The Apothecary Shoppe is an efficient, well-run pharmacy operating in metropolitan Salt Lake City, Utah. Owner Kevin Demass is an astute business man and pharmacist, eager for information and always proactive and engaged in the operation of his business. Kevin has participated in Business Coaching since 2010.
Faced with unexpected competition, this pharmacy owner didn’t stand idly by. Learn how he increased his volume by nearly 34% with the help of a business coach and proactive marketing strategies.
Challenge
When the clinic upstairs from The Apothecary Shoppe decided to open its own in-house pharmacy, The Apothecary Shoppe experienced a 30% loss of business over a 12-month period.
Solution
With the help of his business coach, owner Kevin Demass was able to identify key prescribers and market directly to them. Additionally, Kevin and his coach worked together to evaluate his labor costs and productivity and were able to make small but effective changes with minimal disruptions to his staff.
“You could stand in the pharmacy with the doors open, and wait for business to come to you, or you can strategize with the business coach to decide where are the pockets of business and how do I get them.” —Kevin Demass, The Apothecary Shoppe
Outcome
Over the next three years, Kevin was able to increase his volume by nearly 34%. His efforts to proactively market his pharmacy to targeted prescribers resulted in 61% growth in new business amongst the physicians who are now his top three prescribers.
Kevin shared, “You could stand in the pharmacy with the doors open, and wait for business to come to you, or you can strategize with the business coach to decide where are the pockets of business and how do I get them. There are a lot of reports available, but my coach takes that information and points out what it means—giving me direction and helping it all make sense. Then my coach comes back and we re-evaluate—how did the strategy work, what should I do differently?”
