| net ) has, on average, details of about 100 pharmacies currently on the market, for example. Essential small pharmacies In order to qualify as an essential small pharmacy (ESP), a pharmacy must be at least one kilometre from the nearest pharmacy with a National Health Service contract, so they tend to be in rural locations or residential areas. |
700,000 and, the larger the turnover, the greater the competition and the more likely for a premium price to be achieved. You will probably be taking an assignment of a lease and will therefore need references for the landlord. |
The number of pharmacies that agents can advertise is limited by the size of their advertisements, so browse through the websites, where you will find brief details of all of the businesses they have to sell, with the exception of those where advertising is restricted by the vendor. |
Choose carefully, ensuring that you find one with experience of commercial transactions and preferably conversant with the sale and purchase of pharmacies. |
These schemes are offered by the major wholesalers, but do not forget to talk to the local independent wholesalers as well because they may be just as keen to do business with you. In recent years, larger businesses have become available to first-time buyers due to the support offered by wholesalers. |
| If there are clauses in the lease with onerous repair covenants you would be well advised to have a professional survey carried out to ensure you are not taking on any unforeseen liabilities. |
Here again the vendor's agent will be pleased to advise you on the procedures. |
The agent will be able to advise you of potential sources of finance and how much you are likely to be able to borrow. They must also have a low level of dispensing. |
Alternatively another look at the classified section of The Journal may be helpful. Stocktaking Book a reputable firm of stocktakers to act for you in the transfer stock valuation and go through their documentation thoroughly; it should explain precisely the method they will adopt. |
Our special feature this month looks at the practical, financial and legal aspects of buying a pharmacy business Mr Holland-Brown is Chairman of Orridge Business Sales Limited Although there is risk inherent in buying a pharmacy, it can be minimised by taking appropriate advice and doing plenty of research before making a final decision on what to buy. Sales agency A first-time buyer would be well advised to make contact with an established and reputable specialist pharmacy sales agency. |
| Sales agency A first-time buyer would be well advised to make contact with an established and reputable specialist pharmacy sales agency. If the premises are leasehold, ensure that the lease offers enough security of tenure to satisfy your financier. |
The trend we found particularly interesting is that after a small drop in the number of pharmacies being sold over the whole period, compared with previous years, the number of sales currently in solicitors' hands and due to complete in the second quarter of 2003 is the highest of the last six quarters. |
Different agents and finance houses have different ways of arriving at this figure, which is linked to the return on investment, but they invariably end up close to each other's valuations. |
Your solicitor should warn you about all of these potential problems but, in practice, you may need to prompt him or her. |
This will ensure you get relevant advice and will probably save you money on legal fees.
xanax for cats |
| Some vendors restrict their agent from advertising their pharmacy details, so the only way you will obtain information about these businesses is to speak to the agent. These businesses are often easier to finance than smaller ones and it is not unknown for businesses with annual turnover in excess of . |
Apart from the usual chores of notifying the utility companies and dealing with VAT registration, you must give proper notice to the Royal Pharmaceutical Society and the local health authority. Although the first three months of 2003 have probably been the most uncertain I have known in my 35 years at Orridge, it is interesting to look at the statistics for that period and compare them with 2002 and prior years, remembering that in 2002 we were all aware of the impending OFT report. |
Indeed, if there is any shortage of activity, it is becoming apparent that it is due to the shortage of new businesses coming on the market and not, as might be expected, due to the lack of buyers wishing to commit to acquisitions. There may be potential to obtain additional dispensing from nursing homes, or by offering a collection and delivery service. |
One hundred businesses is a small sample but, taken as a percentage of all trading pharmacies, it is nevertheless a significant percentage of those that changed hands during the period. |
The best of these are usually close to a doctor's surgery and also have a thriving OTC trade. The trend we found particularly interesting is that after a small drop in the number of pharmacies being sold over the whole period, compared with previous years, the number of sales currently in solicitors' hands and due to complete in the second quarter of 2003 is the highest of the last six quarters. |
| Ascertain when the rent reviews take place and, if a review is imminent, try to find out, by talking to neighbouring shop owners and local estate agents, what the new rent is likely to be. |
It is important that they have a local knowledge of your particular area and that you can strike up a good working relationship with them. |
300,000 and . Although the first three months of 2003 have probably been the most uncertain I have known in my 35 years at Orridge, it is interesting to look at the statistics for that period and compare them with 2002 and prior years, remembering that in 2002 we were all aware of the impending OFT report.
i need phentermine something simliar does adipex have ephedra in it |
Similarly, you need to check whether another agent has a client who has insisted on offering his business at an inflated price. It could be possible to stay open while the doctor's surgery remains open or to stay open at lunch time. |
Alternatively another look at the classified section of The Journal may be helpful. As the Office of Fair Trading has made us all too aware, nothing is guaranteed for ever. |