Pharmacy rentals on the agenda at Pharmacy Connect 2022

Pharmacy owners and managers attending this year’s Pharmacy Connect will be provided with expert advice on how to best position and negotiate lease arrangements, in a dedicated session presented by one of Australia’s leading industry experts.

Pharmacy Connect is the Pharmacy Guild of Australia’s key event in the second half of the year and is being held on 1-3 September at the Hilton Sydney.

The rentals session, titled ‘Pharmacy rentals: Covid-19 impact – where are we heading?’ will outline some of the key take-outs from The Pharmacy Guild of Australia Rental Report and will discuss how meticulous planning is key before any rental negotiation.

The session will be presented by pharmacy rentals expert and Director of Lease 1, Phil Chapman.

Mr Chapman has worked in the pharmacy sector for over 20 years, during which time he has contributed annually to pharmacy rental reports and pharmacy sales reporting guidelines and presented at numerous pharmacy industry events.

Mr Chapman said community pharmacy needs to understand that in a rental agreement, you are actually leasing time, not space.

“Pharmacists need to understand the importance of leveraging time when it comes to their leases and why post-Covid, this has become critical for pharmacy,” Mr Chapman said.

“The competition for new pharmacy locations is currently overcooked, and with the cost of building new centres escalating, this session will divulge the formulas to assess how big a pharmacy you need and how much you should be paying for it.”

“Also, research shows that more than ever owners are looking to sell in the next 24 months – how can you ensure your lease is an asset that adds value to your business?”

In addition to the pharmacy rentals session, the Pharmacy Connect program features business-focused sessions on buying and selling pharmacies, setting and maintaining a budget and forecasting, and the impact of the economic environment on health and pharmacy services.

The program also features clinical content and industry updates. To view the full Pharmacy Connect conference program and to register at the early bird rate, visit: pharmacy-connect.com.au.

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