Posts in Midwest
LISTING: MI-1

MICHIGAN - A long-established apothecary pharmacy (25 years in this location under the same ownership) located in one of Detroit’s most affluent suburbs. This store serves a trading area of more than 10,000 people with an average family income exceeding $100,000 annually. There is limited independent competition in the immediate area, primarily chains and supermarket pharmacies that do not meet the service needs of this affluent customer base. FYE 12/31/18 showed reported sales of $1.33MM, an increase of 5% from the previous year.  95%++ Rx sales, full store margins of 26%.the store is currently filling 18,000++ Rxs annually, 13% cash, the balance traditional Managed Care plans. It is open from 9-6 M-F, closed nights and weekends. 45 hours weekly. The store occupies a 1,200 sq. ft. space,  which includes 200 sq. ft. of storage.  Current rent is $1,200.00 monthly gross, no additional charges. The lease runs until 12/31/2025. The required payroll includes 1 FT Phcst (the current owner is the PIC and FT Pharmacist), 1  FT tech, 1 FT clerk. All existing personnel are experienced and knowledgeable about the customers and the local market. This is an opportunity for a young pharmacist, a first-time buyer, to purchase a long-established, easy to manage store in a pleasant, upscale suburban environment where the customers appreciate personal service. A new owner can earn a comfortable living, well above current pharmacist’s wages, while paying down any debt incurred in the transaction. This store has ample opportunity to grow, explore new niches and specialty opportunities, under new and motivated management. This is a great town and the store is well located, has an excellent reputation for customer service, limited local independent competition.

If interested in this listing, please contact Tom Cook.

MidwestBH