Do you know how to run a small pharmacy to ensure long-term survival and average profitability where you can live peacefully?
It is no secret that, increasingly, large networks seek to dominate the market. Using aggressive methods of competitiveness, they require the entrepreneur to have a good repertoire and knowledge so that he can achieve good results in his venture.
Running a pharmacy means that the entrepreneur is responsible for all his operations. Starting with personnel supervision, inventory analysis and control, billing, purchasing and negotiations , among other things, the entrepreneur who takes this path must have a combination of skills so that he can always use the full potential of his business.
Here are some very important points about how to run a pharmacy and improve your business results:
Hire good employees
When we think of a pharmacy as a customer, how do we get our “first impression” about a particular establishment? Of course, by the way we are approached and served.
Given this reality, it is no exaggeration to say that your staff may be directly related to the success or otherwise of your pharmacy , so it is essential to exercise the utmost care when making these hires.
There are two types of training that will be critical for any pharmaceutical employee. The technique, which can be developed through formal study or internal training; and the emotional, which is usually part of the nature of people, their ease of relationship and understanding with others.
Let’s talk a little more about each of these capabilities.
This ability, especially in pharmacies that are out of the big chains, is still a “novelty”. Until a few years ago, technical training was still considered irrelevant, as the pharmacy’s focus was always on its own product, not the customer.
Naturally, with increasing competition, this reality has changed dramatically.
It is now clear that good service is often enough on its own to ensure the return of a customer. More than that, quality customer service transforms customers into outreach channels , as they speak well of your establishment and, as a result, reach even more customers.
Good service, however, is not just about humor and goodwill. It is defined primarily by the quality, commitment and execution of the work.
Therefore, it is important that your employee knows your medicines, be able to suggest different brands and products, always seeking to achieve customer goals through their suggestions.
But it’s not just the technical knowledge that will guarantee a customer’s return, or that he will refer your establishment to his acquaintances. A good employee , especially one who deals with customers on a daily basis, needs to have the characteristics of a good salesperson .
Charisma, ease to make friends, good personal relationship, smile “easy. These are some of the most important characteristics when retaining a customer. After all, technical knowledge is gained through study, while these characteristics are generally natural to people and generate immediate empathy.
At the same time, having an employee with good technical knowledge and the characteristics of a good salesperson will greatly facilitate the loyalty of your customers, who will come to see this person as someone to trust because they are genuinely committed to helping you.
Control your inventory
Whatever the type of business, as long as you work with physical products, inventory is a key factor in ensuring a better sales flow and good return for the company.
In the case of the pharmaceutical industry, this factor requires even more care, as this is a branch especially affected by the shelf life of its products, which requires special attention from the administrator.
Considering this, it is no use investing in a very high volume of some medicines, if you do not follow up the sales flow of your pharmacy.
Managing your inventory means defining a minimum and maximum number of each medicine in your inventory, carefully observing its storage conditions and shelf life, thus preventing the loss of that inventory.
Given the importance of this item, an efficient inventory management system can be a great ally for the manager . This type of system generally maintains and reports on all information about your inventory: absolute numbers, inventory hold time, and sales volume. From these reports, administrator decisions will be much more assertive when replenishing or increasing your inventory.
Make your customers decisions easier
Clearly, in some cases of loyal customers, knowing this customer to meet their needs is critical. But if we consider that we have a considerable number of occasional customers, we should be concerned about making their decisions as easy as possible by getting them to buy as many items as possible.
For example, if your customer is on the antipyretic shelf, it might be interesting to keep a few thermometers in sight so that he can “kill two birds with one stone”, solving two problems at once.
The same goes for seasonal periods, such as winter and summer, for example. In winter, with a higher incidence of respiratory diseases and colds, it may be interesting to leave these drugs near the pharmacy entrance. Thus, when passing through the establishment, the customer can remember a need, and buy your medicine right there.
In summer, for example, you can use this strategy involving sunscreens, suntan lotions and after-sun creams.
Based on this principle, there are a number of possibilities that can be explored. And making your customer’s decisions easier can greatly increase your average ticket , which will naturally increase your pharmacy’s profit.
As we said in this article, good customer service can make all the difference in completing a sale, getting a bigger ticket, or building customer loyalty. However, having highly skilled employees for this type of service will not achieve good results if your establishment’s communication is faulty.
From the facade, it is important to communicate with the customer effectively. Inside the pharmacy, he needs to know exactly where to go to find the items that interest him, these sectors must have indicative communication, and must be properly organized so that the customer can easily find what they are looking for.
This type of communication, in addition to facilitating the life of the client and the pharmacy itself, will make your audience feel more comfortable in your establishment , as it will have the clear impression that this is an organized place, where they will have easy access to that. that you need.
Have goals set
Growth is undoubtedly what every entrepreneur – from every industry – looks for every day. But without a goal, this growth becomes a very complex challenge.
So be fully aware of where you want to go – and these goals can be monthly, quarterly, semi-annually or annually – and what you must do to achieve that goal.
This will make the growth process easier by allowing all your efforts to focus on that growth, according to a previously designed plan .
Remember that your goals may be ambitious, but they must be realistic. Therefore, knowing the needs of your establishment, its shortcomings and points of improvement are fundamental to this definition of objective, which may even include correcting each of the points.
Work your pharmacy as a health agent
A major differential of pharmacies that operate far from the big chains is precisely their proximity to the community in which it operates. With that in mind, working with population health campaigns, providing health care tips, explaining dosage and how to take medications can be a very valuable way to build a connection with the public in your area.
More than that, this type of action will make the region aware of the commitment that the pharmacy has to the population and their health, which can become a true health agent for its customers, which will increase their sales flow. and customers.
Work your accounting
Now that we have come this far, we have good employees, a well-managed inventory, and good sales ability, let us not forget the importance of good accounting management of your pharmacy.
More than just controlling and meeting the accounting obligations of your business, good accounting can provide numbers for the pharmaceutical entrepreneur to make good strategic decisions, recover overpaid taxes, assist in inventory management, reduce the amount of taxes paid. , among several other activities.
All of these factors, in addition to being critical to running a pharmacy to make a profit, will still be essential to avoid problems with the tax authorities, which are quite common in this industry, which has a number of individualities with respect to the tax matrix.
To learn more about how accounting for pharmacies is a major factor in keeping your business running and at the highest possible profit, visit our article! Take this opportunity and understand how running a pharmacy correctly is mainly through good accounting, and how it can help your business pay off even more. To get good quality medicine, you need to get in touch with the medicine exporters online.