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Business Analysis
Buying a practice is challenge for the inexperienced and young professionals.
A good practitioner doesn't necessarily make a great practice owner. The burden of ownership and practice management require specialised development and training. While some are instinctively good at it, most will need to develop their management skills (or those of their support team) to match their professional skills.
We have found that informed buyers ask the right questions and gather the important information early in the process. This gives them a head start in the negotiating process.
Is Anyone Listening? Be Alert When Purchasing A Pharamacy
Business Analysis
27th May, 2008
Despite the numerous threats and pressures facing pharmacy, Goodwill is and remains at an all time high. By any measure the cost of pharmacy ownership is high and the payback period greater than in recent history. So too are the associated risks of pharmacy ownership.
However, the returns for wisely selected pharmacies can be excellent and the rewards, both personal and financial, can be exceptional!
Recent sales evidence suggests a number of warning bells which I wish to alert you to.
Is Anyone Listening? Be Alert When Purchasing A Pharmacy
Business Analysis
27th May, 2008
Don't pay the seller for what you bring to the table!
Emotion and fear are often the twin drivers for the purchase of a pharmacy. This is particularly so where a competitor is thought to looking at the same opportunity.
Brokers are very skilled at creating the 'pressure pot' for sales and a quick decision. They drive the emotional factor! They will often encourage the purchaser, to never mind the reported results and think about what "you could do with this business" and, as a result, have the purchaser pay a premium to the seller for value yet to be created by the purchaser.
Is Anyone Listening? Be Alert When Purchasing A Pharmacy
Business Analysis
27th May, 2008
Don't pay the seller for what you bring to the table!
Emotion and fear are often the twin drivers for the purchase of a pharmacy. This is particularly so where a competitor is thought to looking at the same opportunity.
Brokers are very skilled at creating the 'pressure pot' for sales and a quick decision. They drive the emotional factor! They will often encourage the purchaser, to never mind the reported results and think about what "you could do with this business" and, as a result, have the purchaser pay a premium to the seller for value yet to be created by the purchaser.
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This event is a Breakfast event for Pharmacists
This event is a Breakfast event for Pharmacists