Transitioning into life after pharmacy can be a scary thing for most community pharmacy owners. Among the many reasons it frightens owners, the realization their role(s) will change as they begin the transition out of the pharmacy is perhaps the most daunting. Our clients often tell us they are worried about losing their identity and the respect of their employees, customers and other members of their community when they begin this process.
The Pharmacy Ownership Guardian
Succession planning should, theoretically at least, start from the moment you make the leap to become a community pharmacy owner. In the land of fairies and unicorns, this would happen every time. But, reality is much different and this usually never enters the minds of pharmacy owners until they are ready to get out.
It has been our experience that when owners want out of pharmacy, they want it sooner than later.