How Much Time Is Involved In Selling a Pharmacy?
Anyone who has ever said, “it’s time to sell my pharmacy,” and followed through with the process knows it’s a complex process with many details that need attention. To complicate matters, selling a pharmacy business is different from selling other types of businesses because of pharmacy businesses’ regulatory requirements. For this reason, many choose to sell their business through an experienced broker familiar with pharmacy business sales. In many ways, a pharmacy business sale is similar to selling other small businesses. After telling yourself, “I am going to sell my pharmacy,” you will need to determine whether you’re selling stock or assets, how the business will be transferred to the new owner, as well as the structure of the company. Once the decision to sell has been made, determine when you would like to be free of the business. In other words, decide on an exit date. Next month is too soon, but this time next year, or in other words 12 months, is a reasonable timeline.