Business Basics for Starting or Acquiring a Pharmacy

This webinar is presented by the BCPhA in association with:


Date:  Thursday, March 30th , 2017

Time:  6:30pm - 9:00pm

Join us Thursday, March 30, from 6:30 to 9 p.m. (PST) for a new live webinar presented by the BCPhA. Learn about the key elements of a business plan; the difference between an acquisition, buyout or starting a new pharmacy; valuations and financial planning; pharmacy design; and an overview of legal considerations.

BCPhA members pay only $50 and non-members pay $150.  Your registration includes:

  1. Registration to attend the 2.5 hour session.
  2. A book by Phil Hauser, Pharmacists Guide to Starting, Acquiring or Selling a Pharmacy (Canadian Version)


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Speakers and Topics

Business Plans

In this session Derek will discuss the benefits and importance of having a proper business plan and the key elements of a business plan.  He will also touch on conducting a market and site analysis as well as some basic marketing points.

Derek Desrosiers
is a licensed pharmacist and most recently was the Chief Executive Officer of a Western Canadian pharmaceutical wholesale company.   In addition to his business development and management role as CEO, Derek was involved in developing and implementing programs and services for independent member pharmacies that helped to ensure their economic viability and success as well as enhance the professional role of the pharmacist as a member of the health care delivery team.

Derek received his Bachelor of Science degree in Pharmacy from the University of British Columbia in 1982. He has 13 years of experience as a patient care community pharmacist in a variety of pharmacies. Derek has also been a pharmacy manager and owner and was the Director of Professional Services at the B.C. Pharmacy Association (BCPhA) prior to getting into the distribution business. During his tenure as CEO of a pharmaceutical wholesale company Derek led the company to achieve the designation of Canada’s Best Managed Companies for seven consecutive years culminating with the achievement of Platinum membership status in 2012.

Derek is considered an expert in community pharmacy economics and can assist owners with a wide variety of business issues.  His company, Desson Consulting Ltd., provides a wide variety of services to retail community pharmacy owners.

 

Pharmacy Ownership Options

phil

In this session Phil will outline three different options with regards to getting into pharmacy ownership. Specifically he will review outright acquisition, staged buyouts and starting a new pharmacy.  This session will also review partnerships and how they apply to each of the acquisition options.  Phil will also discuss the importance of having a proper supporting cast of professionals to assist with your acquisition goals.

Phil Hauser (CBB) is a Succession and Acquisitions Consultant as well as a Certified Business Broker (CBB). Phil has worked directly with Independent Pharmacy owners for last 10 years. Prior to his specialization in this area, Phil was involved as a Director of Business Development and a Consultantfor various pharmaceutical wholesalers in Canada and the US.

Rxownership.ca is a network Phil has built, which provides the resources where pharmacy professionals at various stages of ownership can find the consultative direction and services necessary to take the next step. As part of working with independent pharmacy owners transitioning out of ownership, Phil has broker deals of various sizes working towards the best possible outcome on behalf of pharmacy owners.

The focus of Phil’s business plan is for independent pharmacy to continueto thrive in the Canadian marketplace. Phil believes that pharmacy professionals need to have a clearer understanding of the preparation, planning and process of ownership or ownership transition for positive outcomes.

 

Pharmacy Valuations and Pro-Forma Financial Statements

rodWhether you are starting a new pharmacy or acquiring one, you need to know what the financial and planning starting points are.  There is more art than science when it comes to Valuations and Pro Forma Statements.   Rod's presentation will lead you through both aspects.  Rod will also talk briefly about Risk Management as it relates to corporate Life Insurance and some unique tax-efficient opportunities

Rod MacKenzie's focus is providing Valuations and the creation of Tax Efficient Corporate Structures and Strategies to business owners. The past 13 years have seen Rod specialize and work almost exclusively with independent pharmacy owners in both British Columbia and Alberta.

The vast majority of independent pharmacy owners will rely on their businesses to not only provide them above-average income during their ownership careers but also the necessary succession equity value to retire successfully. Clearly, timely and adequate planning is required and it all starts with a business valuation.

 

Basic Business Law

terryThis session will include a  brief overview of legal considerations in establishing/acquiring a pharmacy business, including some discussion of appropriate business structures, arrangements with business partners, understanding liabilities associated with running a pharmacy, franchise agreements, leases, and employment contracts.” 

Terence G. Stewart is a partner and former Managing Partner at Edwards, Kenny & Bray LLP, joining EKB in 1975 after articling with the firm.

A solicitor with over 35 years of experience, Mr. Stewart has a general corporate and commercial practice. For many of his corporate clients, he performs the role of “general counsel”. His practice includes equipment financing, personal property security, establishing companies, joint ventures, and mergers and acquisitions.

He also advises clients on shareholder and contract matters as well as commercial real estate issues.He is also a Vancouver aviation lawyer, frequently representing clients in transactions related to the acquisition, leasing and financing of aircraft.

Fraser Hartley has worked with clients on a range of transactional matters, with a focus on corporate financings, mergers and acquisitions and financial restructurings. In addition, he provides advice on corporate governance and securities compliance issues and general corporate and commercial matters.

Fraser has acted for domestic, U.S. and international public and private companies and has significant experience acting for financial institutions in public and private capital markets transactions, secured lending and acquisition financings.

Prior to joining EKB, Fraser worked at an international law firm based in New York, practising U.S. law and also as legal counsel at a major U.S. investment bank supporting capital markets transactions.

 

Pharmacy Financing

scotia

shaunShaun East, Senior Manager, Scotia Professional Plan, is your dedicated resource for all facets of your professional lifecycle. Shaun continues to build on a successful 35 year banking career, which has included assignments in retail & commercial lending, cash & treasury management, sales, and most recently in a senior account management capacity. Regardless of what stage of your professional career you are in, Shaun would be pleased to discuss your financial services requirements.

A graduate of the British Columbia Institute of Technology- Marketing Management / Real Estate Option, Shaun holds the Personal Financial Planner Designation and several other industry accreditations acquired during his tenure. Shaun is an active member of the community, having previously served on the DARE BC Board, and as a Loaned Representative for the United Way. The husband of a small business owner, Shaun enjoys soccer, golf, and biking.

 

Pharmacy Design Considerations

guyThis session will touch upon:
  -  The value of a set of Plans
  -  The value of a good Designer
  -  The value of a good Contractor
  -  Creating and Managing a Budget 

Guy Shaddock is a seasoned store planner and has an extensive knowledge of the tenant improvement industry. Guy has always had a strong interest in engineering and design. This has resulted in a career that has accumulated considerable experience in planning and project management.

After high school Guy worked in the construction industry eventually holding site supervisor positions gaining practical knowledge of construction. Guy went on to attend Simon Fraser University studying for a bachelors degree and later the College of New Caledonia to take Civil Engineering Technology.

Guy’s career resulted in many substantial accomplishments. Just to name a few; Blockbuster Video (22 new stores), Petcetera (20 new stores across Canada). For the last 15 years Guy has specialized in the design of pharmacies and medical clinics. Over 160 pharmacies and a dozen medical clinic have been successfully design/built.

 

Registration


Date:  Thursday, March 30th , 2017

Time:  6:30pm - 9:00pm

BCPhA members pay only $50 and non-members pay $150.  Your registration includes:

  1. Registration to attend the 2.5 hour session.
  2. A book by Phil Hauser, Pharmacists Guide to Starting, Acquiring or Selling a Pharmacy (Canadian Version)


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