Get your first purchase right with smart planning and financial insight
Buying your first pharmacy is a major milestone, but it also comes with its fair share of complexity. From funding and legal work to business planning and compliance, the journey can feel overwhelming if you’re not fully prepared.
At FTA Finance, we’ve helped hundreds of pharmacy professionals secure funding for their first purchase. Over time, we’ve seen the same avoidable mistakes crop up again and again.
Here are the five most common pitfalls first-time pharmacy buyers make and how to avoid them.
- Underestimating the full cost of buying a pharmacy
Many buyers focus solely on the headline purchase price and forget the other essential costs – valuation fees, legal advice, refit works, working capital, stock, insurance, and business registration fees.
Top Tip: Build a complete financial picture from the outset. A specialist broker will help you calculate the real cost of your purchase, not just what’s on the sales agreement.
- Leaving finance too late
Waiting until you’ve found the right pharmacy to start looking for funding is a common mistake. This often leads to delays, or worse, missing out on the purchase altogether.
Top Tip: Speak to an independent commercial finance broker as early as possible. Pre-approval gives you clarity, boosts your credibility with sellers, and allows you to move quickly when the opportunity arises.
- Using the wrong advisors
Pharmacy sales are highly specialised so using a general solicitor or accountant can lead to delays, poor advice, or missed red flags during due diligence.
Top Tip: Choose advisors who understand the pharmacy sector. From your solicitor to your finance broker, pharmacy-specific knowledge is essential for a smooth and successful transaction.
- Not comparing the lending market
Going straight to your personal bank might feel like the easiest option but it almost always means you’re missing out on better rates, flexible terms, and funding tailored for pharmacy businesses.
Top Tip: Use an independent broker like FTA Finance. We access the whole market and know which lenders are actively supporting first-time pharmacy buyers and what they’re looking for in an application.
- Focusing only on pharmacy, not business
It’s natural to focus on the dispensary, services, and clinical aspects but pharmacy ownership is a business, and you’ll need to understand cashflow, staffing, stock control, and marketing to thrive.
Top Tip: Start thinking commercially. Surround yourself with professionals who can guide you not just as a pharmacist, but as a business owner.
At FTA Finance, we specialise in helping first-time pharmacy buyers secure the right funding, with support every step of the way. From calculating your borrowing power to presenting a strong case to lenders, we’re here to make the process smoother and more successful.
Looking to buy your first pharmacy? Speak to FTA Finance and get the independent, sector-specific support you need to get it right from day one.
We are able to source a wide range of innovative and competitive Healthcare Finance packages specifically tailored to, and for, Healthcare Professionals such as:
Remember!
You are in a specialist market so use a specialist broker who understands your sector. With access to major banks and specialist niche healthcare lenders, we know the types of proposals that are synonymous with this sector.
