Entrepreneur Background 41 years of age Has lived here for 30 years Was a fairly average student Has a Bachelor of Business

Administration, Science, and Pharmacy

He was 20 when he first opened up his business

Entrepreneur Background His parents used to own his

business Has a sister and brother

who own a business Used to work in his

business with his father Doesn’t have another job

besides owning Central Pharmacy

Also owns Lynken Estates

About Work

Works at his business all the timeWorks as a manager, does shifts in the

pharmacy and in the labDoes research during the daySays that keeping the business up to

date is a full time job

Business Background

Has been open now for 30 years Primarily located on Union Street Offers specialized, conventional,and retail

pharmacy Sells cosmetics, magazines, food, etc Does consultations Employs 27 people

Startup

Didn’t have a business idea Mr. Dicks bought his business from his father Bought it because he loved pharmacy and

looked forward to the challenges and creativity involved

It was not a spontaneous decision Mr. Dicks didn’t make a business plan Used most of his own funds to buy the

business

Challenges/Setbacks

When starting up there are: Staffing pressures Competitive issues Technological issues

Tough times A lot of stress is put on you from your business Have to be willing to put a lot into your business

to keep it going

Example: Doctor’s strike

Challenges/Setbacks (cont)

When faced with a new competitor you should: Behave respectfully toward the business Keep the same goals Don’t keep lowering prices

It’s not all about the prices. Sometimes if you deliver, are closer or are open later, the customer would be willing to pay extra.

Accomplishments

Is glad that his business has been open and maintained for so long

Won provincial and national awards

Feels that he has met the challenge of opening a business

Because of this, he has achieved self satisfaction and self confidence

Successful Business

According to Mr. Dicks, a successful business is: One that has a significant offering of products and services Makes a difference to people Satisfies a need Expands and looks for more profits Offers quality services, as well as fair prices Offers “extra” services such as delivering, being open later,

etc.

Medical Lollipops Mr. Dicks is involved with the

Professional Compounding Centers of America

He makes medicated lollipops to improve children’s medication compliance

Has made lollipops containing sore mouth and sore throat medications

In the future he is working on a lollipop containing gravol

He uses all non prescription drugs in the lollipops

Future Plans There is going to be

tough times; challenges There’ll be lots of

opportunities There’ll be more well

ness clinics Diabetes, Cholesterol

clinics More consultations He doesn’t plan on

keeping the business in the family when he retires

Advice Have good vision Be able to think

strategically Be dedicated Love what you are doing Have good foresight Be realistic and know that

there is a hard road ahead Stick to your core

principles Be cognizant of staff Be respectful of other

businesses

Advice (cont) Have to have longevity Can’t be naïve Have to have many skills Be able to recognize your

weaknesses and find people to fill them

Be able to address all things In the end it’s all one big

package and that package has to be complete and the customer has to be satisfied

Our comments

Re-starting the businessBurger storyOur opinions/observations

on the interview processCentral Pharmacy

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