Brooke waited and found the right opportunity and along with her fiancée and partner in business Luke, to open a new pharmacy. That's not the only change in their life as there is also the good news that Brooke is pregnant.

Each of their work experience to date had been focused on clinical pharmacy work and only a few management responsibilities. Taking on ownership presents a myriad of new challenges.

Brooke and Luke want the right building blocks for the business so they are prepared for the inevitable ups and downs, and can reap the rewards later on.

It's an intensive period of building the business and they want to make sure they've covered all bases. They can't expect to be experts in everything and realise the importance of seeking advice and support from people they can trust.

To find out how the Guild Group can help Brooke at this stage in her career, use the navigation buttons on the left.

Guild has an easy-to-use online survey tool called RiskMASTER. The survey can help you manage the risks that are likely to occur in pharmacies.

The simple Yes or No type questions in the survey provide you with results that identify areas of risk in your pharmacy and give advice on how to manage these risks.

Also, you can share these results with your staff as part of their ongoing education and team effort of reducing workplace risk for them and customers.

Click here to use RiskMASTER and if you require further information talk to our Risk Management team. They can also provide you with a hard copy risk management guide called GuildWatch, call on 1800 810 213.

There are some things in life that you don't want to think about. If you adequately prepare for them you can rest assured that whatever challenges life serves up you and your family will be ready to financially take them on.

Covering yourself to receive income protection, trauma and disablement cover and life insurance, ensures that the money will keep coming in for you and your dependants, whatever happens.

Having a written will is always important, especially so when you have children under 18 years of age or dependant children of any age. Appointing a “testamentary guardian” is crucial in ensuring that in the event of the unthinkable your children will be looked after by the right people and won't be further distressed by contesting guardians. Will kits supplied through retail outlets are not generally adequate for wealth creating business owners with more complex financial affairs.

Make sure you review your will and life insurances regularly to stay protected.

Talk to our team at Guild Lawyers about assisting you in drawing up a will, call on
1800 617 624.

Talk to our team of Life Risk Advisers to protect you and your family's financial future, call on 1800 333 143.

You've been busy getting your pharmacy off the ground but don't take your eyes off the ball by leaving yourself underinsured and exposed to risk.

Business insurance is imperative in protecting your pharmacy against all the things that can go wrong – the big and small events can be equally inconvenient and distressing. Whether it's the unthinkable like a fire or burglary; or an accidentally cracked window or leaking roof, business insurance with an insurer who understands your business is a great help.

Personally, ensure you have cover for your home and contents, your car and your income. Now is not the time for an unexpected setback on the home front either.

Talk to Guild Insurance about your cover, call on 1800 810 213.

Have you considered what would happen to your pharmacy if you, or another key person in your pharmacy, became sick, was injured or passed away? For your pharmacy to continue to operate, it is essential to protect your key people with the right insurance cover.

Key person insurance proceeds can replace any lost profit or capital value that the key person would have produced. Key person insurance proceeds can bridge the gap, while training a replacement to the necessary level of production, and enable the pharmacy to operate efficiently through, and after, the ordeal.

Assess if you have adequate financial protection in place. All owners and partners may benefit from talking to a Life Risk Adviser who can provide information about the various wealth protection options available to safeguard your financial future.

Talk to our Life Risk Advisers about key person insurance on 1800 333 143.

Even if the beginning of your pharmacy ownership has been rosy financially there are sure to be challenges ahead. Pharmacy owners usually don't focus on future cashflows because they are blinded by the profit numbers of the pharmacy but profit does not equal cashflow.

Sometimes success in the first few years can be fool's gold. When you buy a pharmacy, you receive a cash injection from the initial credit granted to you by your wholesaler. The advent of PBS online has reduced what is owing to you by the HIC so that your cash injection is a very healthy one. If your purchases are say $200,000 a month, then you receive a cash injection of this amount.

When this initial cash injection ceases, pharmacy owners may face the realisation that due to the top price they paid for the pharmacy they don't have enough capital to overcome all of the expenses and debt for the original purchase.

Talk to Guild's team of business and tax advisers at Guild Accountants on how to keep on top of your cashflow. Call on 1800 101 296.

Owning a business comes with added responsibilities. Identifying your responsibilities as an employer will help you avoid unnecessary costs and damage to your business while also demonstrating your commitment as a responsible employer to your staff. Even if you don't employ staff, you are still required to provide a safe environment for your customers under occupational health and safety laws.

Employment contracts, discrimination and harassment law, industrial relations and occupational health and safety, are just some of the areas you need to comply with to ensure that your are providing a safe and fair environment for your staff and customers.

It can be difficult to ensure total understanding of your obligations under Federal and State legislation in all these areas.

For assistance in preparing contracts or to obtain advice on any area concerning workplace law or dispute resolution, talk to our team at Guild Lawyers, call on 1800 617 624.

Superannuation can provide one of the most advantageous savings environments and possibly provide tax benefits, which can be particularly effective if you are in the higher tax brackets.

In certain circumstances, you can sacrifice your salary as savings into your super account before it's taxed.You can utilise a range of contribution strategies to save via your super fund and increase your wealth tax-effectively – for example, through personal and self-employed contributions, salary sacrifice, spouse contributions and co-contributions.

Talk to our team of Financial Planners regarding effective super strategies for you, call on 1800 333 143.

When looking for the default fund for employees at your business these are some of the questions you need to ask:

• Does the super fund meet Government ‘choice' obligations, enabling you to nominate it as the default fund for your employees?
• Does the super fund provide consultants to educate and assist you and your employees on managing their super and common super related processes?
• Does the super fund provide simple joining and ongoing administrative processes?
• Does the super fund provide easy online access to your employees' account?
• Does the super fund provide a facility to make contributions on-line if you choose?
• Does the super fund provide easy and efficient methods for you to pay your employees' guaranteed superannuation amount?
• Does the super fund return all profits to the industry?
• Does the super fund keep things hassle-free and provide service when you need it?
• Does the super fund charge competitive fees?

We believe our GuildSuper fund is competitive with any other but we encourage you to do your research to satisfy yourself on this matter.

Talk to one of our GuildSuper Consultants to find out more the fund, call on 1300 361 477.

Customer service isn't just about smiling at the cashier. It's about delivering services that suit customers' needs. EFTPOS is an efficient and easy method of payment for your customers.

Guild have used its buying power to secure discounted rates on EFTPOS transactions for pharmacies. If you're already with another provider we can seamlessly transfer your EFTPOS facility, eliminating any transactional downtime.

Talk to a Financial Services Consultant to receive a free assessment of your potential savings on EFTPOS at your pharmacy, call on 1300 365 899.

The importance of developing strong Human Resources skills shouldn't be underestimated.

Whether or not you have experience in leadership and managing employees, you will know from your own experiences the importance of having a good boss, and how they can influence achieving a happy and hard-working environment.

Leadership skills aren't developed overnight. The best way to learn and improve is to read books about leadership, talk to others with experience, and analyse your behaviour and the reactions it produces.

Look into the next professional life stage on this site to see the kinds of questions that you will have to consider in due time and read the advice and services available for you.