The Pharmacy Ownership Podcast

Buying or selling a Pharmacy? Contact usSelling your pharmacy to your PIC can seem like the perfect transition. But when you dig deeper, the structure, financing, and long-term implications can be far more complex than most owners expect.In this episode of The Pharmacy Ownership Podcast, Austin Murray sits down with Ollin Sykes, CPA, CMA, CITP to break down what it really looks like to sell your pharmacy to a PIC and how these internal transitions compare to outside buyers.They cover:Why selling to a PIC can create more value for both the owner and the communityThe key differences between stock sales and asset sales in internal transactionsHow seller financing and SBA loans impact deal structureThe importance of working capital and how it can make or break the transitionAnd more!Check out all our social media: FacebookTwitterLinkedIn InstagramOllin Sykes, CPA, CITP, CMA LinkedInMore resources about this topic: Podcast - Cash Vs. Accrual Accounting For PharmaciesPodcast - Independent Pharmacy Accounting FundamentalsPodcast - Avoiding Expensive Mistakes

Buying or selling a Pharmacy? Contact usBuying a pharmacy through a common stock purchase can look deceptively simple but beneath the surface, the risks, liabilities, and due diligence requirements are anything but.In this episode of The Pharmacy Ownership Podcast, Austin Murray sits down with Ollin Sykes, CPA, CMA, CITP to break down the real mechanics of a common stock purchase and what pharmacy owners should expect when considering this type of transaction.They cover:The critical role of multi-year due diligence and financial normalizationWhat you’re actually acquiring in a common stock purchaseHidden liabilities buyers often inheritAnd more!Check out all our social media:  FacebookTwitterLinkedIn InstagramOllin Sykes, CPA, CITP, CMA LinkedInMore resources about this topic:  Podcast - Cash Vs. Accrual Accounting For PharmaciesPodcast - Independent Pharmacy Accounting FundamentalsPodcast - Avoiding Expensive Mistakes

Buying or selling a Pharmacy? Schedule an Appointment with our transition specialistIn this episode, Ollin B. Sykes, CPA, CMA, CITP and Austin Murray break down the key differences between cash and accrual accounting for independent pharmacies. They explain how accrual-based financials provide a clearer picture of pharmacy performance, from third-party receivables and inventory adjustments to balance sheet impacts on profitability.Check out all of our social media:  Facebook Twitter (X) LinkedIn Instagram YouTube Ollin Sykes – CPA, CITP, CMA LinkedIn More resources about this topic: Podcast - Independent Pharmacy Accounting FundamentalsPodcast - Avoiding Expensive Mistakes

Buying or selling a Pharmacy? Schedule an Appointment with our transition specialistIn this episode, Austin Murray and Ollin B. Sykes delve into the complexities of pharmacy asset sales. They discuss the strategic considerations for both buyers and sellers. From asset allocation to the valuation of goodwill and script files, this episode provides a comprehensive guide to navigating these transactions.Check out all of our social media:  Facebook Twitter (X) LinkedIn Instagram YouTube Ollin Sykes – CPA, CITP, CMA LinkedIn More resources about this topic: Resource - Pharmacy Startup Costs: FinancingResource - Pharmacy Startup Costs: Leases/Facility Planning

Buying a Pharmacy? Schedule an Appointment with our transition specialistThe NCPA Pharmacy Ownership Workshop provides valuable insights for both new and existing pharmacy owners. But what does ownership look like in 2025 and what are some of the major, and expensive mistakes owners can avoid? In this episode of The Pharmacy Ownership Podcast, Ollin Sykes, CPA, CMA, CITP, and Austin Murray discuss insights from a recent pharmacy ownership workshop, focusing on the importance of avoiding costly mistakes in pharmacy transactions and the need for strategic planning in pharmacy startups. Tune in to learn more about: - Mistakes made in the early stages and the long-term financial impacts.- Lease agreements and how to avoid burning through working capital.- Securing financing with cash flow forecasting.- And more! Interested in learning more about the podcast team and their experience? Click here  Click here for the transcriptCheck out all of our social media:  Facebook Twitter (X) LinkedIn Instagram YouTube Ollin Sykes – CPA, CITP, CMA LinkedIn More resources about this topic: Resource - Pharmacy Startup Costs: FinancingResource - Pharmacy Startup Costs: Leases/Facility Planning

Inventory can make or break the value of a pharmacy - especially during a sale.  But how do you ensure you’re handling it the right way? In this episode of The Pharmacy Ownership Podcast, Ollin Sykes, CPA, CMA, CITP, and Austin Murray break down the complexities of pharmacy inventory valuation and how it impacts transactions from both the buyer and seller perspectives. Tune in to learn more about: Why seasonal and expired items could hurt your bottom line How pre-sale inventory management can boost cash flow The differences between script and OTC inventory Why accurate dating and pricing matter And more! Stay up to date on new episodes by liking and subscribing!  Interested in learning more about the podcast team and their experience? Click here  Click here for the transcriptCheck out all of our social media:  Facebook Twitter (X) LinkedIn Instagram YouTube Ollin Sykes – CPA, CITP, CMA LinkedIn More resources about this topic: Podcast - What to Look for When Buying a PharmacyPodcast - Improving Cash Flow with Inventory Management

Looking at buying a pharmacy? Do proper due diligence - schedule a meeting with us here.The most important step you can take when buying a pharmacy is performing the right due diligence, but what should you be looking for?In this episode of The Pharmacy Ownership Podcast, Scotty Sykes, CPA, CFP®, and Ollin Sykes, CPA, CITP, CMA share critical insights into the due diligence process when purchasing a pharmacy.Tune in to learn more.Did you like this episode? Stay up to date on new episodes by liking and subscribing!Want to read and follow along with this episode? Click here for the transcript.Stay connected with us on social media:FacebookTwitterLinkedInInstagramOllin Sykes , CPA, CITP, CMA LinkedInScotty Sykes – CPA, CFP LinkedInScotty Sykes – CPA, CFP Twitter More resources about this topic:Podcast – What is Due Diligence

Think you're ready to sell your pharmacy? Schedule a meeting with us! If you're a multi-location pharmacy owner, you’re going to want to tune in to this episode of the Pharmacy Ownership Podcast! In this episode Scotty Sykes, CPA, CFP® and Ollin Sykes, CPA, CITP, CMA tackle a common yet complex issue: selling a single pharmacy location from a multi-store entity.  With real-world examples, Scotty and Ollin walk you through: The crucial steps of spinning off one location Importance of proper accounting practices, like using class codes for profit and loss statements and balance sheetsCommon pitfalls pharmacy owners face when they haven’t prepared for such a transaction Key advice for owners looking to avoid financing roadblocks and ensure a smooth saleRead this episode at our transcript hereDid you like this episode of The Entrepreneurial Pharmacy Podcast? Stay up to date on new episodes by liking and subscribing!Interested in learning more about the podcast team and their experience? Click here Stay connected with us on social media:  Sykes & Company P.A.:  Facebook Twitter LinkedIn  InstagramOllin Sykes , CPA, CITP, CMA LinkedIn Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter 

One of the most common questions we get from pharmacy owners looking to buy or sell a pharmacy is “what’s the pharmacy worth?”In this episode of The Pharmacy Ownership Podcast, Ollin Sykes, CPA, CITP, CMA and Scotty Sykes, CPA, CFP discuss assessing the worth of your pharmacy, maximizing the value of your pharmacy, maximizing cash flow, and more!Stay up to date on new episodes by liking and subscribing! Click here to learn more about our podcast team and previous episodes.  Want to read and follow along with this episode? Click here for the transcript.Want to stay connected with us on social media: Sykes & Company P.A.:  Facebook Twitter (X) LinkedIn Instagram  CPA’s: Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter Ollin Sykes – CPA, CMA, CITP LinkedInMore resources about this topic:  Podcast – Preparing to Sell Your Pharmacy Blog – Do These 2 Things Before Selling Your Pharmacy Service – Buying and Selling Advisory Service – Rx Assessment 

Before selling your pharmacy, it’s important that you have sound financials, but what other steps need to be taken? In this episode of The Pharmacy Ownership Podcast, we dive deep into what you need to consider when selling your pharmacy. We talk about what pharmacy lending banks are looking for, cash vs. accrual accounting, perpetual inventory, and more! Stay up to date on new episodes by liking and subscribing! Click here to learn more about our podcast team and previous episodes.  Want to read and follow along with this episode? Click here for the transcript.Want to stay connected? Check out all of our social media:  Sykes & Company P.A.:  Facebook Twitter (X) LinkedIn Instagram  CPA’s: Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter Ollin Sykes – CPA, CMA, CITP LinkedIn More resources about this topic:  Blog – Do These Two Things Before Selling Your Pharmacy Blog – Selecting Advisory Services for Selling a Pharmacy Business Blog – Roadblocks to Selling Your or Buying a Pharmacy Podcast – The Entrepreneurial Pharmacy Podcast: Are You Ready to Sell Your Pharmacy 

Before buying a pharmacy, it’s important that you do your due diligence, but what does due diligence look like?  On this episode of The Pharmacy Ownership Podcast, Ollin Sykes, CPA, CMA, CITP and Scotty Sykes, CPA, CFP discuss everything about Due Diligence.   We share the different types of due diligence, why it’s important to do your due diligence, what information you need to look for, and more! Stay up to date on new episodes by liking and subscribing!  Interested in learning more about the podcast team and their experience? Click here   Want to read and follow along with this episode? Click below for the transcript:  (insert transcript link)  Want to stay connected? Check out all of our social media:  Sykes & Company P.A.:   Facebook  Twitter (X)  LinkedIn  Instagram  CPA’s:  Scotty Sykes – CPA, CFP LinkedIn  Scotty Sykes – CPA, CFP Twitter  Ollin Sykes – CPA, CMA, CITP LinkedIn  More resources about this topic:   Blog – The Importance of Due Diligence When Buying a Pharmacy Blog – The Pharmacy Buyers Guide to a Common Stock Purchase Blog – The Step-by-Step Process to Buying a Pharmacy

Are you interested in buying a pharmacy but aren't sure how or where to even start?   Often, we get approached by entrepreneurs looking at buying a pharmacy but aren’t sure what kind of pharmacy they are buying and what the difference between an asset purchase and a common stock purchase is.   In this episode of The Pharmacy Ownership Podcast, Ollin Sykes, CPA, CITP, CMA and Scotty Sykes, CPA, CFP bring you 40 years of pharmacy CPA insights that dive deep into how to buy a pharmacy, some things you need to consider before buying, whether you should do an asset purchase or a common stock purchase, and more! Interested in buying a pharmacy? We can help! Click to learn more about our Pharmacy Specific Buy/Sell Service Stay up to date on new episodes by liking and subscribing! Click here to learn more about our podcast team and previous episodes.  Want to read and follow along with this episode? Click here for the transcript. Want to stay connected? Check out all of our social media:Sykes & Company P.A.:Facebook Twitter (X) LinkedIn Instagram  CPA’s: Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter Ollin Sykes – CPA, CMA, CITP More resources about this topic:  Video Series - Buying a PharmacyVideo Blog – Buying a Pharmacy in a Stock PurchaseVideo Blog – Buying a Pharmacy: Your Step-by-Step ProcessVideo Blog – The Importance of Due Diligence When Buying a PharmacyVideo Blog – Questions to Ask When Buying a Pharmacy Service – Buying or Selling a Pharmacy

Are you planning on selling your pharmacy? Do you think you’re ready to sell your pharmacy? Many pharmacy owners underestimate the amount of time and planning it takes to optimize the value of your pharmacy so you can make the most money from your transition.   On this first episode of The Pharmacy Ownership Podcast, Ollin Sykes, CPA CMA, CITP and Scotty Sykes, CPA, CFP share insights into how to make the most money from your pharmacy sale, proper timing and planning when selling your pharmacy, what you need to consider, and more!  Stay up to date on new episodes by liking and subscribing! Click here to learn more about our podcast team and previous episodes. Want to read and follow along with this episode? Click here for the transcriptWant to stay connected? Check out all our social media:  Sykes & Company P.A.:  Facebook Twitter (X) LinkedIn Instagram  CPA’s: Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter Ollin Sykes – CPA, CMA, CITP LinkedIn  More resources about this topic:  Article – Do These Two Things Before Selling a Pharmacy Article – How to Maximize Your Pharmacy’s Value for Sale Article – How to Stay Out of Trouble When Selling Your Pharmacy Article – When a Pharmacy Sale is a Bad Idea