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Should I buy a Going Buisness?

Is it better to buy an established pharmacy or to start your own? The answer to this question depends on yourself and the resources and opportunities available to you:

Some of these questions have already been addressed in an existing pharmacy. Is that a better choice for you?

That depends on these factors, some of which are particular to the pharmaceutical industry:

These factors can help a buyer avoid some of the uncertainty inherent in starting a new business. But it comes at a cost which can be difficult to quantify and therefore justify. How do you put a price on something as subjective as a reputation? Also, the down payment and loan required for this is often more than a first-time owner is able to pay or lend.

The alternative is to open a new pharmacy, which has its own list of pros and cons:

Unless you already have considerable experience with running a pharmacy, buying an established business is probably your best bet, assuming this is financially possible. Opening a new pharmacy is easier for someone who already owns one or more pharmacies, since the costs can be financed through the profits of the existing business(es), while relying on credit from existing relationships with wholesalers and suppliers. Another option is to open a franchise for some this is the best of both worlds: the familiarity and experience of a brand combined with the freedom of independent practice. But, again, this choice depends on so many variables each situation has to be judged on its own merits. Do your due diligence and be realistic. This is where the pharmacy brokerage Aventine Group can save you considerable amounts of money and stress. Make use of our experience to guide you through the minefield of options and regulations!

 

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