Selling Your Pharmacy Action Plan
Sponsored by Live Oak Bank

Saturday, October 14, 2017
8 a.m. – 2 p.m.
Gaylord Palms Resort & Convention Center, Orlando, Fla.
ACPE # 0207-0000-17-200-L04-P and ACPE # 0207-0000-17-200-L04-T
5.5 contact hours (0.55 CEUs)
(Additional registration fee applies)

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. During this session, you will gain in-depth knowledge of your transition options — such as a junior partnership — and how you can make the most of your investment to fund your retirement or next venture. You will also learn the tools to manage risk and maximize financial and legal resources when planning your business succession, and get answers to your questions during an interactive and informative Q&A session led by a panel of financial planners, accountants, lawyers, and retirement experts.

Pharmacist and Pharmacy Technician 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 Jackson, PhD, President, Community Pharmacy Consulting, Sarasota, Fla.; Scott Weaver, Vice President of Pharmacy, PRS Pharmacy Services, Latrobe, Pa.; Jimmy Neil, General Manager, Pharmacy, Live Oak Bank, Wilmington, N.C.; Ollin Sykes, President, Sykes & Company, PA, Edenton, N.C.; Jeff Baird, Esq., Chairman, Health Care Group, Brown & Fortunato, PC, Amarillo, Texas; Lawrence Barrett, CLU, ChFC, AEP®, Independent Pharmacy Consulting Group/Sagemark Consulting, Cleveland, Ohio

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