Pharmacy Start-up Tips

Did you know investing in a 1 hour consult could save you a lot of time and money. It's completely confidential and we can help you get the answers you need to make an informed decision to move forward.

Discussion points for the one-hour consult include but are not limited to:

  1. Fundamentals of a pharmacy business plan/proforma.
  2. Deciding between an acquisition and a start up pharmacy.
  3. Basics on establishing a pharmacy valuation.
  4. Understanding the process of an acquisition.
  5. The importance of a non-disclosure agreement.
  6. Cast of supporting professionals needed to realize ownership.

 The consultation can be accommodated by phone, Skype or FaceTime if you prefer.

To arrange a 1 hour consult and for more information please contact us today:

info@rxownership.ca, (Please put “1 hour Consult” in the subject line)

“Innovative solutions that are specific to your actual needs can come about when liaising with our consultants. At the end of the day, our consultants are only interested in one thing, helping you achieve the best possible outcome”.

 

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“If you build it, they may not come”

Built in clinic/offices

There seems to be a growing number of pharmacy professionals who wish to renovate and divide their existing pharmacy or to do a start-up pharmacy to include a doctor’s office/walk in clinic. This holds true for both the established owners group and the younger pharmacy professionals.

A few months ago I spoke with a younger pharmacy professional who wanted to do a start-up pharmacy, and when I spoke to him he had already signed a lease. I asked him if he had written a business plan. He told me he had a plan, however, it was not in written format. His plan included building in a walk-in clinic for general practitioners. He did not know the allocation of space between the retail pharmacy and the walk-in clinic. In addition, when I questioned him further, I asked him if he understood the cost of building the clinic portion of his pharmacy. He did not understand that the millwork costs alone would significantly increase as a result of building in a walk-in clinic. He was under the impression that if he provided space and facilities for general practitioners, that it would be a simple task to attract doctors. Because he had already signed a lease, and had not been consulted on the cost of building in a walk-in clinic, his current ability to capitalize his start-up based on the financing was greatly diminished.................................

 

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