Finding a Suitable Pharmacy Loan for Your Needs

Are you a recent graduate, associate or even a seasoned pharmacist looking to buy a suitable pharmacy that meets your needs? Do you need finance for it? Then a pharmacy loan, if structured correctly can meet your needs.

A pharmacy loan will assist you when you are looking to:

>> Buy your start-up pharmacy practice;

>> Acquire another pharmacy practice;

>> Expand or remodel your existing pharmacy practice;

>> Purchase equipment for your pharmacy practice, including fit outs; or

>> Refinance your existing pharmacy loan.

Your Pharmacy Loan Checklist – Here is a brief list of things you should consider when you are looking for a suitable loan to meet your needs:

1. Create a Suitable Due Diligence/Business Plan and Budget

As with any large financial decision you will make, it is extremely important that you work out your budget. You should look at your overall financial position, before you start seeking finance and this means:

>> Establishing a suitable due diligence/business plan;

>> Establishing a suitable budget, whereby you prepare a list of all your assets as well as your expenses and out-goings. You can do this by using a Budget Planner calculator; and

>> Calculating how much you may be able to borrow by using a Borrowing Power calculator.

2. Arrange for Pre-Approved Pharmacy Loan

You should arrange for pre-approved pharmacy loan as it will give you the peace of mind knowing that:

>> You will have the upper hand when negotiating the sale price of the pharmacy practice with the vendor, real estate agent, etc.

>> You will have a clear picture of what the affordability and borrowing limits are;

>> Your loan request has already been pre-approved by the lender/credit provider; and

>> You will know the conditions of your pre-approval.

3. Understanding the Features and Benefits of a Pharmacy Loan

There are many features and benefits that you need to consider when looking at a loan, these include:

>> The amount of loan you require to finance the development of a new pharmacy or the purchase of an existing pharmacy location, etc;

>> The term of the loan required;

>> Structure of the loan (i.e. Fixed/Variable/Interest Only);

>> Interest rate;

>> Provision for redraw facility; and

>> Early repayment provisions (i.e. exit strategy).

Seek Expert and Professional Advice

Your needs as a pharmacist are unique and can at times be complex. But, you must not worry about obtaining a pharmacy loan. You can seek the support of a dedicated and professionally qualified finance broker who specialises in providing assistance to pharmacists seeking a loan. He/she will understand your situation and help you in obtaining a suitable loan.

Staying Healthy: Didactic Teaching Method in Pharmacy Schools

When teaching medical studies through the didactic method, instructors use a wider method of teaching that involves theory and practical applications. Experiential learning is also didactic learning where a student learns in an unstructured manner. The beginning of didactic learning focuses on the knowledge that students already have and improves on this knowledge base. The teacher in this type of scientific teaching is a guide, mentor and resource for students.

This method of didactic education brings together classroom, laboratory, clinical and patient experiences. In pharmacy education this experiential component provides exposure to settings in an actual pharmacy and learning how to cope with patients, medical professionals, and drug companies. Students are given opportunities for higher growth potential and strengthen self-confidence. This teaching method compliments traditional learning and is a part of the pharmacy curriculum during the third and fourth years of schooling.

Schools of Pharmacy that offer this type of learning divide their programs into three major areas of study. These include provision of experiential education, professional development and pharmacy practice exposure. Clinical and pharmacy sites are provided for students to put into practice the learning they have received throughout their pharmacy college career. This is a very practical and vital link between knowledge and practice.

An additional goal of didactic teaching and learning for pharmacy students is to develop the correct methods of searching for employment in the pharmacy industry. Included is exposure to management, personnel development and the actual facilitating or running of a pharmacy center. Goals include teaching and giving pharmacy students the experience and exposure to the expanding roles of pharmacists in this changing health environment. Working in hands-on environment pharmacy students quickly learn how to coordinate and disseminate information to patients, work with medical professionals, deal with technicians and administrators, and coordinate medication plans of action.

Additional exposure for pharmacists that is highly important in this information age is the awareness and training in HIPAA laws, rules and procedures. Safety, security, and privacy of information are vital to the pharmacy industry and without this training a pharmacist will not be able to properly dispense medical information to patients. Pharmacy colleges offer, as part of their curriculum, access to HIPAA training courses, unlimited time and attempt to complete the courses and tests. HIPAA courses through pharmacy schools include HIPAA awareness, privacy rules, implementation and being aware of the Omnibus Rule 2013. A final exam will be offered and a certificate of completion printed off for students and potential employment records. All registered nurses, physicians, pharmacists, business associates in a medical setting and health care professionals who have direct contact with patients are required by law and employment status to take and master HIPPA training.

A certified and educated pharmacist is a highly valued member of your medical team. With a direct knowledge and research capability to find the best medications for patients a pharmacist is highly expert on drug interactions and side effects. If patients have questions on the correct procedures involved in taking medications and how they work, a pharmacist is the expert.

Top Ten Ways to Manage Profit at Your Online or Community Pharmacy

An online or community pharmacy must be carefully managed for optimum profitability; occasionally, changes to business processes and marketing strategies should be implemented in order to open up new streams of income, while also improving the success of promotional activities. If you’re looking for ways to make more money through your drugstore, you’ll appreciate these top ten tips for managing profit:

10.) Diversify- Open up your business to new customers by adding holistic herbal products to your inventory. For example, if you currently sell OTC pain relievers, prescription medications, and conventional health aids, why not begin offering your clientele herbal supplements that treat health care conditions in a more holistic way? There is a big market for alternative medicines, and herbal remedies are now more popular than ever before.

9.) Cross-Sell -Make the most of your inventory by using cross-selling techniques to bundle related products. For example, if you’re running an online pharmacy, make sure that your checkout area is programmed with sections that show complementary items. “Bundle” vitamins with delicious herbal teas, prescription medications with special pill boxes that help people to keep their tablets organized, and so on. Offering a few percent off the total price on cross-sold goods is an excellent way to add appeal to this sales technique. People often buy impulsively at the checkout, so cross-selling is an excellent way to boost your profits quickly.

8.) Use Social Media- Create a buzz by promoting your pharmacy on the hottest social networking platforms, such as Google+, Facebook, Twitter, LinkedIn, Tumblr and Pinterest. If you promote properly, the investment of time and energy that you put into reaching out to customers at these websites will definitely pay off. Add photos, blog posts, status updates, and special offers to tempt new buyers, and always respond to any feedback as soon as possible.

7.) Analyze Your Sales- Successful health care entrepreneurs never rest on their laurels; instead, they stay on top of things by analyzing their sales numbers and figuring out exactly which products are most appealing to their clients. To offer people what they really want, check all of your sales records to pinpoint buying trends. Then, consider offering different versions of the items that people buy the most.

6.) Target Your Ideal Customer- Business research doesn’t stop with sales analyses; you must also use market research to profile your ideal customer. Knowing who’s buying from your pharmacy is the key to marketing effectively and stocking your drugstore properly. Use client information to find out where your ideal customer lives and what his or her needs are. Then, market to that demographic or segment.

5.) Become an Expert- Position yourself as an expert in the pharmacy world by writing articles about pharmacy products, offering health care advice, or speaking to your local community. Becoming an expert builds your public profile and creates more trust and rapport with new and existing clientele.

4.) Create a Smart Phone-friendly Website- Today, many shoppers check out businesses online before they buy, and they often use their smartphones to browse the World Wide Web. If your pharmacy website isn’t compatible with a range of electronic devices, including smart phones, it’s time to hire a web development firm that knows how to create a smart phone-friendly environment at your url.

3.) Freshen Your Website Graphics- Nothing is more unappealing than a dated, dusty-looking website that doesn’t have any of the bells and whistles. If you don’t freshen up your graphics to stay current, your customers will soon lose interest. The best pharmacy entrepreneurs know how to adapt to change and keep things interesting; these savvy owner/managers always outsource for the hottest new web design graphics.

2.) Build More Interactivity into Your Pharmacy Web Pages- Whether you’re selling pharmacological products from a community or online pharmacy, you must still offer a business website that acts as a virtual calling card for your company. By building more interactivity into every web page on your website, you’ll create the right atmosphere for success. Hire a web design firm and ask them to add sharing buttons for social media, comment fields, and message boards to boost the appeal and interactivity of your website.

1.) Support a Charity- Your pharmacy is all about the health and wellness of your clients; with this in mind, why not support a charity that also promotes these values? By joining with a reputable and registered charity and donating money and/or time, you will create plenty of publicity and lots of goodwill towards your company. Often, donating to charity is much cheaper than paying for ads, and it’s so fulfilling. Meet prospective clients at local charity events, or donate online and enjoy a better public image that will build your brand.

The Many Types of Pharmacy Jobs

As with most jobs in the medical field, pharmacy offers a wide range of career paths for professionals to choose from. Every individual with a pharmacist’s degree does not end up working at the local drugstore dispensing prescriptions and offering sage advice.

There are many different types of pharmacy career paths including retail, clinical, educational, and technical. The path an individual pharmacist chooses really depends on his specific areas of interest. Thankfully, there is no right or wrong decision.

Retail Pharmacy Jobs

Retail pharmacy is what we most often think of when considering pharmacy jobs. In a retail setting the pharmacist works in a department store, grocery store, or standalone pharmacy. His job is to fill prescriptions and talk with patients about the proper use of their medications. Most of us are very familiar with retail pharmacists.

Occasionally a retail pharmacist will be one who owns his own store. In this sort of scenario the pharmacist is a business owner who also has to worry about hiring and training staff, maintaining inventory, and dealing with all sorts of government paperwork. The complexity of owning a pharmacy has greatly reduced the number of owner-operators in the United States over the last several decades.

Clinical Pharmacy Jobs

A clinical pharmacist is one who works in a hospital or long-term care facility. As a member of the hospital staff, the clinical pharmacist makes the rounds with his list of patients. He consults with doctors and nurses as well, then prescribes the proper medications and offers dispensing instructions. One of the benefits of having clinical pharmacists on staff is their ability to directly consult with patients regarding their reactions to certain medications.

In a long-term care facility clinical pharmacy jobs are similar, with the exception of a lower patient turnover rate. In these types of settings pharmacists get to know their patients more personally because their relationships are established for longer periods of time. As such, it takes a different kind of pharmacist to work in a long-term care facility.

Other Pharmacy Jobs

If direct patient work is not something a pharmacist isn’t interested in, he can pursue a career path in other fields. One of those fields is the area of education.

Obviously, medical schools need licensed pharmacists as members of the faculty. In this career path the pharmacist would primarily be an educator and counselor to med students planning to enter the pharmaceutical field. These jobs require pharmacists to continue their own education so they remain up to speed.

Another alternative pharmacy path is one of medical journalism. For example, all of the major news networks have their medical experts they call on every now and again for analysis of a particular story. These experts are medical doctors who work as journalists rather than in a clinical practice. Pharmacists are among these experts.

Other pharmacy jobs including regulatory compliance, consulting, and drug development are also available. It’s simply matter of finding what interests you and pursuing it.

A Beginner’s Guide to Buying Shares Intelligently

Practically everyone takes a flawed approach to buying stocks. So, practically everyone ends up with a rotten loss-making portfolio.

So here’s a beginner’s (or for that matter, even an expert’s) list of dos and don’ts…

But remember… you have to do lots of “donkey” work to become a successful “bull” on the stock markets. You must also have monumental patience and play stocks with a long-term perspective. Hoping to multiply money in quick time is a definite recipe for disaster.

1. First and foremost, you have to understand and appreciate that when you are buying stocks you are NOT buying some symbols on the screen. Instead, you are buying an underlying business. You are becoming a partner in that business. Therefore, you share its profits and its losses. That is why the term… shareholder.

2. It is but obvious that you have to buy sunrise businesses. If the products and services of any industry are not in demand, it would be foolhardy to become a partner in such businesses.

3. However, quite often, two companies in the “same industry” follow diametrically opposite paths… one profitable and the other losing money. The answer to this oddity lies in the quality of entrepreneurship. Good managements make good businesses. Bad managements fail frequently. Backing proven managers is, therefore, the most sacrosanct and inviolable principle of investing in stocks.

4. Sometimes even good managements and good businesses go through tough times. Therefore, apart from ascertaining that the company is running a good business and managed by a good team, you have to ensure that it makes good sales and earns good profits. Never invest in a loss-making company, unless you see strong signs of a turnaround in the near future.

5. Operational performance is one part of the story. The other significant aspect is its financial foundation. All businesses have to withstand the vagaries of the economy. For example, too much debt may not be an issue during good times. But it can seriously threaten even the existence of the company when economic conditions turn bleak. As such, strong balance sheets always make a dependable choice.

6. Wait… a company with excellent business, excellent management, excellent financial strength and excellent profits, is not the green signal to cut your cheque. No. There is one more critical parameter – its market price. If the price is too high relative to its underlying valuation, even excellent shares will not make money for you. A reasonable PEG ratio determines a reasonable stock to buy.

This is the safe, sensible and steady approach to buying shares. It would surely give you a lot more winners than losers. And, to succeed you don’t need ALL the players to do well. A few good performances, backed by at least average play from others will definitely win you most matches.

Buying Shares – Tips For Beating The Stock Market

In the present uncertain economic climate, many investors are wary of investing in the stock market. Some are even asking whether they should stop buying shares, and invest in items that are traditionally viewed as less risky, such as gold or government bonds. While it is true that investing in stocks and shares is risky at the moment, it should be remembered that such risk always exists, even in the middle of a stock market boom. There is no reason why the astute private investor cannot buy shares today and secure a handsome return overall in the long term, and this article offers tips on how to achieve that.

It is important to say that profit can’t be guaranteed on individual share purchases. For a variety of reasons – wider market conditions, global recession, issues specific to the company or group in question – it can happen that the price of a stock falls below the level at which it was purchased, and stays there. In this case, a classic strategy by small investors is to hang on to the stock until they can receive how much they paid out. This is wrong, as it can lead to an investment tied up long term in a moribund stock: it would be much better to sell at a loss and invest in shares that are likely to rise and make a healthy profit, over and above the money originally paid out. When buying shares it pays not to be too inflexible in strategy, but to be open to opportunities to make money, even at the risk of taking a temporary loss.

When buying shares initially, or when selecting which shares to buy, research is the key to avoiding losses. Never buy on a whim: always thoroughly research all of the issues surrounding any purchase. There are a number of different areas it is essential to research.

The first is to conduct general research on the stock market as a whole. Is the recent market trend for shares to rise or fall in price? Are any sectors performing better than others? Will any recent national or international events affect the performance of the market as a whole, or of individual sectors? All of these can determine which types of shares may be ripe for purchase. Places to research this information can be national newspapers and magazines, financial and political websites, and publications and websites particular to the stock markets themselves.

Once a sector or even individual company worthy of investment has been selected, then the relevant sector of the economy must be researched. Who are the big players? What are the trends in that sector? Is any new technology imminent that will change how the sector operates, bringing in new companies? Are any companies in danger of failing, and if so what is the cause? An effective analysis of these factors is of great use in finding a company to invest in whose stocks are undervalued and likely to rise. Sources of information can be trade magazines and websites, trade association publications, specialist scientific/technical magazines, and the usual financial publications and sites.

Finally, once a company has been selected it must be researched in detail before shares are purchased. What is the company’s trading record over the last five, ten or even twenty years? Is it profitable? Are there any potential threats to its income? Are there any new innovations it is developing that could boost income? How does it perform in relation to comparable companies in the same sector? All of these factors must be researched in detail before a decision is made to buy shares: a large amount of money could be lost if any corners are cut.

So it can be seen that many factors can influence the decision on which shares to purchase. Here are some key points to remember:

Be prepared to make a loss on individual stocks to ensure long term profits.
Never buy stocks and shares on a whim.
Research the stock market as a whole. What sectors are ripe for investment?
Research the target sector. Which companies’ share prices are undervalued compared to their potential?
Research the target company in detail. Are there any hidden problems? How does it compare to the rest of the sector?

Buying Shares

There are two different ways you can purchase shares; the first is from the actual company right when the shares are first being offered. This is when the company is trying to raise money by offering out shares to be bought by the public. The second way is to buy shares from other investors through the share market.

Before buying shares, you will probably need your funds available, as this will be required by most firms when buying shares of stock. In addition, you should also set up a trading account before trading as most brokers require this. Shares are always bought through stockbrokers, so before you start buying stock shares, you’ll need to find a stock broker.

There are many different types of brokers, some deal over the phone, some use post, and many use online services. Online dealing is the cheapest and most brokers use that nowadays. When choosing a broker, make sure that they are suited to fit your specific trading requirements, and that they provide you with quality information and quick execution when buying and selling stocks. Also, they should be well versed on the markets available and the different costs of services and shares.

When buying shares, many people like to do their own research on which shares to buy, they educated themselves and research on certain shares and then make well informed decisions on which ones to buy. People who do this will only need a broker to execute the actual act of buying the shares; these brokers are called execution-only brokers. These brokers will not provide you with any types of advice on which shares to buy, because the decision is yours, they’re only job is to buy or sell the shares for you. They may, however, offer a variety of different types of research tools and online tools to help get a background on the market.

The second type of share buying service is called the Rolls Royce service. These brokers will offer you a large amount of advice, they will help you to form trading strategies and try their best to suit your personal financial plan. These brokers will also help to advice you on buying shares and help monitor your investments, although the final decision rest on the client. There are some broker services however, which enable a broker to buy or sell different shares without having to ask for approval from the client. To do this, one must have a high amount of trust in the skills of the broker, this service can also prove to be very expensive as it is very highly tailored to the individual and require a lot of research from the broker.

For those who are very new to the market, you may need a broker that can help to advise you on which shares to buy or sell. Execution-only brokers are much cheaper services, however, and some brokers will not accept you as an advisory client unless you have a large amount of money to invest.

Shares Trading – How to Buy Shares

A share is defined in the world of finance as a unit of account for various financial instruments including stocks, mutual funds, limited partnerships, and REIT’s (Real Estate Investment Trust). In the English language the use of the word share to refer solely to stocks is very common and it has come to be synonymous with the word stock itself.

In laymen terms, a share or stock is a document issued by a company that entitles its holder to part ownership in the company. A share can be issued by a company or may be purchased from the stock market via a stock broker. We often hear the term “dividend” in the news media but people new to share trading can be sometimes be confused as to what exactly a dividend is. Dividends are payments made by a corporation to its shareholders. It is the portion of profits that the company has earned paid out to shareholders. Corporations can either re-invest their profits in the business, or pay profits out to the shareholders as a dividend. Often times, corporations will retain a portion of their earnings and pay the remainder as a dividend.

Dividends are one reason why share trading is so popular amongst investors and traders. If the company you own shares in makes a profit and pays out a dividend, you will earn the dividend and still hold your share position. If you choose to sell your shares you will make a capital gain in addition to the dividends you have earned over the years, a capital gain is the money you gain if your shares have increased in value since the time of purchase. However, it is also possible to incur a capital loss if you sell your shares at a price below what you bought them for. Proper research before buying shares in a company is crucial; if you find a company with good long-term growth prospects you can reap the benefits of increasing capital gains while simultaneously collecting dividend pay outs.

Buying shares is very easy today with ease of access that the internet has brought about. There are a few different ways in which to buy shares however, some people prefer to use a stock broker, this is a person or a firm that trades on behalf of the client, you tell them what you want to invest in and they will issue the buy or sell order. A full service stock broker will provide various services, at a fee, some of these services include investment research advice, tax planning, and retirement planning. There are also discount brokers who will allow you to buy and sell shares at a low rate but don’t provide any investment advice. Finally, for people who do not need or want assistance from an actual stock broker there are online brokers that allow you to buy and sell shares entirely over the internet with no need for a human stock broker.

Share trading has exploded in popularity recently with the advent of wireless internet and ever expanding Wi-Fi “hot spots”. It is entirely possible to now buy and sell shares in a company over certain cell phones that are internet enabled. For most retail traders and investors who spend the time to do a little extra research on shares of companies they are interested in buying, share trading is very lucrative and is a great way to diversify your finances. Share trading allows people to participate in all kinds of sectors, brands, and services. The ease and simplicity of internet share trading has made it possible for anyone who is interested in buying shares to do so.

Buying Shares – A Simple Share Buying Strategy

Have you been wanting to buy some shares but haven’t been sure when to take that leap? Taking the leap to buy shares can be hard to judge. So when do you buy into the market? It can be especially difficult for you if you are new to share trading. I think it is always a good idea to watch your chosen share for at least a week, maybe even a month if possible before deciding when to buy your chosen share. If you can stretch the watching out to the month it will be worthwhile as you will have a better idea of how the share works, and what price would be fair to buy the share at. If you wait much longer than the month you may miss an ideal buying opportunity.

This strategy is simple to execute and will ensure that you’ve bought at a fair price, it may not be the best price to buy the share but it will be fair. So here is a simple share buying strategy that you can use anytime regardless of how the market is tracking.

Divide the purchase of your chosen share into three parts. You will be buying your shares at three different prices. When buying shares this way it doesn’t matter when you get into the market, as it will even out the purchase price of your shares. If after your first share purchase the market goes up you have gotten you first share purchase at a discount, if it goes down then your next share purchase will be at a discount.

So while this may not guarantee that you will buy your shares at the best price it will give you an even buy every time. It doesn’t matter whether the stock market is bullish, bearish or even neutral you will have a high price, a low price and a price somewhere in the middle.

Tip: Set up a watch list

If your not sure what shares you would like to purchase set up a watch list of five to ten shares that you are interested in and watch how they perform. Most trading platforms will allow you to do this free of charge.

One Last Tip: Check the last five days

The Australian Stock Exchange website gives you the details of the last 5 days closing prices, high & low prices. It’s a great way to review where the share has been and if there are any trends. Most other stock exchange websites should be able to provide you with the same information.

Buying Shares Online

Post, telephone or online are just some of the media used to purchase and sell shares. These days however, people are taking more interest in buying shares online because it is the cheapest, fastest and most convenient way of dealing shares. Internet share dealing is considered as “execution only” which can be described as a system in which it is up to a broker who carries out instructions on your dealing like selling and buying shares online.

Some companies who offer internet share services, the activities are done in real time so that the client, in this case, you, are aware of the stock prices that you are paying for. There are many companies, however, that bundle up buying shares online, and most of them choose to trade during the end of the business day when the costs are down.

In and online share purchase, yours will most likely be a nominee account, which pertains to accounts held by another person for a beneficial owner. It is usually held by a stockbroker on your behalf. This is way your name won’t appear on the company’s register. However, since you are not registered, you will not receive company reports and any other perks associated to registered accounts. All the activities will involve a broker who will charge an agreed upon fee per stock that you buy and sell.

One important thing to remember when buying shares online is to always compare prices on the board. It will be towards your benefit to inquire about the current prices for basic trade and services applicable to those who trade daily called frequent trader service. There may be extra service fees like the cost of ISA wrappers that are self-selecting. Being familiar with these rates will help you become aware of the going fees and will also help you avoid hidden costs being attached at times when the offer is suspiciously low.

Buying shares online have gained wide popularity over the years because of the convenience it offers. For people who are busy and do not have the time to update, buying shares online is the best option for them. Aside from convenience, the internet offers numerous options in companies offering online share trading, this way; an interested buyer or seller can compare companies and what they have to offer.

There are many resources one can find on the internet regarding buying shares online. One of the most reputable companies that offer offline and online share trading is TD Waterhouse which is based in UK. The company offers convenient and inexpensive options for share dealing services and regular trading as well.

Learning the ropes of buying shares online is basically uncomplicated and easy even for those who do not have the experience. The rates are much lower than that of a broker who will buy and sell stocks for you, so you save more money which you can then use to buy more shares. Buying shares online is the most practical way when it comes to share trading.