An interview with Stephen Pisarich, PharmD, and owner of TD Pharmacy in Gulfport, MS.
What attracted you to being a pharmacist?
Initially, the mobility. My undergrad degree is in engineering. Unlike engineering where you typically had to stay put, as a pharmacist you can move anywhere. There is job security in there always being a need for pharmacists.
Prior to having your own pharmacy, I see that you worked for one of the large national chains. What did working there teach you about running your own pharmacy?
The first few years there were really nice. The decisions made by upper management made sense and felt like we (pharmacists) were treated as the professionals we are. The company was very efficient. They scouted great locations and got new stores up and going quickly. The building designs are good. When they initiated the vaccine program, it was well thought out.
Unfortunately, I think they were too big to know either their clients or their employees well enough. It was difficult for them to adjust to local issues or challenges as easily as an independent or community pharmacy might. I would have also liked to have seen more professional development options for pharmacists and the pharmacy teams.
What prompted you to make the leap to being your own boss?
I’ve always wanted to be the owner! Decades ago, I was looking at independent pharmacies to buy. In 2017, my then employer instituted a pay cut, so I geared up. I met someone who could be a partner who showed me how the money flow etc. works and how the big box stores manage to show a profit. Once I could see how to make a living, it all made sense.
Picking location was a challenge for me as a buyer. I looked at multiple properties. Originally I tried to buy the pharmacy that had been our community pharmacy where I grew up. But the owner was 75 at the time and the margins just weren’t there to pay himself. Also, it didn’t have a drive thru and there was no way to add one. The next one I looked at couldn’t handle the debt.
This one checked all the boxes. The former owner had passed away or this opportunity wouldn’t have been. First Financial Bank wanted to help. This location could be better, it’s on a highway, but 100k people drive by. You need the high foot traffic; a corner would have been ideal, but it is across from healthcare providers, so that is great. We are kind of between country and city, so everyone commutes by. And it is still way more convenient than the nearest big box pharmacy that is stuck in the middle of the thick traffic.
What recommendations would you make to someone who was making the leap themselves?
The real secret? Be ready to put in the 60 to 70 hours per week to make it work. Be sure to pay attention to your customers and your numbers. You don’t want to lose any of your customers or your good staff. It’s really rewarding – do it! Best thing I ever did. Do it as soon as you are comfortable with it. If you have it in you, do it now.
