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.
8/31/2022 All babies are beautiful – to their parents. It can be the same with a business. After spending years, even decades, building their pharmacy, surviving through the hard times and celebrating the good, many owners have a difficult time seeing their “baby” for what it truly is.
7/13/2022 Let’s face it: inventory can be a pain to manage. But handling inventory effectively is vital to the success of any retail operation. Doing it right means achieving a delicate balance.
