preparing your pharmacy for sale · 2017-03-04 · preparing your pharmacy for sale psc believe...
TRANSCRIPT
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
Preparing your pharmacy for sale
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
Preparing your pharmacy for sale
PSC believe that pre-sale preparation is fundamental to ensure that, when the time for
sale does eventually arrive, our clients are in the position to achieve the best possible
outcome in terms of price and timescales. In our experience many sellers fail to prepare
correctly which ultimately leads to unnecessary and expensive delays and, in extreme
cases, could result in the sale falling through.
Most pre-sale preparation is simple and, in many instances, just requires taking a
straightforward common sense approach to a variety of property, financial, legal and
timing matters.
The list below covers many of the key issues you will need to consider. However every
business is different so if you would like further advice please contact us to discuss your
specific circumstances.
email: [email protected] web: www.pscpharmacy.co.uk
Sale structure
! Speak to your accountant at an early stage to
make sure the corporate structure of the
business is appropriate so the sale will be tax
efficient. It may be that some restructuring is
required before marketing the business for
sale.
! If your company structure is complex,
comprising several pharmacies and / or other
business interests, take advice from your
solicitor and accountant to deal with any
parts of the business that will not form part of
the sale.
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
Property
! If you own the freehold of the property consider whether you wish to sell this as
part of the sale or whether you would rather keep the property and grant a new
lease to the purchaser. You may wish to obtain a valuation of the property to help
you with this decision.
! If the property is leasehold, check all lease obligations have been complied with
such as outstanding rent reviews and repairs, and ensure any alterations that
have been carried out were approved by the landlord where this is specified in
the lease.
! Where significant works have been carried out, ensure copies of planning
permission and building regulations approval are available.
! Deal with minor repairs / decoration to improve appeal to purchasers but think
carefully before making significant capital expenditure.
! Review any maintenance contracts to ensure obligations are understood. Where
contracts are expiring try to limit length of new contracts in case the new owner
wants to change these.
email: [email protected] web: www.pscpharmacy.co.uk
Staff
! Ensure all staff have employment contracts and these are up to
date.
! Make sure that any obligations you may have to provide a
pension scheme for employees have been complied with.
! Ensure any unusual arrangements such as bonuses, car
allowances etc. are clearly set out in staff contracts rather than
made informally.
! If any staff are leaving do not replace them without
considering whether the new owner will want this.
! Where possible resolve any outstanding disciplinary or legal
matters before selling the business. Where this is not possible
ensure buyers are made aware of these issues early on.
! If you usually employ a pre-reg consider whether it is
appropriate to take on a new one if the sale might take place part
way through the pre-reg year.
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
email: [email protected] web: www.pscpharmacy.co.uk
Services
! Review existing contracts with all service providers e.g. utilities,
waste disposal etc. Where these are up for renewal avoid future
commitments if possible.
! Pay particular attention to computer/PMR contracts as this is
regularly a contentious point. If the purchaser has other
pharmacies already it is likely they will want to install the same
PMR system that they use elsewhere. There can be significant
costs associated with cancelling existing contracts so try to
delay renewing contracts if you are expecting to sell the
business in the near future.
Stock
! Consider running down stock levels
of non-standard or excess stock but
not to the detriment of the business.
! Dispose of out of date stock and any
hazardous chemicals.
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
Paperwork / Accounts
! Dispose of very old paperwork (more than 7 years) but be careful to leave behind
paperwork that may be required by the new owner, particularly if you are selling a
limited company.
! Leave copies of any third party contracts.
! Ensure annual accounts and management accounts are up to date and as
necessary accounts filing has been dealt with properly.
! Ensure company books are up to date and complete.
General
! Where possible make enquiries in respect of any outstanding new pharmacy
applications or proposed relocations. Also make enquiries regarding any
potential surgery movements.
! Have copies of all agreements and contracts available to form part of due
diligence bundle.
Professional
! Ensure the CD register and private prescription
records are up to date.
! Ensure any actions recommended by GPhC or NHS
England have been carried out.
email: [email protected] web: www.pscpharmacy.co.uk
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
!
Contact
Your pharmacy is a very valuable asset which deserves to be protected.
Contact us to ask how we can help using the details below:
Kevin Harrall
Director
5a Vyne Road
Sherborne St John
Basingstoke
Hampshire
RG24 9HX
tel: 01256 636121
mob: 07771 513159
fax: 0872 1156121
email: [email protected]
web: www.pscpharmacy.co.uk
Martin Phypers
Director
The Manse
Church Street
Henham
Nr Bishops Stortford
CM22 6AJ
tel: 01992 666277
mob: 07554 011961
fax: 0872 1156121
email: [email protected] web: www.pscpharmacy.co.uk
email: [email protected] web: www.pscpharmacy.co.uk
@PSC_Pharmacy
/pharmacy-sales-&-consultancy-psc
@PSC_Pharmacy
/pharmacy-sales-&-consultancy-psc