An Offer to Purchase or Heads of Agreement (“Offer”) is typically the first document provided to a buyer in a proposed pharmacy business sale transaction. It is a common fallacy that all initial Offer documents are “standard”. Signing Offers that are not carefully drafted or before seeking legal advice may lead to a range of
At Pharmacy Solutions we have always maintained our complete independence from other avenues of revenue associated with the sale of business. There are so many potential conflicts that we have decided it is best to concentrate on one element of the sale process - the one we do best - selling a client’s pharmacy for the
The year gone was a busy year for us at Pharmacy Solutions. There were 29 sales and numerous consultancy work – mostly in relation to lease negotiations. I am anticipating that 2018 will be very similar with 20 odd current listings and several more close to signing. It is always difficult to predict the volume
I have thought back through all our sales over the last few years trying to think of a sale that has benefitted the vendor because he belonged to a particular brand and cannot think of one where it has. Of course, a purchaser is always thinking how they can add value to the business. Many
It is common for franchise agreements to contain a clause that requires the franchisee to allow the franchisor to match any offer made when selling a pharmacy. A purchaser needs to be made aware of this requirement (which is usually 28 days to match any offer), prior to making an offer on the business. My
For pharmacists suffering the consequences of PBS changes, help is at hand. As a direct result of the government’s controversial changes to the Pharmaceutical Benefits Scheme, many pharmacists are facing tough times ahead that could cost them big money, or worse, their business. Pharmacists are receiving significantly less for dispensing medications, which leaves them in
Thanks to a new website and the readily available technology we are all using every day, you can have one. In fact, your customers can now see a doctor in their lounge room, their office, or while they are out and about by visiting Doctors on Demand www.doctorsondemand.com.au The rapidly evolving technology industry and improved
The passing of the New South Wales Government budget has removed stamp duty on business transfers from 1 July 2016. It is therefore timely for every pharmacy owner (whether in NSW or another State) to understand the current structure the pharmacy is operating within and whether a change can yield a better result. It is
Beginning in November 2016, provisions in the Competition and Consumer Act 2010 (Cth) originally designed to protect consumers from unfair terms in standard form contracts will be extended to contracts where at least one party is a small business. The passage of the new laws has important ramifications for parties on both sides of standard
Annette Ivory-Barker, Director, Pitcher Pharmacy Change management is not always easy but the many benefits of the “External Management Accounting” (EMA) program definitely makes it worthwhile. We recognise that to be competitive in today’s environment, you need to look beyond normal bookkeeping and towards active financial management which addresses the key issues in your business