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    4 Replies Latest reply on Nov 11, 2011 6:24 PM by biz2capital

    New Pharmacy

    pahstaffing Newbie

      We are trying to open a new pharmacy in a medical building? Would like to talk to someone before we finalize the deal? Anyone online that has experience with independent pharmacy business, please let me know.

       

       

      Thanks

      Alex

        • Re: New Pharmacy
          LUCKIEST Guide

          Welcome Alex

          Your question is extremely general. Two suggestions

          Talk to YOUR lawyer

          Add some info to your profile page.

          How soon will you be finalizing the deal??

          • Re: New Pharmacy
            CorpCons08 Ranger

            Alex,

             

            I have worked with a client in the past in setting up a new pharmaceutical company.

            There are a lot of things that have to be in line in order to get up and running.

            If you miss a step, you open yourself up to some very painful consequences.

            If you tell me more about what you are trying to do, I could try and point you in the right direction.

             

            Regards,

             

            Dan

            • Re: New Pharmacy
              biz2capital Adventurer

              I recommend Live Oak Bank. They are great at not only financing, but will even provide feedback.

              • Re: New Pharmacy
                biz2capital Adventurer

                The one general rule in the medicl business is to create a corporation for the people, LLC for the building and an LLC for the supplies. Most medical owners will aslo establish a trust. If the trust is set up as an personal insurace, then you can invest and not pay tax penalties. You need to ensure that there is at least 1 mill to begin the fund, but you can use it as a retirement fund. You pay into it each month and then use the funds later on for "investments" house, car... etc. Check with your accountant on all the legalities, but most will establish a trust to pool money and protect from taxes.