Newspapers / The Charlotte Post (Charlotte, … / Feb. 5, 1981, edition 1 / Page 20
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Thompson, Jr. mmmm^ssTT^r - SMALL BUSINESS NEWS & VIEWS Community Pharmacies This column takes a close look at the community pharmacy anc the effects of inflation on bottom line profitability. In 1979 the aver age net profit before taxes of 1.458 pharmacies was $11^615 or 3 per cent of total sales. In the previous year, 1978, net profit before taxes was $11,467 and was 3.3 percent of total sales. In addition, the pro prietor’s or manager’s salary de clined from 6.9 percent of total sales to 6.5 percent of sales during this period. In 1979 the higher costs of good sold was up 0.4 percent as a share of sales and had great significance as it was the major contributing factor in the reduction of net profit percentage. In fact the increase in cost of goods sold to 65.7 percent resulted in the lowest gross margin level since 1955. Pharmacy managers usually at tempt to offset the rising cost of goods _soldby reducing total ex penditures or by raising selling prices so that net profits before taxes remain stilBie'Or' increase-, hr - this period, however, employees wages rose 0.3 percent of total sales and rent rose 0.1 percent. These two increases eliminated most economies that might have been realized in the expense cate gories. In addition price increases were restrained probably because of strong competition. Let’s look at one segment of the pharmacy market - 110 pharma cies with sales of between $100,000 to$150,000. The average pharmacy in' this 'group s'6M' $9i;337‘ or-T0^» • • percent of its total sales in pre scriptions. Other sales amounted to $38,011 for total sales of $129,348. The cost of goods sold was $81,804 for a gross margin of $47,544 or 36.8 percent of total sales. Total average expenses for these pharmacies ran $45,324 or 35 per cent. The major expense items were proprietors’ salary of $16,737, employees’ wages of $8,510 and rent of $4,592. The average net profit before taxes was $2,220 or $.8 So the total income of the self employed proprietor was $18,957. The average value ot tne inven tory at cost was $25,486 or 19.7 percent. The number of new pre scriptions filled was 6,354 and 6,624 were renewed. The average pre scription charge was $7.06. The average pharmacy was open 53 hours and the proprietor worked 47 hours a week. There is a regional difference in' average prescription charges and net profit. In the south Atlantic region the average prescription charge is $6.66 and the average net . profits 2.7 percent. So if you are interested in seeing how your pharmacy is doing you can get a free financial analysis from Eli Lilly & Company. For an immediate confidential analysis of your pharmacy write for partici pation forms to Department MC-698, Eli Lilly & Company, Indianapolis, Indiana 46285. For additional information write this column at the Economic De velopment Division, Center for Improving Mountain Living, West " em -<3a rdine - University ,-Gul-. lowhee, N.C. 28723 or call 704 227-7492. ™ Magazine Celebrates Valentine’s Day Bob Lacey and Moira Quinn will celebrate Valentine’s Day with a party, as they broadcast live from Clyde’s at the Sheraton Center in uptown Charlotte, Thursday, Fe bruary 12, at 7:30 p.m. on WBTV, Channel 3. As part of the Valentine broad cast, Bob will talk to a match maker. Dan Field of New York City, whose job is to put together couples who have never been able to meet “that special someone.’’ Dan has found mates for every body from a 16-year-old farm girl to an Arab sheik. After the live broadcast, from 7:30-8 p.m., WBT Radios H. A. Thompson will emcee the “Sweet heart Olympics” competition in volving waiters and waitresses from Clyde's, O’NeiU’s, The Jade East Lounge and the Radisson Plaza. Musical entertainment from “Flicker” will follow. The party is being given in conjunction with the Heart Asso ciation, and part of the evening’s proceeds will go to the Heart Fund. The public is invited, and there will be no cover charge. Merchants Who Advertise / In The Charlotte Post Are Telling You They Appreciate Your Business. Patronize Them. Stevie Wonder Feels Marley Is The Epitome OF Raggae Music wnen Me vie Wonder mentions reggae superstar and Island re cording artist Bob Marley in the lyrics of his latest number on R&B single, the reggae influenced “Master Blaster” it’s not just a nod of the hat to a fellow perform er, but an indication of the friend ship and respect Wonder and Bob Marley have for each other. _ Wonder, who asked Marley to join on his current U.S. tour as a special guest, first met Marley at a concert they performed together in Kingston, Jamaica in 1976. When - Marley and Wonder got together backstage after the show to talk about music, it was beginning of a long-term mutual respect. Wonder feels that, “Bob Marley is the_ epitome of reggae music. “The Incredible Hulk” Lou Ferrigno, who stars as The Hulk, also plays a role of a muscle builder who vies for the title of “King of the Beach,” in an episode of the series written especially for him, on “The Incredible Hulk,” Friday, February 6^ at 8 pm. on WBTV, Channel 3. Ferrigno guest stars as Carl "MbluK>; Y struggling Wbrker in a beach-side restaurant who dreams of saving enough money to open a cafe of his own. bod is synonymous with reggae music here in America and the rest of the world. No one else has come near Marley at establishing reggae music as a powerful force inter nationally and in America.” Stevie Wonder’s affection for Bob Marley and his music was_ proven once again in June, 1979, when Wonder joined Marley on stage to jam at a concert before the Black Music Association in Phila delphia. Wonder mentions Marley in the lyrics of “Master Blaster'' ‘‘because Marley inspired the , ' .1* •* Carphonics Inc. i ■ lll8 Clement Ave. Charlotte, N.C. 28205 377-0315 ^ Specialists In Quality Audio Service For Home And Auto., GOSPEL ON WGIV WGIV has a new gospel man - Don't Miss Him Mon - Sat, 4 AM. - 6 AM. Sun. 4 AM. - 11 AM. Call Bob Harris;570-1600 JAZZ ON WGIV WGIV would also like to introduce you to the best in Jazz Mon.- Sat. midnight to 4 AM. Sun. 1 PM. to 6 PM. 1600 WGIV The Station That Grew Up With You!!!! single,” says Wonder. “If rn going to take ideas from someone I like to give him credit.1 Wonder has “great respect for Marley as a musician and for his political ideas.” But the admira tion is mutual. Marley found the invitation to tour with Wonder in November 1980 “exciting." But Bob had to decline the offer when a bout with exhaustion forced him to postpone his performing plans until the new year. Says Bob Marley of Stevie Won der, “To me, he is the greatest."
The Charlotte Post (Charlotte, N.C.)
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Feb. 5, 1981, edition 1
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