Steps To Revive A Dead Community Pharmacy Business

Community pharmacy

Community or retail pharmacy business is very lucrative in Nigeria. But that depends on so many factors. Location, age of the pharmacy and pharmaceutical services are the key ingredients in a successful community pharmacy. This is especially important when there are competition around.

As more and more community pharmacy open, competition increase. This puts a strain on the business. It can be frustrating and can lead to taking the wrong decision. Unfortunately, the competition can push some out of business. What can be done to revive a dead or dying community pharmacy business?

Read Also: Success guide for community pharmacy business in Nigeria

Truth be told, it is not easy. It is easier to build a brand new community pharmacy from scratch than trying to revive it. People will be like let me visit this new pharmacy and see how their service is. But once you lose customers, they may not want to check on you again. It takes some drastic steps to bring it back to life. But it can still be done.

To begin with, it is important to find out what went wrong then tackle it head long. Ask yourself questions and provide answers. It becomes difficult if you bought the shop recently because you may not be able to answer some of the questions.

If the drop in sales is due to competition ask who the person is. What are they doing that you are not doing. If it is low stock, ask which product and brand is commonly used in the area and if you have then. If it is because of the fact that a pharmacist is not always on duty, then ask how many hours should a pharmacist be on ground and be able to improve the pharmacy. Give yourself time to observe these gray areas.

Even if you get these things right, it will take some time to get a new customer base (and a few old ones).

To convince your old customers your services have improved, they need a physical evidence. This normally comes in the form of new shelves and painting. Rearrangement of shelve and the general shop can attract attention. Such positive attention can lead to getting back your old customers.

Read Also: Benefit of supermarket or mini Mart for a community pharmacy business

I always advise the inclusion of mini Mart or supermarket. If you have it before, look for how to improve it. Believe me, a simple satellite television can attract people. I have seen a community pharmacy with a small television outside for viewing free football matches. The crowd it attracts every weekend pulls in a cheap publicity. Think about doing that. But that depends on available space.

In some circumstances, moving to a new location is the only solution. But it is more expensive. Before you make such a move, think deeply about it. However, it is better than closing shop.

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