THIS week's contributor is Greg Aspeling, Owner, gaps.solutions: Will you be my partner - An option for the first time pharmacy buyer.....consider a partnership! Easier said than done. BUT, it is an option worth investigating. The rate of enquiry appears to have increased lately. It may have something to do with the tightening of funding.
More and more brands are expanding their network. They recruit from within, however, sometimes they need to outsource. The lack of willingness of candidates to move to rural areas is also another issue. Therein lies opportunity.
I was recently asked to source a working partner for a group. I received many enquiries. Three suited the criteria. I requested the candidates forward their resume. To be honest, I was extremely surprised by the lack of quality of two of those resumes. Strike one. You have to sell yourself. Have someone write a professional resume.
Buying a partnership is just like buying a pharmacy. You need to do all the things you would normally do when buying a pharmacy. Most importantly you need legal representation. There could be a lot in play: shareholdings, if an entity, your obligations in terms of their obligations and more.
Buying a partnership is like dipping your toe in the water. It's a trust exercise.
The above article was sent to subscribers in Pharmacy Daily's issue from 19 Mar 18
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