Selling Your Pharmacy: Planning for Success

Saturday, October 10, 2015, 8:00 a.m. - 1:30 p.m.
Gaylord National Resort and Convention Center
Continuing Education Credits: 0.55 (5.5 Contact Hours)
ACPE #: 207-000-15-100-L04-P and ACPE #: 207-000-15-100-L04-T
NOTE: A separate fee is required for this program. To register, please click here.

Selling your pharmacy is an important event that with the proper planning can bring you the return on investment to fund your retirement or next venture. For success, planning is key and this program will bring you a panel of experts to help you make the most successful and profitable plan. What to do and more importantly what not to do, contracts, legal, banking and tax issues. Pros and cons and the advice and counsel of an expert panel that will take the time to answer your questions.

Pharmacists and Technicians Learning Objectives:

  1. Create individual goals for your business transition situation.
  2. Outline various methods for managing risk and maximizing resources from business succession.
  3. Explain the financial documents that a banker will consider in reviewing a buyer's investment in your business.
  4. Explain three common financial errors made by small business owners.
  5. Discuss the legal process and documents involved in the sale of a pharmacy.
  6. Summarize the details to transfer the ownership of a pharmacy and the local, state and federal agencies that must be dealt with to close a transaction.
  7. Evaluate any financial or corporate structure changes that may be beneficial to your business in the years that approach transfer of ownership.
  8. Discuss how a banking institution will value your business for purchase by a buyer.
  9. Outline basic requirements for a successful junior partnership transition.

Speakers: Richard Coakley, CLU, CFBS, CLTC, AEP, Co-Founder, Waypoint, Summerville, South Carolina; Richard Jackson, president, Community Pharmacy Consulting, Inc., Sarasota, Florida; Scott Weaver, vice president of pharmacy, PRS Pharmacy Services, Latrobe, Pennsylvania; Jeff Baird, Esq., Brown & Fortunato, Amarillo, Texas; Ollin Sykes, CPA.CITP, CMA, President, Sykes & Company, PA, Edenton, North Carolina; Jimmy Neil, General Manager of Pharmacy, Live Oak Bank, Wilmington, North Carolina

Categories:
Activity Type: Application-based
Audience: Pharmacists and Pharmacy Technicians