BEWARE THE STING IN THE RECOVERY
For many retailers, 2009 was a difficult year, with deep discounting and sluggish or patchy sales. Yet pharmacists performed better than most, enjoying better growth than just about everyone else, with the exception of takeaway
WHAT IS A RIGHT OF ENTRY DOCUMENT & WHY CAN IT CAUSE PROBLEMS IN THE SALE OF A RETAIL PHARMACY BUSINESS?
Most Retail Pharmacies in Australia have the right to occupy and operate from the leased premises pursuant to a Lease document. When a purchaser enters into a contract to purchase a retail pharmacy business they
Were you on the “Net” this Christmas?
How was your Christmas 2009 trade? For many clients I have spoken to it has been flat and some are down about 5% to 10% on same month last year. The main reasons of course are the
HOW IMPORTANT IS MY LEASE TO THE SALE OF MY PHARMACY?
Nearly all Pharmacy businesses operate under a Lease and throughout Australia those Leases are predominately if not always Retail Shop Leases which are governed by various State based legislative Retail Shop Lease Acts.
BUSINESS OWNERSHIP SUCCESSION STRATEGIES
Whenever speaking to a pharmacist who is either already in, or about to join, a pharmacy partnership, I always ask whether they have thought about their business succession strategy. For the reader who is in
STRUCTURING – STILL WORTH IT?
With the top marginal rate of individual tax starting at $180,000 of income you have to ask whether structuring your pharmacy into a company or trust (depending on which State the pharmacy operates in) it
INVESTMENT OPTIONS OUTSIDE THE PHARMACY
Pharmacists looking to achieve investment goals sooner during the new financial year should take advantage of opportunities for Self Managed Super Fund (SMSF) investment outside the Pharmacy. Accelerating your wealth sooner by making the most
PHARMACY LOCATION RULE CHANGES
The Minister for Health and Ageing has amended the National Health (Australian Community Pharmacy Authority Rules) Determination (“The Rules”). The Determination was made in February and came into effect on the 17th March 2009 and
METHASOFT METHADONE DISPENSING SYSTEM
Health administrations nationally are increasingly seeking to integrate recovering addiction patients back into the community. Retail Pharmacy can and does play an important role in addiction care programs that provide treatment and support in achieving
BUDGET FOR IT
Ever set off to travel somewhere and did not know where you were going? Have an idea of where you are heading but no clue on how to get there – unless you look at
KEEPING YOUR PHARMACY FINANCIALLY HEALTHY
It is always difficult in times of uncertainty, with volumes of negative news and headlines, not to question how things impact your business. However, as a Pharmacy owner you’re not alone, particularly when it comes
2009 – WHAT DOES THE YEAR HOLD FOR PHARMACY?
The unprecedented collapse of world financial markets along with the destruction of a lot of personal wealth certainly took the wind out of the sails of many in 2008! Continual stories of pending doom and