To successfully sell your pharmacy, timing is everything
WSPC is here to help ensure that we preserve independent pharmacy by connecting and maintaining independent owners. If you are thinking of selling your pharmacy in the next one, three, or five years, then now is the time to begin.
Crossing the t’s and dotting the i’s will help you achieve a successful sale. Take some time to assess your professional and succession goals. The most critical of all the questions is “What is your timeline?” It’s never too soon to develop a plan to achieve your goals.
The six keys to a smooth and seamless succession plan
The goal of WSPC is to provide you with a successful and professional outcome on your journey. As your business partner throughout the entire process, WSPC gives you access to members of the WSPC leadership team who have recently bought or sold pharmacies and can assist with your questions. Also, members have access to expert advice to help coordinate resources at no charge to you. WSPC offers:
- Professional, confidential expertise with a personal touch and knowledge in buying and selling pharmacies.
- A non-disclosure agreement to ensure complete confidentially for all documents and conversations presented.
- A business valuation that will determine the worth of the pharmacy based on the fair market value of the business. Our team can also identify opportunities for improvement and advise you if other sources can help increase the business efficiencies, operations, and value of the pharmacy.
- Help to develop a transition plan if succession planning is the purpose of the sale. The sale of a pharmacy can take from six to eighteen months, and it is prudent to identify and prepare for any “bumps in the road.”
- An active role in your business transition to help reduce outside pressures and help maintain and grow value.
- Industry insight and assistance, including recommendations for the transition of third-party contracts, setting up supplier accounts, licensing and compliance matters, employment, personnel and payroll considerations, and commercial lease assignments.
Western States Pharmacy Coalition is committed to helping ensure a helpful transition and enhancing your profitability. Contact one of our strategic business managers, Melissa Ellis, Victoria Maurino, or Erica Willson, and they will assist you in beginning the process. Contact us at 844-977-2498 or [email protected].
