Selling Your Pharmacy: Planning for Success

Saturday, October 18, 2014, 1:00 p.m. - 6:30 p.m.
Austin Convention Center
Location: 18AB, Level 4
Continuing Education Credits: 0.55 (5.5 Contact Hours)
ACPE #: 207-000-14-210-L04-P and ACPE #: 207-000-14-210-L04-T

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 business transition.

  2. Summarize methods for maximizing resources from business succession and managing risks.

  3. Explain how a banker views your financial documents when deciding about investing in your business.

  4. Describe 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. Explain the process of assigning value to a pharmacy from the banking perspective.

  9. Discuss basic requirements for a successful junior partnership transition.

  10. Describe small modifications that can be made to the store to make it "market ready".

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

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