Recently, I was having a conversation with my clinic accelerator client about how he wants to expand his clinic and double his space. Part of his renovation plans are to build a product retail area into the clinic.
I asked him: “Why do you want to sell retail?”
He said: “I believe in the complete care model and my competitors - physiotherapist and chiropractors - are all offering products so I need to remain competitive.”
That’s smart business.
Patients are always going to purchase products they need. If you don’t offer them products they will buy poor quality, bad fitting products from the dollar shop or pharmacy. Or, they may even purchase them from competitors.
And let me share a little secret, your product sales should makeup 5% to 10% of your gross revenue. If you’re doing $300K of annual gross revenue, that’s $30K. If you’re doing $500K, that's $50K. If you’re doing $1M, that’s $100K. Regardless of your revenue, you can see that adding product boosts up your bottom line.
And, it’s not difficult to do, if you just know how to do it right.
So, in this post we’ll lay out:
- The wrong way to set up product displays
- How to display product like the professionals
- Tips for making a display look awesome
- Secrets to selling product at your clinic
Lots of examples included! You ready?