Succession planning

Succession planning is crucial for ensuring a smooth transition in business, yet many Canadian independent pharmacy owners may not have a formal plan in place. According to a 2023 CFIB report, while 76% of Canadian business owners plan to exit within the next decade, only 9% have a transition plan.

Community pharmacies are essential in providing accessible healthcare, especially in rural areas. To ensure the continuity of pharmacy care, it’s vital to address business succession.

Jason Perepelkin and Caitlin McGrath are conducting a study to explore the challenges and opportunities in succession planning among Canadian independent pharmacy owners. Your input will help identify gaps and foster a broader discussion on the future of our profession.

If you own an independent community pharmacy in Canada and are interested in participating, please complete the questionnaire, via the link provided here.

Thank you for contributing to this project’s mission to better understand the current landscape of independent community pharmacy ownership.