First of all, your goal is to define the exact characteristics of your pharmacy's financial situation, so that you can overcome the difficulties it faces.
Ideally, you should start by researching and identifying the real causes of the problem.
What are the reasons of those financial downturns?
Customer turnover has decreased due to e.g. work on the sidewalk?
Do you perform works inside the pharmacy?
Has a new large drugstore opened into your neighborhood and makes great offers?
What are the reasons of the reduced profits?
Before you start searching for all the possible solutions, you must consider the potential risks that may arise through them, because those risks can cause structural difficulties and will require in-depth solutions: debt restructuring, new partners, merge, transfer…
The main first step you need to take is to adjust your personal income to the pharmacy's financial capability.
You have to take some advices from your financial advisor (accountant), who has a key role for you.
He will fully inform you with all the possible scenarios that can be made, without having to wait for the difficulties, because then, you will have to act afterwards.
At the same time, if you already have a current loan, you have to negotiate the terms with the bank and your banker, so that you can get some exemption for some months and pay only the credit interest during this difficult period.
Of course, in order to raise your income, you need to take some steps in managing the daily life of the pharmacy.
For example, reducing inventory in the warehouse, reducing employees and make sure not to exceed payment deadlines.
If you notice a reduced customer attendance, adjust the schedules of your partners according to workload, and after their consent, according to their renewed work contract.