The Waypoint team recently took a trip to San Diego and the weather was out of this world.  It inspired a discussion on what the advisors' lives would be like after working at Waypoint.  One of our advisors mentioned that he would love to be able to travel to places like San Diego without having to worry about being on a budget.  Another one of our advisors said he would love to sit on his back porch, watch the sunset and eat boiled peanuts.  The third advisor mentioned that he had no idea what he would do when his working life ended.

The advisor with no plan then proceeded to state that he feels like many pharmacists in that they have no written plan for life after pharmacy.  Many pharmacists have an idea that life after pharmacy can happen, but often times, this is stuck in the back of their minds.  We encourage pharmacists to write this down because the probabilities of this happening increase when this is the case.  A good analogy of this is when you go to a car dealership to buy a new car.  The salesperson will never say the price out loud.  He or she will write it on a piece of paper.  The human mind interprets this as final and it makes the price more palatable and the car easier to buy.  Your exit strategy should not be different.  It will happen and acknowledging the finality of it is a great step to begin the process.

With all this being said, What is your pharmacy exit strategy?

Exit strategies include the following:

1. Sell to a chain
2. Sell to another independent
3. Sell to a junior pharmacist
4. Wind the pharmacy down
5. Liquidate the pharmacy

While each of the above options has its pros and cons, the key component of a pharmacy exit strategy is to actually have a plan.  We encourage all of you to get a plan in place, and then put it in writing to increase the probabilities of being successful.  Your life after pharmacy may just depend on it.