Medplus Pharmacy

Medplus Pharmacy Franchise

About Us:

MedPlus – Your Trusted Healthcare Partner

MedPlus, a brand celebrated for its integrity and unwavering commitment to customer well-being, stands as India’s largest and most esteemed retail pharmacy chain. In record time, we have established a vast network of over 1,350 thriving pharmacies across 12 states and in more than 150 cities. At MedPlus, our reputation is built on the pillars of delivering authentic, high-quality medicines, offering unparalleled customer service, and ensuring exceptional value for money.

Running a retail pharmacy entails various operational activities, akin to managing a trading business:

1. Product Demand Estimation: Identifying and estimating product demand within the locality.

2. Stock Management: Maintaining optimal stock levels and product availability.

3. Inventory Preservation: Minimizing stock losses due to expiry, damage, theft, or pilferage.

4. Supplier Relationships: Identifying and collaborating with multiple suppliers for diverse products.

5. Negotiation Expertise: Negotiating prices, discounts, and payment terms with suppliers.

6. Timely Procurement: Ensuring timely procurement in accordance with demand.

7. Regulatory Compliance: Maintaining essential registrations, documentation, and compliance with state laws and drug regulatory authorities.

8. Record Keeping: Maintaining records of customer details, sales data, and stock levels.

9. Knowledge Integration: Continuously updating stock based on acquired knowledge.

10. Staff Management: Managing staff engaged in pharmacy operations.

11. Financial Oversight: Managing cash flow, comprehending costs, revenue, and profit and loss.

12. Customer Satisfaction: Delivering exceptional customer service.

13. Marketing Initiatives: Generating demand through marketing and promotional schemes.

Franchisee Details:

• Carry the prestige of our success into your locality and engage in a reputable profession with assured income.
• Benefit from top-notch training, knowledge, and support, leveraging our strong operations expertise, sourcing capabilities, technology, and execution proficiency.
• Operate a highly recognized brand pharmacy, offering a wide range of medical and general products, with a reasonable investment ranging from Rs 17 lakhs to Rs 20 lakhs.
• Secure credit facilities or loans from State Bank of India under a special scheme, covering approximately 60% of your investment requirements.
• Generate substantial business volume, surpassing the competition by two to three times, and enjoy higher customer retention and repeat purchases, courtesy of our brand’s appeal and the attractiveness of our loyalty and reward program – FlexiRewards.
• Attain higher profits through access to our premium private label brands, offering enhanced margins.

Advantages of a MedPlus Franchise Compared to an Independent Pharmacy Store:

As a MedPlus Franchisee, you enjoy unparalleled advantages in addressing the challenges often encountered in running a pharmacy:

• Access to a wide array of products from a highly fragmented market.
• Effective inventory planning.
• Assurance of quality and authenticity in medicines.
• Competitive edge.
• Enhanced profitability with improved gross margins.
• Protection against online pharmacy competition.
• IT systems and technology support.
• Additional revenue streams.
• Investment capital.

Support Provided by MedPlus to Franchisees:

• Assistance in selecting the ideal store location.
• Guidance in store identification and lease finalization.
• Comprehensive layout plans, branding materials, furniture, and necessary systems.
• Thorough training for franchisees and their staff.
• Facilitation of bank loans if required.
• Supply of all products sold through the store.
• Ongoing operational support.

Who Can Become a Franchisee?

Basic Profile:

• Individuals willing to work diligently and dedicatedly.
• A preference for personal management of pharmacy operations rather than reliance on employees.
• Proficiency in basic mathematics and understanding of trade terms, margins, profit and loss.

Education & Experience:

• While a pharmacist qualification is advantageous, it is not mandatory.
• At a minimum, candidates should have completed SSC or Intermediate level education.
• Prior experience in pharmacy or managing a small business is favorable.

Investment Capacity:

• Capability to invest approximately Rs 6 to 7 lakhs and possess collateral property worth at least Rs 6 lakhs to secure a loan under the special scheme.

Location & Premises Criteria:

• Suitable locations include towns with populations exceeding 50,000.
• Premises should encompass a minimum of 300 sq. ft. or more, situated in the primary market area with ample frontage and unrestricted premises access.

Investment Details for a Franchise Store:

The total investment required to establish a MedPlus Franchise falls in the range of Rs 17.50 to 20 lakhs, contingent on location and premises size and condition. This amount encompasses the franchise fee, refundable security deposit to the premises owner (rental advance), interior furnishings, storage racks, furniture, computer systems and printers, branded stationery, and initial inventory.

Of this total, the franchisee should be prepared to invest Rs 6-7 lakhs independently, with the remainder attainable as a loan through State Bank of India’s special scheme, available across India, subject to the possession of collateral worth approximately Rs 6 lakhs.