Series: Accounting Mistakes to Fix

May 16, 2023

Common Mistakes To Avoid When Selling Your Pharmacy

As seasoned business transaction advisors, we understand the challenges involved in successfully navigating the selling process. Over the years, we have observed numerous mistakes made by pharmacist-owners, particularly in one critical area: Accounting Practices.

In this series, we aim to shed light on the common gaffes we have encountered during our decades of providing business evaluation services. It’s important to recognize that these mistakes, individually or collectively, can significantly impact your ability to sell your pharmacy when desired and the price a potential buyer is willing to offer. One of the most detrimental consequences of poor accounting is the potential for delays in the process. As the old adage goes, “time kills deals,” and rectifying accounting issues often requires valuable time.

We’ll provide practical insights and recommendations to help you avoid these pitfalls, ensuring a smoother and more successful selling experience. Whether you’re planning to sell your business this year or at any time in the future, our tips and strategies will prove invaluable in maximizing your chances of a favorable outcome.

Part 1:  Inventory

Part 2:  Commercial Terms

Part 3:  Non-Active Assets

Part 4:  Everything Else – A Potpourri of Mistakes

At EVCOR, we are dedicated to empowering pharmacy owners like you to make informed decisions and achieve your goals. Join us on this enlightening journey as we unravel the complexities of selling your store and equip you with the knowledge needed to navigate the process with confidence.

Don’t let poor accounting hinder your business’s potential. Let’s work together to ensure a successful and profitable sale.