How To Run A Thriving Pharmacy

Running a business is a lot of responsibility; running a successful pharmacy is even more so, but it’s not beyond your reach. A pharmacy offers a specialised service and, when handling patient medication, there are a lot of things to bear in mind before you open yours for business. 

If you haven’t given it any thought, not to worry – we’ve put a list together to help. Check out these tips on how to run a thriving pharmacy. 

Set realistic goals 

You’ll have lots of goals that you’ll want your business to hit when you start. Some will be targets for before a year is out. However, it’s important to make sure that you don’t set yourself too many and that they’re realistic. One of the things that successful pharmacy owners do differently is set one or two big goals for the year that will massively impact their business and improve their stores. 

These types of goals mean that while your pharmacy is constantly advancing, the duration can be modified when necessary. So, if a sales goal is not achieved during the calendar year, it can be adjusted by a month or two so your business can get there. 

Invest in your staff 

Staff that are well-qualified and reliable are crucial when hiring the right pharmacy team. Patients are unlikely to return for repeat business if they feel the staff are uninformed and unprofessional, especially where their health is concerned. Staff training should be an ongoing process so you can provide the best patient experience and keep employees up to date with all procedures. 

Knowing when to expand your team is also part of running a successful pharmacy. Recognising any limitations of your staff simply means that your business is growing, and you can hire others to fill the gaps. 

Keep on top of the paperwork

As with any new business, there is bound to be a lot of paperwork and while you’re getting up on your feet it’s best to keep on top of it. After all, wading through a mess of tax returns, bills and patient files can be a pain. Admin is a necessary evil and keeping your files neat and organised will only save you time and frustration in the long run. Insurance, in particular, is essential when running a pharmacy. While you must be covered for the usual property damage and employment claims, the specialised service that you offer needs extra protection. Finding the right pharmacy insurance for your establishment should be one of your first priorities and could end up saving you money in the long run.

By Caitlyn

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