Ready to buy additional pharmacies?
The first steps of preparation may include the following:
- Write a business plan. A business plan is an essential document for buying a pharmacy, even if this is your first acquisition. Your business plan is the blue print for establishing the key components necessary for success as you move forward. If you are currently a pharmacy owner, then it is essential to build a business plan, which defines the successes and strategies, which you have already proven.
- Understand the demographics of the area where you plan to buy a pharmacy or where you plan to potentially start a pharmacy.
- Start thinking about pharmacy design if you are ready to buy a pharmacy and consult a design expert. Also consider pharmacy design to update a potential acquisition that does not physically suit your business plan and pharmacy practice objectives.
- Assemble a team of trusted advisors, including an accountant, lawyer, merger & acquisition advisor etc.
- Build on the success you have currently and use a properly drafted business plan to your advantage.
Do you know how to do a proper valuation of a potential acquisition? At Rxownership.ca, we can assist you in the valuation process.The steps you take at the beginning of this process will go a long way toward determining your success as a pharmacy owner whether you are buying a pharmacy or starting one. At Rxownership.ca we can assist you to make sure you are headed in the right direction and have the right priorities in order.
Register, be part of our network and you will be contacted automatically when opportunities are available.
Please register here.
Are you a Canadian Pharmacist planning or in the process of starting, acquiring or selling an independent pharmacy?
This book contains the fundamental steps in the preparation, planning and process of starting, acquiring or selling an independent pharmacy in Canada. There are many considerations to ensure the best possible outcome.