Are you looking forward to starting MedPlus franchise business in India? Find in this post, complete details including cost, investment, and contact details for the opening of the MedPlus pharmacy franchise business.
The first MedPlus pharmacy store opened in February 2006 in Hyderabad and over the last decade has grown into the second-largest pharmacy retail chain in the country with over 1400+ pharmacies throughout India.
Online pharmacy & general store, MedPlusMart.com, launched in 2015 has quickly grown to become the biggest e-Pharmacy in the country today. Through MedPlus Mart, customers can buy medicines, OTC products, FMCG, and nutrition products from the convenience of their home or through mobile, read important information about medicines, store their health records, view their prescription history, and redeem rewards.
Medplus today serves over 2,50,000 customers daily and employs over 10,000 people. The company offers free home delivery in several of the locations where our store is present.
Read: Top Healthcare Business Ideas
Cost & Investment to Open MedPlus Franchise Pharmacy Business
The total investment in starting a MedPlus franchise retail store will be around 17 – 20 lacs depending on the location and the size and condition of the premises.
This amount covers the franchise fee, refundable security deposit to premises owner (rental advance), interiors, storage racks, furniture, computer systems, printer, branded stationery, and initial inventory (stocks).
In addition to this, you must be prepared for an additional investment towards working capital to fund non-moving inventory and initial operating losses.
MedPlus will provide a large mix of medical and general products.
You will be able to start with a self-investment of 6-8 lakhs. The rest of the capital can be arranged in the form of a loan through the financial assistance scheme in place with SBI exclusively for MedPlus Franchisees.
Anybody can start a MedPlus franchise retail pharmacy store. However, a pharmacist qualification is always preferred.
At a minimum, the candidate should have completed SSC or Intermediate level education.
Prior experience in a pharmacy or managing a small business will be an added advantage in the selection process.
The company prefers individuals who will manage pharmacy operations rather than employees.
Any town with more than 50,000 population would be suitable for a Medplus Pharmacy Retail Store.
A minimum of 300 Sft or more in the main market area with good frontage and unrestricted access to the premises is preferred.
Also Check: Top Pharmacy Franchise Business Opportunities in India
MedPlus Franchise Benefits
- Medicines are an essential need just like food, clothes, and shelter (Roti, Kapda Aur Makaan)
- One can operate the pharmacy around the year, round the clock
- It’s a recession-free business. Families may cut down on luxuries but continue to purchase medicines to maintain health
- If the pharmacy is able to manage its stock well and make the necessary products available in time, then success is assured
MedPlus Franchise Support
- 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 franchise 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
Location & Premises Criteria for Starting MedPlus Franchise
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.
Why MedPlus Franchise?
- The MedPlus brand is highly recognized and well trusted for its integrity and the great benefits it offers to its customers.
- MedPlus has successfully built the largest retail pharmacy chain in India in the shortest time
- MedPlus operates a network of stores across 12 states and over 150 cities with over 1350 successful pharmacies
- Finally, Medplus is well known for providing quality and genuine medicines, superior customer service, and great value for money
MedPlus Franchise Retail Pharmacy Store Contact Details
If you are interested in knowing more about the MedPlus franchise opportunity, contact the following address:
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
Editorial Staff at NextWhatBusiness is a team of Business Consultants having years of experience in small and medium scale businesses.