Are you looking to buy a pharmacy in Aberdeen?
Whether you are a first-time buyer looking for pharmacies for sale in the Aberdeen area, or a seasoned buyer, our pharmacy acquisition experts at Prospect Estates will be able to talk you through your options and cover every aspect of the process.
Acquiring a pharmacy in Aberdeen presents several compelling advantages. The city benefits from a robust and stable economy, underpinned by the oil and gas industry, alongside key sectors such as education and healthcare. Aberdeen’s diverse and expanding population, which includes a significant student demographic, ensures a steady demand for pharmaceutical services.
Prospect Estates work with a wide range of pharmacies in the Aberdeen area that are actively looking to sell, so please get in touch to find out about our latest opportunities.
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Frequently asked questions
What are the key advantages of buying a pharmacy in Aberdeen?
• Strong Local Economy: Aberdeen boasts a strong local economy driven by the energy sector, particularly oil and gas, as well as industries such as technology, education, and healthcare. This economic stability provides a solid customer base for pharmacies, ensuring long-term demand for pharmaceutical services.
• Diverse and Growing Population: The city has a diverse and growing population, including professionals, students, and retirees. Aberdeen is also home to a significant international community, which ensures a steady and varied demand for pharmaceutical products and services, including prescription medications, health consultations, and over-the-counter products.
• University and Student Population: With the University of Aberdeen and Robert Gordon University located in the city, there is a large student population. This demographic creates demand for both general pharmacy services and specialised products, such as health supplements, first-aid supplies, and over-the-counter medications, as well as health advice.
What aspects of the pharmacy premises should I look for?
• Condition of the property: Check the condition of the building, equipment, and facilities. Are they in good repair?
• Size and layout: Ensure the space is appropriately sized for current operations and potential future growth.
• Lease terms: If the pharmacy is leased, evaluate the lease terms, including rent, duration, and any clauses that could impact long-term stability.
What should I look for in a pharmacy’s Reputation and Customer Base?
• Customer loyalty: Investigate the pharmacy’s relationship with its customers and how loyal they are.
• Online reviews: Check online platforms for customer feedback to get a sense of the pharmacy’s reputation in the local community.
• Brand and marketing: Understand the pharmacy’s brand presence, marketing efforts, and how well it engages with the local population.
What key aspects of the Financial Health of the business should I consider when acquiring a pharmacy?
• Profitability: Review the pharmacy’s financial statements, including income, expenses, and profit margins.
• Revenue streams: Understand the income sources, such as NHS prescriptions, private sales, and over-the-counter products.
• Cash flow: Assess the pharmacy’s ability to generate consistent cash flow to cover expenses and reinvest in the business.
• Debts and liabilities: Check for any outstanding debts, loans, or financial obligations that could affect the business.
• At Prospect Estates, we have put together a carefully selected panel of finance brokers and lenders who can help you with your acquisition finance requirements. Find out more here.
Where can I get more guidance on the pharmacy acquisition process?
• Whether you’re a first-time buyer or a seasoned owner, our webinar offers expert advice on the process of buying a pharmacy.
• Join Nathan Atkinson, Director of Prospect Estates, and the legal experts from Carter Bond Solicitors in this essential webinar.
• This session will simplify the pharmacy acquisition process and highlight key pitfalls to avoid.
What is the process for purchasing a pharmacy?
• Read our simplified guide to buying a business and make sure that you get every element right. We can help guide you through each stage of the process.
• If you are interested in acquiring but you’re struggling with any part of the process or just don’t know where to start, then just get in touch.
