals to learn about the substance and its effect on them, and help them to gain control back over their own lives.

12. Online Pharmacy

A convenient way for customers to receive their medication is through the online process.

The advances in technology are becoming an ever-increasing business model for pharmacists to pursue especially in the light of customers wishing to reduce their prescription costs.

The pursuit of starting an online pharmacy business may be a good focus for a pharmacist.

There are a significant number of steps that would need to be taken but is doable.

Some of those steps include :

• Strategizing
• Creating A Legal Entity
• Registering Your Online Pharmacy for Taxes
• Obtain The Necessary Licenses and Permits
• Insurance
• And More

 

13. Medical Writing Business

If writing is a talent that you are gifted with you can couple this ability with your pharmacy training to become a medical writer.

You could write for a variety of publications, submit narratives for various websites, and utilize your writing skills to interact with other medical professionals and individuals who need to be educated about pharmaceuticals.

One such possibility of a website that you could write for that is popular and accessed by lay individuals is Webmd.com.

 

14. Coaching

As a pharmacist, you can utilize your current success as a professional to help others who are aspiring to be a pharmacist.

You could provide counseling, insight, and practical tutoring to those who are attending school.

These tutoring or coaching sessions can be done through technology with the possibility of charging the individual per hour for your valuable service.

 

15. Cosmetics

The cosmetic industry continues to grow as products for both men and women are increasing in popularity.

As a pharmacist, you are well acquainted with the pharmacology utilized in the manufacturing of cosmetics.

You could start your own cosmetics store and market the store as pharmacy approved or you could create your line of cosmetics.

You could oversee the various products that are produced, body creams, perfumes, soaps, anti-aging products, etc., and add your own approved ingredient to the mix.

 

16. Alternative Medicine Business

Many individuals today wish to stay away from medications that they perceive as a potential negative given the chemicals that are used in their manufacturing.

Consequently, alternative medicine is becoming an ever-increasing option that individuals are pursuing and taking the homeopathic approach rather than the ingestion of chemicals into their bodies.

As a pharmacist, you can utilize your skill and knowledge to provide alternative medicine to individuals.

You would not necessarily be endorsing the products in your retail store but simply offering them as an alternative to individuals.

 

17. Vitamin Retailing

A business option for a pharmacist is also to provide vitamins to those individuals who wish to supplement their diet.

The availability of the vitamins can be through bricks and mortar stores or can effectively be done online through your website.

 

18. Medicine Wholesale Business

Wholesale retail distribution of medicine can be a business opportunity for you as a pharmacist in connecting to pharmaceutical companies directly and obtaining the various medications that you wish to provide to pharmacies, clinics, etc.

Some of the requirements to start a wholesale drug business would require

• Having a pharmacy license
• Land registration
• Registration – medical store business
• Register company
• Registering for a drug license
• Much more

 

19. Health Seminars

As a pharmacist, you can go into the business of planning and providing the service of health seminars to interested individuals.

With this being your company, you could recruit other medical professionals and provide a full menu of medical informational items to individuals on related medical issues.

For example, a dietician could discuss diets for diabetics, a physical therapist on the importance of staying active, etc.

This would be a valuable service to others as well as a business opportunity.

 

20. Senior Care Service

A company that you could form would be an age-specific pharmacy service.

The baby boomers are reaching their golden years and this large segment of the population, as they grow older, is finding that there are restrictions on their mobility.

As a pharmacist, your business of catering to seniors by taking them their medications, providing prescription counseling, etc. would be a great service to those who find it difficult to leave their homes.

 

21. Start a Saline Water Manufacturing Business

Saline water is a useful formulated solution that is consistently used in the medical field and the treatment of certain conditions within the human body.

A saline solution is a sterile saltwater solution.

Saline can be used to

• Clean wounds
• Treat dehydration
• Rinse the nasal passages
• And more

The production of saline water, upon further investigation, may provide a good business opportunity for a pharmacist.

 

22. Manufacturing of Cottonwool

An important material in the medical field is cotton.

Some of the uses of cotton include

• Cotton balls
• Pads
• Rolls

Part of the importance of cotton in the medical industry is its property of absorption.

A business idea therefore as a pharmacist would be the production of products made from cotton.

Of course, one would need to do their due diligence as it relates to research but your pharmaceutical license would be a good start for this entrepreneurial pursuit.

 

23. Podcast

Given your pharmaceutical degree and your connection to the medical world could provide for some enjoyable, entertaining, and instructional listening through the production of podcasts.

This could be accomplished by producing a talk show utilizing the podcast model.

Your guests could include professionals from the medical world, alternative medicine speakers, news from the medical world, etc.

A small investment towards a sound system may be indicated and you could always work with Spotify to include your podcasts on their platform.

Click here for more ways of making money podcasting.

 

24.Yoga

As part of your study in the area of pharmacology, you also have an in-depth knowledge of physiology as it relates to the human body.

As a pharmacist, you could put all of this knowledge together and become a yoga instructor and eventually move into the area of having a yoga training school.

The process would begin with becoming a certified yoga instructor and as part of the yoga training that you offer would be health-related insight to the attendees of your classes.

To teach yoga requires additional training and one can find this 200-hour training requirement by researching the web.

At www.yogaallianceinternationalregistry.com you can find registered yoga teachers.

 

25. eBook Writing

Perhaps you have a story to tell.

The narrative could be an interesting account of your journey in becoming a pharmacist and what prompted you to pursue this line of medical work.

Or perhaps you have a creative side to you and have a storyline as it relates to the mysterious killings of individuals through the compounding of different types of pharmaceuticals that go undetected during autopsies.

Your writing of an eBook may be inspirational, educational, motivational, entertaining, etc.

To learn more about self-publishing you can access https //kdp.amazon.com/en_US.

 

26. Substance Abuse Counselor

If a pharmacist was looking for a business opportunity that provided a powerful service to individuals with addiction problems, they could become a substance abuse counselor.

The combination of their knowledge of narcotics and opiates and their effect on the human body would be a significant revelation to individuals with substance abuse challenges.

A dynamic of the power of drugs as it relates to the human body could be an educational component in addition to providing practical measures to take for the individual to recover.

Other Business Idea Articles to check out:

• Mechanical Engineering Business Ideas
• Electrical Engineering Business Ideas
• Best Types of Outdoor Business Ideas
• Best Types of Writing Business Ideas

 

Money Earning Side Hustles for Pharmacists FAQs

 

What is the Formal Training Required to Become a Pharmacist?

The requirements to become a pharmacist includes earning a bachelor’s degree alongside your PharmD which takes a period of 6 to 7 years.

Entrance into either one of these programs requires a high school diploma.

Additionally, these programs accept individuals who have earned a bachelor’s degree in subjects such as chemistry or biology which takes 3 to 4 years to achieve.

Once your education is complete then you can make an application for a license which requires:

• Passing a background check
• Submitting your internship proof to your state board
• Completing additional postgraduate hours
• Taking additional training or tests

 

What Are the Licensing Requirements to Become a Pharmacist?

To be a pharmacist requires the successful passing of two licensing exams.

Those two exams are:

• The North American Pharmacist Licensure Exam (NAPLEX)
• Multistate Pharmacy Jurisprudence Exam (MPIE) or a Jurisprudence exam specific to the state of residency for the pharmacist.

 

You Can Do It

As a pharmacist, you have a unique role in the medical field.

Other medical professionals know medication, why it is prescribed, and its effect on the human body.

However, as a pharmacist, you are an authority as your primary medical educational focus has been on drugs and medication, and in your area of expertise.

Consequently, you can utilize this experience and knowledge to pursue other business-related services in which your profession will serve you well as well as others.

 

Conclusion

An integral member of the medical team is the pharmacist.

The pharmacist is called upon to dispense the proper medication, at the right strength, and explain to the patient special instructions as it relates to taking the medicine or any possible side effects.

Additionally, their schooling and experience qualify them for other possible business ventures which ultimately will be of service to others.