When looking to sell your business, you will undoubtedly be faced with the issue of the agent's commission. All business brokers (and real estate agents) are required to advise that commission are negotiable and you have a right to discuss the commission structure with your agent. However, be aware of the process when doing this - you really do get what you pay for and often those offering lower commissions also provide less of a service. Your aim should be to set a walk-away price from the sale - what you receive after the agent's commission. And at the end of the day, when you put your business to market you want your broker to be pushing hard to get the best return for you - how they negotiate their commission will be a good example of their negotiation skills. If they're willing to cut their own commission to get the deal, how hard are they going to negotiate with buyers for your business?
Commissions will vary depending on the size of the business and the complexity of the transaction. A big factor in the rate will be the size of the business, the level of demand in the market place and the level of involvement required from your broker.
When negotiating your commission rate, take into account what you're going to get for the service and the results received by the broker for similar businesses in the market. You can buy a car for $13,000 but there's are reason why other's are priced at $100,000 or more. The same exists for brokers.
Take a moment to consider how the broker treats with you when preparing your business for sale and negotiating their commission. This will be a good indication of how they manage the process during the sale. Do they address details? Do they get back to you when they say they will? Do they have systems and processes to manage the sale? Do they have documentation to assist in the process? Are they accessible and contactable? And are they salespeople? These are important considerations that you should address when determining which broker to go with.
Many shopping centre landlords see turnover as the key measure for setting pharmacy rents. While considered illegal and not in accordance with the relevant pharmacy legislation, many landlords have continued to seek turnover data from pharmacy (and other tenants) with a view to escalating rent when turnover increases.
Did you know that August 2012 marked 5 years since the GFC began? And 5 years on - the stock market continues to display volatile returns while financial markets continue to be overly cautious. While pharmacy has been relatively resilient, it is important that pharmacists understand the impacts the GFC have had on the industry.
A pharmacy for sale in a single pharmacy town in South Australia, near the Victorian border. This newly refurbished pharmacy, in a bustling town presents a great chance to own your pharmacy with great returns. Earn a wage of $70,000 plus profits of $45,000 to create a great yield on your investment.
