mhm offers strategic business advice to more than 75 pharmacy clients throughout Australia.
We provide Accounting, Business Consulting, Financial Planning and related business services to assist pharmacies in regional and metropolitan areas, and are represented on the pharmacy valuation panel of a number of major banks.
mhm provides innovative and practical solutions to the retail pharmacy industry:
Business Advice
- Assist clients to achieve better business outcomes through more effective use of point-of-sale (POS) systems
- Assist clients in interpreting their trading results and identify areas for possible improvement
- Assist clients to integrate POS and dispensary systems with accounting modules for the benefit of staff and clients
- Business acquisition and disposal services, including: negotiation, documentation, administration and analysis of financial impacts
- Business valuations
- Advice and guidance regarding partnership agreements and disputes
- Facilitating partnership and business planning meetings to assist clients to achieve continual business development
Benchmarking
- Benchmarking to assist clients assess business performance and identify areas for improvement
Funding Proposals and Applications
- Finance for acquisitions, including new entities and partnership restructures
Financial Modelling
- Financial modelling to support assessment of acquisition and development opportunities
Tax Returns and Compliance
- Preparation of Business Activity Statements
- Provision of GST compliance services
- Preparation of financial statements (annual and management)
- Provision of taxation consulting services, including compliance advice relating to relevant State Pharmacy Acts
Accounting Systems and Support
- Provision of help desk services to support existing and new systems
minfos Point of Sale System
- Assistance in installing the accounting package of the minfos POS system
We Know Retail Pharmacy
mhm understands the specific business requirements of retail pharmacies.
We also have a unique understanding of the accounting module of the minfos point of sale system.
mhm has undertaken many successful projects for pharmacy clients, demonstrating our capacity to provide targeted services to a niche market that has unique and complex requirements.
The following provides a snapshot of recent projects undertaken by mhm for the retail pharmacy industry:
- Assisted in the restructure of a number of partnership groups to facilitate introduction of new partners
- Assisted a client to assess the potential returns and risks of a new "Greenfield" pharmacy site. This involved preparing a detailed financial analysis including a number of "what if" scenarios. We also assisted in negotiations with the developer
- Assisted in the resolution of a partnership dispute which resulted in an amicable restructure of partnership assets
- Assisted a number of clients to become familiar with the use of the minfos accounting module, including the extraction of detailed reports which improved their ability to manage their business
- Continue to provide ongoing summaries of the annual results of all pharmacy clients and compare their result and key performance indicators with the results of our recent benchmarking analysis
Our Retail Pharmacy Experts
If you would like to discuss how mhm can benefit your organisation, contact our retail pharmacy specialists to arrange a meeting:
Graeme Hodge
Partner
graeme.hodge@mhm.com.au
Merri Wiese
Partner
merri.wiese@mhm.com.au
For more information visit our website at www.mhm.com.au or contact any of our pharmacy industry specialists by email or telephone (08) 8291 0300.
Adelaide Office
Level 1,
121 Greenhill Road,
Unley, SA 5061
PO Box 845,
Unley, SA 5061
T (08) 8291 0300
F (08) 8291 0400
Perth Office
45 Ventnor Avenue,
West Perth, WA 6005
T (08) 9389 4498
mail@mhm.com.au
