Retired X-Wing Fighter, Force User, Lawyer, and Pharmacist Darshan Kulkarni strikes back to the Gavel & Pestle Podcast Universe to share his advice for selling your pharmacy business. ---May the Force be with You! 

Preparation

Consider a self audit

Consider a data room

Have a HIPAA agreement in place

Have clear financial data available for viewing for at least 3-5 years

Make sure employment agreements for all key employees are done

Be open to owner financing

But have clear deliverables and

A very clear exit strategy - how do you get your money if he doesnt pay?

Looking at appropriate valuation

There are quick and dirty strategies

3x Gross sales

Online calculators

Ask others what they have paid for similar sales

Consider an actual valuator

Is there any present or threatened litigation?

Are there any pending or expected audits?

During the Sell

Have a clear timeline, but an ultra aggressive timeline will doom your relationship from the start

How will the money be paid?

How much immediately

How much after a certain period of time (e.g. costs come through, reimbursement comes through etc)

What kind of promises do they expect? E.g. Business continues same way

After the Sell

How long and for how many hours do you need to work with/for them?

Fraud can come back to be highly problematic

Kickbacks

Billing

Lack of Rx

So how can I help?

[email protected] 

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