SELLING YOUR BUSINESS BEFORE IT (OR YOU) BECOMES TOO TIRED
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
SHARPENING THE FOCUS
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
A PURCHASE OFFER TOO GOOD TO REFUSE
Are you a young pharmacist who is working as a managing pharmacist in a large pharmacy and wondering how and when will you ever be able to afford to buy an interest in such a
WHEN A FRANCHISE HAS RUN ITS COURSE
Franchises have a proved and popular and enduring model for pharmacy. The number and variety of those agreements coming across my desk suggests that the allure of the franchise is not fading and that the
HAVE YOU SUFFERED FROM PREMATURE APPLICATION?
Part VII of the National Health Act 1953 (Cth) regulates the operation of the Commonwealth Pharmaceutical Benefits Scheme (PBS) by, in part, controlling the number and distribution of pharmacies approved to supply subsidised medicines under
THE SHIFTING SPACE OF PHARMACY
By now you will have started receiving your PBS reimbursement minus the on-line fee. Most of you will not have felt the decrease because the opportunity of substituting generics in the dispensary continues to support
UNFAIR DISMISSAL CLAIMS UNDER FAIR WORK
The referral by the States of their industrial relations powers to the Commonwealth, earlier this year, means for pharmacy that the employer/employee relationship in most if not all cases is governed by the Commonwealth Fair
TAX IS AN OUTCOME – PLAN FOR IT!
Following on from my last article when I was referring to the current trading conditions, it is apparent that the economy and general trading conditions in pharmacy are not as buoyant as previous years. Add
WHAT DO NEW CARS AND PHARMACY FRANCHISES HAVE IN COMMON?
When I recently raised this question with a colleague, he initially looked at me strangely and wondered whether I had “lost my marbles”. I re-assured him that I was fine and that my question was
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