Why It’s Worth Your While
All of our Associate-Owners can move forward with financial confidence. Why? No initial capital investment is required on your part and no personal assets need to be pledged to Shoppers Drug Mart, banks, or suppliers.
Shoppers Drug Mart offers all Associate-Owners a minimum level of earnings which is presently $120,000 per annum. This provides assurance to the Associate-Owner that his or her basic financial needs will be met. In addition, Associate-Owners have the ability to generate additional earnings based upon the performance of the business. As the profitability of the store increases, so do the Associate-Owner earnings.
In addition, Associate-Owners may be eligible to participate in the Associate-Owner group RRSP program (ASSET), where Shoppers Drug Mart will contribute up to $5,000* each year. This contribution is used to purchase shares of Shoppers Drug Mart Corporation.
Associate-Owners also participate in group insurance programs providing Life Insurance, Accidental Death and Dismemberment, Dental, Major Medical and Long Term Disability.
How Does It Work?
Starting out as an Associate-Owner, you will incorporate your own company. Associate-Owners will have the ability to grow equity within their corporation. The Associate-Owner is required to build up and maintain equity in his or her business based on a pre-determined formula.
The Associate-Owner corporation will also be eligible for those benefits available to corporations, including lower corporate tax rates and potential income splitting between you and your spouse.
The exact tax benefits are dependent on each Associate-Owner’s personal situation and should be determined only after consultation with a professional tax advisor. Upon retirement, long-serving Associate-Owners may be eligible to sell the shares of their corporation to a new Associate-Owner in order to benefit from any available capital gains exemption.*
With your enthusiasm and drive to succeed, you can take the next step in realizing your dream of owning a successful pharmacy business!
* Eligibility criteria exists for certain programs. Please discuss details with your Pharmacy Recruitment Specialist or District Manager.