As the profits from generic medicine decrease, retail pharmacies must adopt new strategies to succeed. A good accountant is one adviser pharmacies need to have on board.
It’s a challenging time for pharmacies. Increasing price disclosure, strong competition and regulatory change are all affecting profitability and capital value.
To manage change and capitalise on opportunities, pharmacists need to rely upon professionals who have proven expertise in this environment.
Improving financial performance
As advisors to retail pharmacists for the last 30 years, we have helped many pharmacy clients successfully grow their businesses and invest for the future. Our support is targeted towards key profit drivers that industry research shows are critical to your success. As part of this, we offer:
- Regular reports that benchmark your KPIs against industry standards to identify opportunities for improvement
- Close collaboration with you to execute strategies to minimise tax, maximise cash flow and increase business profitability
- Integrated wealth building advice tailored to your business and personal situation.
How Accru can help you
We can support you with:
- Business structuring and growth strategies, including banner group and franchise structures
- Asset protection
- Outsourced accounting
- Innovative tax structuring
- Financial planning and wealth creation
- Valuations, financing and negotiations for pharmacy purchases and sales
- Succession planning
- Monitoring of bank covenants
- Tax Planning and corporate and personal income tax returns.
We’re proud of our pharmacy clients’ important contributions to our community’s health and being. One great example is Sydney client Emil Dan, who received a PSA Lifetime Award of Excellence in 2009 for his inspiring work in in asthma education.