Selling your Pharmacy
Are you thinking of retirement or a change of direction in your business life? Our Business sales department, headed by director, Geoff Noden, can help you with all your requirements, from the initial valuation of your business, its marketing, negotiations with prospective purchasers right through to completion. We can recommend pharmacy specialist solicitors, who can advise and guide you through the legal process involved in achieving a satisfactory conclusion to your transaction. Should you require funding, to finance an acquisition, we have contacts, employed by reputable financial institutions which have funds available to invest in pharmacy businesses.
There are many things to be considered when valuing a pharmacy business, such as the location of the business and its proximity to the doctors’ surgeries, the services it provides and also, any competition from other pharmacies in the area. Market values fluctuate and purchasers react to current lending criteria or change in government funding issues. We deal with many potential purchasers and know who is active in a particular area at that time. It is our experience and knowledge that achieves the best price and just as importantly, the best service possible. Another thing to consider are the business premises, whether they are freehold or leasehold and the terms of any existing lease.
You may have decided not to use an experienced agent, preferring to negotiate your own sale. If you have been made an offer directly from a potential purchaser, a valuation report prepared by Ernest J. George & Company, will confirm or refute whether the offer received is a fair reflection of the prevailing market price at the time.
You may not actually be wishing to sell, but still need a current goodwill valuation for various reasons, such as your changing from a sole trader to a limited company or you are looking to relocate or extend your premises. Your lender will require an up to date valuation of your business. Once we receive all the relevant information, we will produce a goodwill report and valuation for your business. You may also wish to consider the terms of any business loans that you may have, as we can offer advice and help, which could save your business money.
We have a number of potential purchasers on our database already but, should you wish to be added to this, please email or telephone us, with the geographical location and the level of turnover required, when seeking to acquire a business.
