Sure. Just to put things into perspective, most of my experience/knowledge of the retail industry I have comes from working in retail chains. Adbie, I think it will be quite a complete picture after you share what you know about family businesses.
Where shall we start? Hmm... Okay, I think I know what.
A lot of my friends have been asking me why don't I start my own retail pharmacy? Be your own boss, they say. Not that the idea didn't cross my mind, but I have yet to come up with a good strategy to compete with the giants.
Typically, people think that the giants tend to charge higher prices compared to private retailers. That doesn't apply for my industry (healthcare) though. Walk into any shopping complex and chaces are you will find at least one pharmacy from W, G or U. The most effective way for a distributor to reach the consumers would be to get the three major chains to sell his product
Pharma companies typically give chain stores better cost prices and also pay extra money to have their products displayed in prominent spots. This allows the chain stores to actually sell things at a lower cost than private retailers.
Not impossible but it's really quite tough. Any good suggestions?
Quote:
Originally Posted by adbie
I will share more of what I know (mostly first-hand knowledge from family's small biz) after my lunch appointment.
Husky, please start the ball rolling if you don't mind |