The key issues for any pharmacy owner in selling their pharmacy relate to some core areas of their business:-
* Compliance – all purchasers wish to ensure that pharmacies have in place full compliance with the regulations. The issue of the consultation room at times can prove contentious.
* GMS contract. Purchasers will wish to ensure that a full update GMS contract is in place.
* Employees. Most pharmacies are operated through a sole trader/partnership structure and so the business is transferred. This means all employees transfer to the new owner who must take these employees will all of their contract terms intact including accrued holiday pay.
* Drug supplier contracts. Purchasers will need to understand your relationship with your drug supplier, be it United Drug, Uniphar or other companies. What discount arrangements to you have in place, are payments up to date.
These are some of the key issues to consider