WIZARD Pharmacy has hosted workshops with its franchisees to deliver the group's strategies to reduce the impact of 60-day dispensing.
The workshops involved a state-of-play analysis involving a deep dive into franchisees' current financials to identify areas of improvement and then moved on to identify the 10-step approach recommended.
Wizard Pharmacy Chief Operating Officer Sally Parker emphasised that their franchisees were not alone in navigating these challenges.
"We have come up with a variety of recommendations that, based on our current calculations, have the potential to not only minimise the potential loss of revenue from 60-day dispensing but increase our revenue.
"Some of the strategies include a new global Eftpos deal, ideas on how to reduce the naked script count from our 24% average and emphasis on meeting our current KPIs, including dead stock <5% and Wizard Rewards sign-ups, which are all supported by the frequent in-store visits from our support services teams," said Parker.
Franchisees were also given access to Wizard Pharmacy's Opportunity Calculator, allowing franchisees to plug in their calculations to see how these recommendations would improve their returns.
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