There is no typical pathway for young pharmacists to become a junior partner in pharmacy ownership. When I do get the chance to speak to some Junior Partners, I find there is often common threads and shared values; they are hard workers that are prepared to do more than required, and always have a passion for helping customers. Peter Le is no exception and has kindly shared his story and experiences hoping it may motivate other young pharmacist with a strong desire to become a partner in pharmacy ownership.
Background & Pharmacy Story
Peter graduated from University of Queensland in 2015 and started his intern year at a pharmacy in Toowoomba. Peter applied himself to his work and was soon given extra responsibilities such as DAA’s, the pharmacy packed for community patients using sachets and webster packs. Peter wanted to make the most of his internship year, so he worked hard and undertook as many extra duties as possible such as after-hour deliveries.
Peter ended up staying on for another two years after his intern year and continued to learn more about community pharmacy.
Peter wasn’t thinking about ownership at that time
Peter did however want to be in a position where he could give back to the community. Peter’s parents were refugees, and the local Australian people were always welcoming to his family, so he really wanted to give back to show his gratitude for the opportunity to grow up in the ‘lucky country’.
Taking the opportunity when presented
It was when the owners of the Toowoomba pharmacy, were planning to buy a pharmacy in Redbank Plains (Brisbane) in September 2018, that they asked if Peter wanted to be involved as the Junior partner. After working with the owners for two and half years, Peter had built up the confidence and trust in their working relationship to recognise this as a great opportunity to start his partnership journey. They were able to agree on a partnership share that would work for all parties as well as the roles and responsibilities within the business, giving Peter the opportunity to start his Junior Partnership journey.
Trusting your Partners
Looking back, Peter is glad he took the risk to move away from his family in Brisbane to Toowoomba for the internship, because if he hadn’t, this opportunity would never have happened for him.
Peter believes that it is important to have an open mind to different possibilities and to get diverse experiences when learning the pharmacy profession. His experience has shown that going to regional and country areas can give you more opportunities to learn and grow professionally and personally.
Benefits Peter saw of going into a Partnership
Peter believes that being a partner in his pharmacy has put him in the best position to make a difference in the community. He is also very motivated and driven to make a difference and make improvements because it’s his own business.
Peter’s advice to aspiring Junior Partners / Pharmacy owners
“You feel like you want to do everything yourself because you want to make it right, but it is very important to delegate tasks to your staff”.
Being a young guy he had lots of energy and wanted to make a big difference but after six or more months he realised he would make more of an impact by sharing the workload with his staff.
Peter had not been in a management position before, so he had steep learning curve to manage tasks like doing rosters and ordering. He did make mistakes, but he has learnt that mistakes are not something to be scared of, managing the business by trial and error is all part of learning and developing.
Calling on help when it’s needed
Peter was lucky to have the support of his senior partners while he learnt the ropes of ownership. If anything went wrong in the business or there were issues, he was always able get advice from his senior partners. It is of course, in the best interest of the senior partners to help him out.
Looking back, Peter would not change anything of his experience if he had the opportunity to do it again. Maybe one thing would be to learn to delegate tasks and responsibilities earlier than he did. Overall Junior Partnership has been a dream come true.
Peter’s future goal is to continue to do well at Kruger Village Pharmacy and if the opportunity comes up, he would love to buy another store with his current partners.
Peter’s thoughts for other young pharmacist who are dreaming of a partnership or ownership
No dream is too big, stay focused, work hard and you can achieve your goals. If you work hard, your strong work ethic will get you noticed.
Always be friendly, do things willingly when working as an employee. If you see things that are not working, look for solutions and present those instead of complaining.
You should also have the right attitude: make sure you are someone that looks forward to patient contact, as it can be incredibly rewarding to be part of an individual’s health journey. It is easy to give good customer service when the patients appreciate your service and that they know you are just trying to help them and their family. Timing does play a part; however you have to put yourself in a position where you are doing all the right things to get noticed. Be willing to compromise in the short-term have an open mind to opportunities that come up – such as a regional location. Be brave and know nothing that is worthwhile usually comes easy in this world.
Written by Ian Fedrick, QLD & NT Sales Manager – AP Group
AP Group are the leading pharmacy experts in Australia and specialise in helping first time buyers find the right pharmacy and secure the finance to support their purchase.
We connect existing owners with over 5000 ready and eager investors via our cutting-edge online Data Room. Our Data Room keeps confidential listing data secure and allows buyers to make informed decisions on each of our pharmacies for sale.
AP Group have built connections with all the major banks and a host of smaller lenders, ensuring that first time pharmacy buyers find a better deal.
About the Author:
Sports enthusiast and self-confessed lawn addict, Ian spends his spare time keeping fit and tending to his freshly manicured front lawn. What’s good news for you, he puts the same amount of care and attention toward his pharmacy clients — having sold more than 120 pharmacies across all parts of Queensland and NT.
Having worked in the pharmaceutical industry for more than 40 years, we’re yet to find anyone in Queensland who’s better placed to help you with your pharmacy sale, purchase or junior partnership. Ian’s career began at Alphapharm in 1984 as one of their first employees, and since this time he’s held several roles in the industry — including sales management roles and being part of the Arrow Pharmaceuticals entrepreneurial team that shaped an emerging private prescription market in Australia and re-invented generics through cross-licenced products.
Ian established IF Business Broking in 2008, building it from start up to one of the most successful pharmacy broking businesses in Queensland. In 2019, IF Business Broking merged with AP Group, which marks the beginning of his time here.
What really shines through with Ian is his genuine passion for helping people — whether you’re the experienced pharmacist looking to wind down and retire, or the young and energised pharmacist looking to make their first purchase.