Download America's Corner Store: Walgreen's Prescription for Success by John U. Bacon PDF

By John U. Bacon

"This is the tale of Walgreens, the main profitable drugstore chain within the usa. From its founding as a family-run shop in Chicago in 1901, Walgreens has grown into one of many greatest meals and drug shops on this planet. With greater than 3,600 shops national and the 6,000th scheduled to open by way of 2010, Walgreens has controlled to outlive or even thrive while different, better-known rivals, haven't - incomes usual spots on Fortune magazine's lists of such a lot well-liked and most sensible appearing businesses. the tale of Walgreens' striking upward thrust to the head is one in every of grit and gumption, expertise and tenacity, and an unfailing dedication to outdated down-home values. This booklet bargains either a colourful slice of Americana and a compelling company profile, interweaving own anecdotes with ancient and financial insights.

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Example text

31 The professionalization of pharmacy accelerated after the Civil War, when pharmaceutical boards, associations, and university programs sprung up all over the eastern half of the continent. Even in their embryonic states, these governing bodies proved helpful in establishing professional standards, forwarding the cause of pharmacy education, and working to keep some of the seedier elements out of the field—including addictive drugs like opiates and narcotics, which were not illegal or even regulated until the twentieth century.

So the drugstore customer back then had to put a lot more faith in the pharmacist than we do today. All these painstaking tasks, however, didn’t generate much revenue. Only 2 percent of Walgreens’ profits came from the pharmacy department in the company’s first decades, whereas two-thirds of the store’s intake was from tobacco and soda fountains. While other proprietors required customers to walk to their stores and wait for the pharmacist to get to them, in due time, Walgreen encouraged his patrons to call their orders in.

It wasn’t much of a store, even by the standards of 1898: just 20 feet by 50 feet, much smaller than Valentine’s. Mr. Blood’s store was dank and dingy, lit by dangerous and shadowy gaslights, with narrow aisles and cracked and dirty tile floors. 51 TLFeBOOK 28 america’s corner s tore The products on the shelves were of uneven quality, and Walgreen himself could honestly not vouch for all of them. This was the store where Walgreen worked, an almost perfect example of what pharmacy was like at the time, for better or for worse.

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