10 Deal Breakers to Dodge When Buying or Selling A Pharmacy

10 Deal Breakers to Dodge When Buying or Selling A Pharmacy

1. Don’t be emotional and have unrealistic price expectations for your business. If you are ready to sell, take the best offer you get and move on with your life.

2. Don’t tell someone you are interested in selling your pharmacy if you are not reasonably certain that you are.

3. Don’t share confidential information about your pharmacy with a potential buyer who doesn’t send you a confidentiality certificate.

4. Don’t let your sales drop after you put your business on the market.

5. If you have something to disclose, then disclose it early.

6. Be responsive. Not returning phone calls or e-mails can make a transaction more effort than it is worth

7. Get as many terms upfront in a detailed Letter of Intent.

8. Don’t sign the letter of intent if you are uncomfortable with something in contains. The time to raise issues is early.

9. Set deadlines and keep them.

10. Don’t hire a broker if you have a ready buyer.

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Trackbacks & Pings

  • A Review of the Emotional Journey of Selling Your Pharmacy - Sell Your Pharmacy To Colony :

    […] ColonyRX helps answer these issues by working with you through the process. Fundamentally, working with you sets the tone for what you’ll be doing today, tomorrow and five years down the road, and makes sure all of these questions are answered so there will be no surprises. We also encourage you to communicate with their family. As a business owner, your family has been a part of the company’s journey, and like you, they may need some time to prepare for the fact that the business will no longer be a part of your daily family life. By involving your family in the decision making process, you can help prepare them for the transition and create an atmosphere of emotional support throughout the sale. […]

    3 years ago

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