Pharmacy
A pharmacy isn’t like any other retail business. It is governed by complex ownership rules and regulations that differ in each state, combined with legislative provisions that mean compliance is so much more than taxation. To support you best, our approach is all around collaboration, with pharmacy owners, management and staff, government regulators, and third party providers. We forge strong relationships and realise effective strategies for retail and business growth, cultivating opportunities and enabling client choices that pave the way for success.
Holman Hodge are pharmacy accounting and advisory specialists. We offer astute business advice derived from a blend of deep knowledge in the pharmacy sector, decades of experience advising individual and group pharmacy owners, and expertise in accounting and advisory services.
Learn more about our accounting and advisory services for your pharmacy.
We look at things differently
There are distinct challenges for both pharmacy businesses and their owners, whether you are an individual owner or in a partnership group. To navigate these successfully, we work with you to provide strategic guidance, backed with deep specialised industry knowledge, and support from expert pharmacy accountants and business advisors.
Start up
We support new owners / partners with their pharmacy acquisitions (and exits) entity establishment, optimal business structuring, strategy, risk management and implementation of operational systems (Point of Sale, accounting etc).
Manage & grow
The planning and everyday management of your pharmacy bring different requirements and challenges. We provide advisory services to support your pharmacy accounting, cashflow, forecasting, modeling, tax, compliance, bookkeeping and operational needs. We then provide pharmacy advisory services that go beyond pharmacy accounting to support you with optimal business structuring for growth, industry insights, benchmarking, valuation, capital raising, and facilitating partnerships, banking relationships, mergers and acquisitions.
Transition options
We provide you with guidance on buying or selling pharmacies, consideration of options, preparing for succession and retirement
Wealth management
Ownership of a pharmacy brings with it different considerations for your wealth accumulation and management. We support your strategies for this, business restructuring, family and business succession planning, superannuation and estate planning.
“I’ve had about six accountants throughout my career and Holman Hodge are the best we’ve been with so far. I was concerned about being in Queensland and them in Adelaide, but their communication is great. They follow through, they communicate, they deliver in a timely fashion.”
Pharmacy Benchmarking
We understand that each pharmacy operates in a unique environment, facing its own set of challenges, opportunities, and potential for growth. However, without knowing what’s possible for your pharmacy and what benchmarks you should be aiming for, it’s challenging to stay on track. As pharmacy experts with decades of experience, we have developed a benchmarking tool that caters to the needs of all types of pharmacies, be it large or small, groups or chains, regional or metropolitan, high street or shopping centre pharmacies.
Holman Hodge Pharmacy Benchmarking service is an essential tool for comparison and improvement. By comparing your performance with other similar pharmacies in terms of size, revenues, and location, you can gain valuable insights into how your business is performing in the ever-changing market landscape. Armed with the right information and our expert advice, you’ll be empowered to make well-informed decisions about your business and personal investment, aligning your targets and goals. Whether you are looking to take your pharmacy business to new heights or aiming to establish targets for your everyday operations, benchmarking is a key factor in performance measurement.
Holman Hodge Pharmacy Benchmarking offers a range of benchmarking data around:
- Profitability
Revenue, gross profit and net profit - Growth
Dispense, script, retail, customer - Gross profit margins
Across areas of the business - Labour
Total costs, percentage of sales, gross profit impacts - Customer
Average sale value, products per customer, retail, script numbers - Store
Gross margin, property costs % of sales and gross profit, per m² costs, sales per m² - Inventory
Stock on hand, stock turns per annum, ROI.
Our Pharmacy Team
Our expert Pharmacy Team draws on accounting and advisory practitioners and experts from across Holman Hodge to deliver bespoke services to pharmacy clients across Australia. Together, our Pharmacy Team provides operational and accounting support, and strategic guidance tailored to address the unique challenges faced by both individual and group pharmacy businesses. With decades of experience and deep knowledge of pharmacy, the Holman Hodge approach involves collaboration with owners, management and staff, government regulators and third party providers to deliver well-informed and up-to-date services, direction, mentoring and support.
Meet our team
Frank brings over 25 years’ experience to his specialist role as Pharmacy Team Lead. His deep industry knowledge, ability to foster & collaborate strong client relationships and leverage extensive professional networks, has built a reputation as a trusted advisor to pharmacy owners and groups across Australia. Passionate about driving business success, Frank also provides strategic advice on business acquisitions and restructures, including facilitating new incoming partners, dispute resolution, and valuations.
Graeme has been providing personalised advisory services to pharmacy enterprises and groups for more than 30 years. The longevity of his client relationships has seen him share the triumphs and support the setbacks of both their business and personal lifecycle, developing his specialty of life and business transition.
Elena recognises that the key to building strong and enduring relationships with clients is understanding their passion, motivation and their business. She supports pharmacy and retail clients, including those within the creative and luxury markets, to balance passion with pragmatism to grow their business.
Krista works with over a dozen pharmacies and has built a close affinity with retail and hospitality clients too. Personal experience working in a multigenerational family business and as a qualified Family Business Advisor brings a valued perspective to pharmacy clients, particularly those entering or exiting an ownership group.
Jacob understands that his work with pharmacy clients encompasses much more than just the figures presented in compliance and management reports. He fosters personal relationships that extend to providing advisory services on critical matters such as restructures, cash flow management, and transactions, in addition to supporting clients in areas like property ownership, syndication, and development.
- Serry Leombruno, Assistant Manager
Serry works with a stable of pharmacy clients, supporting tax and compliance, management accounting and advisory around matters such as restructures, cashflow and transactions. Coming from commerce, with a pharmacy retail background, he has an understanding of system and process, providing insight into business improvement.
Get in touch to arrange a meeting with our pharmacy accounting and advisory experts.