Pharmacy Ownership Workshop is an intensive course focused on topics for those considering pharmacy ownership or current owners looking to polish their management skills. This soup-to-nuts crash course on pharmacy ownership, whether you're starting from the ground up, purchasing an existing store, or expanding to become a multi-store owner - this course is for you. Our team of expert will answer the nitty-gritty questions about the loan approval process, licensure agreements, creating a start-up checklist, writing a business plan, designing an effective store layout, and much more. Click here for the agenda and full program information.

Pre-work course materials will become available beginning August 23, 2021.

For more information, contact: Kathy Doucette at 703-683-8200 or Kathy.Doucette@ncpanet.org.


01. Learning Objectives

Upon completion of this activity, participants will be able to:

1. Describe the characteristics of people most likely to succeed in business.

2. Discuss why a business plan is needed for a pharmacy.

3. Discuss how to assess the proper physical size of a building that will fit your needs.

4. Discuss the impact on your potential business of signage, parking and local business, schools and communities.

5. Explain which legal documents may be involved with the transfer of ownership.

6. Identify key legal documents used in the purchase or sale of a pharmacy.

7. Discuss terms that protect both the buyer and seller.

8. Outline key components of a buy/sell agreement for partners in a pharmacy.

9. Compare and contrast the liability issues between asset purchase and stock purchase.

10. Discuss the documents exchanged between the buyer and seller in an asset purchase.

11. Discuss the mechanics of a stock purchase.

12. Explain the process for due diligence.

13. Analyze the pros and cons for each of the corporate structures.

14. Describe the important components of the financials that need to be prepared for a business loan package.

15. Explain the dynamic relationships that exist between the balance sheet and income statement.

16. Outline how to use financial analysis as a tool to improve profits and increase cash flow.

17. Discuss a pharmacy’s financing needs.

18. Describe the attributes of a well laid out pharmacy retail floor plan and create a plan that will be inviting to customers, encourage complete full store browsing while maintaining a professional pharmacy atmosphere.

19. Discuss out-front pricing strategies that deliver value to patients and utilize options and formulas available for pricing and maintaining profit margins on price sensitive personal care products and health related items.

20. Outline a marketing strategy using curbside appeal, word of mouth, media, exterior and interior signage that will encourage sustained constant growth.

21. Describe the components necessary to execute a successful marketing campaign.

22. Craft a unique and compelling message that can be applied to all media platforms.

23. Compare and contrast the advantages of social media, direct mail, word of mouth, exterior signage, print, and broadcast media.

24. Describe one pharmacist's challenges to pharmacy ownership and steps to overcome them.

25. Outline 3 key strategies to assist with moving from pharmacy management into pharmacy ownership.

26. Discuss how expansion into niche services can increase financial success of a new pharmacy.

27. Explain the importance of researching demographics and what information you need to obtain in that research.

28. Discuss how demographics affect your OTC and niche options.

29. Outline how to incorporate demographic information in your business plan.

30. Identify key features of a store layout.

31. Describe how layout affects traffic flow.

32. Discuss the impact on profitability of a poorly designed layout.

33. Construct a list of attributes that cause concern in a lease or buy proposal.

34. Discuss potential resolutions for lease problems and appropriate action.

35. Discuss how an accountant can assist pharmacy owners during the start of a new pharmacy or acquisition of an existing pharmacy.

36. Discuss how an attorney can protect pharmacy owners during the start of a new pharmacy or acquisition of an existing pharmacy.

37. Outline the small business resources available to pharmacy owners.

38. Describe how to determine an equitable selling/purchase price for a community pharmacy.

39. Determine which factors will affect the price of the pharmacy.

40. Explain the protections that SBA loans afford the buyer and seller.

41. Discuss borrower eligibility for SBA loans.

42. Describe the SBA loan process from application to settlement.

43. Describe the licensure requirements to open or transfer a pharmacy.

44. Explain the details to close a pharmacy and the local, state and federal agencies that must be dealt with to close a transaction.

45. Explain the implications of third party payer contracts that can impact on the acquisition of a pharmacy.

46. Discuss the different areas where pharmacy technology can improve efficiency of pharmacy operations.

47. Outline budgeting needs for the incorporation of pharmacy technology systems into your business plan.

48. Discuss how to phase in technology as the business grows.

07. Pharmacist ACPE UAN#

0207-0000-21-708-L04-P

ACPE Statement

NCPA is accredited by the Accreditation Council for Pharmacy Education as a provider of continuing pharmacy education. This program will provide 20.0 contact hour (2.0 CEU) of continuing pharmacy education credit. The participant will need to register, complete the on-demand pre-work, attend the live CE courses, and complete an activity evaluation to obtain credit.


Activities:Type
Pharmacy Ownership Workshop Pre-Work
Pharmacy Ownership Workshop Pre-Test
Assessment
Entrepreneurship and Business Plan Development
eLearning Course
Site Selection
eLearning Course
Buying and Selling, Marketing, and Other Legal Issues
eLearning Course
Buying Assets vs. Common Stocks
eLearning Course
Accounting and Corporate Structure
eLearning Course
Starting a Pharmacy from Scratch
eLearning Course
Financial Analysis
eLearning Course
Floor Plan, Product Placement, and Merchandising to Sell
eLearning Course
Marketing Your Message
eLearning Course
Live Program Oct 7-8
Pharmacy Ownership Workshop-Live Session
Instructor Led Course
Feedback Survey
Pharmacy Ownership Workshop - Feedback Survey
Activity
Overview
Image of Course
Type:Learning Path
Learning Time:19h  
Key Dates
Starts:08/23/2021
Enrollment:Prior to  10/13/2021
Enrollment
Price:$795.00
* Prices in US Dollar