Introduction

Founded in 2006 by Dr. Gangadi Madhukar Reddy, MedPlus Pharmacy has grown into a trusted retail pharmacy brand with a strong presence across India. The company leverages technology to streamline the supply chain, ensuring genuine medicines at competitive prices. Today, MedPlus operates over 4,230+ stores in 600+ cities across 10 states, with a workforce of 22,000+ employees (as of February 2024). The company engages in retail and wholesale sales, manufacturing, contract manufacturing, import, distribution, and diagnostics, offering a comprehensive healthcare solution.

Expansion and Growth Strategy

MedPlus aims to strengthen its market position by increasing store penetration and enhancing its omni-channel platform through hyperlocal delivery models. The company focuses on:

• Expanding store presence in existing and new locations.
• Developing an advanced omni-channel platform with online and offline accessibility, including WhatsApp medicine orders.
• Investing in technology to enhance revenue streams and expand healthcare services.
• Optimizing supply chain management for greater operational efficiency and profitability.

MedPlus Franchise Model

MedPlus is expanding its reach through a franchise model, initially focusing on Andhra Pradesh, Telangana, Tamil Nadu, and Karnataka. Towns with a population of over 50,000 are considered ideal for new outlets.

Area Specifications

A MedPlus outlet requires a space of 300-500 sq. ft. in high-footfall locations with excellent visibility.

Investment Requirements

The total investment required for a MedPlus franchise ranges between ₹17.5 lakhs to ₹20 lakhs, depending on location, store size, and infrastructure requirements. This includes:

• Franchise fee
• Refundable security deposit (rental advance)
• Interiors and branding setup
• Storage racks, furniture, and equipment
• Computer systems, printer, and branded stationery
• Initial inventory (medicines and healthcare products)

Franchise Agreement

MedPlus requires franchisees to sign a Memorandum of Understanding (MOU) outlining terms and conditions. The initial franchise agreement is valid for a certain period and can be renewed upon mutual agreement.

Training and Support for Franchisees

MedPlus provides end-to-end assistance in setting up and operating the franchise, ensuring a smooth business operation. Support includes:

• Assistance in selecting and finalizing the store location.
• Store layout planning, branding, furniture, and equipment setup.
• Comprehensive staff training on pharmacy operations and customer service.
• Facilitation of bank loans if required.
• Supply chain management, ensuring a steady inventory of medicines and products.
• Operational support and audit assistance for quality compliance.

Eligibility Criteria for MedPlus Franchise

Individuals interested in becoming a MedPlus franchisee should meet the following criteria:

• Hardworking, diligent, and dedicated to managing store operations.
• Ability to oversee pharmacy operations personally rather than relying solely on employees.
• Basic understanding of trade terms, profit margins, and business calculations.
• A pharmacist qualification is beneficial but not mandatory.
• Minimum educational qualification: SSC or Intermediate level.
• Prior experience in pharmacy or small business management is advantageous.

Why Choose a MedPlus Franchise?

• Proven Business Model: With a well-established brand presence and high customer trust, MedPlus ensures franchisees a stable business environment.
• Strong Supply Chain Support: The company provides continuous inventory supply, reducing stock management hassles.
• Tech-Driven Approach: MedPlus integrates online and offline sales, making it easier for franchisees to attract and retain customers.
• Training and Operational Support: Comprehensive training and audit support help franchisees run their stores efficiently.
• Profitable and Scalable: With a structured investment plan and potential for growth, MedPlus franchisees can expect high returns on investment (ROI).

Conclusion

MedPlus Pharmacy offers an excellent franchise opportunity for entrepreneurs looking to enter the pharmaceutical retail business. With its strong brand reputation, customer-centric approach, and technology-driven operations, MedPlus provides franchisees with all the necessary tools for success. If you’re looking for a profitable and reliable pharmacy franchise, MedPlus is a great option to consider.

MedKart Pharma Franchise Opportunity

Medkart Pharmacy offers a lifetime franchise opportunity designed for sustained growth in the pharmaceutical sector. With comprehensive training, operational support, and a high ROI, Medkart ensures franchisees achieve long-term success. With an anticipated ROI of 50% and a payback period of just 3 months, franchisees can expect a quick return on their investment.

Partner with Bharat Franchise Consulting to get started with Medkart Pharmacy and establish a profitable and sustainable business. They provide expert guidance on choosing the right franchise, Contact us today at 9894667327