Business for Sale Overview:
The March Group currently represents an established retail and closed door pharmacy providing pharmaceuticals, medical equipment and supplies to individual patients and assisted living facilities. With a staff of 26 full-time and four part-time employees, the Company is poised to achieve $6.5 million in revenue and nearly $380,000 in EBITDA in FY 2009. The retail pharmacy fills approximately 2,800 prescriptions per month (49 percent new prescriptions and 51 percent refills). The closed-door pharmacy fills approximately 4,400 prescriptions per month (32 percent new prescriptions and 68 percent refills). Fully accredited by the Community Health Accreditation Program (CHAP), the Company is receiving telephone calls from pharmacies who decided not to accredit, thereby receiving new patients from those pharmacies. The customer base is composed of thousands of walk-in retail customers and several assisted living facilities. Represents superior and friendly customer service, attention to detail, and high-quality products. A long-standing (49-year) operating history, a highly experienced staff, and a comprehensive product selection result in an estimated 90 percent rate of repeat business and help ensure continuity of the Company’s operations. The 6,500 square-foot retail facility is leased at the fair market rate from an unrelated party. The existing facility is sufficient to support proforma growth projections. The majority owner and managers are committed to remaining with the firm for an agreed upon period following a sale to help the Company realize its proforma objectives.
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Property Features and Assets:
The Company operates from a 6,500 square-foot retail facility which is leased at the fair market rate from an unrelated party. The existing facility is sufficient to support proforma growth projections.
Market Competition and Expansion:
Historically, the Company has relied primarily on repeat business and customer referrals to attract new business to expand its customer base. Growth to date is also attributed to establishing and maintaining excellent relationships with customers throughout the geographic markets served. The Company has no formal marketing department. The owners have been instrumental in building the Company’s account base and financial strength through extensive industry experience and product knowledge. The owners are proud to have built a company with a healthy diversity of customers, a firm commitment to customer satisfaction, a first-rate management staff and employee base, and a favorable reputation in its markets. U.S. personal consumption expenditures for drug preparations and sundries, which are major indicators for drug stores, are forecast to grow at an annual compounded rate of 7 percent between 2008 and 2013. The Company competes with national retail pharmacy chains; however, competition in the medical equipment/supplies space is more limited.
Reason for Selling:
The owners wish to pursue other interests.
Additional Details:
- The property is leased.
- The owner is willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is not a franchise resale opportunity.
- This is not a distressed business or bankruptcy situation.