College Hill Drug: Developing a plan to build a multi-store empire
Shortly after finishing pharmacy school, Michael Butler bought two pharmacies from his father. He spent the next few years growing the core strength of these stores along with a durable medical equipment (DME) business. Working full-time as a pharmacist in one of the stores, he was ready to expand by adding more pharmacies. Business was good - but not quite enough to support a COO or other exec to help. His attempt to buy a third pharmacy was unsuccessful due to the complicated process and a lack of time. With our network and resources, we were able to sift through and identify the right opportunities for him. Stepping in to coach Michael, the seller, the bank, and other players through the process allowed us to have a positive impact on the negotiations and help him buy store number three. Michael is now able to realize his vision of adding one store a year for the next several years to become a 10-store chain. Our resources and knowledge - acting almost like a corporate office - allows him to bounce ideas and broaden his vision of what he can accomplish.