The pharmacy business sales market is staying strong, with many pharmacists believing prices are likely to increase, a survey has revealed
A majority of pharmacists believe that pharmacy business sales prices will rise over the next twelve months, a survey has revealed.
The second iteration of the Attain Pharmacy Market Sentiment Survey has found that 58.3% of the sample believe that pharmacy business prices will increase over the next 12 months.
Most (48%) thought prices would “increase slightly” over this period, but just under 10% indicated they believed prices would “increase significantly”.
However more than a quarter of respondents 29%) believed the market will stay flat over that period.
Some of the other key findings include:
- Over 62% of the sample (both pharmacists and current pharmacy owners) are looking to buy a or another pharmacy, with 29.2% saying they were looking to do so within the next 6 months
- Approximately 31% of pharmacy owners in the sample will be looking to sell their pharmacy (or one of) within the next 5 years;
- Just over 10% of current owners say they plan to bring in a junior partner instead of selling.
Among potential buyers, the factor voted as “most challenging” when buying a pharmacy was “finding a pharmacy that meets my criteria”, followed by “Getting access to pharmacies for sale” and “Building up cash and equity to buy”.
The top three preferred locations among those looking to buy are:
- Strip Location
- Small Shopping Centre
- Single Pharmacy Towns & Medical Centres
“The results from the second iteration of our Pharmacy Market Sentiment Survey show that the pharmacy business sales market continues to be quite strong and indicates that this will likely continue,” said Natalie Sirianni, director of Attain.
“The results show very strong buyer demand and that supply of pharmacies on the market is likely to increase within the next 12 months.”
“Overall, these results show positive market sentiment for the pharmacy business sales market from both buyers and sellers. We hope that pharmacists throughout Australia will be able to use this data to assist with their decision making when it comes to buying or selling a pharmacy.”
Ms Sirianni said Attain will continue to be run the survey every 4 months to track the market sentiment and the pharmacy business sales market trends.
The survey was completed by pharmacists and pharmacy owners throughout Australia.
If you have any questions about current pharmacy market conditions and how the interest rate change may affect you, contact Natalie Sirianni at any time on 1300 ATTAIN (288 246).