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*** Targeted Project *** There is currently an industry roll up of the pharmacy industry due to the aging population, new drugs being introduced to the market, and an overall increase in drug prescriptions. At the same time there is a decrease in reimbursements to the pharmacy from insurance companies and government agencies, along with new costs to the store associated with new laws and regulations. Due to sales going up, but net profits coming down there are many pharmacy owners trying to capture a bigger piece of their market share through expansion. The easiest way to expand a business is through acquisition. Larger pharmacies have the cash and ability to buy the smaller independents that will be struggling with the decrease in net profits. We expect the pharmacy industry roll up to last a couple more years.
National chains are the largest buyers, but regional chains, equity investment groups and independents are also buying. Washburn & Associates has approximately 350 buyers for pharmacies. The Project Corporation has aligned itself with Washburn & Associates to pursue transactions in the pharmacy industry roll up. Washburn & Associates is a national company, and the industry leader, in providing acquisition and consultation services to sellers and financiers in the pharmacy industry. Yearly pharmacy valuations and audits completed by Washburn & Associates exceed $1 billion. As President of Washburn & Associates, Jack Washburn oversees all valuations and transactions. Mr. Washburn has more than 33 years of successful experience in the pharmacy industry and is known as an expert in both the legal and corporate aspects of transferring the ownership of pharmacies. Jack Washburn’s excellent reputation, integrity, ability, and experience along with the company’s national data, are reasons the largest U.S. Banks and buyers and sellers of pharmacies use the services of Washburn & Associates. We are looking for Representatives (Reps) that have the professionalism to pursue transactions with the owners of independent pharmacies. Most pharmacy owners are in the mid 50's, or older. They work 60 plus hours per week, take few vacations, and have been standing on their feet for many years. Customers count on them just as they would a primary care giver. Pharmacy owners have typically made very good personal income and are confident people. We need Reps that can communicate with these professional care giving business owners. The process is easy and we teach you how to approach them and what to say. Reps will gather basic information from the owner, and when presented with a valuation of the store will ask for a contract to sell the store to a pre-qualified cash buyer. The Rep will have very little time invested in a single deal. However, the down side is that these transactions can take 6-9 months to complete. Jack takes on the load of the work to close the transaction. Reps need to have other income streams so they have the cash flow to support their personal and business expenses. Reps that are consistent can earn a nice living from this project. Example: Sale Price $750,000 Listing commission 7% Company total commissions $52,500 Rep Split % 30% Rep Commission $15,750 There will literally be hundreds of pharmacy transactions in a twelve-month period. Can you do one a month? One every couple of months? A Rep that consistently works 4-10 hours a week can develop a pipeline of transactions, and when they start closing, be nicely rewarded. As in all businesses there are costs of doing business. Washburn & Associates requires all transactions be handled professionally and consistently. Due to this there is a minimal investment to become a Rep for the Pharmacy Project. There is a one-time fee of $495.00. This provides you letterhead, envelopes, and business cards (500 each), a personal website, unlimited training and support, a designated area to pursue, and a list of prospects in the area. Reps will be required to make the first contact with targeted owners. Reps will send letters and then follow up with a phone call. A minimum of 20 per week will be required. Reps will be given specific areas to work and these areas will be exclusive to the Rep, unless the Rep is not working the project. Commissions are guaranteed to the Rep on “Listings” they receive, even if the Rep becomes inactive. Do you want to expand your business? Do you want to work on a targeted project where equity investors are waiting for transactions? Do you have the staying power to work an area and not need to be paid by the end of the week? When you determine this is a project you can be successful with send me an e-mail with your contact information, a request for the Rep Agreement for the Pharmacy Project, and some basic information about why you would be successful at this project. E-mail Brad at bradpharmacy@msn.com. For additional information you can review our websites: www.buyingandsellingpharmacies.com
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