In the pharma sector, If you want to get best business opportunity, then Apollo pharmacy franchise is a good option for you. here in this article we are going to share pharmacy business opportunity.
If you wish to open an Apollo Pharmacy franchise in your area, go to their official website and fill out the application form as directed. If you are chosen for further consideration, you will be contacted.
Apollo pharmacy franchise business opportunity.
This is the spot for you if you are interested in medicine and want to learn about pharmacies so that you may invest in a pharmacy firm and become a franchise owner.
This post will provide you with information on the Apollo Pharmacy franchise and what makes it unique.
The information in this post will assist you in determining whether you should invest in Apollo Pharmacy and become the store’s owner.
Medicines are crucial in today’s world. Technology has gone a long way, and many of the issues of the past have evaporated as a result of its advancement.
The medical field is one area where technology has had a significant influence. Today, there is a treatment for every ailment.
Whether you have a headache or a fever, you can treat it with drugs and get better quickly.
But where may one obtain these medications? This is when pharmacies enter the picture. Pharmacies are shops where consumers may purchase medications.
A person presents a prescription for the drug they wish to purchase and obtains it from the retailer.
When it comes to pharmacies, there is just one name that stands out: Apollo Pharmacy.
The Apollo Pharmacy outlets sell a wide range of medications.
As a result, there’s a slim possibility that someone seeking a certain drug won’t be able to find it in an Apollo Pharmacy store.
Apollo Pharmacy has earned the confidence of the people of India and built a large and loyal customer base in the country by providing excellent service to its clients for many years.
A division of Apollo Hospitals Enterprise, is the country’s first pharmacy network.
It was first opened its doors in 1987. Dr. Prathap C. Reddy, the company’s creator, has been awarded India’s second-highest civilian honor, the Padma Vibhushan.
Apollo Pharmacy has established a foothold in several areas of India. The corporation has over 3500 locations in more than 18 states across the country.
More than 5000 medical goods are sold at Apollo Pharmacy locations, including infant care, vitamins, health foods, supplements, and more.
Around 400 goods are regarded as unique to the Apollo Pharmacy brand out of the 5,000 total.
According to Atul Ahuja, the business’s Vice President, the firm plans to grow by 30 to 35 percent each year and add roughly 250 locations a year.
As part of their business model, Apollo Pharmacy concentrates on specific factors. This contributes to the country’s growth and development.
One of the company’s primary concerns is product availability. Customers may purchase Apollo Pharmacy items both online and in person, and the locations are open 24 hours a day.
Another aspect of the business strategy that the corporation concentrates on is the annual revenue generated by the stores.
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Indian healthcare sector analysis:
By 2020, the Indian healthcare sector is anticipated to be worth US$ 193.83 billion. The primary factors to growth would be rising income levels, more health awareness, a higher priority of lifestyle illnesses, and enhanced access to insurance.
In India, health insurance is growing popularity. Health insurance gross direct premium income increased 17.16 percent year on year to Rs 51,637.84 crore (US$ 7.39 billion) in FY20.
In FY20, the health insurance business saw an increase in insurance coverage, according to the Economic Survey 2020-21.
In Bihar, Assam, and Sikkim, the number of families having health insurance climbed by 89 percent in FY20 compared to FY16.
India’s pharma sector analysis:
India is the world’s top supplier of generic pharmaceuticals.
The Indian pharmaceutical industry supplies more than half of the world’s demand for vaccines, 40% of generic demand in the United States, and 25% of all pharmaceuticals in the United Kingdom.
India is the world’s third-largest producer of pharmaceuticals by volume and the fourteenth-largest producer by value.
A network of 3,000 medicinal businesses and 10,500 manufacturing units make up the domestic pharmaceutical sector.
In the global medicines industry, India holds a significant place. In addition, the country boasts a big pool of scientists and engineers that have the capacity to propel the sector forward to new heights.
Indian pharmaceutical companies now supply over 80% of the antiretroviral medications needed to fight AIDS (Acquired Immune Deficiency Syndrome) throughout the world.
Domestic market of India.
The domestic market is predicted to rise thrice in the next decade, according to the Indian Economic Survey 2021.
In 2021, India’s domestic pharmaceutical industry is expected to be worth US$ 41 billion, rising to US$ 65 billion by 2024 and US$ 120-130 billion by 2030.
Biopharmaceuticals, bioservices, bio-agriculture, bioindustry, and bioinformatics are all part of India’s biotechnology industry.
In 2019, the Indian biotechnology sector was worth US$ 64 billion, and by 2025, it is predicted to be worth US$ 150 billion.
In FY21, India’s medicine and pharmaceutical exports were US$ 22.15 billion (until February 2021).
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What Are The Steps To Obtaining An Apollo Pharmacy Franchise?
Investing in a firm like Apollo Pharmacy and becoming the owner of one of its locations has a lot of advantages.
The first and most obvious benefit of investing in Apollo Pharmacy is that it has a reputable and well-known brand name in India.
This assists the franchisor in drawing a large number of clients to his or her business and increases the outlet’s sales.
Another advantage of being associated with Apollo Pharmacy is that the predicted earnings from operating an Apollo Pharmacy store are thought to be quite high.
Another advantage given by Apollo Pharmacy is that it allows the store’s personnel to receive great training. By actually being on the field, they may obtain greater expertise.
How to get Apollo pharmacy franchise?
To become the proprietor of an Apollo Pharmacy business, a person must first complete a series of tasks.
If a person wishes to establish an Apollo Pharmacy Store, he or she need take the following steps:
- The first step in becoming an Apollo Pharmacy business owner is to go to the company’s official website.
- When he or she arrives, he or she must fill out an application form for an Apollo Pharmacy franchise.
- In this form, the candidate must fill out some personal and professional facts.
- After the form is submitted, it is checked by Apollo Pharmacy’s support personnel.
- If the application is approved, Apollo Pharmacy will contact the candidate to discuss the next steps.
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Requirements for Apollo Pharmacy
There are specific qualifications that an individual must meet in order to become the owner of an Apollo Pharmacy business, just as there are for any other franchise.
The first criterion is the amount of floor space or outlet space necessary to open the business. The space should be large enough to accommodate all of the medications while also allowing personnel to move about freely while completing their tasks.
The area required by an individual in the case of Apollo Pharmacy is around 10 to 15 square meters.
Another requirement that the candidate must meet concerns the quantity of employees. The franchisee must recruit a minimum of two people to run the shop.
Experience and basic qualifications are required.
- A pharmacist must have either a Doctorate of Pharmacy (Pharm.D) or a post-graduate professional degree with a medical background.
- An expert pharmacist is needed to provide patients instructions and advise them when and how much medication they need to take (if asked).
- They should review and complete any insurance documents that come their way, as well as keep track of medical bills and other procedures.
Pharmacy license or drug license:
A drug license is necessary to start a pharmacy company. In India, the Central Drugs Standard Control Organization and the State Drugs Standard Control Organization are in charge of granting drug licenses.
The State Drugs Standard Control Organization is normally in charge of obtaining a drug license for starting a pharmacy company, and the list of State Drugs Standard Control Organizations may be seen below:
Typically, the Drug Control Organization grants two types of pharmaceutical company licences.
One is a Retail Drug License (RDL) that allows you to operate a general chemist store. The other is the Wholesale Drug License (WDL), which is awarded to individuals or organizations who sell medications and medicines wholesale.
Because it is a specialized job that only qualified people can do, most states only grant retail drug licenses to people who have a degree or diploma in pharmacy from a recognized school or university after paying the required cost.
In the event of obtaining a Wholesale Drug licence, however, the foregoing restrictions are eased (WDL).
Documents required for obtaining drug license:
- In the required format, fill out the application form.
- Covering Letter stating the purpose of the application and including the applicant’s name and designation
- Deposited fee challan for acquiring a drug licence
- Form of declaration in the required format
- For the premises, there is a key plan (blueprint).
- For the premises, a site plan (blueprint) is required.
- Possession of the premises is based on
- If the property is rented, proof of ownership is required.
- Proof of the company’s formation (Incorporation Certificate / Memorandum of Association / Articles of Association / Partnership Deed)
- Under the Drugs and Cosmetics Act of 1940, an affidavit of non-conviction of the proprietor/partners/directors is required.
- Declaration of a full-time certified pharmacist or competent person
Tax registration required for apollo pharmacy franchise business plan
GST registration is necessary in India anytime a company sells goods or services. Businesses in the pharmacy industry must register for GST and pay the tax.
Apollo Pharmacy Franchise cost
When deciding whether or not to invest in a firm, each shrewd investor considers the cost of capital.
Potential franchisees might choose between two franchise opportunities offered by Apollo Pharmacy. The single unit franchise and the master franchise are the two types of franchises.
The amount of money required by an investor to become the owner of a single Apollo Pharmacy business is estimated to be between 5 and 10 lakh rupees.
An investor must invest between 10 and 15 lakh rupees in a master Apollo Pharmacy store.
Although there is no exact number or figure on the internet to illustrate how successful the Apollo Pharmacy franchise is, it is reasonable to assume that an Apollo Pharmacy shop owner will earn handsomely from their investment.
Apollo Pharmacy Franchise Enquiry
There may be instances when a person has a question or a doubt, but they are unable to contact someone within the firm who can answer their question.
So, if someone has a question or an issue and wants to contact the company’s support personnel to get their questions answered, they can utilize the following information:
Contact details of Apollo pharmacy.
Address 65/68, Murugesanaickar Complex,
Loyal Tower 3rd Floor,
Chennai – 600006.
Apollo Pharmacy Franchise Contact Number (044) 28245800
Web Address http://www.apollopharmacy.in
We Indians take two things very seriously: one, our food, and the other, our medicines.
Apollo is the most dependable brand in the healthcare market when it comes to curative diagnosis and medicine.
For years, Apollo Hospitals have been a lifesaving shelter for countless, and its chain of pharmacies is similarly recognized, elevating the recognized name to new heights.
Gone are the days of trusting local pharmacists and depending on their pill packets; now there is a chain of branded pharmacies that not only provides drugs but also an everlasting trust that the general public appreciates and accepts.
A 24-hour pharmacy that provides pharmaceuticals, over-the-counter (OTC) pharmaceuticals, healthcare, and wellness goods at the most affordable prices, assuring quality and ease of access for customers.
Aside from prescribed medicines, the brand also sells vitamins and supplements, baby care products, health foods, and personal care products.
All of which are distributed by a team of knowledgeable employees who are supported by a computerized software database that keeps track of stock and inventory.
In terms of business metrics, the brand is likewise ascending the success ladder. It recently reported a turnover of Rs.4300 crores, and it is expected to continue to grow in the future.
In the United States, franchising accounts for more than 60% of retail sales. Total franchise sales have surpassed $1 trillion in the United States.
It’s not surprising, given that a McDonald’s, a Pizza Hut, a Kodak Express, or a Reebok store can be found practically anyplace in the world.
The list of well-known and profitable franchised brand names is enormous. As predicted, the pattern has spread to India as well.
Some of the most successful domestic businesses that have used franchising to achieve success include Archies, Lakme Lever, Ceat, Monte Carlo, Mahindra, and Titan. There are plenty more.
In reality, franchising in India has a success rate of 85 percent.
What are the benefits of franchising?
Working for a huge corporation offers several advantages that cannot be overstated. You have the finest of both worlds at your disposal.
On the one hand, as the owner of a small firm, you may put your entrepreneurial skills to use. A nationally recognized brand, such as Apollo, on the other hand, reduces your risks.
You will be able to provide world-class services without spending a fortune since you will be part of a big network of Apollo Clinics distributed over the Asian subcontinent.