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The reality is that most pharmacies are owned by pharmacists who have poured their heart and soul into creating a business that has real value. Maximizing that value when you sell is crucial, which is why it’s important to have a trusted adviser working with you to ensure you unwind your ownership in the correct way.
Selling your pharmacy is a process with a lot of moving parts and, unfortunately, many times steps may be missed or wrong steps may be taken, which leads to a seller leaving money on the table.
As the seller, it’s important to understand your role and what will be expected of you throughout the selling process. Knowing how to approach this process will determine how successful the outcome is for you. Every buyer will perform a certain level of due diligence, and you will be expected to act in good faith to provide them with the necessary information. The seller is expected to be transparent with their financial and store information, so that a buyer can make an informed decision of whether or not to pursue the pharmacy for purchase.