You have owned and operated your pharmacy for the past 20 or 30 years and now you are selling. You see the finish line and it feels good to know you will not carry the weight anymore.
But upon the sale your duties are not completely done. Most buyers will need you to help after the sale. What is needed from you will vary depending if you were purchased by a chain or independent buyer but either way they will need you.
Chains may want you to work for one year as a pharmacist to help retain the business or because they need staff. Independent buyers will need you to help keep the support of the staff, teach them processes only you know, introduce them to doctors and community leaders etc. This is important to know as it may factor into your retirement planning and is a reason to plan your sale 2 to 3 years out.
If you want to discuss transition planning please reach out to us.
