The release this week of the much anticipated changes to the Pharmacy Location Rules has ended speculation circulating in the marketplace that long re-locations would go. To utilise the existing long distance relocation rules (rule 106), pharmacists will require a leasing commitment on a premises arranged prior to 18th October 2011 and need to complete
Pharmacy Solutions is currently engaged in selling about 30% more pharmacies than we would normally anticipate at this time of the year. We believe this increase is due to the culmination of a number of factors, including; the slowdown in business sales in the previous 18 months now catching up, the poor economic environment and
Over the last few years Ferrier Hodgson has been engaged by a number of financiers and pharmacists to conduct business reviews, provide business health checks and make recommendations on the options available to them, when their relationship is no longer in the “honeymoon phase”.
The value of your Pharmacy whether selling the entirety, selling a share or re-financing is a critical element of any deal with the financial institution that you or a potential purchaser of your business uses. With a tightening in lending that we have all noted over the last year or so there has come with
On 4 April 2011, amendments were made to the Retail Shop Leases Act 1994 (“Act”) that can greatly benefit Retail Shop Lease holders when they renew their lease or enter into a new lease. Section 36A(2) was inserted into the Act and makes “ratchet clauses” in a Retail Shop Leases void.
It is always important to consider your lease well in advance of any plans to sell your pharmacy. With a lease in place that suits the needs of the purchaser you can expect to maximise the price that is achievable for your pharmacy.
Recently there have been some significant changes to the world we live in. Australia has been losing in the cricket, Collingwood has been winning football finals and NSW is no longer run by a Labour Government. It seems, to quote the Greek philosopher Heraclitus, that the only constant is change. Heraclitus’ musings extend to the
Lots of pressures are hitting the pharmacy market at the one time and all will cause downward pressure on margins which in turn may affect the sale prices of pharmacies in the future. The recent move by Pfizer to deal direct to pharmacy through DHL has sent shock waves through the industry. The withdrawal of
On many occasions over the last fifteen years I have seen good pharmacies become average pharmacies. This has been for many varied reasons. It could be due to competitive forces in the market place,because of changing demographics of a particular area, changes to business conditions, making a poor choice in relation to a marketing group,
The key to financial management is ‘timeliness’ and ‘accuracy (detail)’. Historically, financial reporting has been given little importance in pharmacy because of the following reasons: Regulation of ownership and location rules has protected income; Pharmacy is a cash business with the largest payer being the Government; Access to money from banks has been effortless; Meeting