Selling your Pharmacy Business
When selling a pharmacy business, the key considerations for sellers are to achieve the asking price, exit quickly and cleanly and keep professional costs down. In order to achieve this, it is vital that sellers are well-prepared with compliant and complete documentation. Our experience has shown that very often the same issues crop up resulting in delays, additional costs and opportunities for buyers to re-negotiate prices and request retentions. To increase your chances for a smooth process – plan ahead!
List your pharmacy business for sale on our website for just £100, and then its ``agreed fixed amount`` once the business is sold.
In an asset sale, you sell the pharmacy business, including its equipment,stock, NHS contract, property and goodwill. This will involve a change of ownership application. In a share sale, you sell the shares in the company which operates the pharmacy. No change of ownership application is needed but the buyer takes on all the assets and liabilities of the company. If the business is owned by a limited company, it is likely to be more tax efficient to sell the shares in the company, rather than the business as a going concern. Your tax and legal advisers can work with you from the outset to ensure your sale is structured to meet your tax position.
Once you have accepted an offer, it is sensible to agree a short “heads of terms” document with the buyer. This will help set expectations for the timescale and structure of the sale and will cover price, financial structure, timescales, confidentiality of your information and whether you are willing to offer an exclusivity period.
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