Maintaining a main street presence since 1899, this independent retail pharmacy has served the local community and its loyal customer basis through its current third owner. With being the only presence for over ten miles, the pharmacy serves out over 1200 prescription orders per month, leading to consistent sales to a community that has an average age close to the national average. The business is well supported by two primary sources of income of both partnered assisted living facilities and general community support. With the lack of competition and the consistency of the business, return customers contribute over 95% of the businesses revenues. Primary offerings of the business include prescription fulfillment, over the counter drug sales, medical equipment sales, and convince store goods.
The business currently operates five days a week with the current owner working as the primary pharmacist since 1975. The business is additionally served by a full-time pharmacy tech, a one day a week relief pharmacist, and two part-time shop clerks. The pharmacy tech and clerks will be expected to stay on through the transition, but consumer demands can be met by a new owner if they can solely operate the business five days a week, meaning they will not require relief. The business is organized as a sole proprietorship and must transfer as an outright purchase.
The building that the business presides within is also owned by the current business owner allows additional streams of revenue for a buyer. The space consists of approximately 2600 sq ft that houses the existing pharmacy and storefront, while the second floor holds three renovated apartments, two of which are occupied by long term tenants and the other will take vacancy when the business sells. As stated by the owner, the real estate must transfer with the business. The owner through is committed to working with a new owner for up to one year to assist with the transition. A strong candidate to buy the business would be a qualified, licensed pharmacist, energetic to build relationships with a community that expects a certain level of service. The current community also states that they would not be driven away from an owner that is younger or from outside of the area, as the community would support whoever can support them.
Included in the sale of the business are all assets, records, real estate, and all other inventory.
If you are interested in this listing, please contact South Central Minnesota SBDC Regional Director Mike Hahn – Mike.Hahn@mnsu.edu or (507) 389-8875 for more info.