Marla Ahlgrimm: In general, compounding pharmacies offer a number of different medications that have not been made commercially available for people who are required to take very specific dosages. The first step in starting the business is to obtain a loan through a trusted institution. That will involve the presentation of information such as a personal resume, loan proposal and executive summary to establish one’s fitness as a business owner.
Q: How can I get the ball rolling in this endeavor?
Marla Ahlgrimm: The first is to establish whether the pharmacy will be incorporated as a partnership, a corporation or a sole proprietorship. Have a firm grasp on the different permits and licenses necessary to owning and operating a pharmacy, and then develop an financial statement and business plan.