1 / 12

The Changing Face of Retail Pharmacy

The Changing Face of Retail Pharmacy. Robert Miller. The changing face of Retail Pharmacy. Who we are Robert Miller – Director of HPG Business Sales Lesley Sibley – Pharmacy Sales Manager Agents & Valuers of Pharmacy Businesses and Dental Practices Based in Hertfordshire

carys
Download Presentation

The Changing Face of Retail Pharmacy

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. The Changing Face of Retail Pharmacy Robert Miller

  2. The changing face of Retail Pharmacy Who we are • Robert Miller – Director of HPG Business Sales • Lesley Sibley – Pharmacy Sales Manager • Agents & Valuers of Pharmacy Businesses and Dental Practices • Based in Hertfordshire • We operate throughout England & Wales • Part of Frank Taylor & Associates who have been established since 1988

  3. SWOT Analysis • STRENGTHS • 11,400 community pharmacies • Each day about 1.6 million people visit a pharmacy in England • Approximately 2.7 million items dispensed daily • Strong relationships with customers • Trust • Advice

  4. SWOT Analysis • WEAKNESSES • Dependence on NHS dispensing fees • Supporting traders closing down • Customers being pointed elsewhere by doctors and notices in surgery waiting rooms • Services income under threat as PCT’s put contracts out to tender

  5. SWOT Analysis • OPPORTUNITIES • To increase revenue from services • Raise revenue from treatment rooms using Complementary therapists • Promotion of Healthy Lifestyles • Well stocked medicine counter • Invest in modern shop fittings, shop front & signage - finance is available from FT&A Finance T - 0845 612 3424

  6. SWOT Analysis • THREATS • Competition from distance selling pharmacies • Tariff cuts

  7. Surplus of Pharmacists • There are now more qualified pharmacists than there are positions available. This has lead to a reduction in pharmacists wages. This situation will continue for another 5 years even if university places are reduced this year • Consider employing a 2nd pharmacist for some hours during the week to increase MUR’sand other services. Locum pharmacists with accreditation and good references can be recruited from Locumlink T - 020 8927 0971

  8. Competition • Distance selling pharmacies – these deny patients the opportunity to take advice when receiving their medicines. Not needed in England where 96% of the population can reach a pharmacy within 20 minutes either by walking or public transport. • Dispensing doctors – These practices have unqualified people dispensing drugs and also work on a more favourable financial basis. Pharmacists should call for a level playing field.

  9. Goodwill • The goodwill of retail pharmacies has been very buoyant during the past year with prices reaching 130% of turnover or more in some cases. • If you would like to know the value of your goodwill call me for a free desktop valuation.

  10. GOODWILL examples Pharmacy in home counties with 50:50 NHS to OTC split and high property costs. Turnover £950K – Sale price achieved £925K approx. 97% of turnover 100 hrs. pharmacy in London. Turnover £1.3 million – Sale price achieved £1.175 million approx. 90% of turnover Pharmacy on London/Middx. Borders working 9am to 9pm seven days per week. Turnover £1.2 million – Sale price achieved £1.3 million approx. 108% of turnover

  11. Register today Any pharmacy owner who leaves us their details today and signs a Letter of Instruction before the end of January will receive a 20% reduction in our fees. The usual fee charged is 2.5% of sale price and this offer will reduce this to 2%

  12. Conclusion • If you would like to have a confidential chat about your pharmacy, please contact us. • Directly after this seminar • By telephone on 01707 291824 • By email info@hpgroup.co.uk @HPGSales

More Related