• Call anytime for a free discussion. Tel: (681) 238-9066.
• Do not share information with a potential buyer before speaking with us.
Ozempic may help your patients lose weight, but it’s brutal for pharmacy, and the trend will get worse. This e-mail describes the problem and what to do about it. I recently received a call from someone who wanted to sell because his store was not making profit anymore. His accountant was getting worried. I looked […]
We are receiving a panicked calls from pharmacies whose wholesalers will not send them controls. The pharmacies are adamant that they are operating as usual or the problem that triggered the issue is not their fault. First, some background. Wholesalers used to ship pharmacies controls with few questions asked. Then the opioid epidemic came and […]
When making the decision whether to sell your business there are three types of timing considerations: To achieve perfect timing, you would be mentally prepared to sell when the company is coming off several great years. In addition, interest rates would be low, financing would be readily available, capital gains taxes would be low and […]
This may be the most problematic obstacle of all the impediments faced by sellers. Whereas a great majority of the obstacles are somewhat within sellers’ control, that is not necessarily the case with transferring a facility lease. Landlords can be unpredictable and typically have a lot of leverage in lease negotiations with prospective buyers. Become […]
Maintaining confidentiality in the process of selling your pharmacy is absolutely critical. Although there are numerous overwhelming reasons to use a professional intermediary when selling your business, confidentiality would be very near the top. If you try to sell the business yourself, it is almost impossible to maintain confidentiality. Experienced brokers know how to control […]
Understand who your buyer is – and is not – and tailor your message to them. Sellers Must Understand Buyers’ Motivations When Selling a Business In making the decision to pursue an acquisition of an existing business, buyers have multiple motivations, among them: controlling their own destiny; more freedom and flexibility in their daily lives; […]
For most owners, the decision to sell their business is very emotional. It’s their baby. Their personal identity is tied to the business. It’s who they are. And they have poured a lot of blood, sweat and tears into nurturing the business through good times and bad. It’s almost as if the business is a […]
Negotiations in the sale of a business are seldom easy. You need to be prepared for an emotional roller coaster ride. In small business sales, in most instances, negotiations are between a first-time buyer and a first-time seller. The negotiations typically involve the biggest and most important transaction of both parties’ careers. And both parties […]
Developing trust early in the relationship between sellers and buyers is one of the keys to a successful business sale. Much of that responsibility belongs to the intermediary representing the seller. You should disclose knows issues upfront, but certain things, even really bad things, do not have to be disclosed. Disclose known issues up front […]
On lists of deal-killers, this obstacle is often near the very top. Nothing is more important than keeping your focus on maintaining the operations and profitability of your business while you are involved in the sale process. Owners losing focus happens often for two reasons: (1) after going through the emotional decision of making the […]
These risks apply especially to pharmacies in a small town or with untrustworthy competitors. The possibility of a confidentiality breach increases exponentially when you have conversations with industry insiders, or friends, (or even with some unethical brokers) and utter words such as “if there were a buyer…” Individuals you talk with who have not signed […]
It’s best to eliminate skimming cash and the running of excessive personal expenses through the company, or the skimming of cash, several years before selling your business. Properly documented personal expenses run through the business, which have nothing to with operating the business, can be added back into EBIDA, so long as you have documentation […]
Owners need to be aware that large working capital requirements can be an obstacle to salability or, more likely, to maximizing the value of a pharmacy. We see this especially in specialty stores, but even stores that have lots of Humira, insulin, Ozempic or other expensive drugs. Our first piece of advice on this issue, […]
In my first call with pharmacy owners, I ask if they own or lease their building. If they say they own it, I ask how much its worth. If that number is too high (and it doesn’t have other tenants) compared to the profit the pharmacy makes, the owner’s options are limited. A similar thing […]
Minimizing buyers’ risk not only aids the salability of your business, tackling the issues improves the prospects and profitability of your business. Your reward is putting more money in your pocket during your period of ownership. That’s why it is never too early to start! All Buyers are concerned about risk As buyers look at […]
When a business owner dies (or becomes incapacitated) earlier than expected without a contingency plan to deal with the situation, it can be fatal to the business. Plan today to avoid catastrophe. When a business owner dies (or becomes incapacitated) earlier than expected without a contingency plan to deal with the situation, often the company […]
If you owned a home with five bedrooms and three baths in a neighborhood with similar homes selling for $450,000, and you decided to sell, would you put it on the market with an asking price of $700,000? Of course not. You would know it would be a big waste of your time and effort. […]
Underwriting criteria is much more restrictive since September, 2008 Prior to the credit crisis in September 2008, it was usually possible for prospective buyers to obtain SBA loans without the seller participating in the financing of an acquisition. After that crisis, the SBA underwriting criteria is now much more restrictive. In addition, the SBA is […]
What will you do after you sell? Next Steps Call ColonyRX and tell us what you want to do after you sell. We will get you to that goal a quickly as possible.
The following is a list of questions for you to ponder that might help clarify your thoughts as to whether you should consider selling your business Is your interest in the business waning for any of the following reasons? Personal burnout? Boredom? Fatigue? On a daily basis, do you enjoy the functions you perform? Are […]
A Favorite Famous Quote“Most people spend more time and energy going aroundproblems than in trying to solve them.” Henry Ford Lack of Required Approvals from StakeholdersIt’s hard to believe, but it happens. Owners put their business up for sale without reaching an agreement with other shareholders, partners or stakeholders who own a portion of the business […]
In a team environment, it’s important for colleagues to develop healthy relationships that allow them to trust each other. When one of the members starts expressing toxic behaviour, it can be challenging for the team to operate smoothly and maintain high efficiency and productivity levels. Learning how to deal with negative behaviour in the workplace […]
We receive a staggering number of calls from pharmacy owners who have been burned out for the past few years and want out. If these pharmacy owners don’t move sooner than later, they will ruin the value of their business. All business owners run the risk of “burn-out.” With the stress of being the go-to […]