What to consider when buying your first pharmacy

Once you’ve found a pharmacy you are interested in buying, what do you need to look at before making an offer?

At the point where you’ve got your eye on a particular pharmacy, the next thing you should do is conduct a proper appraisal. You need to understand how profitable the business is, what changes you can make, how the purchase will be structured, and how much money you’ll need to pay and when. This will give you a good idea of and what the pharmacy is really worth, and ensure no nasty and unexpected surprises rear their head after you’ve put money on the table.

Key learning points:

• How profitable is the business you are buying?
• What changes do you plan to make?
• Securing finance
• Purchase structure – asset or share purchase
• What you need to pay and when

Speaker:

Atiff Butt Atif is the senior accountant at Hutchings Accountants Ltd and has over 20 years’ experience helping business owners. He specialises in the pharmacy sector and assisting with business transfers.