I read an interesting article about property investment this morning that concluded the best way to successfully invest in property was to do so with the following in mind:
- Buy in a growth area;
- Buy at or below market; and
- Buy where you can add value to the opportunity.
These apply to the pharmacy market too - albeit the returns in pharmacy are far superior to those in property!
More desirable pharmacy locations are being sold quickly (and often at premiums to the market). Most pharmacy buyers want a very similar pharmacy - "a community strip pharmacy that supports more than one pharmacist, with opportunity to improve the site and being sold at a reasonable yield rate". Hence these businesses are often snapped up quickly and at a premium to the market.
So in order to reap the benefits of a strong investment, you may need to look outside this "ideal" opportunity.
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