One of my goals as a Pharmacist and Blogger has always been to connect pharmacy businesses and provide new ideas and opportunities for those who have committed their lives to this profession. Running a profitable pharmacy today is not easy. With PBM lockouts and unfair reimbursement practices, pharmacy owners and managers need to look at alternative revenue channels. One such avenue that many pharmacies have embraced is the supplement market. But how do you establish yourself as an expert in this area in your community?
I’m pleased to invite Chris Roell of GrowthPharm to our blog so that he can share a little about what his company, GrowthPharm, can offer your pharmacy.
1. Chris, thanks for joining us here at The Honest Apothecary. Can you tell us a little about your own background and how it led to the creation of Growth Pharm?
GrowthPharm is a company that I started to help Pharmacy. I grew up in a Pharmacist family (my dad owns three different Pharmacies). I had been doing their marketing and advertising for quite some time, as well as other businesses. In May of 2019, he came to me looking for a blueprint to incorporate a health coaching program that would allow for more supplements sales and paid appointments for his staff. After some collaboration, I built a program over about six months’ time. We launched, saw huge success, and I realized that I could help a lot of Pharmacies thrive by implementing the same program. After getting over 200 interested customers in a small town of 7,000 people, I knew we were on to something.
2. Your focus is on the supplement market. What made you decide to focus here specifically? How big is this market?
The supplement market is huge. Billions of dollars’ worth of supplements are sold every year and the market is only increasing. As I talked with other Pharmacists, as well as my dad, they expressed how important of a role getting their customers on proper supplementation is. They knew they could help people live healthier IF they could just figure out how to sell the products themselves. They expressed huge frustrations with their inability to get a customer to buy more expensive, but significantly “better” supplements. Unfortunately, some of the worst products have some of the best marketing. We wanted to change that and put Pharmacists at the forefront of supplement education. Through our program, we position Pharmacists correctly so that customers not only listen but also buy ALL of their recommendations.
3. How exactly does the Growth Pharm program work?
GrowthPharm is a coaching program for Pharmacies looking to grow. They come to us, we coach them on how to execute the program, help them with their marketing to get these customers, and train their staff on a number of different topics. Pharmacies come into our program looking for more revenue, but end up getting that and a much more skilled staff. We focus a lot on sales, marketing, team management, leadership, and overall personal development. We can’t grow your business if we don’t also grow you and your team.
4. Do you have a specific line of supplements that your company recommends and what is the standard by which you determine that these are a higher quality than others?
We do not require any Pharmacy to use a certain line of products to help their customers. Each Pharmacy is entitled to their own opinions and own research. However, we do have relationships with a few Pharmaceutical Grade Supplement companies that we feel offer a great line of products as well as amazing support/education. We want to put as many people as possible in front of the Pharmacist, but give them the freedom to assess what is best on their own.
5. What type of pharmacy is a good fit for your program?
Any type of Pharmacy can execute our program and have success, but we acknowledge that some are in better positions than others. If you are an independent Pharmacy owner and are open to a new way to grow your business, we can make a great impact on your business. Team members are important and help, but we can coach anyone up through our program. We encourage owners not to “pre-judge” their staff and talk themselves out of why it couldn’t work for them.
6. Is there any guarantee that you offer with your service?
Our guarantee is that if you do the program and follow the steps, you will grow your business. It’s as simple as that. We find that if you give someone a way out (a guarantee), they will resort to it instead of pushing through. Our program is for those who are sick and tired of being sick and tired and want control back in their business. Everything in life takes work. We don’t sugarcoat that our program will take work too.
7. Can you give my readers a rough idea about the cost of your program?
Our program is much like health. The cost of not doing it far outweighs the investment of doing it. Currently, our services range from a few hundred dollars per month to a few thousand depending on how we diagnose what your Pharmacy needs
8. If a pharmacist or pharmacy wants to find out more about this program, what is the best way for them to contact you?
The best way to get in contact with us is through my email (firstname.lastname@example.org) or through our website: www.growthpharm.com. Submit your information and we will share more about the results we have gotten.