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Community Pharmacy’s Banking Partners: First Financial Bank

September 7, 2022by Todd Eury0

First Financial Bank – Pharmacy Division 

Whether you’re launching your first pharmacy or expanding, look no further for the financing and expertise you need. First Financial Bank will treat you like you treat your patients — with utmost care.

Whether buying your first business or tenth, acquiring an independent pharmacy presents unique challenges. Similar to any retail business, you’ll be performing your due diligence evaluating:

  • Location: What’s the neighborhood like demographically? What kind of walk-by or drive-in traffic might you expect? What type of competition are you up against?
  • Property: Is the building owned or leased? What repairs or renovation will be needed? Can it support the business needs you envision?
  • Inventory: What OTC, DME, beauty, giftware or other categories of inventory are currently sold? What is included as part of the sale?
  • Staff: What are the current staffing levels and related costs? Who are the current team members? What are their skills and Who is essential?
  • Financial viability: Is the business worth the price?

But when you buy an independent pharmacy, there are more dimensions to understand about each of these elements. They involve additional evaluation, regulation, legal and financial guidance to determine what may or may not be a good buy for you. Below is a guide to some things to consider as you make your plans.

Learn more: 

https://www.ffb1.com/specialized-loans/pharmacy-loans

Podcast Episodes

Pharmacy Insiders with Ollin Sykes and Scotty Sykes

SBA FInancing for Pharmacies Drew Hegi & Bo Garmon and Bob Graul

Finance & The Pharmacy with David George

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