The Succession Plan No One Talks About
Are you a pharmacy owner over the age of 50? If you answered "yes," then the time has come to seriously review your exit strategies.
Whether your goal is to sell your pharmacy to your children, an employee, or an outside source, there are many things you need to consider. It all begins with the right plan in order to maximize the selling price of your business.
I would like to ask you a vital question. If you were to die tomorrow, for example, what would happen to your pharmacy? Would your widow or family be prepared to take over your business immediately? This is something you should seriously think about. Did you know that your pharmacy is worth more while you are alive than after you pass on? That means that every day that goes by after a pharmacy owner dies, the family loses money. All that hard work you put in over the years and poof it is gone at exactly the moment your loved ones need it most.
For the remainder of this article please check your July 14th, 2008 issue of Drug Topics or click on the following link:
http://drugtopics.modernmedicine.com/drugtopics/Pharmacy/Viewpoint-The-succession-plan-no-one-talks-about/ArticleStandard/Article/detail/527469
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Suzanne M. Gude
http://www.Keep-Your-PharmacyOpen.com
http://www.SHBConsultants.com
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