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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. Finding and financing are separate operations, but the choice of business is clearly restricted by the availability of funds, so it is important to know at an early stage how much capital is available and how much loan, or other finance, can be raised. It could be possible to stay open while the doctor's surgery remains open or to stay open at lunch time. 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.
) This leaves a band of turnover between . They must also have a low level of dispensing. As a rule of thumb, clearing banks will probably lend in the region of 80 per cent of the true value of a business and possibly also the value of the stock, provided you have security. Your solicitor should warn you about all of these potential problems but, in practice, you may need to prompt him or her.
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Also in this group will fall pharmacies adjacent to or within a health centre.
Alternatively another look at the classified section of The Journal may be helpful. Do not automatically be put off a business which appears to be under-performing.
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There may be potential to obtain additional dispensing from nursing homes, or by offering a collection and delivery service. 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.
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. These are normally highly attractive to purchasers because they will dispense upwards of 5,000 prescription items per month and are often sold to those with one or two local pharmacies or, if large enough, to multiples. If the premises are leasehold, ensure that the lease offers enough security of tenure to satisfy your financier. 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.
Kevo Nutygapit  |  December 16, 2009, 7:24 am

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