Numark chief suggests way forward for independents
Independent pharmacists can learn from other small businesses and should tailor their services to suit the needs of their local community, Simon Colebeck, managing director of Numark, told participants at the company's 2007 Caribbean conference last week.
“The reality is that many [small businesses] survive and flourish
against seemingly impossible odds,” he said. “Smart operators
are promoting themselves as neighbourhood hubs, involving their businesses
actively within the community. Whether that may be local bulletin boards
or sponsoring a local sports club, insinuating your business into the
neighbourhood pays dividends.”
Mr Colebeck set out some of the difficulties facing independent pharmacists,
such as accessing remuneration from the community pharmacy contract,
changes to the distribution system and the increasing power of pharmacy
multiples. “The odds are incredibly stacked against you,” he
said. However, he went on to suggest that other local businesses, such
as convenience stores, face similar threats but can be successful. Their
defence strategy is based around four key areas: tailoring to the local
demographic, promoting key lines, actively promoting local community
credentials and stressing the time-saving element compared with a superstore
trip.
“With grit and determination, coupled with a willingness to try
different things or to concentrate on key differentiators, you can absolutely
flourish,” Mr
Colebeck declared.
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