The current unprecedented financial challenges have forced some pharmacy owners to accelerate their plans to sell up and cash out. But, perhaps counter-intuitively given the economic pressures contractors face, pharmacy brokers tell C+D that it is still very much a seller’s market – where demand for pharmacies often outstrips supply.
Anne Hutchings, managing director of pharmacy broker Hutchings Consultants, has seen a 10% increase in the number of new buyers registering on the company’s database in the last 12 months.
Rather than put prospective buyers off investing in the sector, the difficult financial climate in England seems to be encouraging them to make the most of the opportunities to find a pharmacy “they can develop and expand”, she says.
There may be interest in “a business where perhaps