Finance for Pharmacists

We understand the pharmacy business - and we know every solution to bring you the finance you need.

Or call a Pharamacists finance expert on +442033182613

Asset finance

  • Make any pharmaceutical equipment affordable
  • Spread the cost of buying over up to 60 months
  • Lease - with no capital cost
  • Release cash tied up your exisiting equipment

Build your business

  • Buy premises with a commerial mortgage from 2% above base rate
  • Buy a competitor
  • Take on staff, expand your practice
  • 100% funding available

Any funding need

  • Lending to let you buy in as a partner
  • Support your cashflow
  • Bring in stock
  • Bring in staff - provide training

Talk to Rangewell – the business finance experts

At Rangewell our business finance experts work across the entire lending market. We understand your funding need as a pharmacist, and help you find funding solutions to help you run and develop your practice

If you are a qualified pharmacist, or already a pharmacy manager, opening your own high street pharmacy could be a rewarding next step

Running a pharmacy can be a particularly lucrative business, letting you use your professional skills, and providing a huge range of commercial opportunities.

But whether you are opening a new pharmacy or taking over an existing chemist shop, you will need finance. Being able to capitalise your business is key to its success.

Acquiring premises, shop fitting, stock, the costs of operating the business, or specific costs like dealing with your tax bills without disrupting your cashflow will all need external funding. At Rangewell, we understand the particular challenges you face, because we work with pharmacists across the UK, and help them find solutions to their funding needs.

Funding options for pharmacists

We can help you find the right type of funding option to:

  • Buy an existing pharmacy - or set up a new business
  • Acquire premises  for your pharmacy
  • Acquire equipment and assets
  • To acquire a pharmacy franchise
  • Provide working capital and finance growth
  • Deal with tax

Funding to buy a pharmacy

Whether you buying into an existing pharmacy as a partner, or buying it outright or set up a new pharmacy practice, you will have a number of costs to consider. The profitability of the existing business, the level of funding form the NHS contract, the current and potential value of sales for items alongside the core pharmacy business, and the ongoing costs will all need to be taken into consideration.

Buying an existing pharmacy

If you are acquiring an existing business, these income streams and costs may be a little easier to predict. If you can assess the performance of the business to understand its current value it may be easier to agree a fair price.

The price you negotiate for the business as a going concern should include:

  • The purchase price of the premises if they are owned by the business
  • Goodwill, fixtures and fittings
  • Stock: Included as part of the sale

You will also need to pay for solicitors and accountant’s fees.

If you are thinking of buying into a large practice, you may need to do so as a partner - or buy out a partner who may be retiring. Buy in and Buy Out finance recognises the challenges and provides funding tailored to help you make full use of the opportunity.  

Setting up a new pharmacy

Setting up your own practice will also have some substantial costs.  There will be premises to pay for – most likely with a rental agreement in the first months and years, at least.

There may also be shopfitting and equipment to pay for. You’ll also have staff and operating costs, electricity and business rates.

Remember you will also need to make provision for your working capital cash flow. You will need funds to deal with all the business expenses including your own salary in the early months of the business. It may take time for you to build a customer base if yours is a start-up business.

See how we can help you find the most cost-effective funding to buy or set up a pharmacy business.

Franchising a chemist shop

As an independent pharmacy business, you may face stiff competition from the major chains. A franchise from one of the leading pharmacy names could reduce the risks, let you offer a familiar brand and provide support with marketing and buying, while still allowing you to be your own boss.

At Rangewell we are experts in helping all kinds of UK businesses find the funding they need to take up and run franchised operations.

See how we could put a pharmacy franchise within your reach.

Funding for your equipment

Whether you are starting up, buying into an existing business, or ready to move your current business on, you will need equipment. Your own dispensing equipment is an obvious cost, but you will also need retail equipment, with displays, shopfitting and POS systems.

  • Refrigeration units
  • Drug scales
  • Secure drug cabinets
  • Dispenser counters
  • Security systems
  • IT equipment

At Rangewell we have found that Asset Funding can provide the most cost-effective solutions for most kinds of equipment your pharmacy will require. Asset Finance covers a number of funding solutions which can help you.

Hire Purchase

If you need equipment that you want to go on giving service for years, Hire Purchase brings you outright ownership of the asset and enables you to spread the cost over a term that suits you of up to five years.

  • Repayments are fixed to allow easier budgeting
  • Capital can be preserved by spreading  costs
  • Fixed payments - tailored to suit your individual circumstances

Leasing

If you need the latest equipment without the cost of owning it, leasing will give you the freedom and flexibility you need. Leasing can mean that responsibility for maintenance remains with the leasing company, reducing demands on your time as well as reducing costs.

  • No upfront deposit required
  • Repayments are fixed to allow easier budgeting
  • Capital can be preserved by spreading  costs
  • Fixed payments - tailored to suit your individual circumstances
  • Protection of existing credit lines, making any further borrowing easier
  • Up to date equipment - be ahead of your competitors

Vehicle finance for pharmacists

Asset finance solutions could also help provide a business vehicle, which could be essential if you want to offer a delivery service.

See how Asset Finance and Vehicle Finance could help you cut the cost of the vehicles you need.

New or used?

Good quality used equipment can be a sound investment, especially if you are setting up a new practice. However, many pharmacists miss out on the potential savings because they believe they need to find cash to pay for it.

At Rangewell we can help you spread the cost of used as well as new assets with Asset Finance. Find out more here.

Funding to buy chemist shop premises

Retail premises in a good location, ideally with parking and public transport nearby will be a major cost for a successful pharmacy practice. You may need to for the deposit on a long-term lease. Alternatively, you might be able to reduce your monthly outgoings and acquire a valuable asset for your business with a Commercial Mortgage.

A Commercial Mortgage could help you acquire new premises, or acquire your existing premises from your landlord. It could also help if you want to buy additional premises as a branch of your existing business. If you already own your premises, you may also be able to raise finance by remortgaging them.

You can find out more about the benefits of a Commercial Mortgage.

Funding to refurbish pharmacy and chemist shop premises

You need to present a  fresh, clinical and modern interior to bring in customers. Find out more about finance for refurbishment.

Running and growing your pharmacy

Your existing practice will have ongoing costs that you need to deal with. You may want to refurbish your premises to deal with wear and tear. You might want to fund growth, taking on staff or even take on a branch. You might also need to deal with more cashflow issues especially in the early stages of a new practice.

At Rangewell, we know all the solutions available and we can work with you to find the finance that is most appropriate for the particular challenge you face.

Tax Loans

Large quarterly VAT bills or annual tax demands can cause problems with your cashflow, particularly when that falls at the same time as other costs.

Tax Loans help you to spread the cost of your tax demands into affordable monthly payments.

See how a Tax Loan can mean better control of cash flow with fixed monthly payments.

Working Capital Finance

Working Capital Finance is designed to boost the working capital available to a business. It's often used to provide cash to pay staff a during the early weeks and months of opening a practice or during a period of growth. It is designed to be repaid in the short- to medium-term.

Our finance experts can help solve your working capital needs.

REAL EXAMPLES OF WHAT WE CAN DO

  • Find the most competitive loan to let a pharmacy manager acquire his own business

  • Arrange funding for shopfitting

  • Source funding to help a pharmacy owner acquire his shop premises, and the rest of the building

  • Find the most competitive finance to allow the full refurbishment of an established pharmacy business

  • Help arrange ‘jigsaw’ funding to allow a qualified pharmacist buy an existing business

Growth Finance

Having access to substantial finance is essential if you have major plans for your practice, such as acquiring a competitor. Growth Finance is a special type of funding designed to fund your growth plans.

Even if your practice does not have the history and profit record that lenders usually require, we can help you find solutions.

Get our help finding the most competitive lending for your needs.

Unsecured and Secured Loans

Whatever your business finance need, we can help find financial solutions. Find out more about Unsecured Loans and Secured Loans.

Why you need Rangewell to find finance for your pharmacy

Your professional status can help you secure attractive rates for the funding you need, especially if you can demonstrate a successfully performing business through accounts and potential through a detailed business forecast.

Finding the most competitive deal across the entire market takes time and knowledge. We know the lenders who can offer the most competitive rates for all types of finance. As well as conventional finance products, we can help you find Alternative Funding, using new loan providers and styles of funding.

Whether you have a straightforward, small-scale funding need, or require a complicated ‘Jigsaw’ funding plan made up of a combination of financial products, we can work with you to find the answers.

Call us now to get our experts working for you.

I found the ideal retail premises. I was able to buy them and the flats above with a commercial mortgage.
Fitting out a shop as a pharmacy is expensive. I’ve found the funding to help me do it.
I run my pharmacy as a franchise. The costs were high, but the benefits made it a very worthwhile investment.

Helping you build your profits

Cutting the cost of equipment with Asset Finance

Equipping a retail pharmacy can mean a substantial investment. Asset finance can provide the equipment you need while spreading the costs.

Helping you build your business

We can provide the funding you need at every stage of your business, from acquiring premises, an existing business or a franchise to supporting your ongoing development.

Acquire premises

You need retail premises in the right location for your business to succeed. We can help you lease them - or buy them outright.

Tailored finance

By working with you to understand your business needs, we can help find the most appropriate funding to meet them - reducing your costs.

Making franchising affordable

A franchising arrangement can help you compete with major high street pharmacy chains. We can provide the funding you need.

Specialist lenders

Some funding providers specialise in particular areas of business. At Rangewell, we can help you find the most appropriate lenders for the pharmaceutical sector.

Download Rangewell’s free and detailed guide to Finance for Pharmacists

Rangewell Ebook - Download Rangewell’s free and detailed guide to Finance for Pharmacists
  • What types of finance are there - which do you need?

  • Why not all providers are equal - finding the one that’s right for you

  • How we can provide an additional income stream

  • The downsides to finance - and how to avoid them

  • How to arrange finance - what paperwork do you need?

  • Key terms explained

  • Download now

Getting the right funding arrangement is essential

There are many forms of business finance available. Getting the most appropriate type for the business needs of your pharmacy is essential to avoid excessive costs

Your key equipment could be at risk

If you are unable to keep up repayments on a hire purchase or lease agreement, the equipment your practice depends on could be could be at risk.

Long-term financial commitments

You may not be able to pull out of a finance arrangement once set up.

Our service is...

Impartial

Transparent and independent, treating all lenders equally, finding the best deals.

In-depth

Every type of finance for every type of business from the entire market - over 300 lenders.

In-person

Specialist Finance Experts support you every step of the way.

Free

We make no charge of any kind when we help you find the loan you need.