Over 500 Pharmacies Sold



letter-of-intentEssex County - A long-established (more than 60 years in this location under the same ownership), full line pharmacy and home healthcare store located in a pleasant, upscale town in Essex County. Located just 12 miles west of mid-town Manhattan, 30 miles north of Edison, NJ, this store serves an affluent trading area of more than 10,000 people, has no immediate local independent competition, only large chains that do not provide the services that the consumers in this market require. Centrally located in a high-end residential neighborhood, close to the largest shopping center in the town. FYE 12/31/16 showed reported sales of $1.52MM, down slightly from 2015. 80%+ Rx sales, full store margins of 26%, solid HME/DME sales and rentals contribute to higher margins than traditional. The store is currently filling 18,000++ Rxs annually, 10% cash, the balance traditional Managed Care plans. It is open from 9-9 Monday - Thursday, 9-7 Friday, 9-5 Saturday, 9-1 Sunday. 70 hours weekly. It occupies a 3,000 sq. ft. space plus has 4,000 sq. ft. of storage. There is a new lease available for a new owner. Current base rent is $6,500.00 monthly plus taxes and CAM. The required payroll includes 1 FT Pharmacist (the current owner), 2 PT Pharmacists, 1 FT tech, 2 FT clerks, PT bookkeeper, driver/stockperson. All existing personnel are experienced and knowledgeable about the customers and the local market. There is some owner 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, upscale suburban environment. This store has ample opportunity to grow, explore new niches and specialty opportunities, under new and motivated management. This is a great town and the store is well located, a community landmark, has an excellent reputation for customer service.


If interested in this listing, please email Jack Collins.


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