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The advantages of hiring a business transaction advisor to help you sell your pharmacy

March 6, 2023

selling a small business Looking for a business broker to help sell your pharmacy? Then you’ve come to the right place! But not because we are business brokers – we are much more than that. When you sell your pharmacy business with a business broker, the broker’s primary interest is to get the sale done and collect their fee. At EVCOR, we take a different, more comprehensive approach. As business transaction advisors, we work with our clients through the entire lifecycle of a pharmacy sale – before, during and after any funds change hands – to ensure you get the best price you possibly can for your pharmacy business, reduce frictional tax costs, and successfully transition to the next stage in your career and your life. At EVCOR, that often means starting an advisory relationship years before a potential sale to maximize your pharmacy’s profitability and market value and helping you plan to achieve your business and personal financial goals. During the sale process, it means we apply our experience- and data-based knowledge of the pharmacy industry to help you achieve a successful transaction. When you’re selling your pharmacy business, that 360-degree support can make all the difference between achieving a successful sale and leaving the negotiating table dissatisfied, frustrated and less wealthy than you could be. Simply put, an ordinary business broker doesn’t provide the level of service or industry perspective that a business transaction advisor like EVCOR can.

So why work with a business transaction advisor?

Selling your pharmacy is a big step, and it can be rife with complications and potential pitfalls. EVCOR’s business transaction advisors take a holistic and long-term view of your business, your financial goals and the marketplace. Unlike some business brokers, EVCOR’s transaction advisors are fully trained to understand the ins-and-outs of selling your pharmacy. They know the right or the wrong time to sell. They can advise on steps you can take to improve the profitability – and therefore the value – of your business. And they can help get you the best price and in collaboration with your tax advisors, potentially reduce your frictional tax costs in the transaction.

Private and confidential

When getting ready to sell your business, timing is everything. Announce that you are selling too early and you can put yourself at a disadvantage. Your transaction team must control the flow of information – breaches of privacy and confidentiality can be disastrous. An experienced business transaction advisor can help you manage relevant information, and you can be assured they will keep your data safe and operate with more trust and confidence. They will also know how to use information to your advantage. For example, a good advisor can do the research to qualify a potential buyer even before the buyer knows your business is for sale.

Business valuation expertise

The best business transaction advisors will be fully versed (and credentialled) in preparing a detailed and well-researched valuation of your pharmacy. Some advisors, including EVCOR, have expert tools at hand to address the science and art of valuing your business. When it comes to business valuation, many complicated variables come into play. Experience and credentials matter. So look for well-established business transaction advisors with regional and national contacts who are well equipped to guide you.

Access to an extensive network

Another benefit of working with an experienced business transaction advisor is that they have access to a broader network than you do. A good transaction advisor will bring to the table a broad knowledge of and contacts within the pharmacy industry, and they will have access to more potential buyers. And even after you sell your pharmacy, they will keep you in mind if you are ever looking to purchase again down the road.

A transaction advisor can save you time and money

Business transaction advisors work to get you a better price for your pharmacy, but their support doesn’t end there. They can work with your other legal and accounting teams to help reduce transaction tax; they can provide support during sale negotiations to keep the process moving efficiently; and they free up your time so that you can focus on running your business and continue to maximize its market value. All of that can lead to a faster, more efficient sales process. And speed matters. A faster selling process means that your pharmacy is not on the market for too long, which can eat into your final sale price. Time can kill a deal! If you are ready to sell your pharmacy and need support, then look beyond brokers and consider working with a business transaction advisor such as EVCOR. We have offices around the country, and our experienced advisors will use our extensive network and comprehensive resources to make selling your business as simple – and as profitable – as possible. Call for a free and confidential consultation today.
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