Hair loss will affect men and women and can happen at any age. Hair loss spending is over 23 Billion dollars annually (at least in 2021).
Yes, that is Billion with a ‘B’. Your pharmacy could be missing its share of this enormous market because you aren’t targeting patients willing to pay cash for products and services.
Don’t Let The Big Boys Steal Your Hair Loss Pharmacy Profit
Companies like Hims, Hers, Roman, and other online companies have made billions of dollars in revenue over the past several years. I bet people in your community have given them their hard-earned money. Why didn’t they give it to you? You weren’t asking for it!!
Let your community know what you can do to help them with their hair loss and how you can do it better than some faceless online company. Don’t continue to let these companies make billions of dollars a year on hair loss stuff that is cash-based and profitable.
Here’s the plan:
- Get The Word Out
- OTC Supplements
Get The Word Out
The only reason that patients are buying from online companies is because they are asking! They are pushing hair loss solutions to them with marketing and asking for the sale! Independent pharmacies already have half of the equation; your patients are already doing business with your pharmacy. All you need to do is the ‘ask’!
- Train every team member to ask every patient and customer to add something to every transaction. Tell them about your specialty products and services, like hair loss solutions!
- Let local doctors know your pharmacy has complete solutions for their patient’s hair loss.
- Have an official launch of your hair loss solution; give it a catchy name! The DiversfiyRx Badass Hair ReGrowth Club!
- Make hair loss the topic of your social media, marketing, inside signage, and PR strategy for your launch month, and then add it continuously to your marketing strategy.
- Create a private Facebook group; the power of folks sharing their struggles and winning with folks with the same experience is priceless.
There are a ginormous amount of supplements for hair loss. We recommend you carry a professional product line. One that your patients cannot buy themselves off of Amazon or online sites. So there is a ton of supplements. Here is a list of some vitamins you may want to consider and some specific brands we recommend to help your patients and boost your pharmacy profit.
- B Vitamins are a mainstay of hair loss formulas. We recommend you use blends made only with the activated forms and explain why those are better.
- Hormone Balancing is often vital for hair loss.
- Emerson Ecologics is a website with many brands and combinations for hair loss. It is a great place to get professional-grade supplements.
- Green II Gold hair serum is a topical ‘vitamin’ for the scalp. It has fantastic ingredients that are proven to help with hair loss.
- Nitric Oxide helps by increasing circulation, which helps bring nutrients to the scalp and flush away excess toxins from the scalp. We recommend AMS’ as their nitric oxide is oxalate-free and very cost-effective.
If you Google devices for hair loss, you might be blown away by the variety of products. We researched many different devices, and here are our favorites and why.
Red Light Therapy Caps
These caps may look like alien protection hats, but they do a ton of heavy lifting for correcting hair loss. Red light therapy has been proven to help increase circulation and stimulate growth, even in the baldest spots. They can vary in price, and you often get what you pay for. I firmly believe some pricier ones are worth their price as we evaluated several companies.
Our top pick for a red light cap is the one from Revian. Revian made top honors for several reasons:
- Money Back Guarantee
- An app that tracks usage
- 3 great options for pharmacy profit
While Revian is not the most expensive, it is towards the top of the cost scale. However, their money-back guarantee stands alone in this space. They also have some amazing science-backed proof that instills confidence. Their purchasing program options allow for great flexibility for pharmacies. You don’t even have to purchase inventory to earn a profit from their caps! To learn more and get buying options, check out Revian HERE.
This little plastic tool with silicone spikes can look too basic to be highly impactful. However, a scalp massager can help apply topical OTC or Rx products to the scalp. And the physical manipulation it causes helps increase blood flow too. You can get these from OTC product companies like MatchSquare or other online retailers.
We can’t leave out prescriptions! Many prescriptions will work by themselves, and many will leave patients and prescribers deeply disappointed. You can help medications work better by recommending adjunct therapies we mention here. Increasing blood flow and providing proper nutrients will boost the effectiveness of all treatments.
- Anti-fungal meds
- Custom compounded solutions
Our favorite resource for learning about leading-edge hair loss treatments is a fantastic membership site called Perfect Hair Health. We have got to know the owner and some of their team, and they are both clinically sound and even entertaining in their education. If hair loss is a top priority niche for you, joining their low-cost membership is a must!
Hair loss is a great niche to grow your cash-based revenues and decrease your reliance on PBMs for profit. To learn about more profit-creating programs, visit our Pharmacy Badass University Membership or attend our Pharmacy Profit Summit in Dallas.