Ready to buy a pharmacy?
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.
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