MedPlus franchise – Is it profitable? By Dhivya Krishna - December 10, 2019 Last Updated at: Aug 10, 2020 +2 9909 Hyderabad-based pharmacy chain MedPlus is planning to launch an IPO around October/November 2020. The company aims to raise over Rs 700 crore in the process. MedPlus has also entered into an exclusive partnership with Canada’s consumer health giant Jamieson Wellness. Do you know that 95% of the world population has health diseases? And more than 60% of people around the globe are on medication. In the current field, pharmacy business plays a vital role in the country. Are you planning to start a business? If so, then get a franchise license from MedPlus and start your business to help people with their medicines. MedPlus pharmacy franchise business gives you a big success boost to your business career. Pharmacy business is a recession-free business. Vakilsearch helps you in drafting your franchise agreement and provide you with the legal ownership to your business in a hassle-free approach. MedPlus has been one of the largest retail pharmacies in India for the last few years. It was launched in 2006 in Hyderabad. There are almost 14,000+ employees working in MedPlus all over India. MedPlus is located in almost more than 1500 locations in the country. There exists more than 150+ franchise stores. Moreover, e-pharmacy, door delivery facilities are available here. Why MedPlus Franchise? MedPlus is a highly recognized brand where there is no need for marketing. Largest retail pharmacy chain in India in the short while. Also, e-pharmacy is available here. Door-to-door delivery available. Provides quality and genuine medicines Higher customer service and great value for money. contact us to draft your franchise agreement Locations and space required: However, now, franchises are provided only in the states of Tamil Nadu, Telangana, Andhra Pradesh and Karnataka. Any town/city holding more than 50,000 population would be suitable to build a Medplus Pharmacy. You will have to take a minimum of 300 Sq.ft. or more in a significant demand zone. Investment Capacity: Investment lies between Rs.6 to 7 lakhs only. The franchisee has to own a collateral property worth at least Rs.6 lakhs to get a loan under a special scheme headed for the remaining investment. Investment details for a franchise store: You will need a total investment of Rs.17.50 to 20 lakhs depending on the location and size of the premises. This amount is inclusion of the franchisee fee, refundable security deposit to premises owner (rental advance), interiors, storage racks, furniture, computer systems and printer, branded stationeries and initial inventories. Provided, the franchisee should be able to invest Rs.6 to 7 lakhs of his/her own, as mentioned above. Benefits of owning a MedPlus franchise: Medplus serves more than 2,50,000 customers daily and employs more than 12,000 people. The company offers free home delivery in several locations near the store. MedPlus is an organized retail pharmacy chain having around 6-7% market share. The retail pharmacy industry may grow around 20% year on year. You can carry the pride of our success in your locality with an assured income. Best training, knowledge, and support for running the pharmacy will be provided. MedPlus basically has a strong guidance by expertise and sourcing, technology and execution abilities. You can avail a credit facility or loan from State Bank of India (SBI) under a particular scheme for about 60% of your investment requirement. You generate a volume of business that is 2 or 3 times higher than the competition and enjoy higher customer retention and repeat purchases due to our brand pull and the attractiveness of our loyalty and reward program – Flexi Rewards. Produces higher profits by having access to our high-quality private label brands with higher margins. What support does MedPlus provide to the franchisee? Assistance with selecting the right location for the store. Helps with store identification and lease finalization. Complete layout plan and branding materials. Furniture and systems. Training for the franchisee and the staff as well. Facilitate a bank loan, if required. Supply all products. Operational support through the running of the store. Audit support. If you can manage its stock well and maintain the necessary stock well in advance, the customer retention would be much higher. Always make the necessary products available in time. Retail pharmacy is similar to a trading business. Any business taken, customer satisfaction is always the foremost important aspect of running a business. Vakilsearch experts will guide you in establishing your franchise business. Our lawyers will get your franchise agreement drafted.