Date: 2 December 2020
Buying a pharmacy is a major investment and the need for careful and considered steps in preparing to enter pharmacy ownership is critical to the long-term success of such a venture.
Likewise, selling a pharmacy needs careful planning and thought to ensure the best outcomes.
The Pharmacy Guild has always looked to support new owners of community pharmacies, as well as helping existing owners “retire” from pharmacy ownership or take on a mentoring and support role to younger partners in their pharmacy.
To help pharmacy owners and prospective pharmacy owners the Guild has updated its invaluable Buying and Selling a Pharmacy Guide.
This Guide outlines a seven-step guide on the process for pharmacists who may be buying or selling their pharmacy, from finding the right pharmacy to purchase, through to considerations such as pharmacy management, financial and legals. The Guide provides advice on practically every aspect of establishing and running a pharmacy business from market research, ownership structures and small business management, right through to information and business technology systems, appointing an agent and financial and legal considerations.
The guide includes checklists, tasks for the first 100 days of business and tips from experts in the field of community pharmacy.
A significant portion of the hard work has been done for potential buyers or sellers in this guide which is designed to help avoid the risk of making costly mistakes.
With a wealth of resources and links to pharmacy professionals and other organisations, the Buying and Selling a Pharmacy Guide provides an excellent way for potential purchasers or sellers to quickly become an expert.
The guide is a free resource for Guild members and can be purchased by non-members. Click here to access.
Contact: The Guild