Guest Blog Series
Having to sit down and talk with your loved ones about your mortality, regardless of your stage in life, is a moment no one looks forward to.
It is essential however that your legacy is protected by ensuring your assets and business interests are adequately protected and distributed in accordance with your wishes after your death. It is vital to prepare a complete estate plan with a qualified and experienced estate planning lawyer.
Buying a pharmacy is one of the biggest investment decisions you are likely to make.
It is a significant investment, involves significant debt, and accordingly deserves significant levels of analysis and advice to ensure you are being as careful as possible. Any business undertaking of this size involves a degree of risk, and any process that helps you reduce that risk, and gives you a greater knowledge about the financial aspects of the pharmacy that should be considered. For those pharmacists who are thinking of buying a pharmacy, understanding the due diligence process is vital.
Since 30 June 2018 valuation activity has certainly been very high.
We have seen activity pick up strongly over the last 4 months and it is looking like it will continue. As we are in the middle of the current CPA cycle demand for pharmacies is strong, particularly in the sub $3m market. We have seen several pharmacies being sold and the numbers of buyers coming to us for guidance and assistance has also grown.
