It's astonishing to see how some buyers dismiss due diligence as a mere inconvenience and expense in the process of purchasing a business, without fully considering the risks involved. Unlike buying a house, acquiring a pharmacy entails numerous potential pitfalls, each with the potential for significant consequences. Moreover, the emotional aspect of the buyer adds another layer of complexity, as it may lead them to overlook crucial risk factors. This oversight leaves the buyer exceptionally vulnerable to unforeseen challenges ..read more

There are the necessities of bank funding and compliance, using the equity in your pharmacy to remove debt securities from your family home, determining a value for selling, partnership equity changes, sometimes for tax reasons, and sometimes unfortunately for Family Court reasons. Now some pharmacy owners will take a valuation report, go straight to the $value and ignore everything in between. Some will aggressively try to persuade me to change my opinion. Others think they know valuation theory more than me (some do by the way). Some will go through the valuation with a fine-tooth comb and f ..read more

When it comes to pharmacists and marketing, I often come across this common assumption that it's all a bit wishy-washy and tough to keep tabs on. Sure I get it – from the outside it might seem like all we do in marketing is whip up snappy captions for videos and scroll through social media. But you know what? What I get excited about in marketing is the data. Call me biased, but surrounded by accountants as I am, I believe that good data is the key to making solid decisions. So, today, I'm excited to dive into some analytics through different avenues that I think are crucial to track in a phar ..read more

It's been a while since community pharmacies in sunny WA started offering UTI prescribing. As a strong advocate for the full scope of practice, I welcomed this stride in providing accessible healthcare for our community. However, recently, I've observed a lack of awareness among the public regarding pharmacists and UTIs. Many are still unaware that this service is available at their local pharmacy. I've had more than three conversations with family members and friends who were surprised to learn about this offering ..read more

Over six months have passed since the implementation of sixty-day dispensing (60 DD). In a recent LinkedIn video, John noted that he now has over six months of post-policy data for pharmacy valuations. He mentioned that the impact hasn't been as significant as initially anticipated, emphasising that it's still early days and the pharmacy landscape is ever evolving ..read more

At Peak, we're not just about staying ahead in the pharmacy industry; we're all about immersing ourselves in the heart of it. So, when Patricia, (Bookkeeping Manager), and Priya, Director, jetted off to the Australian Pharmacy Conference (APP) 2024, it was more than just a conference—it was an adventure. Let's dive into their three-day whirlwind, filled with insights and connections ..read more

The countdown for Australia’s biggest pharmacy conference, APP, is just around the corner. I have been honoured to attend in past years’ and have always enjoyed meeting others who are passionate about all thing’s pharmacy. Plus, there is the learning and updating myself with the pharmacy landscape so I can come back home and share this knowledge. Seminars, conferences, workshops and training for employees and owners are important to career development. It allows you to learn and upskill yourselves to do a better job, provide a better service and open doors to opportunities ..read more

I might not own a business, but I do oversee a department here at Peak. The start to this year has been a bit off for me – kind of wonky. But you know what? Out of all this wonkiness, I've dug deep and discovered quite a bit about myself. It's also made me reflect on my job and how to run the show smoothly. I've also learnt a solid lesson along the way, something I believe any pharmacy owner or business head could relate to. So, in classic Peak style, I've written a blog sharing my newfound wisdom ..read more

At Peak Strategies we get to see a lot of pharmacy financial data, whether from our own compliance or bookkeeping clients, or from the valuations we do. One of the most important aspects of managing your pharmacy’s finances is cashflow. Cashflow is king. It is the lifeblood of your pharmacy and therefore needs to be given priority. What often comes up though is the slow creep of cashflow tightening ..read more

We've noticed a gap in our marketing content: while we strive to provide comprehensive marketing insights, we haven't delved much into the practical "how-to" aspect of implementing these strategies. Specifically, we haven't tackled the use of design and branding software to elevate your pharmacy's content ..read more