51. Find a new market niche
by Julie Massey for our 99 Ways to Make a Positive Difference in Your Pharmacy series With competition an ever-present threat, you always have to re-assess your business and your position in your community. Knowing where your strengths and weaknesses lie in comparison to your local competitors will help you focus on areas where you […]
31. Remove slow-moving items from inventory
by Colleen Volheim for our 99 Ways to Make a Positive Difference in Your Pharmacy series There will always be a few products that just don’t move in your store, for any number of reasons. Naturally, if they consistently don’t sell, you’ll want to remove them from inventory, but oftentimes an item might just experience […]
Reach out to your surrounding neighbors with a personal letter
by Jen Johnston Recently, I moved to a neighborhood with an independent pharmacy that I can walk to. It’s the neighborhood my husband grew up in. This independent pharmacy has been part of the community as far back as he can remember. I LOVE that we can walk to it. I LOVE that they already […]
52. Encourage full-store shopping
by Tom Boyer for our “99 Ways to Make a Positive Difference in Your Pharmacy” blog series In order to maximize profits in your store, you should encourage full-store shopping. What do I mean by full-store shopping? When we conduct continuing education (CE) sessions, we often talk about “four-corner exposure.” The goal should be to expose your customer […]
57. Develop a healthcare information center
by Cari Sass for our “99 Ways to Make a Positive Difference in Your Pharmacy” blog series There are so many ways independent pharmacies can differentiate themselves from their competitors. We all know service is chief among them, which includes the personal relationships you can build with patients. You can strengthen relationships and build loyalty with new and […]
Marketing 101 for Pharmacy Owners
by Jen Johnston Marketing is more than selling. It’s not catchy slogans, costly advertising, and gimmicks. It’s not enticing people to do something they don’t want to do. Instead, it’s a way of thinking. It’s an approach to business that puts customers in the spotlight. Marketing is also a way of doing. It’s a living, […]
22. Implement planograms — part one
By Kyle Lentz for our “99 Ways to Make a Positive Difference in Your Pharmacy” blog series This is part one of a two-part blog series covering how HRG builds their planograms and why it’s important for independent pharmacies to follow them to maximize profits. Implementing planograms assures that you have the right mix of products, in the […]
Connect With Who Really Shops Your Store
by Dave Wendland, Vice President, Hamacher Resource Group, as seen in Insight Magazine, July 2015, pages 14-15, and on QS/1.com. In October 2014, an article by Hamacher Resource Group entitled “The Power of Profiling” appeared in Insight. That editorial highlighted five shopper types from a 2013 study: Independent Pharmacy Shoppers: Who, What, and Why? […]
The independent pharmacy life cycle
by Jen Johnston Every business follows a life cycle, and independent pharmacies are no exception. The basic life cycle is this: Introduction Growth Maturity Decline In the introduction stage, your store is introduced into the marketplace. For many pharmacies, this took place long, long ago. At this stage profit is virtually non-existent, and your money […]
40. “Shop” the aisles
by Tom Boyer for our “99 Ways to Make a Positive Difference in Your Pharmacy” blog series As a business owner, it’s important you know your operation inside and out. That includes viewing your store through the eyes of your customers. Considering your customers’ perspective of your pharmacy can give you insights that can be helpful to improving […]