Announcement

Collapse
No announcement yet.

Pharmacy purchase

Collapse
This topic is closed.
X
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • #16
    Pharmacy brokers have an expertise to sell pharmacies, individuals such as BrianA and I too count myself, have an expertise in GP pharmacy. In the early 2000s I set up from scratch a GP pharmacy which grew to be in the top 50 pharmacies based on items dispensed. I too provide advice but at a price.

    However, what I would suggest is allow an incoming pharmacist to be an equity partner, superintendent, manager and pharmacist. If feasible allow a share purchase on a non trading valuation. The incentive to deliver is greater. I too echo the need to pay and keep good quality staff.

    Good luck

    Comment


    • #17
      Sounds reasonable

      Comment


      • #18
        Originally posted by Hearts77 View Post
        I suppose my other question is if we dont take up the offer would the chain sell the pharmacy on the open market and would it go for much less or not be sold at all?
        Hard to say. Although a lot of pharmacies have been put up for sale from chains and sold even using things like chemistanddruggists tracker for Floyd's pharmacies it's quite difficult finding out what happened/why stuff was sold off/closed.

        From a pharmacy staff point of view I've gone through the corporate machinations of increased profitability. You just get told some bonkers stuff by chains, keep all the products the same and increase the sales of them! There will be other things you can sell that'll be an opportunity that the chain has ignored and ignored it's staff that are telling them they could sell/do.

        I was having a mess around with numbers and I had modelled your staff rates as follows
        £8.10 per hour for the sales and healthcare assistant, £8.88 an hour for the supervisor and £8.56 for the dispenser. Allowed for some overtime to cover holidays and a small pension.

        For me if the numbers are anything like this it's quite a timely issue in pharmacy.
        In April the minimum wage goes up to £8.21 and hour from £7.83 per hour.
        It is a difficult one in many pharmacies as guys whow were way above minimum wage are now 10, 20, 30p above the minimum wage.

        This is among reasons why the multiples are having a go at the poor old pharmacist and slowly shaving a pound off locum rates here, a pound there.

        Comment


        • #19
          Originally posted by mcitr View Post

          Hard to say. Although a lot of pharmacies have been put up for sale from chains and sold even using things like chemistanddruggists tracker for Floyd's pharmacies it's quite difficult finding out what happened/why stuff was sold off/closed.

          From a pharmacy staff point of view I've gone through the corporate machinations of increased profitability. You just get told some bonkers stuff by chains, keep all the products the same and increase the sales of them! There will be other things you can sell that'll be an opportunity that the chain has ignored and ignored it's staff that are telling them they could sell/do.

          I was having a mess around with numbers and I had modelled your staff rates as follows
          £8.10 per hour for the sales and healthcare assistant, £8.88 an hour for the supervisor and £8.56 for the dispenser. Allowed for some overtime to cover holidays and a small pension.

          For me if the numbers are anything like this it's quite a timely issue in pharmacy.
          In April the minimum wage goes up to £8.21 and hour from £7.83 per hour.
          It is a difficult one in many pharmacies as guys whow were way above minimum wage are now 10, 20, 30p above the minimum wage.

          This is among reasons why the multiples are having a go at the poor old pharmacist and slowly shaving a pound off locum rates here, a pound there.
          Which leads to a lot of staffing problems.
          If you are talking minimum wages or just above.
          Who would take the responsibility and hassle that comes with community pharmacy?

          Shaving your pharmacist rates also means that you find it hard to retain a committed vocational pharmacist who will keep all the plates spinning and develop the business. They have a 'lot of skin' in the game and will find somewhere else if the T&C are poor.
          47 BC : Julius Cesar : Veni Vidi Vici : I came, I saw I conquered.
          2018 AD : Modern Man : I shopped, I clicked, I collected.
          How times change.

          If you find you have read something that has upset or offended you an anyway please unread it at once.

          Comment


          • #20
            Had a look at the location of the pharmacy you're wanting to buy. Interesting. Busier set of local shops than I thought, but interesting make up and poorer looking. There's nothing wrong with running a pharmacy in such an area it's admirable if that's what you want to do, but interesting what other things/services/etc you could do. Few I suspect.

            From the outside on google street view interesting also, not the biggest of places, can see why it'd need a refit and that it doesn't do that many items. I'd be slightly worried about space/equipment if you did get a busier number of items you need to make a viable profit.

            The company you're talking about is alleged to have a 'magic number' and anything below that is getting flogged off. I know of a pharmacy in these parts that has secretly been sold off recently off the open market.

            One positive is the ASDA pharmacy doesn't have insane hours. That's interesting as ASDA have a lot of 100 hour pharmacies and that one isn't.

            Comment

            Working...
            X