INR 10 Lac - 20 Lac
Investment Range
300 sq ft
Area Required
20-50
Franchise Outlets
2000
Establishment Year
Medplus pharmacy Products and Services
MEDPLUS PHARMACY PRODUCTS AND SERVICES
MedPlus is highly recognized and well trusted brand for its integrity and the great benefits it offers to its customers. It has successfully built the largest retail pharmacy chain in India in the shortest time and operates a network of stores across 12 states and over 150 cities with over 3975+ successful pharmacies. Medplus is well known for providing quality and genuine medicines, superior customer service and great value for money.
What are the operational activities involved in running a retail pharmacy?
- Retail pharmacy is similar to a trading business
- 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
To be able to do this successfully, a pharmacy should be well versed in these:
- Identifying and estimating the demand for the products in the area
- Maintaining stock levels and ensuring availability of the products
- Minimizing stock loss due to expiry, damage, theft or pilferage
- Identifying multiple suppliers for all the products
- Negotiating prices, discounts and payment terms with the suppliers
- Procuring in time and as per need
- Maintaining necessary registrations, documentation and procedures to comply with the laws of the state and drug regulatory authorities
- Maintaining a record of customer details, sales data and stock outs
- Continuous updating of stock based on knowledge acquired over time
- Managing the staff members involved in the pharmacy operations
- Managing cash with an understanding of costs, revenue, profit and loss
- Satisfying customers with great service
- Generating demand by marketing and promotional schemes
Franchisee Details:
- You can carry the pride of our success in your locality in a reputable profession with assured income
- 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
- 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
- You can avail a credit facility or loan from State Bank of India under a special scheme for about 60% of your investment requirement
- You generate a volume of business that is 2 or 3 times higher than competition and enjoy higher customer retention and repeat purchases due to our brand pull and the attractiveness of our loyalty and reward program – FlexiRewards
- You generate higher profits by having access to our high quality private label brands with higher margins
What are the advantages of a MedPlus Franchise in comparison with an independent pharmacy store?
As a MedPlus Franchisee, you are at an unparalleled advantage to address these challenges encountered in operating a pharmacy
- Sourcing a high number of SKUs(Products) from a highly fragmented market
- Proper inventory planning
- Low quality and fake medicines
- Competition
- Profitability and Gross Margins
- Online pharmacies
- IT systems & technology Support
- Additional sources of revenue
- Investment capital
What support does MedPlus provide to the franchisee?
- Assistance with selecting the right location for the store
- Help with store identification and lease finalization
- Complete layout plan, branding materials and furniture and systems required
- Training for the franchisee and its staff
- Facilitate a bank loan if required
- Supply all products sold through the store
- Operational support through the running of the store
-
Medplus pharmacy Cost and Investment
Commenced Operations
Operations commenced on2000Franchise commenced on2015Franchise Details
UNITS
InvestmentINR 10 Lac - 20 LacFranchise/Brand fee1000000Royalty/Commission00%Details
Exclusive territorial rights to a unit franchiseeYesAnticipated percentage returns on investment50%Likely payback period1 yearOther investment requirementsNo
Medplus pharmacy Expansion Plans
NORTH
Delhi,
Haryana,
Himachal Pradesh,
Jammu & Kashmir,
Punjab,
Uttar Pradesh,
Uttarakhand,
SOUTH
Andhra Pradesh,
Karnataka,
Kerala,
Tamil Nadu,
Telangana,
EAST
WEST
CENTRAL
UNION TERRITORIES
Medplus pharmacy Property Requirements
Type of property required for this franchise
Commercial
Floor area requirement
300 sq ft
Preferred location of unit
India
Medplus pharmacy Training
Training location
Head Office
Expert guidance from head office
Yes
Field assistance
Yes
Current IT systems included
No
Medplus pharmacy Agreement Details
Do you have a standard franchise agreement?
Yes
How long is the franchise term for?
Lifetime
Is the term renewable?
Yes
About Franchise Times
Who We Are?
Franchise Times was promoted by professionals with over 25 years of hands on experience in Franchising. The foundations of Franchise Times were laid to assist entrepreneurs from start-ups, SMEs NGOs and corporates to develop sustainable franchise networks. Our multi-disciplinary and tested approach ensures that the appropriate talent and experience are applied at every stage of our work to ensure our clients' business needs are served professionally and in a cost effective manner.At Franchise Times our success is measured by the growth of our clients' businesses. Within a decade of operation we have created over Rs. 5 million worth of enterprise value for our clients. We've advised over 200 networks and established multiple franchised network locations in India and abroad. We know exactly what it takes to grow a business - many of our clients have come to us with a single location and we've assisted their expansion to India and abroad.
Franchising is a wonderful way to go into business for yourself, but not by yourself. Franchising is an example of teamwork at its best, bringing together talents of a dedicated professionals and management team with hard work, zeal and entrepreneurial spirt of franchisees at the local level to serve our customers.
What We Do?
Franchise Times can help you expand your network in existing and new markets (globally), acquire new clients and increase your revenue, all at a substantially reduced costs.At Franchise Times we follow an innovative approach that offers customized solutions to meet your specific needs in franchising. Staffed with professionals in sales, marketing, logistics and legal who are well empowered and phone-productive, we bring transformational rewards to your business.
Our offering include
- Franchise Opportunities
- Buisness Consulting
- Digital Consulting
- Awards and Events