Listing ID: 76937
Great opportunity to invest in and/or own and operate an exclusively located Retail Pharmacy that was established over 120 years ago! Located near a few medical offices. The Pharmacy is located in the area of Ventura/Ojai/Carpinteria of Ventura County [Far away from the heat zone]. Save time and money with this turnkey operation and its excellent lease terms and options. Averages 125-150 scripts daily with Medicare Part D and B/Medicare/Medical/DEA/ Access Health PSAO. Recently obtained DME permit. Gross annual sale for 2017-2020 averages $1.8M-2M. Due to pandemic 2021 revenue is around 1.47M and slowly climbing up to revenue of pre-pandemic years. In addition to RX there are large amount of OTCs – vitamins, souvenirs, etc. Recently obtained Beer and Wine Liquor License brings additional revenue during hot California days. Tremendous growth opportunity available by marketing to medical building doctors, local retirement homes, medical offices, boarding cares, RCFEs, hospices, Home Health Care Agencies, etc. Large space – almost 4,000 sf, new owner can start doing compounding operation in addition to existing business. McKesson is the wholesaler, Software is Liberty. Inventory of about 250K [to be appraised before close of escrow] is not included in price. Recently built beautiful shelves for OTC and custom made central isles. Seller spent over $30,000. Movie theater and a hotel across the way are opening up soon that will bring additional foot traffic. Pharmacy does bubble packs. New nursing homes opened nearby and available for grabs with the right marketing pitch.
Call Alex Levitan-Pacific Business Brokers (818) 640-8080 or email to request an NDA. Financial Statements, Inventory Count, and any additional information will be gladly
presented to qualified buyers during due diligence. Proof of funds is required. Seller is
motivated. All of the above information per Seller; please rely on your own due diligence on market conditions and this industry before making any commitment and decision-making.
- Asking Price: $675,500
- Cash Flow: $285,650
- Gross Revenue: $1,350,653
- EBITDA: $285,650
- FF&E: $110,000
- Inventory: $250,630
- Inventory Included: N/A
- Established: 1900
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:2,800
- Lot Size:N/A
- Total Number of Employees:5
- Furniture, Fixtures and Equipment:N/A
Seller Will Train
The venture was founded in 1900, making the business 122 years old.
The transaction won't include inventory valued at $250,630*, which ins't included in the listing price.
The company has 5 employees and is located in a building with estimated square footage of 2,800 sq ft.
The property is leased by the business for $8,840 per Month
Why is the Current Owner Selling The Business?
There are all types of reasons why people resolve to sell operating businesses. Nevertheless, the real reason and the one they tell you might be 2 totally different things. As an example, they may say "I have way too many other obligations" or "I am retiring". For many sellers, these factors stand. But also, for some, these may just be excuses to try to conceal the reality of transforming demographics, increased competitors, current decrease in earnings, or a variety of other reasons. This is why it is extremely important that you not rely entirely on a seller's word, yet rather, use the vendor's response combined with your general due diligence. This will paint a more realistic picture of the business's existing situation.
Existing Debts and Future Obligations
If the existing company is in debt, which lots of companies are, then you will certainly have reason to consider this when valuating/preparing your deal. Numerous operating businesses borrow money with the purpose of covering points such as supplies, payroll, accounts payable, so on and so forth. Bear in mind that occasionally this can indicate that revenue margins are too tight. Lots of businesses fall into a revolving door of taking on debt as a way to pay back other loans. Along with debts, there may likewise be future obligations to consider. There may be an outstanding lease on tools or the structure where the business resides. The business may have existing agreements with suppliers that need to be met or might result in charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
How do companies in the location bring in new clients? Most times, businesses have repeat consumers, which form the core of their day-to-day profits. Particular variables such as new competitors growing up around the area, road building and construction, and personnel turnover can affect repeat clients and also adversely impact future incomes. One essential thing to think about is the area of the business. Is it in a highly trafficked shopping mall, or is it hidden from the highway? Undoubtedly, the more individuals that see the business on a regular basis, the higher the opportunity to construct a returning customer base. A final idea is the basic area demographics. Is the business located in a largely inhabited city, or is it located on the edge of town? Just how might the neighborhood typical household income impact future income potential?