Pharmacy and
Buying Essentials

Pharmacy and Buying Essentials is the brainchild of Simon Hambrecht. After returning from the UK and with a background working with major retailers including Disney and Boots, he started Pharmacy and Buying Essentials to create better support and buying opportunities for independent community pharmacies in Australia.

2x

Client Revenue
in 12 Months

20+

New Clients

2+

Additional Revenue
Sources Identified

  • Robust Business Plan Developed
  • Holistic Strategies to Address Multiple Pain Points
  • Ongoing support, guidance and planning

The Challenge

The Australian community pharmacy industry is made up of 5 main segments where independent, non-bannered pharmacies make up the largest percentage. However, with a market in heavy consolidation more pharmacies are looking at ways to remain viable in an increasingly competitive environment.

Pharmacy and Buying Essentials have seen franchisee and member numbers drop in recent years due to increased wholesaler activity. This in turn has impacted revenue in key areas of their business. In order to address this, they recognised the need to reinvent their model to adapt to not only current, but future challenges as well. However, they needed someone with unique industry knowledge to validate their concepts, understand intricate market pain points and to develop a business plan and strategy to help bring their ideas to life.

What We Did To Solve The Problem

In order to understand how to grow their business, understanding what the business is, what problems it aims to solve, and how their model can be updated and implemented in a heavily regulated market was the first task. By working closely with Simon and his team, holding them to account, and building up high levels of rapport from our initial discussions, we were quickly able to understand their challenges and develop a framework to tackle them systematically.

We took a deep dive through their business plan and transformed it into a detailed dossier to guide their business. We explored multiple areas including demographics, market potential, human resourcing, workflows, systems, marketing strategies and onboarding, implementation and sales techniques. Pooling resources through trusted partners, we also met with relevant third parties to get detailed understanding other requirements including financial and technical recommendations.

The Results

By looking at their business holistically and through the lens of a Pharmacist, Pharmacy Owner and Industry Insider, we were able to create a thorough business plan that has since been adapted into a Pitch Deck to draw additional revenue. We were also able to create new sources of complimentary revenue that were not previously conceptualised.

Additionally, through marketing and sales techniques and recommendations, Pharmacy and Buying Essentials have onboarded over 20 new clients and increased revenue by more than double over 12 months.

It takes time to bring ambitious plans to life. As a result, we continue to work closely with Simon and his team to further grow his business and unlock more business potential and revenue.

 

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