What Happens if You Hire the Wrong Pharmacy Sale Advisor?

CHOOSING THE WRONG ADVISOR CAN COST YOU TIME AND MONEY

National Broker Average: 11% – 25%

My Average: 90+%

A True Story

Here is a true story: A pharmacist and his wife called me about selling their pharmacy. After analyzing their previous 3 years of tax returns, I calculated a market value based on the different types of buyers they would be likely to attract. I let them know exactly the range of what the business was worth, what they could expect and when they could expect to close. I could go into detail about how that call went, but the bottom line is they thought the business was worth more because another broker wanted to win their business and stated a price that was too high.

The Stakes Are High 

After I informed the seller of their target valuation, they told me they would “think about it”. I didn’t hear from them for almost 2 years…but they did get back to me.

“Aaron can you help us? We hired a broker, and we have been at this for almost 2 years and our business still isn’t sold, and we really need to sell it.”

I asked, “Why did you hire another broker?” She said “Because they suggested a higher price range. The other broker told us we could list at one price and people would just bit lower.” I gave her very candid and frank advice, and explained:  “If you go to the market with too high of a price, the buyers and their advisors will just ignore the opportunity because they think the seller has unrealistic expectations and they will be wasting their time. A good business broker would have never led you down this path!”

Choosing the Wrong Business Broker Hurts

The sellers in this true story, a husband and wife, are worn out and now they had health problems. During this time, Sales and profits dropped, making the business worth less than when they started the process…all because they chose the wrong business broker, someone who didn’t know the market and just didn’t deliver results. A broker that made promises they could not deliver. A broker who takes on too many clients and doesn’t select the ones he can close and then focus relentlessly on them.

We won’t let this happen to you, make Colony RX part of your success strategy from the start and you will potentially save years of heartache. Call us today for a free, no-obligation discussion.