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Going into partnership
For many pharmacists, partnership is often the path chosen for pharmacy ownership.
Partnership is both a contractual relationship and a financial commitment.
To get the best outcome the following issues should be addressed:
- Determining the relative interests and the price
- Knowing the future arrangements for buying an increased share
- Settling the partnership arrangement and the formal agreement
- Ensuring the cash flow works
- Finalising the operating structures
- Securing the funding
- Organising the appropriate approvals
- Liaising with the lawyers
- Ensuring that everything has been finalised.
Most pharmacy owners find that selling their pharmacy is one of the most important events in their life, both professionally and personally. It can be costly if the transaction is not properly planned.
At Guild Accountants, we have literally saved owners hundreds of thousands of dollars through carefully planning their sale transaction.
Selling a pharmacy is a complicated process that involves many difficult decisions.
For most owners, the pharmacy is their biggest personal asset. Sometimes it is difficult being impartial after years of work growing the business.
Some of the issues are:·
- The Right Time to sell your pharmacy
- Preparing your pharmacy for sale
- Valuation and Appraisal of your pharmacy
- Financial and legal arrangements for the sale of your pharmacy
- Assessing the offer for your pharmacy
- Finalising the sale of your pharmacy
- Minimising your tax obligations after the sale of your pharmacy
Selling a pharmacy can be a lengthy and involved process. Having the right adviser in your corner will ensure you go through the experience smoothly.
To find out more contact the Guild Accountants Pharmacy team on 1800 101 296 or email firstname.lastname@example.org.