Nowadays it is becoming more common for people to upload content, (both text and multimedia), to external sites - in particular social networking sites such as Facebook and Twitter. But what has started as a trend to keep in contact with others is starting to morph into an online record of who you are and what you've been up to. In the face of job hunting and developing a career, it is important to realise that the content you place online can come back to haunt you.

Recently I notice…read more

More on: finding sales opportunities! Where are the growth areas or the best areas to buy for a young pharmacist?

If you have done your homework and a thorough due diligence then (within reasonable confidence limits) the business should deliver minimum surprises.

However, possible dangers could include:

The challenge of ownership is to live, learn and anticipate — being mindful of the threats without being fearful of them can be a positive impe…read more

Proving that the price and numbers given about a pharmacy are true and correct (i.e. financial due diligence). What to ask for to validate what you have been told by the broker when you think he is painting a "rosy" picture?

Use Medici Express for a quick and simple indicative valuation.

If we are talking about the business value this is still able to be determined as a total value through financial analysis it then becomes a matter of agreeing share and remuneration for services as opposed to share of profit. Note, if you are acquiring a minority interest with limited control, this is generally discounted by the market.…read more

What are some of the perks of ownership? Tax write offs? Free goods?

If you ask a banker how much you need to bring to the table, the typical answer would be 25% of the total cash needs for the transaction. By preparing a solid, conservative Loan Proposal, 10-20% has been acceptable.

For an average pharmacy with say a $2,000,000 turnover and say a $1,500,000 value, this means you will need approximately $375,000 in cash or unencumbered equity in other assets (i.e. your home).…read more

There are 3 fundamental economic realities about pharmacy. They are:

Over the next two weeks, I will focus on items 2 and 3. This week I would like to discuss item 1 in detail.

Many f…read more