What is the average yearly income of a pharmacy owner? [And the highest income you can get?]?

Question

...

Answer 1

I've got two friends who are pharmacists.  One tried running his own shop (took over an established neighborhood drug store) but gave up after two years.  He couldn't compete with the chain pharmacies (CVS, Walgreens, Eckard, Rite-Aid), that make their own deals with insurance companies and undercut prices to the point where he couldn't possibly compete, plus they're mini-supermarkets now selling all kinds of stuff with high profit margins.  He also couldn't afford to hire another pharmacist, so ended up putting a huge amount of time into the business.  My other friend found a different way to go.  He's got a regular gig as a hospital pharmacist (with benefits), handles a couple of nursing homes on his own (MDs write the scrips, he goes in twice a week at night to fill them) and picks up side work at chain pharmacies (that high-priced help the first guy couldn't afford).  Doesn't have to manage the store, just supervise the clerks while he's on duty.  Comparing the two, one guy got stressed out to the point where he was an emotional and financial wreck, while the second guy has a pretty relaxed and economically comfortable lifestyle.  As to $$$, I don't know specifics, but the diversified approach is almost limitless (you can work for as many nursing homes as your need for sleep will tolerate).  Owning a shop nowadays, unless you get real lucky and find an area that's got no corporate competition, you'd be hard-pressed to make a living.  However, doing the part-time thing at the chains, as a licensed specialist, they probably make more per hour than just about any other part-time occupation.