OBJECTIVES: To assess how the managerial skills will affect pharmacy performance in terms of the financial results, personnel’s satisfaction and customers’ satisfaction. METHODS: This study was a cross-sectional, descriptive study, using three separate, anonymous questionnaires, responded by pharmacy managers, personnel, and customers. 300 randomly selected community pharmacies located in Tehran were invited to the study. The main issues assessed in this study included pharmacy financial performance, personnel’s satisfaction, customers’ satisfaction, and managerial skills that are essential for managing the community pharmacies, including skills related to the managemnt of human resources, physical assets, technology and information resources, communication, marketing, finance and accounting, and strategic management. Analysis of the obtained data was performed using SPSS and LISREL and included descriptive analysis, factor analysis, and structural equation modeling. RESULTS: The change in the level of the managerial skills has significant correlation with the changes in the pharmacy performance in the all three examined areas of the performance such that one unit increase in the managerial skills, results in an increase equal to 0.51, 0.54 and 0.31 units increase in financial results, staff satisfaction, and customers’ satisfaction, respectively. The influence of the manager’s skill on the customers’ satisfaction completely depended on the intermediary role of the personnel’s satisfaction. Among the various aspects of managerial skills, expertise in the management of human resources, finance and accounting, communications as well as marketing had the highest contribution in composing the managerial skills. CONCLUSIONS: Given the results of the study, the significant impact of the managerial skills on the pharmacy performance is undeniable; therefore, promoting these skills seems essential to achieve excellence in pharmacy performance. The study also highlights the importance of the intermediary role of the staff’s satisfaction to seek customer satisfaction, which reaffirm the importance of the managerial skill in terms of the human resources management.