What does legacy mean to you?
You’ve worked hard to build a successful business. You’ve spent years pouring your blood, sweat, and tears into building something you are proud of. Your hard work should be rewarded as you move on to the next phase of your life, and that reward should accurately reflect the effort you have put into building your business.
What does retirement look like for you?
You might be ready to travel the world or maybe you just want to slow down and spend more time with family and friends. Maybe you’re not quite ready to retire completely, but you would like to let go of the stress and responsibility that comes with being the owner of a pharmacy. Whatever your next step may be, it depends on the successful transitioning of your pharmacy.
Do you have a plan in place to protect them both?
For the vast majority of pharmacy owners, their pharmacy is both their legacy and the bulk of their retirement plan. It is usually the largest financial transaction they will experience. Many things depend on getting it right. Although the financial aspects of selling your pharmacy are important, many other factors are involved in deciding exactly how and when you want to execute the sale.
You have built a team that relies on you and you want to be sure they will keep their jobs and continue to be treated fairly and with respect. You want the legacy you’ve created to live on and the impact you’ve had on the community to remain. Selling to a large national chain will all but guarantee that these things will not happen. You don’t want to sell to an organization that sees your patients as files and your employees as metrics. You want them to be valued as the wonderful people they are.
We understand how you feel because we are also independent pharmacy owners. We are ReNue Pharmacy. We own 9 stores, 8 across the state of Texas and 1 in Iowa. We know the independent pharmacy business inside and out, we are passionate about the industry, and we understand the true value of your store. Our overarching goal is to keep independent pharmacies independent. We are committed to both maintaining the tradition of what an independent pharmacy should be and being innovative to ensure that we remain competitive in the rapidly changing healthcare market.
If you are considering selling your pharmacy at any point in the near future, we would love the opportunity to get to know you better.