<p>MedPlus franchise is among the most sought after medical franchise in Over The counter drugs retail category.</p> <h3 class="wow fadeInUp delay02s">Why Pharmacy business?</h3> <ol> <li class="wow fadeIn delay02s">Medicines are an essential daily need just like food, clothes and shelter</li> <li class="wow fadeIn delay02s">Pharmacies can be operated round the year, round the clock, given all the licenses and permissions acquired</li> <li class="wow fadeIn delay02s">It’s a recession free business. Families may cut down on luxuries but continue to purchase medicines to maintain health</li> <li class="wow fadeIn delay02s">If the pharmacy is able to manage its stock well and make the necessary products available in time, then success is assured</li> </ol> <h3 class="wow fadeInUp delay02s">What is the future of pharmacy business? Will it continue to be attractive?</h3> <ul class="ul-content"> <li class="wow fadeIn delay02s">With an increase in the average lifespan, changing lifestyle conditions and access to healthcare facilities, there is an increasing demand for healthcare products such as medicines, surgical items and wellness products and services across the country</li> <li class="wow fadeIn delay02s">As per the market surveys, the current size of the Indian pharmacy market is about Rs 80,000 Crores and is expected to cross Rs 160,000 Crores by the year 2020</li> <li class="wow fadeIn delay02s"><span style="color: #333399;">Organized retail pharmacy</span> chains like MedPlus franchise have around 6-7% market share</li> <li class="wow fadeIn delay02s">The retail pharmacy industry is expected to grow around 20% year on year with organized pharmacies increasing their market share to around 30% of the market by 2020</li> </ul> <h3 class="wow fadeInUp delay02s">What are the operational activities involved in running a retail pharmacy?</h3> <ul> <li class="wow fadeIn delay02s">Retail pharmacy is similar to a trading business</li> <li class="wow fadeIn delay02s">Operations primarily consist of sourcing the required medicines and other general products from many suppliers and selling them to the end customers through the retail counter</li> </ul> <h3 class="wow fadeInUp delay02s">To be able to do this successfully, a pharmacy should be well versed in these:</h3> <ol class="ol-content"> <li class="wow fadeIn delay02s">Identifying and estimating the demand for the products in the area</li> <li class="wow fadeIn delay02s">Maintaining stock levels and ensuring availability of the products at MedPlus Franchise</li> <li class="wow fadeIn delay02s">Minimizing stock loss due to expiry, damage, theft or pilferage</li> <li class="wow fadeIn delay02s">Identifying multiple suppliers for all the products</li> <li class="wow fadeIn delay02s">Negotiating prices, discounts and payment terms with the suppliers</li> <li class="wow fadeIn delay02s">Procuring in time and as per need</li> <li class="wow fadeIn delay02s">Maintaining necessary registrations, documentation and procedures to comply with the laws of the state and drug regulatory authorities</li> <li class="wow fadeIn delay02s">Maintaining a record of customer details, sales data and stock outs</li> <li class="wow fadeIn delay02s">Continuous updating of stock based on knowledge acquired over time</li> <li class="wow fadeIn delay02s">Managing the staff members involved in the pharmacy operations</li> <li class="wow fadeIn delay02s">Managing cash with an understanding of costs, revenue, profit and loss</li> <li class="wow fadeIn delay02s">Satisfying customers with great service</li> <li class="wow fadeIn delay02s">Generating demand by marketing and promotional schemes</li> </ol> <h3 class="wow fadeInUp delay02s">Why MedPlus Franchise?</h3> <ul class="ul-content"> <li class="wow fadeIn delay02s">MedPlus brand is highly recognized and well trusted for its integrity and the great benefits it offers to its customers</li> <li class="wow fadeIn delay02s">MedPlus has successfully built the largest retail pharmacy chain in India in the shortest time</li> <li class="wow fadeIn delay02s">MedPlus operates a network of stores across 12 states and over 150 cities with over 1350 successful pharmacies</li> <li class="wow fadeIn delay02s">Medplus is well known for providing quality and genuine medicines, superior customer service and great value for money</li> </ul> <h3 class="wow fadeInUp delay02s">As a MedPlus franchise</h3> <ul class="ul-content"> <li class="wow fadeIn delay02s">You can carry the pride of our success in your locality in a reputable profession with an assured income</li> <li class="wow fadeIn delay02s">You are assured of the best training, knowledge, and support for running a large pharmacy because of our strong operations expertise and sourcing, technology and execution capabilities</li> <li class="wow fadeIn delay02s">You get to run a highly recognized brand pharmacy with a large mix of medical and general products at a very reasonable investment of Rs 17 lakhs to Rs 20 lakhs</li> <li class="wow fadeIn delay02s">You can avail a credit facility or loan from State Bank of India under a special scheme for about 60% of your investment requirement</li> <li class="wow fadeIn delay02s">You generate a volume of business that is 2 or 3 times higher than the competition and enjoy higher customer retention and repeat purchases due to our brand pull and the attractiveness of our loyalty and reward program – FlexiRewards</li> <li class="wow fadeIn delay02s">You generate higher profits by having access to our high-quality private label brands with higher margins</li> </ul> <h3 class="wow fadeInUp delay02s">What are the advantages of a MedPlus Franchise in comparison with an independent pharmacy store?</h3> <p class="wow fadeIn delay02s">As a MedPlus Franchisee, you are at an unparalleled advantage to address these challenges encountered in operating a pharmacy</p> <p><strong>Challenge 1: <small>Sourcing a high number of SKUs(Products) from a highly fragmented market</small></strong></p> <p class="wow fadeIn delay02s">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</p> <h4 class="color-dblue wow fadeIn delay02s">Challenge 2: <small>Proper inventory planning</small></h4> <p class="wow fadeIn delay02s">A pharmacy is only successful if it is able to make all requested products available. However, poor inventory planning leads to lack 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.</p> <p>Read about <a href="https://frantiger.biz/listing-category/retail-distribution/">Retail Franchise</a></p> <h4 class="color-dblue wow fadeIn delay02s">Challenge 3: <small>Low quality and fake medicines</small></h4> <p class="wow fadeIn delay02s">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</p> <h4 class="color-dblue wow fadeIn delay02s">Advantage @ MedPlus Franchise</h4> <ul class="ul-content"> <li class="wow fadeIn delay02s">MedPlus minimizes this by sourcing all products directly from manufacturers and its direct authorized distributors only</li> <li class="wow fadeIn delay02s">The stocks are then meticulously maintained in proper storage conditions during warehousing and transportation to the pharmacies</li> </ul> <h4 class="color-dblue wow fadeIn delay02s">Challenge 4: <small>Competition </small></h4> <p class="wow fadeIn delay02s">Pharmacy business is a relatively low-risk business with a good return on investment, hence competition is high</p> <p class="wow fadeIn delay02s">Advantage @ MedPlus Franchise; Brand recognition and attractive discount and loyalty schemes attract a high number of 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 offers.</p> <h4 class="color-dblue wow fadeIn delay02s">Challenge 5: <small>Profitability and Gross Margins</small></h4> <p class="wow fadeIn delay02s">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 the best quality which can happen only if volumes are good and have a domain expertise in sourcing.<br /> 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.</p> <h4 class="color-dblue wow fadeIn delay02s">Challenge 6: <small>Online pharmacies </small></h4> <p class="wow fadeIn delay02s">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 to an independent pharmacy.</p> <p class="wow fadeIn delay02s">Advantage @ MedPlus Franchise; We are an omnichannel retailer. MedPlus Franchise can service both online and offline customers in that area.</p> <h4 class="color-dblue wow fadeIn delay02s">Challenge 7: <small>IT systems & Technology Support</small></h4> <p class="wow fadeIn delay02s">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 franchise 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.</p> <h4 class="color-dblue wow fadeIn delay02s">Challenge 8: <small>Additional sources of revenue </small></h4> <p class="wow fadeIn delay02s">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.</p> <p class="wow fadeIn delay02s">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.</p> <h4 class="color-dblue wow fadeIn delay02s">Challenge 9: <small>Investment capital</small></h4> <p class="wow fadeIn delay02s">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.</p> <p class="wow fadeIn delay02s">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.</p> <h3 class="wow fadeInUp delay02s">What support does MedPlus provide to the franchise?</h3> <ul class="ul-content"> <li class="wow fadeIn delay02s">Assistance with selecting the right location for the store</li> <li class="wow fadeIn delay02s">Help with store identification and lease finalization</li> <li class="wow fadeIn delay02s">Complete layout plan, branding materials and furniture and systems required</li> <li class="wow fadeIn delay02s">Training for the franchise and its staff</li> <li class="wow fadeIn delay02s">Facilitate a bank loan if required</li> <li class="wow fadeIn delay02s">Supply all products sold through the store</li> <li class="wow fadeIn delay02s">Operational support through the running of the store</li> <li class="wow fadeIn delay02s">Audit support</li> </ul> <h3 class="wow fadeInUp delay02s">What is the eligibility criteria to be a franchise or who can become a franchise?</h3> <h4 class="wow fadeInUp delay02s">Basic Profile:</h4> <ul class="ul-content"> <li class="wow fadeIn delay02s">Individuals willing to work hard, diligent and dedicated</li> <li class="wow fadeIn delay02s">Should be willing to personally manage the pharmacy operations rather than through employees</li> <li class="wow fadeIn delay02s">Should have the ability to do basic mathematics and understand trade terms, margins, profit & loss</li> </ul> <h4 class="wow fadeInUp delay02s">Education & Experience:</h4> <ul class="ul-content"> <li class="wow fadeIn delay02s">A pharmacist qualification is helpful, however, it is not mandatory</li> <li class="wow fadeIn delay02s">At a minimum, a candidate should have completed SSC or Intermediate level education</li> <li class="wow fadeIn delay02s">Prior experience in a pharmacy or managing a small business will be favourable</li> </ul> <h4 class="wow fadeInUp delay02s">Investment Capacity:</h4> <p class="wow fadeIn delay02s">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</p> <h3 class="wow fadeInUp delay02s">In what locations are the franchises offered?</h3> <p class="wow fadeIn delay02s">MedPlus Franchises will become available across India.</p> <h4 class="wow fadeInUp delay02s">Location & Premises Criteria:</h4> <p class="wow fadeIn delay02s">Any town with more than 50,000 population would be suitable for a Medplus Pharmacy</p> <p class="wow fadeIn delay02s">A minimum of 300 Sft or more in the main market area with good frontage and unrestricted access to the premises</p> <h3 class="wow fadeInUp delay02s">What are the investment details for a franchise store?</h3> <p class="wow fadeIn delay02s">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 franchise fee, refundable security deposit to premises owner (rental advance), interiors, storage racks, furniture, computer systems and printer, branded stationery and initial inventory (stocks).</p> <p class="wow fadeIn delay02s">Of this amount, the franchise 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.</p>
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