DrugXpert Blog

Setting the right selling price of products is one of the cornerstone of community pharmacy business. A low price will encourage a large steady stream of sales with low profit. On the other hand, low sales is witnessed when the price is outrageously high leading to loss of customers. Setting the right selling price is an art that is perfected over the years. But there comes a time when adjusting the current price of a product (s) is necessary. It happens when the wholesale price changes. However, there is a critical case we want to look into today. It is a topic that is hardly talked about in the open. Maybe because of its moral stand. How It All Started Covid-19 Covid-19 is a virus infection that was discovered in China in December 2019. It is highly infectious and deadly. It has claimed many lives from different countries within a short while. There currently is no cure. The best thing to do is prevention. One of the best preventive measures is simple hygiene. This has le...

Mark-up (selling) price of product is one the most important things for a successful community pharmacy business. It is also called the gross income of each product. Some community pharmacies use the same mark-up ratio for all their products. Some others use different mark-up ratio for different categories. The major consideration is the operational income. The operational income must be higher than the gross income. A small operational income or negative value is an indication of a poor mark-up ratio. Read Also: Supermarket in community pharmacy shop benefits Before we delve deeper into the topic properly, let's see the different types of income in a community pharmacy. Community Pharmacy Income Gross Income This is the profit in a product after sales. It is the selling price minus the cost price. Mark-up Mark-up price This is the selling price of a product.  It includes the cost of buying the product and the gain in it. The value is set by the pharmacist in...