Select a Location

First Steps

Buy or Build

Develop Business Plan

Select Business Advisors

Select a Location

Where you do business can make all the difference.

You’ve probably heard the phrase, “The three most important factors for a business are: location, location, location.” Simply stated, where a business is located has huge effect on how it performs. With that in mind, we recommend a three-part process that can help guide your location selection process.

1. Identify opportunities.

• Identify, analyze, and evaluate target locations before selecting your location
• If starting a new pharmacy, identify locations by exploring many opportunities, such as:
  • Contacting Chambers of Commerce to learn about opportunities (rural communities looking for a new pharmacy, tax incentives, and so on)
  • Contacting pharmacy wholesalers, such as McKesson, to learn about opportunities
  • Speaking with commercial real estate agents in the area
• If purchasing an existing pharmacy, identify opportunities through a variety of methods, including:
  • Contacting our Ownership Consultant to help find local pharmacy owners who might be interested in selling
  • Contacting pharmacy associations such as NCPA and your state pharmacy association
  • Contacting local pharmacy schools
  • Contacting local pharmacists
  • Working with a real estate or pharmacy transition broker
  • Placing classified ads in local newspapers or online sites

2. Do your research.
Once a location is identified, research the location or pharmacy’s viability through:

• Conducting market and competitive analyses
• Reviewing a demographic survey and projections
• Speaking to local business owners and residents
• Speaking to local physicians and other healthcare providers

3. Negotiate and sign the papers.

• Once you have identified the location or business, work with your CPA and attorney to structure the deal and bring it to completion