March 22 event: Securing the future of independent pharmacy

business success | Man analyzing financial statements - Canadian Foundation for Pharmacy

March 22 event: Securing the future of independent pharmacy

Two-thirds of independent pharmacy owners do not have a succession plan, according to a recent survey of owners by researchers at the University of Saskatchewan. What does this mean for the next generation of independent owners? For the future of pharmacy in Canada?

And if you’re an owner yourself, how can you put a succession plan in place that will not only seamlessly sell or transfer your business, but also maximize its value and secure your personal financial future?

Get the answers at “The Business of Wealth Creation for Pharmacy Owners,” a full-day educational session and workshop on March 22 at the Delta Hotel Toronto Airport in Toronto. Register by February 15 to get the early-bird rate of $250!

All proceeds will be donated to the Canadian Foundation for Pharmacy, Canada’s only national charity dedicated to raising funds to support initiatives that advance the profession of pharmacy.

Mike Jaczko - Canadian Foundation for Pharmacy

Mike Jaczko

Today’s financial, professional and operational challenges require a formal plan for wealth management, retirement planning and business succession. Mike Jaczko, a retired community pharmacist and portfolio manager with KJ Harrison based in Toronto, will lead the day, joined by a team of experienced pharmacy business advisors coordinated under IntroPharm & Associates, Canada’s premier independent pharmacy advisory service. “We’ll provide you with proven strategies to grow, transition, and protect your pharmacy’s wealth,” says Jaczko. “We’ll share the latest insights on legal, financial and investment planning, tailored for pharmacy owners.”

Featured speakers are experts in legal, financial, and strategic planning, with extensive experience supporting independent pharmacy owners.

  • Financial planner Jason Heath, Objective Financial Partners Inc., will use a case study to delve into the “how” and “why” of a strategic wealth plan that is integrated with personal, corporate and family-estate goals and objectives.
  • Corporate lawyer Peter Spence, Harrison Pensa LLP, will walk you through the establishment of an effective pharmacy corporate structure and, in a separate session, explain your rights and obligations—and the benefits and costs—when signing contracts for pharmacy provider agreements, wholesale supply agreements, banner agreements and commercial leases.
  • Portfolio manager Rob Martini, KJ Harrison, will encapsulate successful investment strategies, including how to successfully time capital allocations and the incorporation of alternative investment classes
  • Chartered business valuator Darren Miles, Fair Market Value Inc., will explore the methods currently used by business valuators and highlight the key aspects involved when valuing a Canadian retail pharmacy business.
ason Perepelkin, Associate Professor, University of Saskatchewan College of Pharmacy & Nutrition - Canadian Foundation for Pharmacy

Jason Perepelkin

You’ll also hear from Jason Perepelkin, Associate Professor, University of Saskatchewan College of Pharmacy & Nutrition, and pharmacist Caitlin McGrath, who’ll present “hot-off-the-press” results from a survey of independent pharmacy owners. The study, entitled “Succession Planning Mindset of Independent Community Pharmacy Owners,” explores the barriers that currently hinder pharmacy owners from developing formal succession plans.

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