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The evolution of buying and selling a pharmacy: 7 steps to a highly effective sale or purchase

For a long time now it has been clear that a large majority of pharmacy graduates are women, and that many outstanding young pharmacists are entering our profession and business.  It has been equally clear that these young professionals - on whom the very future of pharmacy depends – have not been taking up pharmacy ownership or moving into the various organisations to the extent that would reflect their numbers and importance.

It is vital to any profession that young, intelligent, well qualified and highly motivated people come through and refresh and revitalise it.  This is especially important in community pharmacy where we have such a valuable and trusted relationship with the people we serve.

This backdrop provided The Pharmacy Guild of Australia – the organisation representing the pharmacist owners of Australia's pharmacies with the motivation to produce the resource Buying a Pharmacy – The Owner’s Business Kit. The Kit, managed by the Guild’s Women and Young Pharmacists’ Committee, provided insightful advice on practically every aspect of establishing and running a viable pharmacy business. 

"This is a fantastic product. It is well researched and a practical and concise guide on buying a pharmacy for new buyers. I found it very useful."

Jay, Locum Pharmacist, NSW

"I wish the Kit was around when I first purchased equity in a pharmacy. The whole process was very involved with accountants, wholesalers and lawyers. The Kit prepares you for what lies ahead."

Jo, Pharmacy owner, WA

The Kit was such a huge success that the WYPC produced a second edition. The second edition of the Kit Buying and Selling a Pharmacy: 7 Steps to a Highly Effective Sale or Purchase was an easy to use comprehensive online resource guide, including reviewed and updated information related to the purchase of a pharmacy and ownership obligations.  The online guide included information and issues regarding the sale of a pharmacy and details on succession planning, helping to address the ownership and workforce issues being experienced by the industry.

By including content on the procedures and options for both buying and selling a pharmacy, the Kit became even more comprehensive and relevant to a wider pharmacy market – the buyer and the seller.

The second edition has now been reviewed and updated with a new look and format, but with the same comprehensive and valuable information.

The latest version was launched at The Pharmacy Women’s Congress in Hobart in August 2010 and contains current and relevant information for potential buyers and sellers.

Women and young pharmacists' committee (WYPC)

In 1995 the National Council of The Pharmacy Guild of Australia addressed the need to involve more women and young pharmacists in official pharmacy leadership positions so as to ensure that community pharmacy is continually refreshed and revitalised.  A Committee was established and in 1997, after a number of name changes, the Women and Young Pharmacists’ Committee was formed to actively promote and encourage women and young pharmacists to pursue pharmacy ownership as a viable, rewarding and flexible career option.  

Objective

The overall objectives of the WYPC are to:

• primarily assist women and young pharmacists become pharmacy owners; and
• increase the representation of women pharmacists in leadership positions at a State/Territory and National level within professional pharmacy organisations.

The WYPC comprises a representative or its nominee from each of the Guild's State and Territory Branch Committees. The WYPC is administered by the Government Relations and Policy Division.

WYPC members

WYPC State and Territory Representatives 

Guild Committee Members

Toni Riley (Vic)

Sue Holzberger (Qld)

Natalie Willis (WA)

Amanda Galbraith (ACT)

Lillian Chen (NSW & Women's Congress)

Morag Horton (SA)

Madeleine Bowerman (TAS)

Judith Oliver (NT)

External Members

Ashleigh Coome (NAPSA Representative)

National Secretariat

Ann Dalton

Marion Whalan

Karen Killeen

Melanie Byers