Owning a pharmacy is a unique business venture, and you might not realize the amount of work involved compared to other businesses. If you have been thinking about selling your pharmacy, there are a few different ways you can go about the process. This guide will help you see why a pharmacy broker is the best choice in your predicament.
1. A pharmacy broker will help you sell to a chain.
A chain pharmacy understands how to devalue a pharmacy before negotiations even begin. Without adequate representation from a pharmacy broker like Schectman Pharmacy Brokers, you may be selling for a price that does not accurately portray the value of the business you have built.
2. A wholesaler isn't focused on the best price.
Many pharmacy owners will opt to work through a wholesaler to find a buyer, sometimes even at no cost to you. The truth is that a wholesaler does not have your best interest in mind. They are focused on keeping a business intact rather than valuing your business accurately. This is where a pharmacy broker comes in.
3. Some companies are not legally licensed to work with pharmacies.
In order to buy or sell a pharmacy, a regular broker or consultant should be licensed. Failing to work with somebody who has this license could have legal consequences for your business. When you work with a pharmacy broker, you ensure that you are working with somebody licensed to help you with your business.
4. A pharmacy broker understands the value of your business.
Pharmacy brokers have worked with other businesses just like yours, so they understand the value of your business more accurately than anybody else. With an accurate value, you can sell your business and receive the amount you deserve.
5. Pharmacy brokers work better than an accountant or lawyer.
Unfortunately, most accountants and lawyers have never actually worked with pharmacies before. They may place a lesser value than you deserve on your business due to this lack of familiarity. Pharmacy brokers are much more familiar with the practice, including potential government issues you may have to deal with.
6. Pharmacy brokers handle every aspect of the sale.
These brokers understand how you can best get started with the sales process. Pharmacy brokers understand how you can best value your pharmacy and prepare it for the big day.
Ultimately, selling your pharmacy is a big deal. The process is simplified when you work with somebody who has done this all before.