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17 May 2018
I had the great pleasure of speaking to a group of pharmacy owners for the Future Pharmacy Program breakfast workshop with John Chew from Bankwest on Tuesday 15th May. I gave everyone an update on valuations and where I see…
10 May 2018
Businesses are continually being encouraged to incorporate social media into their marketing. However, many misinterpret its purpose. Today, we will discuss how social media can be utilised for your pharmacy.
3 May 2018
Managing a pharmacy business requires wearing many hats, including understanding marketing. Here, we share tips on how to utilise marketing to promote services like the flu vaccination to your customer.
18 April 2018
Regular communication between pharmacists and pharmacy staff with other health professionals over informal lunches has resulted in a much better understanding of each other’s needs and the work they do for patients.
12 April 2018
It is important when you are buying a pharmacy outright or buying into a partnership you are aware of what exactly you are buying and what liabilities you are responsible for. Typically when you are buying a pharmacy an outright…
29 March 2018
In our last blog we discussed the capitalisation rates used in valuations, how they are determined, the impact they have on the value of a pharmacy and some of the issues that valuers consider. This week we look at the…
14 March 2018
The process of undertaking a valuation can often be a subjective process. It involves the interpretation of vast amounts of both quantitative and non-quantitative information and forming opinions on the performance of the business. Accordingly, different people will have a…
8 March 2018
With the increase in cybercrime, hacking, malware and virus attacks and also given new government compulsory breach reporting legislation, it's important that business owners tighten their online security protocols.
15 February 2018
From 22 February 2018, the Privacy Amendment (Notifiable Data Breaches) Bill 2016 (the data breach law) will come into effect after having been passed by both Houses of Parliament.The data breach law, which will apply to most community pharmacies, means…
1 February 2018
Pharmacy is to a large degree a retail business, and whilst credit cards, debit cards, payWave etc. are increasingly popular, a large amount of cash still passes through our pharmacies. Most owners will try to put in place the best…