Selling Your Pharmacy

Selling a pharmacy is a complicated process that involves many difficult decisions. For most owners the pharmacy is their biggest personal asset. It is difficult being impartial after years of work growing the business. Some of the issues are:

     How do I find a suitable and qualified buyer?
     How long does the process take?
     How do I keep the process confidential?
     How will I document the transfer?
     How will a buyer value my business?

Tough questions because each one impacts a subset of issues that require close attention. Washburn & Associates maintains it's own database of buyers plus a network of co-brokers and affiliates. We rely heavily on our research capabilities to aggressively market businesses discreetly both locally and nationally. It is important to note that each sale is handled on a personal basis. Our approach to in-depth buyer interviews insures that we only bring you qualified buyers.  

The Process

1. A buyer, which has been pre-qualified by Washburn & Associates, requests our services in finding an appropriate store in a designated area to purchase.   

2. We, at Washburn & Associates, use our talents to conduct an "Acquisition Search", which will lead to matching the buyer with an appropriate seller. 

3. Initial interviews will determine if the location meets the buyer's criteria.   

4. A price range is provided to determine if it meets the seller's expectations.   

5. An acquisition analysis, or what we call a "Detailed Analysis" is completed. This allows Washburn & Associates to evaluate assets, inventory, financial trends, local demographics, strengths and weaknesses of the business, short and long range potential, etc. 

6. Site surveys of the store and the local area are discretely conducted. 

7. The buyer is provided an "Executive Summary" to allow them an opportunity to determine if the location and aspects of the business will complement the buyer's goals.   

8. If the buyer decides to move forward, a "Letter of Interest" is negotiated; this sets forth the terms and conditions of the sale to be agreed upon before the "purchase Agreement" is prepared. 

9. A Purchase Agreement will be signed stating the agreed upon terms of the sale price, Employment Contracts, Non-Compete clauses, Lease Assumption and "Termination Agreements, etc.  

10. All closing documents will have been pre-approved prior to closing. An inventory count is taken the day of closing, at this time the price is adjusted to reflect inventory changes and all liens against the business, as they must be cleared.  Remaining funds are then transferred to the seller and the seller pays Washburn & Associates.