Would you be interested in maximizing the money you receive
when making the decision to sell a pharmacy?

   

Selling Your Pharmacy
Can Be a Difficult Decision

 

Most business owners find that selling their business is one of the most important events in their life, both professionally and personally. Handled properly, it can be very rewarding. Handled poorly, it can become a perilous chore especially if employees, customers, vendors, and competition learn the business is for sale.

Selling a pharmacy is a complicated process that involves many difficult decisions. For most owners the pharmacy is their biggest personal asset. It is difficult being impartial after years of work growing the business. Some of the issues are:

     How do I find a suitable and qualified buyer for my pharmacy?
     How long does it take to complete the transaction?
     How do I keep the process my pharmacy confidential?
     How will I document the transfer of my pharmacy to a new owner?
     How will a buyer value my drug store?

Tough questions because each one impacts a subset of issues that require close attention.

Washburn & Associates maintains its own database of pharmacy buyers. We rely heavily on our research capabilities to aggressively market pharmacies and drug stores discreetly both locally and nationally. It is important to note that each sale is handled on a personal basis. Our approach to in-depth buyer interviews insures that we only bring you qualified buyers.

The Process

1. A buyer, which has been pre-qualified by Washburn and Associates, requests our services in finding an appropriate store in a designated area to purchase.

2. We, at Washburn & Associates, use our talents to conduct an "Acquisition Search", which will lead to matching the buyer with an appropriate seller.

3. Initial interviews will determine if the location meets the pharmacy buyer's criteria.

4. A price range is provided to determine if it meets the seller's expectations.

5. An acquisition analysis, or what we call a "Detailed Analysis" is completed. This allows Washburn & Associates to evaluate assets, inventory, financial trends, local demographics, strengths and weaknesses of the business, short and long range potential, etc.

6. Site surveys of the store and the local area are discretely conducted.

7. The pharmacy buyer is provided an "Executive Summary" to allow them an opportunity to determine if the location and aspects of the business will complement the pharmacy buyer's goals.

8. If the pharmacy buyer decides to move forward, a "Letter of Interest" is negotiated; this sets forth the terms and conditions of the sale to be agreed upon, before the "Purchase & Sale Agreement" is prepared.

9. A Purchase & Sale Agreement will be signed stating the agreed upon terms of the sale price, employment contracts, non-compete clauses, lease assumption, termination, etc.

10. All closing documents will have been pre-approved prior to closing. An inventory count is taken the day of closing, at this time the price is adjusted to reflect inventory changes and clear all liens against the business. Remaining funds are then transferred to the pharmacy seller and the seller pays Washburn & Associates.

Contact Washburn & Associates for more information regarding selling a pharmacy.
 

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