One of the desires of many pharmacy owners is to diversify their revenue streams to grow.
While we know that dispensing medications is a main function, expanding services and offering educational classes is a great way to add additional revenue and establish your pharmacy as a community resource.
Community education, also known as community-based education or community learning & development, allows pharmacy owners to promote learning and social development with individuals and groups in their communities using various formal and informal methods.
Grow your independent pharmacy with community education.
Community members are always looking for ways to improve their health, and educational classes have become their go-to option. The reason is simple – community education classes provide valuable, informative, and empowering wellness information.
From cooking classes that teach you new healthy recipes to yoga classes that improve your flexibility and balance, educational sessions improve health and well-being, and they offer a chance to connect with like-minded individuals and learn from their experiences, making learning more engaging and enjoyable.
As a pharmacy owner, you can help people live happier and healthier lives by sharing your expertise and knowledge with others. As it relates to increased pharmacy revenue, these classes can become a fantastic marketing opportunity for your pharmacy. Showing your community that you’re more than just a place to pick up prescriptions.
Generate additional revenue and increased foot traffic.
Educational classes should be offered as paid workshops, and depending on the topic and duration, fees for these classes should cover costs while also providing added profits to your pharmacy business.
Educational classes also serve as a powerful magnet for multiplying foot traffic to your pharmacy. As you promote these classes through your pharmacy and local community, you attract new customers who may have yet to visit your store. Each class presents an opportunity to engage with attendees and convert them into loyal patrons.
Tap into niche markets.
When designing educational classes, consider targeting niche markets or specific health concerns. For example, classes on diabetes management, eldercare, nutrition, weight loss, or mental health can attract individuals seeking specialized knowledge. Your pharmacy can quickly become the go-to resource for specific health-related information and products by focusing on particular niches.
Hot topics come and go, so you should capitalize on them while popular. Right now, weight loss and GLP-1s are hotter than the sun. Consider adding weight loss coaching classes or accountability check-ins for patients trying to lose weight. These services help your patient along their health journey and will boost your pharmacy’s profits.
Focus on topics important to your ideal target market (aka your perfect patient). Hosting a Wine, Women, and Wellness event makes perfect sense if you compound hormones.
Collaborate with other local healthcare professionals.
Pharmacies should consider partnering with local physicians, nurses, dietitians, and specialists to host joint educational classes. This collaboration enhances your credibility and provides a wider variety of perspectives on important health topics so that each expert brings unique insights and knowledge.
By working together, you can also draw a larger audience of individuals interested in learning from a diverse group of industry professionals.
Host an educational workshop in a space that suits you.
While we recommend hosting classes inside your pharmacy, sometimes that isn’t possible. Other options, often free of charge, are hospital classrooms, community college rooms, local churches, or community centers. You can also host online classes using Zoom or Facebook Groups. If your pharmacy focuses on men’s health and ED, consider hosting an educational class in a local sports bar.
Whatever your choice, your community will appreciate the opportunity to learn something new and potentially life-changing.
Enhance brand visibility.
Promoting your educational classes through social media, local advertisements, and community events will significantly enhance your pharmacy’s brand visibility. As people attend and share their positive experiences, your pharmacy will start to gain recognition as a reputable healthcare provider in the community.
Differentiate from competitors.
The advantages of introducing educational classes in your pharmacy create value differentiation and set your pharmacy apart. While some pharmacies might focus solely on selling products, your commitment to customer education demonstrates a higher dedication to improving the community’s health.
Community education classes are a win-win for both you and your community. The opportunity they provide for you to form meaningful relationships with your attendees can lead to long-term patients and referrals.