Selling a Pharmacy
If you have reached that next chapter in your life, you’ll want to make the most of it. Preparing your pharmacy to sell for top dollar takes expert planning. We can help create a clear picture of what that plan should be by determining the current value of your pharmacy and providing expert help making the right changes to increase that value.
From pre-planning through finding a buyer, transfer and final closing, you’re not alone.
Confidentiality is rule one at PRS; we never share your desire to sell with anyone without your permission. And, yes, that includes your wholesaler and buying group.
PRS offers three services for Sellers. You may choose to utilize one or more of these services based on your individual situation.
The first is the Seller Prep Plan that will ascertain a pharmacy’s current operations, analyzing how to make improvements that will normalize the potential selling price and provide maximum value to the owner. Next, is the Seller/Buyer Offering Plan that will match the interest of potential buyers to owners interested in selling their pharmacy using a customized, focused marketing plan and PRS’s extensive network of buyers and contacts. Finally, upon the sale of a pharmacy, PRS provides the expertise and support to plan and execute all aspects of the transfer of pharmacy ownership by way of the Closing and Transfer Plan. Here is additional detail on each:
The Seller Prep Plan – We take the time to learn everything possible about your pharmacy and location. We will present you with a list of information we need to properly evaluate your current operation and provide our staff what they need to analyze how to improve operations to maximize the selling price. You would be amazed what a few operational tweaks can do for the value of your pharmacy.
We will then put together a customized “Seller Prep Plan”. Once the pharmacy is ready to sell for top dollar, we move on to the next step.
The Seller/Buyer Offering Plan – Some would refer to this as a brokerage service, but it is so much more. We prepare a “Seller Marketing Plan” with customized marketing pieces that profile the highlights of your pharmacy, its community location, quality of life as well as basic financial data. These pieces are designed to entice potential buyers to inquire for more information about your pharmacy and is distributed to potential buyers in our extensive database. A more detailed marketing and financial package is prepared for those buyers who have been pre-qualified and have a signed Confidentiality/Non Disclosure Agreement with us. We then:
- Present your business to pre-qualified buyers, answer questions, negotiate on your behalf
- Prepare offers for your review
- Once you are satisfied with the offer and a deal has been reached, we work to ensure experienced professionals are engaged throughout the closing and transfer process – accountants, attorneys, bankers.
The Closing and Transfer Plan – Perhaps you have a buyer already and just need assistance on the ownership transfer or after we sell your pharmacy, you want to retain us to handle the transfer process. PRS advises sellers and their representatives how to transition smoothly to the new owner in accordance with current rules and regulations.
We are more than just your typical “brokers”. We are pharmacists and pharmacy experts that can assist throughout the selling process. Remember, each of the above Plans is available separately or as a package. You decide what best fits your needs and we will custom tailor a Plan just for you.