Fully describe the business's activities?
This pharmacy in the heart of Windhoek's CBD and has been established for almost 40 years. It offers personalized services to its loyal customers, dispensing medicines, selling over the counter medicines, offering health advise and has a delivery service.
How long has the business been established?
This pharmacy was established almost 40 years ago.
How long has the owner had the business?
The current owner bought this pharmacy 8 years ago.
How does the business operate on a daily basis?
The employed pharmacist opens the pharmacy, occasionally assisted by the owner. The pharmacy employs two shop / cashier assistants to run the front of the shop and one delivery employee to deliver medication and run business errands.
How are the clients attracted to the business?
- Excellent, fast customer service - Straight Forward Pharmacy - Friendly Staff - Personalized services - reaching out to the customers and checking their compliance - Situated in Windhoek's CBD - There are a lot of doctors in the surrounding area - This pharmacy and its employees honestly care about their customer's health
What Advertising/Marketing is carried out?
The only advertising and marketing currently carried out is on Social Media.
What competition exists?
Being in the heart of Windhoek there are other pharmacies in the area.
What are the seasonal trends?
The trends are minimal, however there is an increase in sales during the winter months and during spring due to dust and allergies.
Is the business VAT Registered?
Yes, this business is VAT registered and all VAT documentation is available on file to clients in the due diligence stage.
Are there up-to-date Management Accounts available?
Yes, there are available up - to - date Management Accounts on file to clients in the due diligence stage.
What Balance Sheet and Income Statements are available?
There are Annual Financial Statements available to clients in the due diligence stage.
What percentage of the business is cash/credit?
Approximately 40 % of the business is cash and the remainder on credit.
What is the age analysis of the debtors book?
The ageing of the debtors book is current to 30 days.
How could the profitability of the business be improved?
This pharmacy could open for longer hours, Sundays and public holidays. Approaching doctors in the surrounding area could increase their client base. The pharmacy can market specials through flyers and social media. One can also look at the option of online shopping.
What is the total staff complement?
There are a total of 3 employees excluding the employed pharmacist & pharmacist owner.
Give a breakdown of staff/ functions/ length of service?
- Driver and Cashier - duration 2 Months - Front shop Assistant - 3 years - Front shop Assistant - 4 years - Pharmacist - 6 years
Do any receive special perks or incentives?
All employees receive an annual bonus.
Are they on contract?
Yes, all employees are on contract.
How involved is the Owner in running the business?
The owner is 100% involved in the business. According to law, the owner has to be a registered, active pharmacist.
When does the current lease end?
The current lease expires in January 2021 with an option to extend.
What is the annual escalation %?
The rent was decreased by N$ 2,208.00 on the latest signed contract in January 2019.
What are the trading hours?
The trading hours are Monday to Friday 08h00 to 17h30. Saturdays the pharmacy is open 08h00 to 13h00.
Is a copy of the lease available?
Yes, a copy of the lease agreement is available to interested buyers in the due diligence stage.
Do you require a licence?
Yes, it is law for the owner to be a registered Namibian pharmacist in order to own and run a pharmacy.
What lease deposit and/or other surety is required?
One month's rental deposit is required to lease the property.
What are the main assets of the business?
The main asset of the business is a delivery motorbike.
Are any items not included in the sale?
All items are included in the sale of the business.
What is their overall condition?
All assets are in good working order.
How have they been valued ?
All assets are calculated at business value: between the replacement value and the new value, depending on the conditions and repairs required.
Which assets are on lease/HP and with whom?
Currently there is a lease out on the photocopier machine.
What are their settlement amounts?
The monthly lease amount is approximately N$ 600.00, this includes a maintenance agreement.
Are they presently insured?
All assets are presently insured.
- Good Customer Service - Fast Service - Straight Forward Pharmacy - Friendly Staff - Reaching out to the Customers and checking for compliance - Pharmacy is in a busy part of town - Honest Claims - Long standing Pharmacy with loyal Customers - Good Reputation
- Opening Times - Big Mall with Dischem nearby - Competition of other pharmacies in the area.
- There is talk of a nearby high rise building 's rentals changing from commercial to residential flats - When opening hours are increased this can increase customers sales - Small Pharmacy â can be managed by one person and not many staff are needed
What is the reason for the sale?
The owner needs a change and wants to focus on bringing up her children.
Why is this a good business?
- Busy Pharmacy - Middle of Town - High foot traffic - Good Reputation - Loyal Customers - Many non- dispensing doctors are near the Pharmacy
What is the price plus stock and the net profit?
The selling price of this pharmacy is 2,2 million + 340,000 an average monthly stock. This pharmacy has an average net monthly profit of N$ 117,500
Annual Turnover Amount between R 500 thousand and R 6 million