If you own an independent pharmacy, and you are ready to sell your business to another individual or to a chain, you are going to want to enlist the assistance of a pharmacy broker. A pharmacy broker can help with the sale and ensure that your best interest are taken into consideration and met during the selling process.
#1 They Create A Market For Your Business
When you work with a pharmacy broker, they can help create a market for your business. They will present your business to multiple buyers, varying from chains to other local pharmacies, to see who is interested in purchasing your business. From there, they will create interest and use that interest to drive the price of your business higher. The more individuals who are interested in your business, the more value that your business has to those buyers. Multiple buyers help increase the overall value of your business.
A broker is most interested in getting you as much money as possible for your business. When you work with someone else who has different financial interests outside of your own, such as a wholesaler, they may not work to drive up the selling price of your business. They may be more focused on finding a buyer that will keep your pharmacy running instead of finding the buyer that will pay you the most for your business.
#2 They Carry The Correct License
Selling a pharmacy is not the same as selling your house. When you sell a pharmacy, you need to make sure that the company assisting with the sale of your business has all of the right qualifications. You need to work with both a registered pharmacist as well as a registered pharmacy industry specialist who has the right license to sell your business.
Always check the license of anyone who is helping you sell your business. You don't want to set up a sale only to have it fall through because the broker you hired didn't have the right license for this type of sale. Check with your state if you are unsure of what licenses are required for the sale of a pharmacy in your state.
When getting rid of your independent pharmacy, make sure that you use a broker who is invested in your financial situation and who has the right licenses to sell a pharmacy in your state. A licensed broker can help drive up the cost of your business and can ensure that the sale goes through. Contact one, like Schectman Pharmacy Brokers, for more help.