"To achieve sustainable generational change, pharmacy needs to develop funding and ownership solutions for younger pharmacists, the new generation. These solutions must take account of the limited capital many of the new generation of owners will bring to the table. Medici Capital is developing an approach to provide better access to capital as well as assist pharmacists to become ownership ready."
As a pharmacy owner have you considered your own life-cycle within the pharmacy? Do you have a planned exit strategy? Or do you have the networking/resources to obtain a buyer/prospective partner?
Conversely, as a prospective owner/partner, have you begun to consider the business and managerial aspects of pharmacy? Do you know the difference between different pharmacy models and do you know which one you would suit? Additionally do you have a planned approach to impoving your commercial competency to enable you to own/manage a pharmacy rather than simply being the pharmacist within the dispensery?
Practice4Sale is seeing a growing interest in Pharmacy Sales and Pharmacy Partnerships through its website. Our research of traffic has determined that Practice listings on Practice4Sale generate consistent levels of traffic from day-to-day, week-to-week, indicating a strong interest in ownership opportunities.
As part of your succession plan, consider how you can prepare yourself and your pharmacy for sale. Additionally, how can you assist the transition of the new owner/partner into the business?
As a prospective owner; begin now looking for your pharmacy ownership opportunity. For many pharmacists, the process of purchasing a pharmacy takes some time, so start early. Familiarise yourself with the business aspects of pharmacy and build on your commercial competency.
For further information, seek assistance from Medici Capital and keep posted on Practice4Sale.com.au for ownership opportunities.
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