An event that helps prepare you for pharmacy ownership
Event: Medici Capital Pharmacy Ownership Ready Conference – Gold Coast Feb 4 to 6, 2018
For the last 20 years, Frank Sirianni and Medici Capital have been holding Ownership Ready Workshops throughout Australia to assist pharmacists looking to buy a pharmacy or enter into a partnership.
They have supported and worked with pharmacy for over 37 years and see helping pharmacists to understand how to buy a pharmacy, as well as manage the risks associated with such a purchase, as more critical now than ever before.
In February 2018, Frank and his team will take these workshops to a new level and host a Pharmacy Ownership Ready Conference on the Gold Coast.
There are two reasons for taking this big step:
- Many younger pharmacists and aspiring owners are finding it difficult to come to terms with the issues relating to buying a pharmacy; and
- Medici believes a distributed, independent pharmacy network is important for the sustainability of pharmacy.
Frank says that he sees that the risks and financial commitment required now are more complex now than ever before in his almost 40 years’ experience with pharmacy.
Other key drivers in helping Frank and his team to decide to host such a major event include:
- Ownership has always been a relevant and logical career path for some pharmacists.
However, it is not for all. Making the right decision is not easy without a full understanding of the issues and processes.
- Generational cliff: There appears to be an approaching ‘generational cliff’ with many older current owners wishing to assist and mentor young pharmacists to commence their ownership pathway.
This is a new and exciting event. February 2018 will be the inaugural Pharmacy Ownership Ready Conference.
Over the course of two days a set of learning objectives will be covered in a number of conference sessions, workshops and delivered from a number of speakers. The learning objectives include but are not limited to:
- How to buy a good pharmacy at a great price
- How to assess the potential of a business
- Understanding financial statements
- Dealing with brokers and solicitors
- Partnerships and other options
- The real cost of money and borrowing
- Legal ins and outs of buying a pharmacy
- The pharmacy valuation process and what factors impact a valuation
Frank Sirianni says: “There will be ample opportunity for you to interact and network with guest speakers from all areas, sponsors, other pharmacists and the Medici Capital team who would be more than happy to answer your questions. This all occurs over a fun two days which includes a group activity away from the conference, conference dinners and accommodation at the trendy QT Hotel”.
“This two day conference is building on events we have held recently and the feedback we have received from the pharmacy community,” he added. “Many young pharmacists are explaining to us they want to buy a pharmacy however, they see it as too difficult and competitive.
This conference will cover a range of topics to prepare first time buyers for what can be expected from the buying process and ownership”.