How MNP Can Help Pharmacists

Whether you are just graduating, starting a new business, or planning for your retirement, MNP provides a full range of business advisory services to assist you at every stage.

New Pharmacists

As a new pharmacist, you are excited about passing your PEBC exam and finishing your apprenticeship, as well as starting your career and realizing your vision for the future. With so many choices, you may be wondering what the best approach is. We understand your situation and work with you to answer your most pressing questions such as:

  • Should I join a large “chain” or an independent business? On what terms?
  • When and how do I buy in?
  • When and how do I buy in?
  • How do I finance a purchase or start-up?
  • How do I pay off student debts as quickly as possible?

Growing Your Business

At this stage, your business has grown and you wonder if you are doing everything you can to achieve your full growth potential. You may want to take your business to the next level, but may not know how to effectively manage this growth. A trusted business advisor can help advise you and answer important questions, including:

  • How do I establish reasonable benchmarks?
  • How do I compare to other pharmacists?
  • How do I control costs and manage cash flow along with my other finances?
  • How do I grow the business?
  • How do I minimize taxes?
  • When and how do I attract pharmacists to the practice?
  • What are my priorities for work/life balance?

Mature Practice

As a well-established pharmacy, you have managed your operation successfully for many years and it may be time to explore your next move. At this stage, you may have a number of questions such as:

  • What are my retirement needs? Does the value of my business meet those needs?
  • How do I maximize the value of my business?
  • What is my succession plan?
  • When do I want to retire? What will that look like?
  • Will my family be looked after?

By understanding your needs, we can help you determine what success looks like to you today, five years from now, twenty years from now and when you retire. At MNP, we help you answer any questions you may have to ensure you understand your options and make the best choices that fit with your unique situation and goals. From strategic planning and setting up an efficient tax structure to recording transactions and working with your banker and the Canada Revenue Agency (CRA), MNP is here to help. Working with you one-on-one, we help you achieve your personal and business goals.

To find out what MNP can do for you, contact your local MNP Advisor or call Calvin Carpenter, CA, Professional Services Leader at 1.800.661.7778