UBC Phar400-startup or buy pharmacy-28oct2011Gerry Spitzner
The document discusses various factors to consider when starting or purchasing a pharmacy business, including:
- The advantages and disadvantages of purchasing an established pharmacy versus starting new.
- Important factors to consider before actively searching such as capital requirements and location analysis.
- Key tasks for prospective owners like developing a business plan and obtaining necessary licenses.
- Types of pharmacy models like corporate, franchise, banner, and independent.
- Important considerations for leasing agreements and rent calculations.
This document provides an overview of key considerations for establishing or purchasing a pharmacy business. It discusses factors like location analysis, lease agreements, capital requirements, purchasing an existing business versus starting a new one, and tasks involved in both options. The document is a guide for prospective pharmacy owners on important business and operational aspects to evaluate in starting or buying a pharmacy practice.
The document outlines an 8-step proactive acquisition search process to help clients successfully acquire businesses. It begins with preparation, then locating and selecting target businesses not actively on the market. The process involves direct outreach, evaluations, negotiations and closing assistance. The service aims to increase odds of acquiring a suitable business within 4-6 months that better meets goals than reactive listings.
Small Business BC-retail distribution-26jan2012Gerry Spitzner
Workshop/seminar on moving your product line to retail market. Designed for importers and suppliers on how to approach retailers, methods retailers use to list products, and an overview of the logistics and retail supply chain. Updated Jan 2012
Small Business BC-Retail Distribution-Oct2010Gerry Spitzner
Gerry Spitzner provides a presentation on retail distribution and how to move a product line to market. The presentation covers purchasing methods, distribution channels, what buyers look for in suppliers and products, pricing, marketing plans, and insights into retailers. It aims to help small businesses understand how to approach retailers and get their products carried successfully.
The document discusses human resources management and labor laws in British Columbia. It addresses topics like managing HR processes, treating employees as investments, communication skills, leadership qualities, an overview of key BC labor laws regarding employment standards, human rights, occupational health and safety, workers compensation, and privacy laws. The document provides information on discrimination, harassment, recruiting and selecting employees, and filing complaints to help employers understand and comply with their legal obligations.
UBC Phar400-startup or buy pharmacy-28oct2011Gerry Spitzner
The document discusses various factors to consider when starting or purchasing a pharmacy business, including:
- The advantages and disadvantages of purchasing an established pharmacy versus starting new.
- Important factors to consider before actively searching such as capital requirements and location analysis.
- Key tasks for prospective owners like developing a business plan and obtaining necessary licenses.
- Types of pharmacy models like corporate, franchise, banner, and independent.
- Important considerations for leasing agreements and rent calculations.
This document provides an overview of key considerations for establishing or purchasing a pharmacy business. It discusses factors like location analysis, lease agreements, capital requirements, purchasing an existing business versus starting a new one, and tasks involved in both options. The document is a guide for prospective pharmacy owners on important business and operational aspects to evaluate in starting or buying a pharmacy practice.
The document outlines an 8-step proactive acquisition search process to help clients successfully acquire businesses. It begins with preparation, then locating and selecting target businesses not actively on the market. The process involves direct outreach, evaluations, negotiations and closing assistance. The service aims to increase odds of acquiring a suitable business within 4-6 months that better meets goals than reactive listings.
Small Business BC-retail distribution-26jan2012Gerry Spitzner
Workshop/seminar on moving your product line to retail market. Designed for importers and suppliers on how to approach retailers, methods retailers use to list products, and an overview of the logistics and retail supply chain. Updated Jan 2012
Small Business BC-Retail Distribution-Oct2010Gerry Spitzner
Gerry Spitzner provides a presentation on retail distribution and how to move a product line to market. The presentation covers purchasing methods, distribution channels, what buyers look for in suppliers and products, pricing, marketing plans, and insights into retailers. It aims to help small businesses understand how to approach retailers and get their products carried successfully.
The document discusses human resources management and labor laws in British Columbia. It addresses topics like managing HR processes, treating employees as investments, communication skills, leadership qualities, an overview of key BC labor laws regarding employment standards, human rights, occupational health and safety, workers compensation, and privacy laws. The document provides information on discrimination, harassment, recruiting and selecting employees, and filing complaints to help employers understand and comply with their legal obligations.
The document provides guidance on developing a business plan for a new clinical service, including conducting market research, assessing competitors, determining needed resources, establishing goals and objectives, and documenting the plan. It emphasizes understanding customer needs, developing a value proposition, creating a mission statement, and convincing investors that there is demand for the product or service.
Presentation to 4th year students at UBC Pharmacy in the Phar400 Pharmacy Business Management course. Introduction of basic marketing concepts and how they relate to marketing professional patient services beyond dispensing.
Small Business BC seminar and webinar presentation is about planning and crafting a crucial part of the blue print of the overall business plan including what items to prepare for a meeting with a prospective retail customer.
UBC Phar400-Business Plan Essentials 3Oct2014Gerry Spitzner
Presented to 4th year students at UBC Pharmacy in the Phar400 Pharmacy Business Management course to help them prepare their business plan and pitch presentation for a sustainable patent service.
UBC Phar400-Employment Law & Interviewing 31Oct2014Gerry Spitzner
Overview of Canadian and BC employment law presented to 4th year UBC Pharmacy students. How it relates to the Pharmacy workplace, recruiting and interviewing to help students prepare their mid-term job description assignment.
UBC Phar400-business of pharmacy-14sept2012Gerry Spitzner
The document discusses key aspects of retail pharmacy management. It begins with an introduction and list of objectives. It then covers various topics related to operating a pharmacy retail business such as the people and moving parts involved, types of pharmacy practices, differences between retail pharmacy models, logistics and supply chain management, key controllable areas like inventory, pricing, merchandising and staffing, and future developments and opportunities in the industry. The document also includes a glossary of common acronyms and terms used in retail pharmacy.
The business of pharmacy january 2013 long versionGerry Spitzner
This document provides a high-level overview of pharmacy management in Canada and British Columbia. It discusses key topics such as the types of pharmacies, pharmaceutical logistics and supply chains, the four controllable parts of a retail pharmacy business, and customer experience. It also examines future developments, issues, and opportunities in the pharmacy industry.
Why retailers buy. How to approach retailers. What retailers are thinking about. What retail buyers look for in suppliers. What retail buyers look for in a product. Retail pricing & merchandising. Retail distribution, supply chain & logistics channels.
Your sales & marketing plan
UBC Phar400 Marketing Pharmacy Professional Services-25Oct2013Gerry Spitzner
Presented to 4th year Pharmacy students at UBC Pharmaceutical Sciences in the Phar400 Pharmacy Business Management course.
As part of the curriculum students are required to work in teams to create a new sustainable professional clinical service supported by a business plan. At the end of the semester the teams present in a "pitch" to classmates and a panel of judges. Winners are determined by their peers.
In this fourth presentation of the semester we focus on Marketing healthcare professional services. We define marketing and explain how the marketing concept applies to marketing professional services.
Learning objectives:
>Brand and Branding
>Marketing 101
>Managing the Marketing Mix
>Marketing Pharmacy Professional Services
UBC Phar400 Business of Retail Pharmacy 3.0 11Sept2015Gerry Spitzner
This document provides an overview of retail community pharmacy management. It discusses thought starters on customer experience and operational areas. It outlines different pharmacy formats including corporate, franchise, banner, and independent pharmacies. It also discusses pharmaceutical logistics and supply chains. The document explores future developments, opportunities, and trends for retail pharmacies, including a shift towards payment based on patient outcomes rather than medication volume. It emphasizes the importance of patient services and engagement to leverage pharmacists' role in healthcare.
UBC Phar400 Biusiness of Retail Pharmacy 3.0 23Jan2015Gerry Spitzner
This document provides an overview of retail pharmacy business in Canada and British Columbia. It discusses the different types of retail pharmacy formats including corporate pharmacy, franchise pharmacy, banner pharmacy, and independent pharmacy. It also outlines the complex pharmaceutical supply chain and logistics system. Finally, it addresses key functional areas of retail pharmacy operations and discusses future trends, including a shift toward greater consumer spending on healthcare.
This document discusses the Capital Asset Pricing Model (CAPM) and how it is used to calculate the cost of equity. It defines key terms used in CAPM such as beta, risk-free rate of return, risk premium, required rate of return, and market return. It also provides examples of applying the CAPM formula to calculate the cost of equity for four Indian companies using their respective betas, the risk-free rate, and average market return.
This document provides guidance for developing a business plan for a new clinical service. It begins by discussing the importance of planning and identifying the key components of any system that is being planned for. This includes considering inputs, processes, outputs, and outcomes. It also discusses analyzing the situation, establishing goals and strategies, and assigning responsibilities. The document then discusses sources of new ideas, the need to conduct market research to validate ideas, and how to analyze competitors. It concludes by identifying some initial considerations for the business plan, including determining needs and markets, financial planning, goals, and human resource needs. The overall purpose is to help guide the development and presentation of a strong business plan for a new clinical service idea.
This document discusses employment and labor laws in Canada, with a focus on issues in British Columbia. It addresses the most common areas of employment dispute such as contracts, dismissals, and workplace issues. It provides an overview of key BC employment laws governing the workplace, including the Human Rights Act, Employment Standards Act, labor relations laws, workers' compensation act, and privacy laws. It explains the differences between employment law and labor law. Finally, it discusses managing human resources processes effectively through leadership, communication, and systems.
UBC Phar400 Business Plan Essentials-20Sept2013Gerry Spitzner
The document provides guidance on creating a business plan for a new clinical service. It discusses key elements to address in a business plan, including defining the business concept, establishing goals, identifying the market, determining sales strategies, developing financial projections, and creating an effective presentation. The document emphasizes starting with the end in mind by understanding customer needs and developing a unique value proposition. It also stresses the importance of conducting market research and a competitive analysis to support the business plan.
Presented to 4th year Pharmacy students at UBC Pharmaceutical Sciences in the Phar400 Pharmacy Business Management course.
As part of the curriculum students are required to work in teams to create a new sustainable professional clinical service supported by a business plan. At the end of the semester the teams present in a "pitch" to classmates and a panel of judges. Winners are determined by their peers.
In this third presentation of the semester we review Employment Law and the rules that govern the workplace in Canada and in particular British Columbia.
Learning objectives:
>Human Rights Act and BC Human Rights Code
>Employment Standards Act
>Labour Relations
>Workers Compensation Act
>Personal Information Protection Act (PIPA)
>Employment interviews
The document discusses various considerations for someone wanting to open a community pharmacy, including whether to buy an existing business or start new, location selection, financing, hiring pharmacists, services offered, and competition factors. Key decisions include choosing a business structure, securing an optimal lease, and ensuring sufficient initial funding. Overall community pharmacy ownership remains possible with guidance.
How to Raise Seed Funding for Your Startup: Convertible Notes and SAFEsideatoipo
This document summarizes a presentation about raising seed funding for startups through convertible notes and SAFEs (simple agreements for future equity). It discusses the speaker's background in venture capital law, structural considerations for startups, options for seed financing like convertible debt/equity, key terms to consider, and common mistakes to avoid. The presentation provides an overview of the process for closing a seed round financing and important post-closing tasks.
The document provides guidance on developing a business plan for a new clinical service, including conducting market research, assessing competitors, determining needed resources, establishing goals and objectives, and documenting the plan. It emphasizes understanding customer needs, developing a value proposition, creating a mission statement, and convincing investors that there is demand for the product or service.
Presentation to 4th year students at UBC Pharmacy in the Phar400 Pharmacy Business Management course. Introduction of basic marketing concepts and how they relate to marketing professional patient services beyond dispensing.
Small Business BC seminar and webinar presentation is about planning and crafting a crucial part of the blue print of the overall business plan including what items to prepare for a meeting with a prospective retail customer.
UBC Phar400-Business Plan Essentials 3Oct2014Gerry Spitzner
Presented to 4th year students at UBC Pharmacy in the Phar400 Pharmacy Business Management course to help them prepare their business plan and pitch presentation for a sustainable patent service.
UBC Phar400-Employment Law & Interviewing 31Oct2014Gerry Spitzner
Overview of Canadian and BC employment law presented to 4th year UBC Pharmacy students. How it relates to the Pharmacy workplace, recruiting and interviewing to help students prepare their mid-term job description assignment.
UBC Phar400-business of pharmacy-14sept2012Gerry Spitzner
The document discusses key aspects of retail pharmacy management. It begins with an introduction and list of objectives. It then covers various topics related to operating a pharmacy retail business such as the people and moving parts involved, types of pharmacy practices, differences between retail pharmacy models, logistics and supply chain management, key controllable areas like inventory, pricing, merchandising and staffing, and future developments and opportunities in the industry. The document also includes a glossary of common acronyms and terms used in retail pharmacy.
The business of pharmacy january 2013 long versionGerry Spitzner
This document provides a high-level overview of pharmacy management in Canada and British Columbia. It discusses key topics such as the types of pharmacies, pharmaceutical logistics and supply chains, the four controllable parts of a retail pharmacy business, and customer experience. It also examines future developments, issues, and opportunities in the pharmacy industry.
Why retailers buy. How to approach retailers. What retailers are thinking about. What retail buyers look for in suppliers. What retail buyers look for in a product. Retail pricing & merchandising. Retail distribution, supply chain & logistics channels.
Your sales & marketing plan
UBC Phar400 Marketing Pharmacy Professional Services-25Oct2013Gerry Spitzner
Presented to 4th year Pharmacy students at UBC Pharmaceutical Sciences in the Phar400 Pharmacy Business Management course.
As part of the curriculum students are required to work in teams to create a new sustainable professional clinical service supported by a business plan. At the end of the semester the teams present in a "pitch" to classmates and a panel of judges. Winners are determined by their peers.
In this fourth presentation of the semester we focus on Marketing healthcare professional services. We define marketing and explain how the marketing concept applies to marketing professional services.
Learning objectives:
>Brand and Branding
>Marketing 101
>Managing the Marketing Mix
>Marketing Pharmacy Professional Services
UBC Phar400 Business of Retail Pharmacy 3.0 11Sept2015Gerry Spitzner
This document provides an overview of retail community pharmacy management. It discusses thought starters on customer experience and operational areas. It outlines different pharmacy formats including corporate, franchise, banner, and independent pharmacies. It also discusses pharmaceutical logistics and supply chains. The document explores future developments, opportunities, and trends for retail pharmacies, including a shift towards payment based on patient outcomes rather than medication volume. It emphasizes the importance of patient services and engagement to leverage pharmacists' role in healthcare.
UBC Phar400 Biusiness of Retail Pharmacy 3.0 23Jan2015Gerry Spitzner
This document provides an overview of retail pharmacy business in Canada and British Columbia. It discusses the different types of retail pharmacy formats including corporate pharmacy, franchise pharmacy, banner pharmacy, and independent pharmacy. It also outlines the complex pharmaceutical supply chain and logistics system. Finally, it addresses key functional areas of retail pharmacy operations and discusses future trends, including a shift toward greater consumer spending on healthcare.
This document discusses the Capital Asset Pricing Model (CAPM) and how it is used to calculate the cost of equity. It defines key terms used in CAPM such as beta, risk-free rate of return, risk premium, required rate of return, and market return. It also provides examples of applying the CAPM formula to calculate the cost of equity for four Indian companies using their respective betas, the risk-free rate, and average market return.
This document provides guidance for developing a business plan for a new clinical service. It begins by discussing the importance of planning and identifying the key components of any system that is being planned for. This includes considering inputs, processes, outputs, and outcomes. It also discusses analyzing the situation, establishing goals and strategies, and assigning responsibilities. The document then discusses sources of new ideas, the need to conduct market research to validate ideas, and how to analyze competitors. It concludes by identifying some initial considerations for the business plan, including determining needs and markets, financial planning, goals, and human resource needs. The overall purpose is to help guide the development and presentation of a strong business plan for a new clinical service idea.
This document discusses employment and labor laws in Canada, with a focus on issues in British Columbia. It addresses the most common areas of employment dispute such as contracts, dismissals, and workplace issues. It provides an overview of key BC employment laws governing the workplace, including the Human Rights Act, Employment Standards Act, labor relations laws, workers' compensation act, and privacy laws. It explains the differences between employment law and labor law. Finally, it discusses managing human resources processes effectively through leadership, communication, and systems.
UBC Phar400 Business Plan Essentials-20Sept2013Gerry Spitzner
The document provides guidance on creating a business plan for a new clinical service. It discusses key elements to address in a business plan, including defining the business concept, establishing goals, identifying the market, determining sales strategies, developing financial projections, and creating an effective presentation. The document emphasizes starting with the end in mind by understanding customer needs and developing a unique value proposition. It also stresses the importance of conducting market research and a competitive analysis to support the business plan.
Presented to 4th year Pharmacy students at UBC Pharmaceutical Sciences in the Phar400 Pharmacy Business Management course.
As part of the curriculum students are required to work in teams to create a new sustainable professional clinical service supported by a business plan. At the end of the semester the teams present in a "pitch" to classmates and a panel of judges. Winners are determined by their peers.
In this third presentation of the semester we review Employment Law and the rules that govern the workplace in Canada and in particular British Columbia.
Learning objectives:
>Human Rights Act and BC Human Rights Code
>Employment Standards Act
>Labour Relations
>Workers Compensation Act
>Personal Information Protection Act (PIPA)
>Employment interviews
The document discusses various considerations for someone wanting to open a community pharmacy, including whether to buy an existing business or start new, location selection, financing, hiring pharmacists, services offered, and competition factors. Key decisions include choosing a business structure, securing an optimal lease, and ensuring sufficient initial funding. Overall community pharmacy ownership remains possible with guidance.
How to Raise Seed Funding for Your Startup: Convertible Notes and SAFEsideatoipo
This document summarizes a presentation about raising seed funding for startups through convertible notes and SAFEs (simple agreements for future equity). It discusses the speaker's background in venture capital law, structural considerations for startups, options for seed financing like convertible debt/equity, key terms to consider, and common mistakes to avoid. The presentation provides an overview of the process for closing a seed round financing and important post-closing tasks.
7.23.20 How to Raise Seed Funding for Your Startup: Convertible Notes and S...ideatoipo
Seed financings enable a startup to put together its initial team, build a working prototype, and begin to test the market. Often these investments are made via convertible debt or SAFEs. Veteran Silicon Valley startup and corporate attorney Jason Putnam Gordon will cover the following topics:
1. Required corporate structure
2. Legal considerations when pitching investors for seed financing
3. Differences between using convertible debt and SAFEs
4. Key terms and considerations when raising seed funding
5. Common mistakes and pitfalls that companies make when raising seed funding via convertible debt and SAFEs
6. How to close your seed financing
7. Important post-closing tasks
8. And much, much more
Come with your questions and get ready to be excited about seed financings!
.
About the Speaker
Jason Putnam Gordon is a results-oriented corporate attorney practicing in the Venture Capital and Emerging Growth Companies group in Polsinelli’s San Francisco office. Jason has a passion for working with experienced entrepreneurs and executives to make their vision a reality.
In his practice, he regularly represents companies throughout their life cycle in matters related to venture capital financing, strategic corporate relationships, corporate formation, complex mergers and acquisitions, sales, and divestitures. With industry focuses on consumer goods and technology, because of his broad skill set and deep network, Jason regularly works in wide array of verticals including artificial intelligence, virtual reality, augmented reality, video games, software, hardware, life sciences, the internet of things and agricultural technology.
Jason works with companies based locally, elsewhere in the U.S. and internationally. Jason brings a unique skill set to the negotiating table and to litigation-minimization strategies in the board room. He started his career as a federal law clerk in the United States District Court for the Eastern District of Pennsylvania and then continued as a litigator handling corporate, securities, intellectual property, and commercial litigation before establishing a transactional practice.
Outside of the office, Jason is dedicated to his family and has a passion for skydiving and indoor body flight.
If you have any questions regarding the content of this presentation, you can reach Jason at:
JGordon@polsinelli.com
How to Structure Venture Capital Term Sheets for a Win-Win Deal ideatoipo
T 4/13/21 How to Structure Venture Capital Term Sheets for a Win-Win Deal
7 PM to 8:30 PM Pacific Time (Online)
https://www.meetup.com/Silicon-Valley-Startup-Idea-to-IPO/events/276787604/
Eber Devine: Being an entrepreneur is not less than a challenge. A leader has to wear so many hats and need to take so many responsibilities. Therefore, building or signing a contract required a lot of knowledge and attention. This is where you need a business lawyer who can take responsibility and protect your entity legally.
How business continuation planning could help preserve your business by providing a smooth transition of ownership and control.
Family-owned businesses are the backbone of the American economy. Yet many small-business owners make a costly mistake: They have no business continuation plan. This leaves the future of their businesses to chance.
This webinar is critical for entrepreneurs who will be raising a preferred round in the near future. This webinar is designed to teach you what to expect when your company sells preferred stock in a venture round.
During this webinar, veteran Silicon Valley venture capital attorney Jason Putnam Gordon will cover the following topics:
· What venture capitalists are looking for when they invest in a company
· What makes a company a potential investment for a venture capital fund
· Pre-round issues
· What makes a good investor and how to find them
· How to negotiate a term sheet
· The deal documentation
· The diligence process
· Closing issues
· Post-closing issues
· Common pitfalls when raising venture capital
· And much, much more
Roadmap to Selling a Business or Taking on Outside InvestorsFinancial Poise
Part of the webinar series: BUSINESS ADVICE - FROM STARTUP TO SALE 2021
A Startup is the Founders’ baby - they dream it, created it and worked tirelessly to make it successful. Deciding it may be time to sell all or part is the easy part - acknowledging and addressing the financial and emotional issues can be challenging.
Negotiating with potential buyers or investors is time intensive, to say the least. Positioning a business for a value maximizing transaction requires planning. What professionals need to be engaged? How do the parties come to a valuation? What is the profile of the likely investor or buyer? These are just some of the questions this webinar addresses.
How to Prepare Your Startup for an M & A Exitideatoipo
You've labored for years on your startup and now it's time for an exit. Lack of sufficient preparation will lower the valuation of the company and may even kill your deal. San Francisco-based startup and venture capital attorney Jason Putnam Gordon of Polsinelli LLP will discuss how to properly prepare your startup for an M&A exit.
The program will cover the following:
Pre-M&A process
Parallel tracking additional capital raises
Overview of valuations and why you care
Liquidation waterfalls
Basic deal structures
Letters of Intent and Term Sheets
The diligence process
Negotiating the definitive agreements
The closing process
Post-closing issues
Common pitfalls and deal-killing mistakes
And much, much more!
Buying a Small to Medium-Sized BusinessJames Price
A good business purchase is about planning and ensuring you have plenty of information to base decisions on, rather than rushing in and letting emotions take over.
In this eBook James shares the JPAbusiness Buyer's Checklist, the 3 core focus areas of the Due Diligence process, a Due Diligence Checklist, and advice on Managing the Risks of a Business Purchase.
This document discusses factors to consider when selecting a business venture, including proximity to raw materials and markets, availability of infrastructure, economic policies, demographics of target customers, industrial clusters, export processing zones, and free trade zones. It emphasizes the importance of locating a business near suppliers and customers to reduce costs and make it easy for customers to access products. Government policies, taxes, and the characteristics of the local population are also important to evaluate for different types of businesses.
This document provides an overview of important considerations for purchasing an existing business. It discusses evaluating different types of businesses, conducting due diligence, determining a fair purchase price, and completing the transaction. The key steps are researching business options, qualifying for financing, analyzing a potential target business thoroughly, making an offer, and closing the deal with proper legal documentation. Consulting experts can help navigate the process successfully.
This document provides 10 tips for business owners to prepare their private business for sale. The tips include: 1) making yourself redundant from business operations before the sale, 2) focusing on profitability and value enhancements well in advance, 3) looking for cost efficiencies like removing unnecessary assets, 4) implementing strong financial controls and processes, 5) reducing customer concentration, 6) articulating a clear growth vision, 7) providing a realistic financial forecast, 8) addressing any family issues, 9) properly managing working capital to free up cash, and 10) seeking professional advice from accountants, lawyers, and M&A advisors. Thorough preparation across these areas will help business owners achieve the highest possible valuation.
This document discusses the importance of business continuation planning through a buy-sell agreement to protect a business in the event of the owner's death, disability, or retirement. It outlines the key reasons to have a buy-sell agreement, including establishing the business's value, ensuring a smooth transition of ownership, and providing funds to pay estate taxes. The document also describes different types of buy-sell agreements and funding options, and stresses that a properly drafted agreement can save thousands in taxes and litigation costs.
This document discusses the importance of business continuation planning through a buy-sell agreement to protect a business in the event of the owner's death, disability, or retirement. It outlines the key benefits of a buy-sell agreement such as pre-determining ownership transfer, setting a fair purchase price, and providing funds to pay estate taxes. The document also notes that without a proper succession plan, a business could face problems like lost customers or disagreements that threaten the business's survival.
The document discusses developing a personal brand and value proposition for job searching. It recommends defining who your target audience is, how you can help them, and what makes you different. It also discusses developing a personal value proposition by focusing on your strengths and tying them to your target position. Additionally, it addresses the importance of networking by focusing on helping others and introducing people.
How to Position Your Startup for VC Fundingideatoipo
During this webinar, you will learn the basics of the venture model and path along with the necessary steps to take so that your company’s legal structure is an attractive investment. The discussion will cover:
1. Why a Delaware C-Corp is the most-common structure
2. How to document the relationship of the founders and early employees
3. The typical funding stages of a successful startup
4. An overview of convertible debt and SAFEs
5. Why it’s critical to run pro forma cap tables before financings
6. What happens in a venture financing
7. Why compliance with securities laws is important
8. Common legal mistakes in raising capital
9. And much, much more
Come with your questions and get ready to be excited about venture funding!
This document summarizes a seminar about buying and valuing privately held businesses. The seminar discusses factors that affect business value, maintaining confidentiality during sales, financing issues, and goals to reach win-win scenarios for buyers and sellers. The presenter, Joseph Harrel, has experience buying, operating, and selling his own business and now helps others through business brokerage. Key points include properly evaluating businesses, understanding tax considerations, maintaining confidentiality in negotiations, and taking steps to minimize risk such as due diligence and professional advice.
Similar to UBC Phar400-startup or buy pharmacy-23mar2012 (20)
Small Business BC Retail Distribution-09Dec2013Gerry Spitzner
The document provides an overview of key considerations for small businesses selling products to retailers. It discusses topics such as understanding the retailer's perspective, how to approach retailers, what retailers look for in suppliers and products, retail pricing and distribution channels, common retail terminology, and creating an effective sales and marketing plan for retailers. The document emphasizes learning about the retailer's business, customers, and priorities; keeping presentations simple; focusing on the value provided to the retailer; and being prepared to address retailer needs and objections.
UBC Phar400 Business of Retail Pharmacy-13Sept2013Gerry Spitzner
This document provides an overview of the retail pharmacy business in Canada and British Columbia. It discusses the different types of pharmacies, including corporate, franchise, banner, and independent. It also examines the pharmaceutical supply chain and logistics, the key controllable aspects of a retail pharmacy like inventory, pricing, and staffing. The document notes several future trends for the industry like an enhanced role for pharmacists, an aging population, and increasing demand for pharmacy services. It predicts ongoing reimbursement challenges and the need for change management skills.
Small Business BC Retail Distribution-3Jun2013Gerry Spitzner
Have you developed a product that you are ready to distribute to the retail market but not sure where to start?
Attend this seminar and let Gerry Spitzner use his 40 years of retail experience to help you plan your sales strategy with potential retailers.
Learning Objectives:
>Discover how to structure sales calls to retailers, with the best results.
>Understand the methods retailers use to decide what products they will buy for their stores.
>Find out the common challenges retailers face; how and why they buy.
>Uncover the cardinal rules you should follow when making your first sales pitch to a prospective client
>Learn the terminology, technology and measurements retailers use to decide which products will make the cut.
>Find out how merchandising and pricing works in both chain and independent retailers.
>Discover the logistics and supply chain systems of getting products to the retailers’ door.
Small Business BC Retail Distribution-18Apr2013Gerry Spitzner
Have you developed a product that you are ready to distribute to the retail market but not sure where to start?
Attend this seminar and let Gerry Spitzner use his 40 years of retail experience to help you plan your sales strategy with potential retailers.
Learning Objectives:
>Discover how to structure sales calls to retailers, with the best results.
>Understand the methods retailers use to decide what products they will buy for their stores.
>Find out the common challenges retailers face; how and why they buy.
>Uncover the cardinal rules you should follow when making your first sales pitch to a prospective client
>Learn the terminology, technology and measurements retailers use to decide which products will make the cut.
>Find out how merchandising and pricing works in both chain and independent retailers.
>Discover the logistics and supply chain systems of getting products to the retailers’ door.
Small Business BC Retail Distribution-7feb2013Gerry Spitzner
Have you developed a product that you are ready to distribute to the retail market but not sure where to start?
Attend this seminar and let Gerry Spitzner use his 40 years of retail experience to help you plan your sales strategy with potential retailers.
Learning Objectives:
>Discover how to structure sales calls to retailers, with the best results.
>Understand the methods retailers use to decide what products they will buy for their stores.
>Find out the common challenges retailers face; how and why they buy.
>Uncover the cardinal rules you should follow when making your first sales pitch to a prospective client
>Learn the terminology, technology and measurements retailers use to decide which products will make the cut.
>Find out how merchandising and pricing works in both chain and independent retailers.
>Discover the logistics and supply chain systems of getting products to the retailers’ door.
The document summarizes key Canadian employment and labor laws, including the main areas they govern. It discusses the Canadian Human Rights Act, Employment Standards Act, labor relations law, Workers Compensation Act, and Personal Information Protection Act. It notes that these laws establish minimum employment conditions and protect employees from discrimination. The document is intended to provide a general overview of the legal issues around human resources management in British Columbia.
Small Business BC-retail distribution-26 nov2012Gerry Spitzner
Have you developed a product that you are ready to distribute to retail market but not sure where to start?
Learning Objectives:
• Discover how to structure sales calls to retailers, with the best results.
• Understand the methods retailers use to decide what products they will buy for their stores.
• Find out the common challenges retailers face; how and why they buy.
• Uncover the cardinal rules you should follow when making your first sales pitch to a prospective client
• Learn the terminology, technology and measurements retailers use to decide which products will make the cut.
• Find out how merchandising and pricing works in both chain and independent retailers.
• Discover the logistics and supply chain systems of getting products to the retailers’ door.
Small Business BC-retail distribution-09oct2012Gerry Spitzner
Workshop/seminar on moving your product line to retail market. Designed for importers and suppliers on how to approach retailers, methods retailers use to list products, and an overview of the logistics and retail supply chain. Updated Oct2012.
The document discusses several key areas of employment and labor law in British Columbia, including human rights legislation, employment standards, labor relations, occupational health and safety laws, and privacy laws. It provides an overview of the relevant acts and codes, highlights important considerations for employers, and notes the different agencies responsible for administering the laws.
The Most Inspiring Entrepreneurs to Follow in 2024.pdfthesiliconleaders
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The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...APCO
The Radar reflects input from APCO’s teams located around the world. It distils a host of interconnected events and trends into insights to inform operational and strategic decisions. Issues covered in this edition include:
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3. Overview of key points to consider when
establishing a new practice.
Business plan outline for buying an
established Pharmacy.
retailSOS.ca Gerry Spitzner 3
4. Advantages and disadvantages of purchasing
an established Pharmacy vs starting a new
Pharmacy.
Important factors before you start actively
searching to establish new or purchase.
Explain factors important in leasing & rent
calculation.
retailSOS.ca Gerry Spitzner 4
5. Capital requirements for establishing a
Pharmacy and possible sources of capital.
Factors important in performing a Pharmacy
location analysis and analysis of potential
markets.
retailSOS.ca Gerry Spitzner 5
6. What, Who and Where Do I start?
Key Tasks for the Prospective Owner
Reasons for Wanting a Franchise Pharmacy
Opening a New Pharmacy
Purchasing an Established Pharmacy
retailSOS.ca Gerry Spitzner 6
7. This packet of thought starters is
just that; a starting point.
Let your mind wander and consider
establishing a new practice or
taking over an existing one.
retailSOS.ca | Gerry Spitzner 7
8. What‟s your BIG idea?
What is your why?
How will you benefit?
Is this right for me; right now? Are you ready?
◦ It takes time, commitment, a good idea, the right
personality and at least a few basic business skills to start
and run a small business successfully.
retailSOS.ca Gerry Spitzner 8
9. The BIG question...
Start up a new independent practice, or
purchase an established Pharmacy?
Franchise, banner or independent?
“Full mix” drug store, Health Centre or simply
Pharmacy?
retailSOS.ca Gerry Spitzner 9
11. Pharmacy set-up support and type of pharmacy
◦ Corporate Pharmacy retail stores
(employee or owned and operated by the licensed “associate-
owner”, closely related to franchise, “manager” of a chain
Pharmacy)
◦ Franchise Pharmacy
(independently owned and operated, sharing in benefits,
buying group, sales/promotions, contracts)
retailSOS.ca Gerry Spitzner 11
12. Pharmacy set-up support and type of pharmacy
◦ Banner Pharmacy
(independently owned and operated, working together, buying
group, sales/promotions, contracts)
◦ Wholesaler
(independently owned and operated, shareholder in
wholesale, buying group, working together)
◦ Independent Pharmacy
(independently owned and operated)
retailSOS.ca Gerry Spitzner 12
13. What departments and products?
◦ Consider location, clientele, age, mix, income levels, education,
health providers nearby, other retail stores, etc.
◦ Alternative medicines, vitamins, OTC‟s, orthotics and mobility aids,
wound care, private consultations, cosmetics, electronics, food and
groceries, post office, greeting cards, books and magazines, etc.
What professional services?
◦ Consultations, Medication Management, Education, Counseling,
Disease state screening, Chronic disease management,
Immunization, Refill services, delivery services, blister packing, LTC,
Group homes, other
retailSOS.ca Gerry Spitzner 13
14. Where do I start?
What do I need?
retailSOS.ca Gerry Spitzner 14
15. Hard skills
◦ Knowledge of Leasing
◦ Negotiation Skills
◦ Fundamentals of Financing and Accounting
◦ Project management
Soft Skills
◦ Insights into complexity of issues involved in leading change
◦ Recognize your personal values and define work/life balance
◦ Cultivate a calm, clear mind even in times of stress
◦ Lead strategic change initiatives
retailSOS.ca Gerry Spitzner 15
16. Create your team of experts
◦ So you can do what you do best and they can do
what they do best
The first three people you need
◦ Lawyer; with Employment Law and/or leasing experience
◦ Accountant; with Tax Planning experience
◦ and a Banker; preferably with Pharmacy accounts
retailSOS.ca Gerry Spitzner 16
17. Create your team of experts
The next person you need
◦ Mentors and advisors
Then you need (if starting new)
◦ Commercial real estate agent
◦ A great general contractor that can get and keep the trades
focused
Then you need (if purchasing)
◦ Business broker
retailSOS.ca Gerry Spitzner 17
18. 1. Develop a Business Plan
◦ This is an essential step and critical for the planning and viability of
your business.
2. Have you undertaken extensive market research?
◦ Market research is a vital part of your Business Plan, including
creating a viability report (Market Feasibility Study)
3. Do you need additional financing?
◦ Banks and other lenders or investors will require a written business
plan
4. Consider and select the most appropriate structure to
operate your business
◦ Partnership Agreement if applicable and Corporation
retailSOS.ca Gerry Spitzner 18
19. 5. Submit your business name request (NR) for approval
◦ Recommend that you conduct a domain name search and put a hold
◦ Also recommend: contact CPBC; ask for clearance of business name
6. Incorporate your business either through a lawyer or
yourself online
◦ Corporations are automatically assigned a Business Number (BN) for
corporate income tax purposes
◦ As soon as you get the Incorporation documents send copy to CPBC
7. Review Pharmacy Licensure Guide from CPBC
8. Open a business bank account
◦ Visit your financial institution with a copy of your Business Registration
Certificate
retailSOS.ca Gerry Spitzner 19
20. 9. Register the domain name of company
10. Open accounts under your Business Name (BN) as
required for payroll, GST/PST (HST).
◦ You MUST open a GST/PST/HST account if your sales are
greater than $30K
11. Contact your municipality for a business license
◦ Need this to apply for a Pharmacy License
12. Determine whether there are any further licenses
or regulations that apply to you or your business
retailSOS.ca Gerry Spitzner 20
21. 1. As a Corporation, you must register your business
for workers compensation
◦ Call WorkSafe BC
2. Open a Payroll Deductions Account under your BN
which was provided with your business as part of
incorporation
◦ Contact CRA
3. If you hire employees ensure you‟re aware of your
requirements under the Employment Standards Act
retailSOS.ca Gerry Spitzner 21
22. Your Lawyer and Accountant
◦ You MUST keep detailed and accurate records for both your
corporation and year end accounting
Your Bookkeeper
◦ Detailed employee files and records
◦ Cash and credit card receipts
Prescription records
◦ Hard copy storage and record keeping requirements
retailSOS.ca Gerry Spitzner 22
23. Key Tasks for the Prospective Owner
retailSOS.ca Gerry Spitzner 23
24. 1. Identify available pharmacies for sale or
suitable locations for a new one
2. Leasing Agreements
3. Determine a satisfactory purchase price
4. Evaluate and determine capital needs
5. Investigate & select best source of capital
retailSOS.ca Gerry Spitzner 24
25. Location Analysis is a Hierarchal decision…
◦ Region – Lower Mainland, Okanagan, the Island
◦ Market Area – West Van, Kelowna, Comox
◦ Trading Area – Caulfield, Glenmore, Comox “downtown”
◦ Site – specific location
Location Analysis
◦ Location is the most important factor; “traffic” is the key
◦ Very difficult and expensive to re-locate
◦ You don‟t want to be “one block away from success”
◦ Doc‟s and/or nearby clinics
◦ Parking, Signage, Visibility
retailSOS.ca Gerry Spitzner 25
26. Location isn‟t…
◦ Customers may drive further to a Pharmacy they
perceive having:
Better prices
Better service & services
Better selection of merchandise
Better amenities; such as private counseling area etc.
Better hours
retailSOS.ca Gerry Spitzner 26
27. Leasing
◦ Most Pharmacies lease (rent) their space
◦ Common is 5 years plus an option to renew for 5 years
◦ Once you sign you are obligated!
◦ Before you sign is the time to negotiate
◦ If you are purchasing an existing biz-need to get an
assignment from landlord; usually this is a “subject to”
clause
retailSOS.ca Gerry Spitzner 27
28. Leasing Agreements
◦ “Offer to lease” vs. “Lease”
“Offer” is starting point where both parties negotiate lease terms
Landlords have a standard “Offer” form.
It is at this point you try to drive your best bargain/value.
“Offer” usually includes “Sunset clause” – date by which lease
must be signed or null and void.
A “lease” is a written legal document. Verbal lease does not exist.
A “lease” specifies what the lessor (landlord) will provide and
what the lessee (you) will do and pay.
retailSOS.ca Gerry Spitzner 28
29. Leasing terminology
What is "Base rent"?
◦ Base rent refers to the minimum or base amount of rent as set out in the
lease excluding percentage rents or any other additional or operating
costs.
What is a "percentage lease"?
◦ A percentage lease refers to a specific type of rental arrangement that
applies mainly to retailers, especially in shopping centres or multiple-
tenant malls.
◦ In a percentage lease, the tenant pays a fixed or base rent plus a
percentage of gross income. To create this type of rental arrangement,
the tenant pays "Base Rent plus % of Gross Profits".
retailSOS.ca Gerry Spitzner 29
30. Leasing terminology
What are "triple-net leases"?
◦ Triple-net leases are the most common form of commercial lease.
◦ They can be used for retail, warehouse and industrial properties.
◦ The tenant is responsible for all of the costs of operating the building
(including taxes, insurance and repairs and maintenance) in a triple-
net lease.
What are “CAM” costs?
◦ Common area and maintenance costs; usually in a shopping centre
lease.
retailSOS.ca Gerry Spitzner 30
31. Leasing Costs
◦ Downtown Vancouver/Victoria – YIKES!!!
◦ Langley/Surrey - $25 – $30/sq ft triple net plus CAM
◦ New locations/escalating construction costs
◦ Rural locations/old buildings; $12 – $25/sq ft
Leasing example
◦ Store “footprints” vary
◦ Dispensary only; 1-2000 sq ft
◦ Taxes and CAM can be $5 - $8/sq ft
◦ So, a 2K sq ft store @ $30/ft plus $5
2000 x 30=$60,000/year
2000x 5=$10,000/year
Total lease cost is $70,000/12=$5,833/month
retailSOS.ca Gerry Spitzner 31
32. Desirable lease clauses
◦ Sublet clause – if excess space or for doc‟s
◦ Signing incentive; first month free while setting up
◦ Leasehold improvements clause
Often you get just the bare walls/floor
◦ Adequate signage – some landlords have restrictions
◦ Exclusive use clause – only Pharmacy or store selling
certain products
◦ Contingency on financing – similar to purchasing a home
◦ Whether the tenant can assign or sublet the property
retailSOS.ca Gerry Spitzner 32
33. If purchasing determine a satisfactory purchase price
◦ Accurate pharmacy valuations are critical in successfully
buying a pharmacy.
Due to changes in Generic reimbursement and
Professional Allowances; Pharmacy valuations are
more complex and difficult than ever.
Usually a multiple of earnings (EBITDA)
Get expert advice from a Pharmacy biz broker or
consultant.
retailSOS.ca Gerry Spitzner 33
34. Value Assessment & Price Determination
◦ Review the external business environment (i.e. the
local community)
◦ Review the financial health of the business (e.g.
solvency, liquidity, efficiency, sales, and profitability).
◦ Cash Flow.
◦ Assess the physical assets of the business (e.g.
inventory, equipment, fixtures, technology, hardware &
software, condition of the building)
retailSOS.ca Gerry Spitzner 34
35. Value Assessment & Price Determination
◦ Assess the *„Goodwill‟* that will come with the business (e.g.
reputation, continued patronage, knowledge & expertise, information,
any special products/services)
* Note: „Goodwill‟ is normally calculated as a multiple of annual
net profit and may include number of scripts
◦ Assess the Financial liabilities of the business (eg. A/P)
◦ Assess the Financial assets of the business (eg. A/R )
◦ Are there any outstanding legal issues or contracts?
◦ Will it be an asset or share purchase?
retailSOS.ca Gerry Spitzner 35
36. Identifying Financing Needs and Options
◦ A definition of „Capital‟:
“ Wealth, in the form of cash, equipment, property, or a
combination of these factors, that can be used in the
production or creation of income. ”
Areas of „Capital‟ need
◦ 1. Set-up capital
◦ 2. Start-up capital
◦ 3. Operating capital
retailSOS.ca Gerry Spitzner 36
37. Common types of financing for Pharmacy
1. Personal financing
2. Debt financing
Debt financing takes the form of loans that must be repaid over time,
usually with interest.
3. Equity financing
Equity financing takes the form of money obtained from investors in
exchange for an ownership share in the business.
Also known as "share capital".
4. “Sweat” equity
Build equity over time at a reduced wage rate or reinvesting part or
all of salary or bonus back into the business in exchange for shares
or options.
retailSOS.ca Gerry Spitzner 37
38. Additional Purchasing Method
◦ Junior partnership
Buyer can purchase a pharmacy with little or no initial capital and
build equity over time
Seller can ease gradually out of ownership and maintain the legacy
of the independent pharmacy in the community
Sources of Debt Financing
◦ CIT
◦ Banks
◦ Government loans/BDC
Sources of “Sweat equity”
◦ Forewest
◦ Multi store owners in PS and PDM
retailSOS.ca Gerry Spitzner 38
40. Proven Formula with Admin and Buying support
Two types
◦ “SDM Associate” concept
Own the business but not the physical assets
No capital investment or capital risk
Guaranteed minimum annual income and Benefits
“Share” in profitability
Support services in all areas of Operations
◦ “Medicine Shoppe” concept
Full Pharmacy ownership
Capital investment required
Ongoing Sales and Biz Dev support
Custom marketing strategy
Training and Professional Development
retailSOS.ca Gerry Spitzner 40
41. SDM concept
◦ “Share” profits
◦ Many “masters”
◦ Associate agreement is a renewable 3year deal
◦ Retained equity requirements
◦ Franchise agreement restricts or outlaws certain activity
Medicine Shoppe concept
◦ Franchise fees
◦ Trademark rules
◦ Required program participation
retailSOS.ca Gerry Spitzner 41
42. Main Reasons:
◦ Entrepreneur
◦ Self-management
◦ Creative freedom
◦ Financial independence
Additional Reasons:
◦ Not having to answer to others (regarding the pharmacy focus)
◦ Being recognized/playing an important role in meeting the
business and healthcare needs of the community
◦ Achieving a level of self-fulfilment and pride
◦ Continuing a legacy of pharmacy ownership established by family
and/or mentor(s)
retailSOS.ca Gerry Spitzner 42
43. Either:
◦ A desire to address some unmet healthcare
need(s) for a particular patient population
Or:
◦ A desire to take advantage of a particularly or
potentially, lucrative business opportunity
Or:
◦ A combination of the above
retailSOS.ca Gerry Spitzner 43
44. Things to consider and tasks to do.
Develop a project management plan
with timing and tactical action plan.
retailSOS.ca Gerry Spitzner 44
45. If the venture is not planned carefully, there is
likely to be:
◦ A greater amount of risk in general
◦ An increased chance of specific unforeseen events
◦ A longer time lag between start-up and profitability
◦ A formidable challenge to obtaining sufficient capital
retailSOS.ca Gerry Spitzner 45
46. How to Get Started:
◦ 1. Decide on the type of pharmacy
◦ 2. Assess potential market
◦ 3. Develop a detailed business plan
◦ 4. Determine the legal structure
◦ 5. Identify financing options
◦ 6. Select a location
◦ 7. Obtain licences, permits and insurance
◦ 8. Develop a marketing and promotion plan
◦ 9. Establish the management philosophy of the business
retailSOS.ca Gerry Spitzner 46
47. Obtaining Licences, Permits, and Insurance
◦ 1. General business items (e.g. zoning, fire, business
interruption, health and safety)
◦ 2. Pharmacy specific items (eg. Pharmacy License –
College of Rx, software, suppliers, contracts)
◦ 3. Insurance (e.g. natural disasters, physical accidents,
employee, health / injury / compensation, professional
liability)
retailSOS.ca Gerry Spitzner 47
48. Types of Pharmacy
◦ Health Authority Associated Pharmacy (ambulatory care
pharmacy, Cancer drug Pharmacy, HIV drug pharmacy, hospital
pharmacy, corrections facility pharmacy, addiction, etc)
◦ Community Pharmacy (consulting pharmacy, compounding
pharmacy, retail pharmacy, veterinary pharmacy, central fill pharmacy,
etc)
◦ Other Pharmacy (nuclear pharmacy, military pharmacy, etc)
retailSOS.ca Gerry Spitzner 48
49. Determine the type of Pharmacy set-up that is
most compatible with your needs and style
◦ Your pharmacy practice desires
◦ Your pharmacy training (Community residency, hospital
residency, certificate training, certified diabetes educator, certified
geriatric pharmacist, certified asthma educator, injection training,
Pharm D, MSc, PhD, MBA, etc.)
◦ Your experience (technician, staff pharmacist, pharmacy
manager, corporate staff member, other)
retailSOS.ca Gerry Spitzner 49
50. Establishing the Management Philosophy of
the Business
◦ Management / Leadership Style
◦ Organizational Culture
◦ Corporate Values
retailSOS.ca Gerry Spitzner 50
51. Opportunity to select every item required for
this new venture
Hiring one‟s own personnel (compatibility)
Finding a great location
Creating sound policies and procedures
Avoiding having to pay for intangible assets
retailSOS.ca Gerry Spitzner 51
52. High level of risk
Longer term to profit
Considerable time investment
Need to do everything yourself
retailSOS.ca Gerry Spitzner 52
54. 1. Key Initial Questions
2. Advantages and Disadvantages
3. Value Assessment and Price Determination
4. Purchasing Methods
retailSOS.ca Gerry Spitzner 54
55. Key Initial Questions
◦ Why is this pharmacy for sale?
◦ Is the owner retiring?
◦ Has the neighbourhood changed due to competitive,
demographic or economic factors?
◦ Is the pharmacy on the verge of bankruptcy?
◦ Is there a lien on the business?
◦ Who are the Doc‟s? How long is their lease?
◦ Lease term of Pharmacy? How long?
◦ Is the current lease assignable?
◦ Zoning? Will the area change due to development?
retailSOS.ca Gerry Spitzner 55
56. Advantages
◦ Lower level of risk for the buyer
◦ No additional competition added to the marketplace
◦ Reduced set-up and start-up costs / less risk
◦ Less time required to show a profit
◦ Buyer receives established goodwill
◦ Business has an established clientele
◦ Business provides buyer with trained employees, inventory,
physical facilities, and established relationships with
healthcare providers
retailSOS.ca Gerry Spitzner 56
57. Potential Disadvantages
◦ Inadequate facilities
◦ Old/Outdated fixtures and equipment
◦ Inventory that may be too large and/or unsellable
◦ Established policies and procedures do not match with new
owner‟s philosophy
◦ Inflated sale price
◦ Problems with the location or Landlord
◦ Undesirable established leases / lease terms or conditions
◦ Existing owner may reopen and take customers
Write them into the deal or have a non-comp clause
retailSOS.ca Gerry Spitzner 57
59. Chain drug stores, supermarkets, mass
merchandisers, mail order, hospital
pharmacies, primary care centres.
◦ In 2010, Pharmacy chains, franchises and banners
accounted for 61% of the market, leaving 20% for
supermarket and mass merchandiser pharmacies and 19%
for IND‟s.
◦ In 1995 the breakdown was 60%, 8% and 32% respectively.
Drug Reform
Drug Shortages
retailSOS.ca Gerry Spitzner 59
60. Third Parties
◦ Plans are becoming more complex and patients don‟t
understand them.
Reimbursement Rates
◦ In Canada – more than 50% of prescriptions paid by
Government; most of the rest is covered by an insurer like
Blue Cross and NIHB; very little “cash pay”.
retailSOS.ca Gerry Spitzner 60
61. Key Industry Stat
◦ Per capita usage of prescriptions is climbing among all age
groups, ranging from 4.21Rx/year among those aged 0-39
years up to 41.82/year for 60 years and up.
Patient Care Service Development
◦ Home delivery, home consultation, patient charge
accounts, disease management programs (diabetes,
asthma), LTC, Group Homes, Workplace immunization etc.
retailSOS.ca Gerry Spitzner 61
62. Niche Development
◦ Developing a relatively narrow specialty or niche to fill an
observed unmet need in the local community, such as AIDS
services, addiction, pain or celiac.
Chains are slow to change to the new
business model
retailSOS.ca Gerry Spitzner 62