Are you ready to own a pharmacy?
Considering buying a pharmacy? Here's what you need to know.
These objectives will serve as your motivation and guide throughout the process.
Financial Readiness
Calculate your budget, including running costs and renovations. Know your resources and potential lender support. If property is included, involve a surveyor.
Type of Pharmacy
Decide on size, location, and management approach. Determine desired returns early.
Potential Hurdles:
Understand the sale type – company share or asset sale. Both have pros and cons in terms of tax and price.
Warranties and Indemnities
Sale & Purchase Agreements (SPAs) include warranties and indemnities. Clarify business health, prescription volume, and liabilities.
SPA Considerations
- Reliable business info and management accounts.
- Prescription volume verification.
- Exclude damaged stock.
- Property issues, equipment details, software contracts.
- Employee info disclosure under TUPE.
- Locum and supplier relationships.
Raising Finance
If involving a lender, use healthcare-specialised representatives. Solicitor advice on loan agreements and security. Accountant’s projections are crucial.
Professional Advice
Seek legal and professional advice early. This article is not legal advice.
Ready to buy or sell? Get in touch for guidance through the process, timeframes, and costs.
