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November 4, 2020
Take stock - In the contract

What’s in the pharmacy contract? There are many variations when it comes to contracts of sale. Special conditions include clauses that support the understanding and treatment of the following areas; Total Value Stock Employees Restriction of trade Treatment of Debtors Leased equipment Lease of premises The total value of a pharmacy business is the combination […]

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May 18, 2020
Pharmacy Partnership Considerations

There is a lot to consider about partnerships and the only way to begin a partnership understands that the partnership will end and therefore you plan for it. That sounds negative but it’s not. I’ve see great partnerships that have lasted people their whole careers and I have mediated and witnessed some disasters. Life changes […]

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February 15, 2019
It makes sense to ask! – It takes VISION!

If you really think about it, not often do you get true independent advice about your business. Often the advice you do get is from your Brand or another Brand wanting to become your Brand, or your wholesaler and other suppliers that want to maintain your business. Your accountant usually has some good ideas, however […]

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November 27, 2018
The award goes to…

The award for best performing pharmacy goes to… Just for a bit of fun after last month’s article trying to track down the landlord who was on a wine tasting tour in Tuscany, I thought we might hand out some awards. So, if ‘pharmacy’ had its ‘night of nights’ and awards were given to different […]

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August 6, 2018
Broker, Banker or Receiver!

Now I have your attention, I want to remind you that your business is your business and you need to manage it well especially though an economic downturn. Don’t let things get out of hand because before you know it, you start having to report to the bank. Then, before too long you have stopped […]

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April 11, 2018
Love thy Landlord!

You have got to be kidding me! “My landlord wants to put the rent up again and I think I am already paying too much.” I know what you mean, however when it comes time to selling the pharmacy or refinance, you need to be on good terms with your Landlord. Here is a role-play […]

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March 8, 2018
Pharmacy Values – what’s involved in valuing a pharmacy?

Let’s start by confirming that each valuer might value your business or the business you are looking to purchase slightly differently from the next valuer. Some valuers may be asked to value pharmacies for and on behalf of a financial institution (bank). This means the bank knows the valuer and he is on the ‘panel […]

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