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Pharmacy Finance


  • 1/16/2024

    12 business resolutions for pharmacist-owners in 2024

    The new year – still fresh – presents an opportunity not only to look back at all that was accomplished over the past 12 months, but also to look ahead and set priorities for the new year. That is especially the case if you are preparing to put up your pharmacy for sale within the next five years or so, because that is how long a successful business sale transaction can take in the pharmacy industry.
  • 11/28/2023

    Year-end tax-loss selling for your pharmacy business

    Tax-loss selling is an investment strategy that can lower your tax bill. Interested in knowing more? Does this apply to your pharmacy business? Read on. This investment strategy kicks in when you sell a stock for a capital loss, so that you can use the loss to offset realized capital gains with a view to reducing the tax you ultimately pay.
  • 11/14/2023

    Selling your pharmacy? Win the mental game first

    Many pharmacist-owners sell their companies and then find something in their lives is missing. They might have dreamed of retirement for a long time as a nirvana of comfort and leisure, but the reality turns out to be something different, and disappointing. The truth is, retirement can be difficult, even if you have a tidy nest egg that will support you and your loved ones for the rest of your life.
  • 10/31/2023

    From pharmacy owner to investor – the mindset change you need post-exit

    To protect and grow a large sum of money like the one you (hope to) receive from the sale of your pharmacy business, you need to have a completely different mindset. After you sell, you are no longer an entrepreneur or business-builder. You are an investor. And making a successful transition from owner to investor means changing the way you think about your wealth.
  • 9/28/2023

    Someone wants to buy your pharmacy. Now what?

    Selling a pharmacy is a big life event, and it will impact your financial and emotional well-being for a long time to come. It is not a decision to be taken lightly, no matter how flattered you might be. So, if a buyer comes calling, step back and take a breath. Let the first flush of emotion pass.
  • 9/26/2023

    5 key steps to sell your pharmacy

    Selling a pharmacy can be a complicated, even daunting process. Legalese and accounting terms can get thrown around like spaghetti in a food fight, and even the most business-savvy pharmacist-owners can sometimes feel like they are caught in a tempest over which they have little control.
  • 8/8/2023

    Using life insurance in your pharmacy estate planning

    Life insurance is often used as a solution to problems and needs identified in the estate planning process. Here we three estate planning strategies pharmacy business owners should consider that include life insurance: estate preservation; estate equalization; and business succession planning.
  • 7/4/2023

    The pharmacy sale cycle: strategic wealth planning for pharmacist-owners

    Selling a pharmacy business is usually the biggest liquidity event of a pharmacist-owner’s life. Yet, in our experience advising pharmacist-owners, how they will integrate the proceeds of a business sale into their long-term financial planning is often something of a grey area.
  • 6/27/2023

    Looks aren't everything...but they sure can help sell your pharmacy

    If you are selling your pharmacy business and want to maximize its value on the market, appearances matter. A store that is neat, organized and clean tells prospective buyers not only that they will have to spend less time getting it in working order, but also that you, the seller, have cared for your facilities, kept them in tip-top shape, and put the effort into not leaving a messy headache for the next owner.
  • 6/13/2023

    Accounting mistakes to fix now: a primer for your pharmacy

    The good news is that most, if not all, of these mistakes are easily avoidable or – if you are currently making them – fixable. Yet remember: when you are thinking of selling your pharmacy, time is not your friend when it comes to getting your books in order.
  • 5/16/2023

    Accounting mistakes, Part 4: Accounting gaffes round-up – the final five

    In previous articles, we looked at a few common types of accounting errors, from improper inventory record-keeping to inappropriate accounting for capital and staff expenses. But there are many other gaffes we have seen occur during our years supporting pharmacist-owners who want to sell their businesses.
  • 5/9/2023

    How to account for commercial terms payments – the right way

    Solid accounting practices are fundamental to enhancing and preserving the value of your pharmacy business. The converse, of course, is also true: bad accounting can undermine pharmacist-owners' ability to sell their pharmacy when, how and for how much they hope to.
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