Are you interested in establishing a MedPlus franchise in India? In this article, you’ll find everything you need to know about starting a MedPlus pharmacy franchise, including costs, investments, and contact information.
The first MedPlus pharmacy opened in Hyderabad in February 2006, and it has since expanded to become India’s second-largest pharmacy retail chain, with over 1400 locations across the world.
MedPlusMart.com, an online pharmacy and general store that opened in 2015, has rapidly expanded to become the country’s largest e-Pharmacy.
Customers can purchase medications, OTC drugs, FMCG, and diet products from the comfort of their own home.
And also through smartphone, as well as read vital information about medicines, archive their health records, access their drug history, and receive incentives from MedPlus Mart.
Medplus now has over 10,000 employees and services over 2,50,000 clients a day. In some of the markets where our store is located, the organization provides free home delivery.
The MedPlus Franchise Pharmacy Business Opportunity Investment
The estimated cost of opening a MedPlus franchise retail store would range between 15,00000 rs and 20,00000, based on the venue, capacity, and condition of the space.
The franchise fee, refundable security deposit to the premises owner (rental advance), interiors, storage racks, chairs, computing systems and printer, branded stationery, and initial inventory are all covered by this amount (stocks). These things are also a medplus franchise requirements.
In addition, you can budget for extra investment in working capital to cover non-moving inventory and early operational losses.
MedPlus will offer a wide range of medical and non-medical products.
You would be able to begin with, a 6-8 lakh self-investment. The remaining funds will be obtained from a loan through SBI’s financial aid program, which is available only to medPlus Franchisees.
A MedPlus franchise chain pharmacy store can be opened by anybody. A pharmacist’s degree, on the other hand, is often favoured.
The applicant should have completed SSC or Intermediate level schooling at the very least.
Prior experience working in a pharmacy or operating a small company will help you stand out throughout the interview.
Individuals who can oversee pharmacy processes rather than staff are preferred by the company.
A Medplus Pharmacy Retail Store will be appropriate in any town with a population of more than 50,000 people.
It is preferable to have a minimum of 300 square feet or more in the main business sector, with decent frontage and free access to the premises.
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Medplus franchise benefits:
Medicines, including food, clothing, and housing, are basic needs (Roti, Kapda Aur Makaan). A pharmacy should be open all year, 24 hours a day.
It is a company that is not affected by the recession.
Families may cut down on luxuries, but they must continue to buy medications to stay healthy.
Success has ensured whether the pharmacy is able to effectively handle the inventory and make required drugs available on schedule.
Medplus franchise support:
- Assist in deciding on the best location for the store.
- Assist in locating a store and signing a contract.
- Needed are a complete architecture design, branding products, as well as furniture and systems.
- Facilitate a bank loan if required by providing training to the franchise and its employees.
- Both goods sold in the shop must be supplied.
- Aid with the day-to-day operations of the store
- Help for audits.
- A Medplus Pharmacy will be appropriate in any town with a population of more than 50,000 people.
A minimum of 300 square feet or more in the main business sector, with decent visibility and open entry.
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Why do you need to invest in a MedPlus franchise?
For its honesty and the excellent benefits it provides to its clients, the MedPlus brand is well-known and well-trusted.
In the shortest amount of time, MedPlus has created India’s largest retail pharmacy chain.
With over 1350 profitable pharmacies, MedPlus runs a network of stores in 12 states and over 150 towns.
Finally, Medplus is recognized for offering high-quality, authentic medications, excellent customer care, and excellent value for money.
MedPlus Health Solutions Pvt Ltd, a pharmacy retailer, will use the franchise model to expand into Telangana and Andhra Pradesh.
“We’ll be reaching out to the twin States’ interiors to open 1,100 MedPlus franchise stores. More than 2,000 people will be employed in the two states as a result of this program, which will produce a lot of rural and tier 2&3 town entrepreneurs. Founder and CEO Madhukar Gangadi.
It also partnered with the State Bank of India, which will provide franchisees with flexible loans. A standard MedPlus franchise store would be 300-500 square feet in size and cost about Rs 15-20 lakh to open.
SBI will lend up to 70% of the total investment as a loan, with 50% of the investment as collateral. MedPlus has assembled a dedicated team to assist franchisees throughout the process. Each franchise is required to be a pharmacist or to employ a pharmacist.
Growth of E-pharma sectors in India:
Our big e-pharma companies, such as Netmeds, EasyMedico, and MedLife, are mainly young and have only been in operation for a few years. Startups such as 1mg, Myra, Practo, among others.
Traditional chemists such as Apollo, Emami Frank Ross, Global Healthline, and others have a strong retail presence, but they have yet to make a major impact in the online industry.
Furthermore, the Indian pharmaceutical industry is highly concentrated. There are approximately eight lakh pharmacies in the world, many of which are operated by local dealers who depend on the marketplace or inventory-led supply to operate.
Until now, as there is a growing need for e-pharmacies catering to last-mile supply and the emerging development of remote-access opportunities via a wireless medium, this has restricted the expansion of franchise-led pharmacies.
Not to mention, the imminent distribution of the much-anticipated COVID-19 vaccine has put the primer in motion in the hands of top business executives eager to reap the benefits.
E-pharmacies will account for just 3% of prescription revenue in India by June 2020.
The Delhi High Court barred the online selling of narcotics across the country in December 2018, effectively supporting the arguments of conventional pharmacies who argued that e-pharmacies lacked legitimacy due to lack of protection, dosage, and potentially unregulated prescription drug sales.
(Which is ironic given the rampant over-the-counter distribution of Schedule H, H1, and X medications reportedly without prescriptions by retailers.)
The next point to consider is technology. Patient data security is a cornerstone of secure medical practice, which is why allowing data exchange online without accreditation can be difficult.
Only VIPPS-accredited (Verified Internet Pharmacy Practice Sites) pharmacies are allowed to advertise on Microsoft, Yahoo, and Google.
But insufficient customer knowledge will quickly slip past those tests, resulting in buying the incorrect or unlawful drug in a moment.
To store digital medical records, we also lack adequate EHR/EMR (Electronic Health Record/Electronic Medical Record) facilities.
Key points of Medplus pharmacy:
Medplus offers health expertise as well as state-of-the-art medical laboratories that can help with disease prevention, diagnosis, and treatment.
The ideals of efficiency, simplicity and low prices govern Medplus’ services.
MedPlus guarantees that the drugs they offer are authentic, that the lab research they do is reliable, and that the doctors who provide clinical services are qualified.
Medplus locations are conveniently placed near your entrance, and they can provide services to your home if necessary.
Medicines are available at a 10% discount off retail rate, with free home distribution and free health care camps at MedPlus. With a coupon received with prescription sales, lab research is usually sold at a 30% discount from the retail cost price.
MedPlus Pharma was established to make purchasing drugs better for customers. They only import and distribute reputable medicines from the most reputable producers.
Each of Medplus’ 600 locations has air ventilation and refrigeration systems to ensure that the drugs remain factory-fresh and perform as intended.
They often hire professionally skilled pharmacists and offer excellent customer service.
MedPlus will gather lab samples and deliver results to all of their pharmacies, hospitals, or patients’ homes. When the sample is collected, it is then shipped to be processed so that the samples can be delivered sooner.
The Medplus central processing lab is ISO 9001 accredited, and the results are produced using sophisticated fully automated equipment.
MedPlus tests are on average 30% less costly than those performed by most national pathology laboratories and corporate hospitals.
The primary goal of MedPlus Clinic is to avoid illness and promote good health. Medplus has a wide variety of prescription care, both general and specialist.
- General physician services
- Health Screening and Preventive Service
- Comprehensive Diabetes Care
- Vaccinations & Travel Services
- Occupational and Pre-employment Health Screening
- Maternity and Women Health Services
- Child Health Services
- Specialty Services
MedPlus Franchise Retail Pharmacy Store Contact Details:
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