Medplus pharmacy Franchise Cost – How to get, Contact, Apply, Fee

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
• Audit support

Who can become a franchisee?

Education & Experience:

• A pharmacist qualification is helpful, however it is not mandatory
• At a minimum, candidate should have completed SSC or Intermediate level education
• Prior experience in a pharmacy or managing a small business will be favorable

Investment Capacity:

Ability to invest about Rs 6 to 7 lakhs and own a collateral property worth at least Rs 6 lakhs to receive a loan under the special scheme towards remaining investment

Location & Premises Criteria:

• Any town with more than 50,000 population would be suitable for a Medplus Pharmacy
• A minimum of 300 Sft or more in the main market area with good frontage and unrestricted access to the premises

What are the investment details for a franchise store?

Total investment required to set up a MedPlus Franchise is between Rs 17.50 to 20 lakhs depending on the location and the size and condition of the premises. This amount covers franchisee fee, refundable security deposit to premises owner (rental advance), interiors, storage racks, furniture, computer systems and printer, branded stationary and initial inventory (stocks).

Of this amount, the franchisee should be able to invest Rs 6-7 lakhs of his own and would be able to obtain the balance as a loan under a special scheme through State Bank of India across India, subject to having a collateral of around 6 lakhs.

MedPlus Franchise Enquiry: For those with general inquiries or seeking more information, reaching out via email is a seamless option. Registered individuals may directly call for MedPlus franchise contact number. MedPlus welcomes potential franchisees and individuals interested in learning more about the brand to connect through email, ensuring accessibility and responsiveness to queries. With its widespread presence and commitment to excellence, MedPlus continues to be a trusted name in the Indian pharmacy industry, offering not just medicines but also valuable franchise opportunities for aspiring entrepreneurs.

How to Get MedPlus Franchise: Individuals willing to work hard, diligent and dedicated may apply for the MedPlus diagnostics franchise. They should be willing to personally manage the pharmacy operations rather than through employees. Should have the ability to do basic mathematics and understand trade terms, margins, profit & loss.

MedPlus Pharmacy Franchise Apply Online: MedPlus is at the forefront of India's pharmacy landscape, boasting a vast network of over 3975+ pharmacies and general stores across the nation. Aspiring entrepreneurs keen on joining the success story of MedPlus can easily apply for a pharmacy franchise through the user-friendly Franchise India portal. This online platform streamlines the application process, making it convenient for individuals to explore the rewarding opportunity of owning and operating a MedPlus pharmacy.