In India, MedPlus is one of the leading and fast growing healthcare retail chains which was started by the Dr Madhukar Gangadi in the year 2006. In recent years, MedPlus has grown into 1400 pharmacies throughout the country. It serves over 2,50,000 customers daily and employs over 10,000 people. MedPlus helps persons who prefers to be self-employed by helping starting a MedPlus Pharmacy franchise to attain success in the pharmacy business. In this article, we view the process for setting up MedPlus franchise in detail. To know about Apollo Clinic franchise click here.
Pharmaceutical Industry in India
With an increase in the changing lifestyle conditions and an average lifespan and approach to healthcare facilities, there is a rising demand for healthcare and wellness products all throughout the world. As per the surveys of the pharmacy market, the recent measure of the Indian pharmacy market is around Rs 80,000 Crores and is expected to cross Rs 160,000 Crores by 2020. The retail pharmacy sector is expected to grow by approximately 20% year on year with organised pharmacies increasing their market share to about 30% of the market by 2020.
MedPlus Mission and Vision
The mission of MedPlus is to be the premier choice of customers for their health and wellness by understanding their needs and exceeding their expectations, and the vision of MedPlus is to revolutionise healthcare delivery in India.
Why MedPlus Franchise?
- The MedPlus is highly recognised and trusted brand for its integrity and the benefits it offers to the buyers.
- MedPlus runs a network of stores in over 12 states and across 150 cities and with 1350 pharmacies.
- Medplus is well-known for rendering quality and genuine medicines, superior customer service and great value for money.
Eligibility Criteria to become a MedPlus Franchisee
An ideal franchisee needs to have the following characteristics to become a MedPlus Franchisee.
- Individuals were capable of working hard, diligent and dedicated.
- Should be able to manage the pharmacy operations rather than through employees personally.
- Should have the capacity to do the fundamental calculation and understand trade terms, margins, profit & loss.
- A pharmacist qualification is helpful. However, it is not mandatory.
- At a minimum, the candidate should have finished the Intermediate level education or SSC.
- Previous experience in a pharmacy or managing a small business will be beneficial.
Advantages of Becoming MedPlus Franchisee
There are various benefits to becoming a MedPlus Franchisee are as follows:
- Maintaining thousands of brands and products regarding sourcing, stocking and payments while managing sales and staff is more accessible when it comes within MedPlus.
- MedPlus Franchise Inventory management and order as per local demand is entirely automated to avoid additional capital investment needs and minimise losses.
- Brand recognition and increased discount and loyalty schemes attract a large number of customers to the store and retain the customers.
- MedPlus due to its vast scale can offer a wide range of high-quality private label products both in medical and general segments with a higher margin.
- MedPlus franchise serves as an omnichannel retailer.(i.e) it can service both online and offline customers in that area.
- Due to our reach and better-negotiating capability, the skill to earn a better income is more through this channel.
The MedPlus outlets are set-up with square feet ranging from 300 Sq.ft.-500 Sqft; and the location preferred in potential areas with excellent frontage.
Total expenditure expected to set up a MedPlus Franchise is of Rs 17.50 lakhs to 20 lakhs varying from the location and the size and condition of the premises. The investment includes franchisee fee, refundable security deposit to premises owner (rental advance), interiors, storage racks, furniture, computer systems and printer, branded stationery and necessary inventory (stocks).
Term of Agreement
The franchisee needs to sign an MOU which contains the written statement about the company terms and condition will sign a franchise agreement with selected franchise owner for certain years initially. The agreement is however renewable if both the parties agree.
Regions of Operation
MedPlus Franchises will become accessible over India. Though, in the beginning, franchises are being offered only in the states of Andhra Pradesh, Telangana, Tamil Nadu and Karnataka. Any town with more than 50,000 population would be suitable for a MedPlus Pharmacy.
MedPlus Franchise Training and Support
The following services are afforded by the franchisor for setting up a MedPlus franchise
- Assistance in all aspects of operating the franchise.
- Assistance in selecting the proper location for the store.
- Help with store identification and lease finalisation.
- Support in entire layout plan, branding materials and furniture and systems required.
- Training for the franchise and its staff.
- Facilitate a bank loan if required.
- Supply of all products sold through the store.
- Operational assistance through the running of the store.
- providing all types of equipment to manipulate the pharmacy related purchases, sales, bank deposits, customer records without any complications.
- Audit support.
Any individual interested in joining Hands with MedPlus Pharmacy Business can register themselves by dropping a mail at [email protected] or make a call to head office.
Andhra Pradesh and Telangana
Contact Number- +91 8688581100
Contact Number- +91 7305405500
Contact Number- +91 8431002002.
For Further Enquiries
To know more about the MedPlus franchise opportunity, contact at the following address:
Address for Contact
MedPlus Health Services Pvt. Ltd.
GSR Estates, C Block,
D.No. 11-6-56, Survey no. 257 & 258/1,
Opp: IDPL Railway siding Road, Balanagar,
Hyderabad, Telangana 500037, India
Ph.No: 040 6700 6700.