History
The last two decades of the 20th Century were a difficult time for
independent community pharmacists. An incredible, once in a lifetime
combination of aggressive new competitors, expansion of managed
care and third party prescription plans,
coupled with the rapid growth of the chains led to a major decline in margins,
both gross and net, and to the number of independents in the country.
During that period, there was nearly a 50% reduction in the number of independents, from
more than 40,000 in 1980 to about 20,000 in the year 2000. Sadly, many
of these stores were simply closed up or sold to chains for a few
dollars more than the net value of the inventory.Entrepreneurs are Buying
At this moment in time, the "survival of the fittest" theory
has taken hold in the world of independent pharmacy. For the first time
in more than twenty years, independent stores are changing hands for
reasonable prices, and being sold to new entries to the independent
market, young pharmacists, men and women who find professional
satisfaction and financial success in owning and operating their own
businesses. It is no longer necessary for those with entrepreneurial
spirit and the willingness to work hard and take risk to just be
employee pharmacists in a large chain pharmacy.
Selling for Reasonable Prices
That said, it is also no longer necessary for those pharmacists who wish
to sell their businesses to just turn them over to a large chain for a
token payment in excess of the value of their inventory. While margins
have clearly shrunk, recent reports
show that the "average" independent does more than $3 million
in sales volume, and that number is no doubt higher in densely populated
metro areas.
Using Professional Consultants
Our firm functions as evaluators, appraisers and advisors to the world
of independent community pharmacy buyers and sellers. Utilizing 21st
Century technology tools and sophisticated financial modeling
capabilities, we help buyers and sellers enter into a fair and equitable
transaction, one which will withstand the test of time and provide each
party to a transaction with what they expected. For the seller, a fair
price and a qualified buyer. For the buyer, an economic outcome that
will provide him or her with a reasonable return on invested capital,
the ability to service any debt incurred and the ability to earn a
salary commensurate with the managerial responsibilities and risks
involved in owning one's own business.
Buy-Sell widens focus with new associate.
Read more.
If you want to buy or sell a pharmacy, we are the firm for you.
Please review the rest of this web site so you can fully understand
who we are and what services we can offer you. Then go to the Contact
Us page and let us know how we may be of assistance.
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