July 1, 2024 | Pharmacy
Selling a pharmacy is an impactful event that requires careful preparation and a good understanding of crucial negotiation aspects. Getting your pharmacy ready to be sold means not just maximising its worth, but also making sure it meets legal standards and passes all necessary due diligence checks. Our latest blog for pharmacy sellers offers help and detailed knowledge of these steps.
Primary Steps and help to Market Your Pharmacy
Grasp the Various Types of Pharmacy Sales:
- Asset Sale: Where the purchase of your business is based on transferring the goodwill and assets, including fixtures and fittings to the buyer or their company.
- Share Sale: The sale of the shares of your limited company. This will mean that all contracts and accounts remain with the limited company and the buyer or their company takes over the existing set up. It’s usually more intricate but may offer tax benefits.
Optimize Lease Agreements to help you sell your pharmacy
If your pharmacy operates from leased premises, understanding what’s required and what exists within the lease terms is crucial. Ensure that the lease is transferrable and that there’s 10 year plus remaining or establish suitable terms with the landlord for a new long term lease. Doing this will make the business more attractive to potential buyers.
Help selling your pharmacy – Prepare for Operational Transition:
Develop a comprehensive transition plan that includes training for the new owner and staff. This can include procedures for handling prescriptions, managing inventory, and customer service protocols.
How Our Webinar Can Support your Pharmacy Sale
Our webinar extensively covers the vital steps and considerations needed to prepare your pharmacy for sale. From navigating complex legal procedures to understanding the intricacies of financial due diligence, you’ll gain valuable insights and actionable strategies to enhance your readiness for a successful transaction. Equip yourself with the knowledge to approach negotiations confidently and ensure a smooth transition of ownership.
Webinar Information:
- Title: Legal 101 For Pharmacy Sellers: Exit & Retirement Strategy Planning
Experts from Carter Bond will walk you through the legal intricacies of selling your pharmacy, focusing on understanding negotiation tactics for successful pharmacy sales. Whether you are new to this or have been through the process before, this webinar will offer invaluable insights to ensure you are fully prepared for what lies ahead. While free legal advice may not be available, we can assist you through the process and provide valuable insight for the future!
To find out more about selling your pharmacy please call our expert team on 01423 642190 or contact us to find out more!
July 1, 2024 | Pharmacy
