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letter-of-intentBurlington County - A long-established (35 years in this location under current ownership) full line pharmacy located in a pleasant middle class suburb in Burlington County. Located just 28 miles south of Trenton, 27 miles east of Philadelphia, 55 miles southwest of Edison, NJ, this store serves a trading area of more than 8,000 people, has no local independent competition in the Township, only one large chain, CVS, which does not provide the services that the consumers in this market require. FYE 6/30/17 showed reported sales of $2.05MM, down slightly from prior year, projecting $1.8MM for FYE 6/30/18. 85%++ Rx sales, full store margins of 23%. The store is currently filling 21,000++ Rxs annually, >1% cash, the balance traditional Managed Care plans. It is open from 9:30-8 Monday - Friday, 9:30-3 Saturday, closed Sundays and holidays. 58 hours weekly. It occupies a 3,100 sq. ft. space which includes 600 sq. ft. of storage. There is a long lease in place that is assumable by a new owner. Current base rent is $2,500.00 monthly. A very well organized and well merchandised store. The required payroll includes 1 FT Pharmacist (the current owner, who is the PIC), 1 PT Pharmacist, 1 FT tech, 4 PT techs, PT bookkeeper. All existing personnel are experienced and knowledgeable about the customers and the local market. There is some financing available for a creditworthy and qualified buyer with a reasonable equity contribution. This is an opportunity for a young pharmacist, a first-time buyer, to purchase a long-established store in a pleasant suburban environment. This store has ample opportunity to grow, explore new niches and specialty opportunities, under new and motivated management. It can provide a comfortable living for an owner-operator while servicing any debt incurred in the transaction. This is a great town and the store is well located, has an excellent reputation for customer service.

If interested in this listing, please email Jack Collins.

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