2/13/2023 In our series of blogs about benchmarking, we’ll discuss the best ways to answer a couple of vital questions about your pharmacy business: How much should you be spending on wages? And how do you know if your pharmacy’s departments – front-of-store and dispensary – are profitable enough?
1/30/2023 Bad accounting practices are just, well, bad – for your business and for its value when it comes time to sell. If your books are unreliable, a potential buyer is going to look askance at your pharmacy and wonder what else is wrong.
1/17/2023 We have been helping pharmacist-owners sell their businesses for decades now, and we have often been surprised that the one part of their operations to which they are closest – the dispensary – is also one to which they pay the least attention in terms of measuring performance.
12/14/2022 After a tumultuous 2022 investment year underscores the need to clean up your investment pantry for tax-loss selling purposes.
12/7/2022 When the day comes to start thinking about selling their business, a pharmacist-owner usually hopes that the transaction will be their big step towards realizing dreams of financial and personal independence. So, why does selling a pharmacy often turn into a nightmare?
11/30/2022 Most pharmacist-owners are more concerned with running their businesses than with planning how to get out of them. Yet inevitably, the day will come when you realize it is time to turn the equity in your pharmacy into capital.
10/26/2022 Obviously, rising interest rates are a challenge for any business owner, and to pharmacist-owners who have been preparing to sell, the new rate environment might seem like very bad news. But that is no reason to give up on trying to maximize the market value of their pharmacies.
10/19/2022 Would-be pharmacist-owners are finding that the days of cheap borrowing costs are waning. So, are existing pharmacist-owners in the process of refinancing as the terms on their mortgages come due?
9/28/2022 As with accounting and legal resources, planning to sell your pharmacy provides an opportunity to re-evaluate your financial advice and confirm that you have the right advisor.
9/21/2022 We would suggest that planning for selling your business is a good opportunity to review your current accountant, their experience and their abilities.
9/14/2022 Selling your pharmacy is not just a financial transaction, but a legal one, and it behooves you to consult a lawyer early in the process.
9/7/2022 If you are planning to exit your pharmacy business, you need a good team of advisors on your side. It should include an accountant, a corporate lawyer, a tax expert and a financial advisor, but the single most important member is the team lead – a “quarterback” who will ensure the players are working together and who will represent your interests from start to finish.
