Why a revolving facility and not a loan?

Julia had looked at other finance options. They were more expensive, they were structured as term loans rather than lines of credit, and none of them let her offset undrawn funds.

"I particularly liked that I could leave the funds in the account and not pay interest on them. They're sitting there and I just draw them down when I need them. It's not like a loan where you're paying interest all the time."
Julia Clare, Owner, Broadbeach Pharmacy

• More funding than other lenders (up to 10x weekly PBS income)
• Pharmacy specialists who understand your business
• Quick decisions so you can move at pace
• Flexible credit line with no set repayments
• Only pay for the finance you use

The outcome

The refit

With the facility in place, Julia rebuilt the store. Counters came out, which freed up significant floor space. Two new gondola rows went in and were filled with stock. Overall stock holding increased by around $60,000.

Growth on growth

Sales grew 10% in the first year, then 10% again in the second, roughly 20% over two years, compounding on itself.

An unplanned new service

Julia had built a purpose-built room for cannabis dispensing before taking the facility, but the category proved slow to get off the ground. With funds available to draw on, she changed direction and converted the space to compounding instead.

That meant a $15,000 fume hood, mixing equipment, sending staff to Sydney for four days' training at a significant investment. Compounding is now up and running and growing.

"It wasn't a category I'd planned for in the first place. It was good to have the funds there to draw on to be able to complete that."
Julia, Owner, Broadbeach Pharmacy

From facility to refinance

Two years of growth changed the numbers underneath the business. Julia commissioned a new valuation. Her loan-to-value ratio had fallen significantly, and cash flow was materially stronger.

She took those figures to another financier, secured a refinance on more favourable terms across the board, and paid down the TradeBridge facility.

"The whole process was so streamlined, quick and easy. It enabled me to grow the business and then get the outcome that I wanted: to refinance and have better cash flow and a stronger business."
Julia, Owner, Broadbeach Pharmacy

The pharmacy is now busy enough that the next constraint is people. Julia is looking to add staff.

Julia's advice to other pharmacy owners

Asked what she would say to an owner sitting where she sat two and a half years ago, weighing up the same reservations:

"It's a very sound business, it's gone through the test of time, and I've never had any hiccups. Just don't worry about it and go for it."