ASPIRING pharmacy owners are being urged to prepare their finances and do their homework before going to the market looking to secure a store, by Attain Business Brokers Director, Natalie Sirianni.
In a buyer-focused edition of the Sirianni Market Update, Sirianni said preparation was key to making a successful pharmacy acquisition.
"Sometimes buyers can move a bit too slowly," she said.
"They don't have the information prepared, they don't have their finance ready to go and that means they can miss out on good opportunities, because what we have to remember is there is really strong demand in particular locations - particularly if you're looking at metropolitan Melbourne or metropolitan Sydney pharmacies.
"So it's really important that you have everything ready to go so you can move on those opportunities as they come up."
Sirianni added that while accessing advice from experts is important for those looking to get into pharmacy ownership "it's really important to remember that it's your money that you're putting on the line".
"As the pharmacy buyer it's really important that you understand what's going on and you make your own decisions in that regard," she said.
"Have people around you that can help you keep that rational frame of mind, because it's easy to get caught up in the emotion [of buying a pharmacy]."
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