E-book for Independent Pharmacists Who Want to Build Front-End Profits

November 11, 2014By News

November 11, 2014 — Upsher-Smith Laboratories, Inc. (Upsher-Smith) announces the release of the second in a series of educational e-books created for independent community pharmacists, The Front-End Opportunity: Capitalizing on the Highly Profitable Front-End. Authored by Hamacher Resource Group (HRG), the new e-book examines the impact that various changes to front-end operations can make to the bottom line. It includes ideas and resources that pharmacists can try to determine what they feel is achievable for their store, as well as explores the potential effects on front-of-store profitability.

The Front-End Opportunity: Capitalizing on the Highly Profitable Front-End focuses on five key profit variables that pharmacists can adjust, and includes a guide which ranks the low, medium, and high impact modifications for each variable. Actionable insights are also provided for each variable to help pharmacies attract and retain shoppers, increase sales, minimize expenses, effectively manage their cost of goods, and prepare for the future.

In conjunction with the e-book, HRG has developed and is making available on their website a free calculator that pharmacists can use to estimate potential profit growth that implementing certain adjustments may yield. The HRG Profit Variable Calculator allows pharmacists to customize it to their store and try different percent increases to transaction volume, conversion rate, and retail prices, and reductions to cost of goods and operating expenses to see how it may impact profits. The Calculator is available at www.hamacher.com/ProfitCalculator.

Upsher-Smith’s strong commitment to community pharmacists was the impetus for the e-book series. The first e-book, Community Pharmacy: Foundation for the Future, was published in April of this year and is available for download at www.hamacher.com/Foundationforthefuture. The series will culminate with the third book, scheduled for release in 2015.

“The concept for the five profit variables was developed by HRG decades ago and is still highly relevant today,” said Dave Wendland, HRG vice president and member of the owners group. “It has always been part of our mission to help independent pharmacies succeed, and we’re glad the opportunity arose for us to bring the Profit Variable Calculator to life in conjunction with this Upsher-Smith e-book. If used in combination, pharmacists have an easy-to-use, multi-faceted resource that can help them discover tactics  to improve the profitability of their front-end.”

About Upsher-Smith

Upsher-Smith Laboratories, Inc., founded in 1919, is a growing pharmaceutical company dedicated to its mission of Advancing Pharmacotherapy. Improving Life™. With capabilities ranging from early-stage research to delivering on-market products, Upsher-Smith is committed to developing quality products that enable people to live life to its greatest potential. For more information, visit www.upsher-smith.com.

About Hamacher Resource Group, Inc.

Hamacher Resource Group, Inc. is a research, marketing, and category management firm specializing in consumer healthcare at retail. Product manufacturers, healthcare distributors, retailers, technology partners, and other organizations rely on HRG for strategic insights and creative solutions to improve the shopping experience. Founded in 1980, HRG is a WBENC-Certified Women’s Business Enterprise headquartered in Greater Milwaukee. Visit www.hamacher.com for more information.

 

Leave a Reply