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Pharmacy Finance: Being Prepared

With the current economic conditions and the increase in regulations due to the changing healthcare laws many pharmacy owners are contemplating what to do. Sales may increase but profits are on a downward projection. This has lead some pharmacy owners to exiting the pharmacy industry while others are digging in and trying to find ways to increase their slumping profits.For those digging in, many are looking at finance options that would allow them to either expand their inventory, or open an additional location. To increase profits, pharmacy owners will need the ability to get more physical traffic into their current drug store, or increase sales by having a second pharmacy in another neighborhood.When a pharmacy owner gets to the point they are serious about looking at the finance options they will need to provide financial data. Unfortunately, as a small business owner who is seeing slumping profits, many owners of drug stores all across the U.S. have not prepared themselves for the amount of financial data they will need to provide.Three years of the businesses Tax Returns will be required by a lender. However, many pharmacy owners have filed extensions and the most recent tax return is not ready when they start the funding process.Lenders like to see the month to month financial statements and the month to month prescription reports. This allows a lender to see if the business is experiencing a trend upwards or downwards. Yes, there are always cycles in a year due to flu season, etc., but overall the pharmacy needs to have data that supports they are within industry standards.However, when pharmacy owners are asked to provide copies of the month to month Balance Sheet and Profit & Loss Statement many owners only have their accountants do the end of the year statement. The month to month prescription report is a report that their store’s inventory software should be able to print. Most software that pharmacy owner’s use have the capability to easily run a number of different reports, but many pharmacy owners have never run monthly reports.Having an accountant prepare month to month financial statements will have a small cost for the business owner. The script reports takes 12 pieces of paper and only a few minutes of time to run. If obtaining financing will allow the business to grow, increase profits, and maybe pay off more expensive debts then the small amount of time and money preparing the financial package should not be a consideration.This information is to help inform pharmacy owners. Whether the pharmacy is an independent, located in a grocery store, is a regional drug store chain, whether it is retail, closed door, compounding, or a specialty store having a complete package of financial data is important in obtaining financing.Unfortunately many pharmacy owners ask if they can cut corners and only supply the end of the year data. When this is done pharmacy owners remove the lenders ability to analyze the month to month trends.When they don’t have a complete package, Lenders will not assume the best. If a business owner doesn’t provide all the required information then they must realize the chance for receiving a loan is dramatically reduced. Lenders will take the position there is additional risk being hidden, or that the business is not being properly managed. Lenders will make their loan decision based on that negative impression.People who look for ways around the financing hurdles wonder why they never got the loan. In real estate you always hear “location, location, location.” When you are pursuing a business loan that is going to help the family and the business – borrowers need to think, “details, details, details.” Leaving out details and thinking the lender will be lazy and not want to analyze the details is thinking that won’t lead to a successful closing.When it comes to financing a pharmacy, everybody always wants to hope for the best, but short cuts won’t get the pharmacy owner the financing they need to expand their business and improve their profits.

Healthy Living 101 – Free Step by Step Guide to Your Healthy Lifestyle – Education and Training

Hello, My name is Daniel, and I am a Qualified Health and Fitness professional. I love my job, If you can call it a job. I spend my paid working hours training and educating hundreds of clients towards a healthier lifestyle through adequate exercise and nutrition. Now those two topics “Exercise” and “Nutrition” I have broken down into smaller sections for you to understand and the majority of the specific information will be in separate articles. It will become evident as I explain in basic terms the reasons and benefits of each section. Starting with basic introductions to:-ENERGY CONSUMPTION: How many calories are you using each day on average
-METABOLIC RATE: how your lifestyle affects your metabolic rate
-NUTRITION: what, how much and when to eat!
-THE HEART: how it is influenced and affected by the specific diet and lifestyle you live.1. ENERGY: Your body burns a significant amount of energy on a daily basis. An average measurement of this is:
for Males: between 1500 – 2000 calories per day.
For Females: between 1200-1500 calories per day.
The energy consumption and usage should be dependent on the individuals daily activities, which I will explain later. This measurement: 1 calorie is equal to 4.2 kilojoules; can be calculated in this form for every different food source. This energy comes in different forms from sugars, fats, carbohydrates and proteins.YOUR METABOLISM is measured in a “timeline graph” wave which rises and falls depending on many factors including the specific energy (Food) intake and adequate usage. Dependent on the amount of energy you are using (activities/exercise/movement) as well as the amount of energy you are consuming (eating/drinking) your metabolism needs to maintain a regular even flow. The body stores unused energy as fats. If you do not utilise (Burn) the energy (Food) you are consuming (Eating/Drinking) your body keeps it as stored energy (Fat).NUTRITION Now to eat a correct (healthy) nutrition means to be regularly feeding the body the energy it requires (and no more) to sustain it through whatever activities lie ahead. The body does not need copious amounts of foods at one time to sustain it for 2-3 hours and it is highly recommended that you eat every 2-3 hours during the day to maintain a healthy appetite (your metabolism). At night time you should be sleeping, it is also recommended that a regular pattern of 8hrs is sufficient to sustain a healthy lifestyle.The specific NUTRITION we eat is going to depict the amount of energy we have and the time in which we have to use it. Certain foods give us longer lasting energy which can be measured by the Glycemic Index (GI) within the food. This type of accurate measurement can help those who are diabetic or conscious of their weight and watching their waistline. Low Glycemic Index (GI) foods in medium sized portions eg. pasta earlier in the day are recommended for slow release energy and stamina, whilst High GI foods eg. Fudge in very small portions are recommended for faster shorter bursts of energy, however not recommended for diabetics or those with hypertention (High Blood Pressure).REGULAR EATING is encouraged to obtain and maintain a healthy lifestyle, we all need to remember that it is a LIFESTYLE and it is all inclusive. Eating at regular intervals (every 2-3hrs) will keep your metabolism ticking over and maintain a safe blood sugar level. Drinking alcohol and other high GI energy sources (not necessarily food) will decrease your health. So stay HYDRATED if your going to party on, just drink some water during and after you’ve retired for the night take a vitamin C Tablet to build your immune system back up. These type of social activities cause stress and strain on the body. For you youngsters who believe you are invincable take note… we all were young once. Your not the first to do an all-nighter!. Listen to your body. By all means have fun and do what you do, just recognise how much that will effect you tomorrow and even 10 and 20 years later.THE HEART rate has a huge effect on the speed of your metabolism and is a very accurate gauge if you are concerned about your blood pressure (hypertention, diabetes). Certain food sources will raise or lower your heart rate and effect your overall blood pressure. The blood pressure is gauged by the amount of stress on the Arterial (arteries) and venous (Veins) walls, (more on this topic later). When you have your blood pressure taken by a health professional, 3 main numbers will be evident (BP) Blood Pressure with 2 numbers; and a safe reading around 120/80 being Diastolic and Systolic readings and a Resting Heart Rate (RHR) of around 80 beats per minute (BPM). Exercise, coffee, sugar, other stimulants, shock and stress will raise these numbers up. It is recommended to “know Your Numbers” this is referring to your blood pressure and regular resting heart rate.DAILY HEALTHFUL TIPS: a,b,c,d
I’d like to share some simply points which you should include in your daily routine to help increase your internal health and therefore your overall health.a) The best way to start the day is by drinking a glass of water first thing after you wake up, before you have breakfast. This will help flush the body of garbage (toxins etc) that have been caught up over night and also prepare the body for more food which will be absorbed much more efficiently due to the “daily morning flush”b) High Intensity Exercise early in the morning will enhance the metabolism, increase your energy throughout the day as well as fitness levels to therefore burn more bodyfat.. Those of us who work in offices all day, this will give you the energy to last much longer without drinking coffee or harsh energy drinks full of unnatural stimulants that will mess with your bodys chemical balance.c) Those of us who are on our feet everyday all day, energy intake is as important for you because of the amount of physical activity you are doing. Don’t let yourself starve, this will only slow your metabolism, causing your body to store any excess energy as fat.d) EAT WHEN YOUR HUNGRY, leave room for what we would call second helping, however don’t eat a second helping. By doing this you will allow the body to move the food through the system more efficiently and effectively keeping the metabolism at the same rate.

Home Repair and Maintenance Using Software

Owning a home can be costly – especially if the home is older and requires a large amount of repair work. Luckily, basic repairs and home maintenance can easily be performed by the home owner with just a little bit of know-how, the correct tools and some time.It is important to recognize the difference between home repairs and maintenance. Home repairs are just that: things that need to be fixed. Leaky faucets, broken floor tiles and inoperative door locks are perfect examples of repair work. Maintenance is slightly different. It is the things we do around the home to keep everything in working order. Oiling hinges, cleaning gutters and waxing floors are all examples of maintenance.If home maintenance is the all about routines and schedules, home repairs can, with a little bit of forethought, be about creativity and a chance to do something new with your home. For example, a shower that needs recaulking is a perfect opportunity to redesign your bathroom while broken cabinet doors can be looked at as an opportunity to redecorate the kitchen. It all comes down to money.Designing and laying out a remodel or redecoration of a kitchen or bathroom can ensure your ‘repair’ doesn’t cost you an arm and a leg. Specialized software is designed to help you choose materials, styles and even help estimate costs – all helping keep you on track and on budget.This software is easy to use and gives the user access to hundreds of paint colors, three dimensional representations of cabinets and even offers flooring options. By spending a bit of time looking at your options, you may determine that a repair can easily turn into a minor remodel, adding not just functionality and beauty to your home, but value as well.In today’s economy, it just makes sense to do as much of your home maintenance and repair work yourself and designing a remodel is no different. Utilize design software to determine options, work out a budget and keep yourself on track. If you find a particular ‘redo’ is too costly right now, you can easily work on the changes one at a time or simply save your design for a later date. Turning a home repair into a chance to change the way your home looks and functions is an opportunity that shouldn’t be overlooked.Always remember that the time you spend maintaining your home is time well spent. It could very well prevent a costly repair down the line. Simple repairs like a leaky faucet can be fixed in no time at all – even by the inexperienced. Larger repairs or exciting home renovations take more time and know-how, but can easily be managed by using software designed to help you plan your project out. Home repair and maintenance is an important part of home ownership and it is vital that each homeowner takes the time to take care of business and not be afraid of making changes!