An Overview of Buying and Selling Pharmacies

 

You may be asking yourself, “How do I sell my pharmacy?”

It can be a daunting task if you’ve never done it before. And that’s why leaning on the expertise of pharmacy business consultants is so essential.

Steps to Sell My Pharmacy

Selling a pharmacy business isn’t like selling a house, and it involves unique complexities that the experts live and breathe.

Here are the five steps in selling a pharmacy.

1. Analysis and Valuation

Ask any military strategist, and they will tell you, the person with the most information wins. It’s no different when you are selling your pharmacy. You need to know more about your pharmacy than they plan to learn. I’m not encouraging deception in any manner; you need to understand what drives your value, what it’s worth before going into “battle” with your potential buyers.

2. Marketing Preparation

Once your valuation and analysis are complete, you need to put all this data and information into a presentable form for your buyers. It’s equally important to select the right buyers, or as we say, put together a “qualified buyers list” or “QBL.” You will also need to have your lawyer prepare a non-disclosure agreement for your buyers to sign.

3. Bid Process

The bid process is a critical moment in the sale process. This is when you “expose” your business to the market. It is going to go under a microscope, and it is advisable to utilize a professional intermediary for this step. Nothing is more personal than selling the business that fed your family, but emotions do not always serve you well while negotiating price and terms.

Source- https://www.evcor.com/blog/an-overview-of-buying-and-selling-pharmacies/