3 Truths for Independent Pharmacy Owners

NOVEMBER 11, 2015
Much has been written about owning a business, but independent pharmacy owners in particular need to master a few very special concepts. Here are the 3 that I consider to be extremely valuable:

Truth #1: Who you are and what you know, plus the advice you can render to your patients, has greater importance and more market value than you ever dreamed.
Truth #2: You own your own pharmacy to make a difference. The best way to do that is to use your knowledge on how to help people “feel better, live longer, and become more energetic.”
Truth #3: You can get paid for sharing your advice and know-how to help others become infinitely healthier. In the process, you can build a lucrative business around this profoundly meaningful situation. You can also create your legacy.

If any of this sounds unbelievable, then you’ve probably never discovered this highly productive business model:
  • Compounded Prescriptions
  • Natural Medicines
  • Fee-for-Service
  • Concierge Service
  • Strategic marketing

What You Know Is Golden

This very lucrative approach can be used by any pharmacy, anywhere.

Whether you’re filling traditional scripts or compounded ones, your front-end should be entirely different from chain stores and big-box stores. Such a change is what patients should see the very moment they enter your store.

When you stock high-quality pharmaceutical grade supplements, you sparkle! In fact, that’s also how you become the go-to expert in patients’ minds.

Additionally, you are just as or even more knowledgeable than physicians when it comes to chronic diseases. You also have a storehouse of information that chain store pharmacists don’t.

It’s time to start monetizing that information and know-how.

Speaking of chain stores, did you know that just a few months ago, the New York State Attorney General determined that the nutraceutical supplements sold by Walmart, Walgreens, Target, and GNC as their own are not what they claim to be? In fact, the Attorney General maintained that some of these products contained NO evidence of the key ingredient.

Independent pharmacy owners can sparkle even more because they have (or should have) high-quality, pharmaceutical-grade supplements that really do contain the ingredients as written, which are the ingredients your patients need. That way, you can really help them feel better, live longer, and be more energetic.

When you put the 3 aforementioned truths to good use, you will scintillate for your targeted audience.

The Pharmacy Sage can be reached at (888) 737-6400 or Lester@ThePharmacySage.com

Lester Nathan, MS
Lester Nathan, MS
A powerhouse in the world of independent pharmacy, Lester offers free business resources for Pharmacy Owners on his website, ThePharmacySage.com. Offering insight, wisdom, and strategy, Lester is an esteemed voice in pharmacy business. Lester helps his clients increase patients and profits in spite of the 3rd party payment fiasco.
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