New solutions for your pharmacy? There are different ways to finance them. The right one for you depends on your individual requirements. Bank financing, KfW subsidy, leasing, renting or hire-purchase: Get to know your options.
What financing options are there?
Many pharmacies finance their autopickers directly though their principle bank. In a few cases, public subsidies may be obtained. Apostore, a company of the KNAPP group, offers leasing and financing with its partners. The available financing must be checked up front in the respective countries. Depending on the product, one of several options may be selected: Renting, hire-purchase or leasing.
Are there additional costs beyond the purchase of the autopicker?
When installing an autopicker in an established pharmacy, it is sometimes necessary to make structural alterations. The costs involved are not taken into account in the autopicker financing. When setting up a completely new public pharmacy, however, the autopicker costs are usually part of the overall finance package from the pharmacy’s principle bank.
Does the financing also include services?
No, services are not included in the finance package. A maintenance contract is required for the purchase of an autopicker, regardless of the type of financing. This agreement ensures that the autopicker is always well-maintained and ready for operation.
What does leasing have to offer?
Here, the utilization of the leased object is in focus and not the ownership of it. Ownership of the leased object remains with the lessor. When the leasing term expires, the object is returned to the lessor or the lessee can acquire it through purchase. 100% of the leasing rate can be claimed as operating costs. Leasing is a way to safeguard liquidity, leaving the credit line untouched.
How does hire-purchase work?
Only the interest part of the monthly instalment is included in operating costs and is a tax write-off. The autopicker is included from the beginning in the business assets of the pharmacy and is included in the balance sheet and depreciated accordingly, generally over seven years. Under civil law, however, the hire-purchaser only becomes the owner of the device upon payment of the final instalment.
What about renting?
Renting involves a specified term, for example, seven years. The pharmacist can then decide whether they want to return the autopicker or rent it for two more years for half the monthly rent. With the last rent payment, ownership of the device is transferred to the pharmacist. They can also purchase the autopicker upon expiration of the regular term with a lump-sum payment.
What type of financing is the best?
The decision to rent, to choose a hire-purchase option or to lease depends on many factors: Company size, solvency, liquidity, credit lines at the bank and much, much more. The most important person to talk to is your tax accountant. They can determine for you which form of financing will be best for you. Naturally, financial institutes may also be consulted, whereby the conditions they offer can differ significantly.