These days, selling a business is harder than ever and the main reason is competition. Take control of the process and ensure that your business is being sold to the ‘best’ and most qualified buyer.
While I am optimistic about the general future of pharmacy, it must be remembered that the three fundamental economic laws of pharmacy remain:
1. There is no such thing as an “average” pharmacy — every pharmacy is different.
2. Gross margins will continue to decline.
3. Pharmacy is losing retail market share and is increasingly reliant on prescription (scheduled medicine) sales.
These three facts have been a fundamental part of the pharmacy financial landscape for many years, and my previous columns in Pharmacy News have graphically and mathematically illustrated...
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