Riding high on the healthcare and wellness upswing, Maharishi Ayurveda is all set to expand its healthcare centres in India through franchising.
What is Maharishi Ayurveda's business and what products and services does it offer?
Established in 1986, Maharishi Ayurveda is the brainchild of the legendary Maharishi Mahesh Yogi, the founder of transcendental meditation. Today, Maharishi Ayurveda Group of Companies is an established multinational and multi-dimensional conglomerate with presence in over 140 countries. We have affiliations with reputed R&D institutes, including AIIMS, Delhi; KG Medical Institute, Lucknow Tata Memorial Cancer Hospital, Mumbai; Ohio State University, US and University of Toronto, Canada. Maharishi Ayurveda holds numerous quality certifications. We are the first ISO 9001-2000, HACCP, GMP, WHO GMP, GLP and BDIH certified organisation in the sector. Maharishi Ayurveda products are marketed in over 60 countries, spanning America, Europe and Asia.
What is the scope of Ayurveda in the healthcare and wellness sector?
The healthcare and wellness industry has risen tremendously in the past few years. It has demonstrated consistent growth even during the recent global meltdown. According to the World Health Organisation (WHO), nearly 80 per cent of the world's population depend on herbal medicine for their primary healthcare requirements, pushing Ayurvedic medicine export to $100 million per annum. Relatively, traditional herbal preparations account for 30-50 per cent of the total medicinal consumption in India. The Indian healthcare market is poised to grow from $53 to $73 billion in the coming years, with wellness services contributing Rs 110 billion. Accordingly, the Indian Ayurvedic industry scaled up at a phenomenal pace of Rs 8,000 crore. It is expected to grow substantially in the next 10 years at a rate of 12-15 per cent every year.
How many healthcare centres are you mulling over in the next two years?
We are aiming at 200 centres across India in the next two to five years. We will expand through strategic franchise expansion.
What kind of training and support do you extend to your franchisees?
We offer pre-opening support, which includes infrastructural and design-related assistance, marketing and advertisement support, recruitment and training of doctors, therapists and administrative staff. Once the outlet begins operations, our franchise development team helps them in sourcing appropriate raw material through our proven and approved supplying network, maintenance of infrastructure at the desired level and operational support.
How do you ensure quality products and services in your franchised centres?
For that, we have our in-house research and development labs, which have been acknowledged by the Department of Science and Technology, Government of India.
For Indian market we have a range of 350 products that we will offer to the franchisee. They are ayurvedic formulations. These highly effective medicines are classified as 'classical products' and 'patent proprietary products', prepared naturally by certified herbal formulas, supported by our extensive in-house research, tests and clinical trials.
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