The diagnostics major Dr Lal PathLabs has secured its position among the top-100 players in the latest Franchise 100 list 2020. The company made it to the coveted list with its aggressive focus on franchise partners and expansion in newer markets.
The Franchise 100 list recognizes the Top-100 fastest growing franchise brands and is considered as the most esteemed honour for franchise businesses in India. The list puts forth the best franchise opportunities for 2020 after analyzing the leading franchisors on the basis of franchise ecosystem size and growth, financial strength and growth, and support offered to franchise partners.
From 10 clinical labs in 2005, Dr. Lal PathLabs has become the largest diagnostic chain in North India with over 200 clinical labs, 2,569 patient service centres and over 5,600 pickup points across the country.
The company has many firsts to its credit. “In 2015, we became the first pathology player in India to be listed on the stock market. In 2016, we crossed the 10 million patients’ mark. In 2018, we crossed Rs 1,000 crore in revenue and became the first diagnostic services firm to do so with a record 15 million patients,” highlights Om Manchanda, CEO, Dr. Lal PathLabs.
In fact, the company grew its franchise outlets by over 46% from 1,759 patient service centres in 2017 to over 2,569 in 2019. It also witnessed 32% revenue growth in the same period.
The company credits the growth to increasing focus on newer markets in East, West and South India. To strengthen its presence in East India, the company launched a regional reference lab in Kolkata in 2018. “While driving a big chain of partners, we ensure a balance between same store growth and expansion. During expansion, we always give first opportunity to our existing partners,” highlights Manchanda.
Franchise 100
The Franchising World, India’s no.1 franchising magazine, identifies the Top-100 franchise brands and celebrates their achievements every year in its anniversary issue. The issue highlights the established and emerging Indian and global brands that are increasing their positioning in India along with the new-age brands that are lucrative and profitable, expanding fast and can act as a reference guide for budding entrepreneurs and investors across India.
Franchise 100 is the one-stop destination to know everything about the franchise industry and the leading brands, which investors and prospective franchisees can consider to start their entrepreneurship journey.
