5 Questions to Ask Before Choosing a Pharmacy Brokerage Service

Posted by Enterprise Valuators Corporation on December 11th, 2023

As you navigate this crucial juncture, you must arm yourself with the right questions to ensure you select pharmacy brokerage services that align with your unique needs. Let's dive into the core considerations guiding you through this process.

Question 1: What Experience Do You Have with Valuation Services?

A brokerage's expertise in pharmacy valuation services is a testament to its ability to recognize and communicate the actual value of your business. It's imperative to choose a partner who knows pharmacy valuation, considering all the intricacies that define its worth.

• Request evidence of their expertise: Do they have a proven track record with tangible results?

• Understand their valuation process: What methods do they employ to ensure a comprehensive and accurate valuation?

Question 2: How Will You Market My Pharmacy?

The marketing strategy employed by your brokerage service should be as unique as your pharmacy. It's not just about listing a sale; it's about crafting a narrative that resonates with the right buyers.

• Expect a bespoke marketing plan: How will they tailor their approach to highlight the unique aspects of your pharmacy?

• Demand clarity on marketing channels: Through which mediums will they promote your business, and what is their messaging strategy?

Question 3: Can You Guide Me Through the Sales Process?

The path to a successful sale is often complex. Your brokerage service should be your navigator, ensuring you understand each turn and what lies ahead.

• Insist on a hands-on approach: Will they be actively involved from the initial listing to the final handshake?

• Clarify the sales support: How comprehensive is their assistance during negotiations and contract finalization?

Question 4. What Are Your Fees, and How Are They Structured?

Understanding the fee structure of your pharmacy brokerage services is crucial. It should be transparent, fair, and aligned with your success.

• Demand upfront disclosure: Are all potential fees clearly outlined from the start?

• Ensure mutual benefit: Does their compensation model motivate them to achieve the best possible outcome for your sale?

Question 5:  How Do You Handle Confidentiality?

The sale of your pharmacy should be a discreet affair. The right brokerage will protect the confidentiality of your business throughout the process. 

• Expect stringent confidentiality protocols: What safeguards are in place to protect sensitive information?

• Seek assurance of discretion: How do they vet potential buyers to maintain the confidentiality of the sale?

How EVCOR Can Help?

As you ponder these questions, consider EVCOR as your trusted partner who knows how to value pharmacy business during sales. With years of dedicated experience in pharmacy brokerage, we stand out as a beacon of expertise and reliability. We understand the nuances of valuation services and have a keen eye for valuing a pharmacy market, ensuring you receive a fair and accurate assessment of your life's work.

EVCOR ensures that your sale is not just a transaction but a transition that sets the stage for the next chapter of your professional and personal life.