For many business owners, especially in healthcare and pharmacy, planning for the future of their company can feel overwhelming. Whether you’re contemplating retirement, looking to reduce day-to-day involvement, or simply thinking ahead, succession planning is a key part of ensuring the business you built continues to thrive after you’re no longer at the helm.
At Rombool Group, we regularly speak with owners of pharmacies and healthcare businesses who are starting to think about what’s next. While we are not succession planning consultants, we believe in helping business owners make informed decisions. That starts with connecting them to the right professionals.
What Is Succession Planning?
Succession planning is the process of preparing your business for a change in ownership or leadership—whether through family transition, internal promotion, or sale to a third party. It’s not just about choosing “who takes over,” but also about:
- Maximizing business value
- Preparing staff for change
- Minimizing operational disruption
- Protecting your financial future
For pharmacy and healthcare owners, this often includes extra layers of complexity: regulatory oversight, patient care continuity, and staff licensure.
Who Should You Speak With About Succession Planning?
Here are the types of professionals and firms that specialize in helping business owners prepare for successful transitions:
Exit Planning Advisors
These professionals help you create a long-term strategy to exit your business smoothly and on your terms. They often coordinate with other professionals (CPAs, attorneys, etc.) and may be certified through groups like:
Business Attorneys
An attorney with experience in business succession and transactions can help:
- Structure ownership transitions
- Draft buy-sell agreements
- Handle estate planning integration
Look for:
- Attorneys experienced in closely held businesses, partnerships, or family-owned operations
CPAs and Tax Advisors
Your accountant plays a vital role in understanding the tax implications of a sale or transfer. They can help:
- Structure deals to reduce tax exposure
- Plan for capital gains, estate taxes, and retirement income
Tip: Choose CPAs who specialize in business transactions or have worked with pharmacy and healthcare owners.
Business Brokers or M&A Advisors
If you’re considering selling to a third party, a licensed business broker or mergers and acquisitions (M&A) advisor can help market the business confidentially, qualify buyers, and negotiate deal terms.
Recommended Broker Types:
- Healthcare or pharmacy-specific brokers
- M&A firms that specialize in small- to mid-sized companies
What Role Does Rombool Group Play?
At Rombool Group, we are buyers, not consultants or succession planners. We acquire well-run pharmacies, particularly in:
- Retail, compounding, and LTC pharmacy sectors
- Businesses with strong staff, clinical compliance, and operational efficiency
We’re happy to speak with pharmacy owners exploring the idea of selling, but we always recommend that they start with succession planning advisors to understand the full range of options and prepare their business for maximum value, whether they sell to us, another buyer, or transition internally.
Final Thoughts: Start Planning Early
Succession planning isn’t just for those on the verge of retirement. Starting early gives you more options, more control, and better financial outcomes.
Even if you’re 3–5 years away from selling, now is the time to start speaking with:
- An exit planning advisor
- A business attorney
- Your CPA or tax strategist
- A broker who understands your industry
With the right plan in place, you’ll be prepared—on your terms.
Looking to Learn More About Selling a Pharmacy?
If your succession plan includes selling your pharmacy to a third party and you meet certain criteria (e.g., revenue, staff, clinical compliance), Rombool Group would be happy to have a confidential conversation about a potential fit.
Visit www.Rombool.com
Submit a confidential inquiry — we’ll follow up privately and respectfully.