When two or more people are coming together to buy a pharmacy, we have a bit more freedom of choice about what legal entity we choose. However, if a partner is being admitted into an existing pharmacy business, the incoming partner is restricted to the legal entity the current owner has. Meaning the incoming partner is either buying shares in the company, units in a unit trust, or is in partnership with the other owner. However, it is important that we carefully consider some critical issues.
That is a life-long journey for me. But it led me to starting Pharmacy Mastermind. Pharmacy Mastermind was a key component in the evolution of myself and Peak. It brings together the people, the talent, the experience, and the skill sets needed to help pharmacies owners grow and prosper.
Now that Pharmacy Mastermind has been operating for a while, I wanted to share with you a couple of success stories and how we have helped pharmacies to grow.
Considering pharmacy partnership? With careful thought, bringing in a junior business partner is an exciting time for everyone. It is a great honour to be able to mentor and guide a pharmacist making their first entry into business ownership. The focus of course must be on business success and protecting the business.
