The year gone was a busy year for us at Pharmacy Solutions. There were 29 sales and numerous consultancy work – mostly in relation to lease negotiations. I am anticipating that 2018 will be very similar with 20 odd current listings and several more close to signing. It is always difficult to predict the volume of pharmacies transacting but, with interest rates low and the net profits of most pharmacies improving, there will be owners wishing to take advantage of the current climate and with a continued under supply of pharmacies for sale, prices being achieved will make this decision to sell a good one.
Many sellers are at retiring age but there is a large number of groups on a growth cycle that wish to exit from the lower performing businesses in order to concentrate on their more profitable businesses. The pharmacies that are being selectively cut are not necessarily poor businesses but rather (for one reason or another) do not fit into the model of some of these group owners. Although having been reasonably quiet in the last 18 months I believe that NSW will become the centre of attention for buyers this year.
So if you are thinking of selling or you are actively seeking a pharmacy (and aren’t in contact with us) please pick up the phone or send me an email.
All the best for 2018.
Managing Director, Pharmacy Solutions Australia
0417 721 203
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