WHY DO YOU CALL YOURSELVES THE PHARMACY PRESERVATION SOCIETY?
Our main objective is to ensure continuity of care to your customer/patients. Your staff are key to this objective. Your customer/patients are loyal to you for good reason, YOU! Our goal is to preserve the successful pharmacy that you have spent years building.
ARE THERE ANY CIRCUMSTANCES UNDER WHICH YOU WOULDN’T RETAIN A PHARMACY’S STAFF?
We certainly haven’t encountered this situation. Perhaps if all the staff wanted to retire but we would attempt to convince them that we would like them to stay. Ultimately if someone wants to leave they will leave.
I HEARD RECENTLY THAT A LOT OF PHARMACY PURCHASE TRANSACTIONS HAVE HAD TROUBLE CLOSING. WHY IS THIS?, AND WHAT MAKES YOU DIFFERENT?
The biggest challenge to closing the purchase of a pharmacy occurs when the buyer needs to get bank or other financing to raise enough cash to pay you (sometimes called a financing condition in an offer to buy your business). As lenders are now being much more careful with the amount of money that they are willing to lend, sellers are often finding that they accept an offer and then are trapped for up to half a year while the buyer attempts to convince lenders to lend the money. And when they cannot, the seller is then forced to go back to buyers half a year later to see if they are still interested. We are increasingly finding that sellers are getting trapped in that circumstance. And understandably buyers are much less willing to work with a seller after they have been rejected before.
At Rx Drug Mart, our transactions are cash and not based upon third party financing—we do not have a financing condition.
WHY DO YOU CALL YOURSELVES RX DRUG MART?
We believe that first and foremost we are a pharmacy that serves our patients—and as such Rx. Our intention is not to be a large store format that focuses primarily on shopping, cosmetics and food products..
HOW DO YOU KEEP THE TRANSACTIONS CONFIDENTIAL?
Integrity is paramount to any transaction. To ensure integrity confidentiality is a must. We have been involved in many transactions for multiple organizations and with many different vendors. We stake our reputations on our integrity which is based upon confidentiality.
WHAT’S THE DIFFERENCE BETWEEN A PURCHASER AND A BROKER?
A Broker is a person or company you contract to sell your pharmacy and for that privilege they charge you a fee. We are not that person or company. We buy, we operate. Nothing else. Working with us means that you do not need to share any of the value you have created with someone else.
HOW LONG WILL THE PROCESS OF PURCHASING MY PHARMACY TAKE?
You are in control of that timeline. You decide how quickly or how slowly you wish to proceed.
Once we have the basic information we can turn around an offer for you in days. And once we both agree on terms, we can generally close in less than two months.
(Of course, because the timeline for college notification is different in each province the exact timeline can change.)
I’D LIKE TO WORK FOR YOU. HOW CAN I MAKE MY DREAM A REALITY?
We’d love to hear from you. Please contact Tom now firstname.lastname@example.org