Retailer and Pharmacy Company Case Study
Retailer store offering traditional pharmacy services alongside holistic remedies.
Services: Real estate review, Space management and category management, New store layout design, Innovative product merchandising, Updated store signing and product information, Improve revenue, gross margin and bottom line profits
As an alternative healthcare retailer with a pharmacy, this company has been a force for change in the world of natural health and beauty, empowering customers to think outside the box when it comes to the way they manage their own health and the products they use. The company was a ten store retailer and pharmacy that was poised to grow exponentially, but needed professional management to assist in the growth process.
The entrepreneurial retailer needed to align the organization around a “Fitness Framework” that coordinated the efforts of the entire leadership team around a common plan that could be executed flawlessly.
Parker and his team were able to develop a strategic plan that would enable the company to:
- Grow revenue, margins and profits
- Raise additional capital from private equity sources
- Professionalize the operating systems of the retailer
- Increase the value of the business
- Develop the systems and processes that would enable the company to perform and deliver results
The components of the business plan were designed to include the following components:
- Customer Experience
- Competitive Positioning and Value Proposition
- Retail Store Design and Scalability
- Merchandising and Product Assortment
- Financial Management
- Retail Information Systems
- Supply Chain Management
- Operations Management
- Organizational Design
- Marketing and Sales Promotion
- Board Governance
The retail pioneer specializing in pharmacy, OTC drug, and body care products has moved beyond its entrepreneurial roots to a well-respected industry player, maximizing funding from leading private equity firms. Corporate growth has advanced through well-crafted business, financial, strategic operating, and merchandising plans.
- Devised and executed a strategic plan driving the number of store locations from 10 to 23 as part of an overall goal to launch 30 sites yielding $100M in sales volume.
- Participated in the capital raise of $15MM from a large private equity firm that enabled the company to expand and cluster stores in key markets.
- Instituted a merchandise category management plan that decreased inventory by 15% while increasing revenue by 21%.
- Utilized advanced space management techniques in the new store design which outperformed the balance of the fleet.
The company has grown exponentially and has established itself as a premiere and innovative alternative health and pharmacy retailer in the Western portion of the United States.