What we have also noticed with the industry in general is that in 2022, newly established owners, young pharmacists and first-time buyers are competing with larger “corporate” pharmacy groups. In a time when the values are significant and as is typical of our industry, there are always more buyers than there are supply of pharmacies.
You can have the best advisors (accountants, lawyers, financiers etc) within your A team and they will be extremely supportive. However, more times than not, it is your support network (significant other and family) that will be there in the good times but also the dark times. Don’t forget they are usually the reason you are considering this journey and they should be involved in this journey of pharmacy partnership at every stage.
Do Turf Protection Strategies Really Work?
It is interesting to see the response of any industry to a threat, and particularly how some individuals respond. With every industry there are always threats, and if you are heading into business ownership, this is a reality you must face. In pharmacy land particularly in WA with the growing presence of Chemist Warehouse (CW), the overwhelming response has been fear and defensiveness.
