5 Tips for pharmacies for this next quarter

5 Tips for pharmacies for this next quarter

What a fast-paced, ever evolving three months it has been! At Peak Strategies we had an exceptional start to the year and have learnt a lot about how the pharmacy industry might perform for 2023. As always, we want to advise and teach our loyal readers on how to achieve exponential growth for their pharmacy (as a business.) 

That’s why today you have a link to our blog where we share our 5 tips for pharmacies as you enter a new quarter. Don’t sleep on this blog! There are some pearls of wisdom shared.

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Errors pharmacy owners are making with financial statements

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Errors pharmacy owners are making with financial statements

I am writing this blog because some valuations I have been doing lately have highlighted some flaws in the accounting process that sit in the laps of pharmacy owners. It is rare I am unable to complete a valuation (and I have come up against some complicated beasts.) In fact, up until the last couple of months, it has only happened once or twice in +20 years of doing valuations. But it has happened twice in successive months! I have been unable to complete these valuations are the enormous discrepancies in the financial statements compared to the point-of-sale data. Furthermore, I am not taking about a few $’000’s this are several $’00,000’s. Interestingly the owners couldn’t explain the difference and didn’t even know there was one. 

10 Signs You have a Toxic Workplace Culture

10 Signs You have a Toxic Workplace Culture

The first thing a customer experiences as they step into your pharmacy is the vibe of the environment set in your store. This vibe is given off by your staff and how they interact with your customers and those around them. Now when it comes to running your business, how many times have we heard that your team is one of the biggest assets you can have? Well, that’s because this is true however when a work environment turns sour and becomes toxic, it can be detrimental to the business and have the following effects.

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Pharmacies must go back to basics

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Pharmacies must go back to basics

The blog highlighted that the trading levels for 2022 were an anomaly and the market has since shifted dramatically. We can no longer ride the wave of COVID, where Pharmacies were the answer to many of the public’s needs. Your community don’t have to go to you store now, and they don’t have as much to spend than previous years.

Acknowledgement of Country

Peak Strategies acknowledges the traditional custodians throughout Western Australia and their continuing connection to the land, waters and community. We pay our respects to all members of the Aboriginal communities and their cultures; and to Elders both past and present.

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