Success Stories
Broadway Apothecary prescription for success: LCC small business program
As Eugene’ s first compounding pharmacy, Broadway Apothecary offers custom-made medicines for people and pets. It is the first in the state of Oregon and one of the first in the nation to earn the Pharmacy Compounding Accreditation Board’s new seal of accreditation, awarded to pharmacies that have demonstrated the industry’s highest quality and safety standards.
Owner Kate James made it happen, with help from the Lane Community College Small Business Development Center.
Kate bought Broadway Apothecary about four years ago and needed to expand her business skill set. She described herself as a science-loving pharmacist who happened to buy a pharmacy and needed help learning how to run a business. Several people told her how valuable the Small Business Development Center at Lane Community College was for them and that she should check it out. She did.
Kate worked with the SBDC on fine-tuning business operations, financials and marketing. “It was time that really paid off in building a strong business with a healthy future,” she says. “I participated in the Small Business Management program for three years and am now I’m in the alumni program. It has been a wonderful experience for our business and for me personally.”
“The SBM program has been the absolute best investment I have made in my business and myself since becoming a business owner,” says Kate.
Having cohorts who are also business owners and key employees provided a safe environment to learn the functions of business, hash over ideas, and develop a new skill set. “It amazed me to learn that even though we were all running different businesses, many of our struggles and opportunities were the same. I can’ t think of any other situation that would have allowed us to learn the hands-on lessons and create strong ties with each other the way the SBM program did,” recollects Kate.
Lane’s assistance was vital to the growth and sustainability of Broadway Apothecary in the economic downturn, says Kate. "In fact, since beginning the SBM program, we have grown our business by three full-time employee positions. We have been able to hire new graduates as well as a displaced worker at a time when other companies were struggling."
Kate challenges other business owners to get help with their businesses too. She tells them that running a business is easy—you can run one right into the ground. Running it effectively is another thing entirely. “The SBM program gave me a practical education that I use everyday in our pharmacy that helps me run a more effective business. Where else can you learn applicable and valuable information like that?”
Lane Community College is an equal opportunity/affirmative action institution.
Published October 2010 by Lane Community College Marketing and Public Relations.
