PERSONAL and workforce issues are the key factors pharmacy owners consider when planning the timing of a sale of a store, the latest Attain Business Brokers Market Sentiment Survey reveals.
The latest edition of the survey found that 63% of respondents are looking to buy a pharmacy, with close to one-in-four aiming to make a purchase within the next six months.
Attain Director, Natalie Sirianni, said the poll's findings showed the pharmacy business market has remained strong, with just over half of owners surveyed reporting their intent to sell a pharmacy within the next five years, and 84% saying that family and personal issues would influence the timing of a sale, while 43% said pharmacy workforce availability would have a bearing on when they would sell.
"There is very positive market sentiment for the pharmacy business sales market from both buyers and sellers," she said.
"Also there is some good news in this iteration of the survey, which showed a significant increase in the percentage of pharmacy owners looking to sell within the next two years, up to 35.1%.
"This is the highest we have seen this rate since the survey commenced in Jul 2020."
The survey also revealed that the majority of pharmacists surveyed believe pharmacy valuations will increase over the next 12 months.
However, the proportion of pharmacists who expect pharmacy prices to grow has fallen from a high of 65% in the Mar/Apr survey period, to 53.5% in Aug/Sep, with almost one-in-three respondents forecasting that valuations will remain flat in the coming months.
The above article was sent to subscribers in Pharmacy Daily's issue from 11 Oct 22
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