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  • I don’t have the equity to buy in but the business can’t run without me.

    updated 2 years, 9 months ago 0 Member · 1 Post
  • Katie

    Member
    December 27, 2019 at 10:06 pm

    Hello, so I run a small mom and pop pharmacy. However I am not a pharmacist, I am the pharmacy tech. That said I’m pretty good at what I do, things were rather mismanaged and after so pretty radical overhauls in both the pharmacy department and out front (and a lot of excellent luck) we’ve grew about 10% net last year, and assuming that something horrific doesn’t happen in the next few days we’ve grown about 8% net this year. I am in my mid twenties and the owner, my boss and head pharmacist, is in his 60s. We get along exceedingly well and he largely takes pretty good care of me. I am just starting my career really and he is at the end of his. He is the type to work until he’s dead but even at best he has another 10 years of being on his feet all day with me. I don’t want to be 35 with this being my only real job experience. The environment for pharmacy isn’t great right now, similar independents are closing up left and right, but we have excellent service and between becoming a sort of concierge pharmacy and a thriving gift department (local chocolate, honey, Irish imported goods, engraved gifts, etc) we are actually successful. So I think I could make this go for a long while by myself. However because I screwed around in college I have a ton of debt and most of an English degree. I am currently rectifying that by going back to school but the student debt has put a major damper on my living situation let alone building up enough capital to buy into the business. I was thinking about approaching him about working out some sort of sweat equity agreement. He’s expressed that he’s closing up shop when I leave that he cannot do this without me and has referred to me as his partner so I think he maybe open to it however I don’t know what exactly that would entail. Has anyone here had any experience where an employee earned a stake in the company? – by /hq/throwawaynowtillmay – –

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