Since 30 June 2018 valuation activity has certainly been very high.
We have seen activity pick up strongly over the last 4 months and it is looking like it will continue. As we are in the middle of the current CPA cycle demand for pharmacies is strong, particularly in the sub $3m market. We have seen several pharmacies being sold and the numbers of buyers coming to us for guidance and assistance has also grown.
This week we have guest blogger Aaron Swyny who is partner of Cohesive Finance. Aaron has over 20 years banking experience with a specialised focus in the pharmacy industry.
In Australia according to Sensis almost eight in ten people now use social media.
That’s why many pharmacies have jumped on the bandwagon and signed up to various social media platforms. Which is great as social media is an amazing tool for building relationships with customers. However, it’s vital to have the right marketing plan in place. So, today we will share some common mistake that pharmacies are making with social media and offer solutions to these issues.
Let’s begin!
The choice of what legal entity you use to own your pharmacy or own your partnership interest through is a critical issue and very complex, often with no perfect answers. To go through all the issues in detail that you need to consider would require me to write three books the size of Lord of the Rings, which doesn’t suit the small framework for this blog.
There is a reason why you decided to become a pharmacy owner. You had goals, dreams and aspirations. Amid running a business day to day it is often easy to forget about why you started. However, to run a profitable pharmacy you must understand why it exists and how you’re going to leverage that into success.
