As a MedPlus Franchisee, you are at an unparalleled advantage to address these challenges encountered in operating a pharmacy
To manage hundreds and thousands of brands and products in terms of sourcing, stocking and payments while managing sales & staff. Advantage@ MedPlus Franchise; Our proven process handles this just at the click of a button. All you need to do is to concentrate on counter sales, staff management, and customer relations
A pharmacy is only successful if it is able to make all requested products available. However, poor inventory planning leads to lock of capital and losses due to unsold and expired stock. Advantage @ MedPlus Franchise; Inventory management and ordering as per local demand is completely automated to avoid additional capital investment needs and minimize losses.
Due to a fragmented and unregulated supply chain, low grade, poor quality medicines are easily available in the market. Protection from them needs investment in process, time and experience
Pharmacy business is a relatively low risk business with a good return on investment, hence competition is high
Advantage @ MedPlus Franchise; Brand recognition and attractive discount and loyalty schemes attract a high number to customers to the store and retain the customers. An independent pharmacy will never be able to offer 20 to 30% savings on medicines that a MedPlus store is offer.
The trade margins for many of the products sold in a pharmacy are low and fixed. To address this, an independent pharmacy has to source less priced private label products with best quality which can happen only if volumes are good and have a domain expertise in sourcing. Advantage @ MedPlus Franchise; MedPlus, due to its huge scale is able to offer a wide range of high quality private label products both in medical and general segments with a higher margin.
Online retail is growing by significant leaps and bounds in India and it is just a matter of time before e-pharmacies will become an established feature of the competitive landscape. This is definitely a threat for an independent pharmacy.
Advantage @ MedPlus Franchise; We are an omni-channel retailer. MedPlus Franchise can service both online and offline customers in that area.
To do well, pharmacies need easy to operate, tamper proof, transparent MIS technology and billing systems which are often expensive to procure and difficult to use Advantage @ MedPlus Franchise; We provide all the systems needed by the franchisee and technology support which enables you to handle the pharmacy – sales, purchases, customer records, bank deposits without any hassle. To reduce billing time we are the first ones in pharmacy business to introduce bar-coded products.
For marketing their products, medical and FMCG brands engage pharmacies to preferentially display their products or to advertise their services to the walk-in customers. Additional revenue benefit will be very minimal as an independent pharmacy.
Advantage @ MedPlus Franchise; Due to our reach and better negotiating capacity, the ability to earn a better income is more through this channel. This is a shared income between the franchise and MedPlus.
To start an Independent Pharmacy of a similar standard to a MedPlus store, a capital investment of Rs. 18 - 20 lakhs is needed, plus an additional investment towards working capital to fund non-moving inventory and initial operating losses.
Advantage @ MedPlus Franchise; You will be able to start with a self investment of 6-8 lakhs, and obtain the rest of the capital in the form of a loan through the financial assistance scheme in place with SBI exclusively for MedPlus Franchisees.
Ability to invest about Rs 6 to 7 lakhs and own a collateral property worth at least Rs 6 lakhs to receive a loan under the special scheme towards remaining investment
Any town with more than 50,000 population would be suitable for a Medplus Pharmacy
A minimum of 300 Sft or more in the main market area with good frontage and unrestricted access to the premises
Total investment required to set up a MedPlus Franchise is between Rs 17.50 to 20 lakhs depending on the location and the size and condition of the premises. This amount covers franchisee fee, refundable security deposit to premises owner (rental advance), interiors, storage racks, furniture, computer systems and printer, branded stationary and initial inventory (stocks).
Of this amount, the franchisee should be able to invest Rs 6-7 lakhs of his own and would be able to obtain the balance as a loan under a special scheme through State Bank of India across India, subject to having a collateral of around 6 lakhs
Operations Commenced On 2006
Franchising / Distribution Commenced On 2015
Investment INR 10lac - 20lac
Franchise/Brand Fee INR 100000
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Exclusive territorial rights to a unit franchise Yes
Anticipated percentage return on investment 30 -50 % %
Likely pay back period of capital for a unit franchise 6 months - 1 year
Other investment requirements no
Type of property required for this franchise opportunity commercial space sui
Floor area requirement 300 sq ft
Preferred location of unit franchise outlet near residential area
Detailed operating manuals for franchisees Yes
Franchisee training location ahemdabad
Is field assistance available for franchisee ? Yes
Expert guidance from Head Office to franchisee in opening the franchise Yes
Do you have a standard franchise agreement? Yes
How long is the franchise term for? 5 Years
Is the term renewable? Yes