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Business strategy
Starting a pharmacy retail outlet
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[QUOTE="Ummigal, post: 87194, member: 28946"] This is a very common type of business that we see in streets. Alot of people operating such stores are making a fairly stable profits. A pharmacy retail store will always thrive in an area with large population especially in rural communities or suburbs of the city. Alot of people would want to save themselves the stress and the time of going to queue up at the general hospitals, so instead they visit local pharmacy outlets for their medications. Especially in tropical Africa where there is a high rate of malaria infection during the hot seasons, alot of pharmacy retail stores are always filled up with people during evenings. So, you might need one or two attendants to assist you in answering the customers. In some cases, if your store is reputable, hospitals might even refer patients to go purchase drugs and some antibiotics from you. So, before venturing into this trade, it is very important for you to have a very thorough and vast knowledge of a wide variety of drugs so that your customers would have a high level of confidence in you, knowing that they can always trust you with their health problems. And even in the short run, you could be making huge sales daily and might be able to reach sales of seventy thousand Naira to a hundred and fifty thousand Naira depending on how big your store is. This also means that after sometimes, you can always open other drug retail outlets as your business expands. [/QUOTE]
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