MedPlus: The pharmacy retail chain leading India’s rapidly growing pharmaceutical market. MedPlus was founded in 2006 as a Hyderabad-based pharmacy services player focusing on providing high-quality pharmaceutical products to customers at affordable prices, catering to the everyday healthcare needs of millions. Through the years, MedPlus has extended itself to offer up not only medicines but also wellness products and medical devices amongst other things like diagnostic services so that it might become a one-stop healthcare store section location. Having a network of over 2,000 stores spread throughout India makes MedPlus one of the quickest-growing and trustiest pharmacy names that could be vital for entrepreneurs to explore this Shelter in Place time.
Suppose you are planning to invest in a pharmacy franchise. In that case, MedPlus has proven its business model that will provide assured growth for your business and immense customer loyalty as well as return on investment (ROI). MedPlus Pharmacy Franchise (2024) Cost, Profit Margin, and How to Start [Full Guide]
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About MedPlus
MedPlus Health Services Pvt. Pharm Ltd. is based in Hyderabad and it falls under the category of a pharmacy retail chain operating throughout India. They offer authentic medicines, healthcare products, and services at reasonable rates to consumers. MedPlus has been in the medical supplies business for many years and is proud to say that since its inception they have experienced steady growth with increased annual revenues mainly due to its corporate philosophy of quality reliable service and customer satisfaction.
Apart from a chain of stores, MedPlus has also set up an online presence that offers medicine ordering via its website or mobile app.
MedPlus was founded because healthcare is a fundamental right and should be available to everyone, without financial problems which ultimately contributed towards its growth & expansion over the nation. However, the biggest benefit a franchisee would love to enjoy is that of being able to utilize the reputation established by brand name and this has been well proven in case Brand UID.
MedPlus Pharmacy Franchise- At a Glance
Brand Name: MedPlus
Industry: Pharmaceutical retail
Outlets: 2000+
Franchise Cost: 20 to 30 Lakhs
Profit Margin: 8% to 20%
Royalty Fees: 6% on sales
Space Requirement: 300–500 sq ft.
Next Official Website: https://www.medplusmart.com
MedPlus Pharmacy Items Catalog
MedPlus is a popular name in the healthcare and wellness space offering a comprehensive range of products across diseases from prescription to OTC drugs, health supplements, and herbal and Ayush remedies. MedPlus Product Suite Includes:
Rx Medications: Anti-Biotics Prescription Drugs, Pain Alleviation Medicine in addition to others.
Over-the-counter (OTC) Products: Includes Common products such as painkillers, cough syrups, or vitamins.
Medicine: Personal care and medicine, nutritional supplement, wellness.
Devices: Thermometers and stethoscopes, glucometers, etc.
Clinical Diagnostic Services: MedPlus provides varied health test services and diagnostic and pathology tests.
These will make sure that a MedPlus franchise is capable of bringing people from every age group and caste since one or the other person may need medicine all year round.
MedPlus Pharmacy Franchise Models
MedPlus provides two forms of franchises that can fit into any one of the broad categories.
Company-Owned & Franchise-Operated (COFO): Under this model, the pharmacy is owned by MedPlus but the franchisee runs it. MedPlus works on backend roles, managing inventories and coordinating with suppliers, while the franchise operates day-to-day business WHEN /CIFRIENDEDTENDTTTINDAMIRYT SACRIFICByan CUSTOMER.
Franchise-Owned & Franchise-Operated (FOFO): Under this model, the store is owned by a franchisee, and brand support on all aspects like operations and inventory is given to them. The store is managed by the franchisee independently of MedPlus’s operational standards.
It can draw from MedPlus’ existing distribution network to ensure an uninterrupted supply of authentic medicines and healthcare products at both the models for its franchisees.
What is the Cost of MedPlus Pharmacy Franchise?
The total initial investment to open a MedPlus franchise can range from varying based on location, store size, and specific requirements. But, in general here is how the costs break down.₹10 lakhs for store setup (including interiors, furniture/fixtures, and branding)Infrastructure Investment:-
Franchise Fee: ₹2-3 lakh (one-time fee paid to MedPlus for licensing + brand name)
Inventory Investment: Rs.5 to 7 lakhs – initial stocking of medicines, OTC products, and medical devices
Equipment and Technology: POS (Point of Sale) Systems, Computers ₹3 to 5 Lakhs, Security Cameras, Air Conditioning & Other Essential Equipments.
In addition to this, there are miscellaneous costs: Working capital (₹2-5 lakhs), staff salaries(6–8k/month for 3 months pre-launch and after that at least ₹1.0 lakh pm onward) electricity/rant/marketing (~3 Lakhs).
| Franchise Fee | ₹2-3 lakh |
| Store Setup | ₹10 lakhs |
| Equipment and Technology | ₹3 to 5 Lakhs |
| Miscellaneous costs | ₹2-5 lakhs |
| Royalty Fees | 6% on sales |
| Franchise Agreement Term | 5 years |
| MedPlus franchise Cost | ₹20 to ₹30 lakhs |
Depending on the location and size of the store, the total initial expenditure needed to open a MedPlus franchise ranges from ₹20 lakhs to ₹30 lakhs.
MedPlus Franchise Revenue Margin & Investment Return (ROI)
The expected margin on the sales of MedPlus franchises is typically around 8% to 20%. The margin will vary depending on store location, operational efficiency, and product mix. Franchisees achieve their Break-even point within 18-24 months in general, provided sales trend is consistent with or exceeding the target threshold level and Has other positive conditions like long-term repeat customers, strong process-based operation structure/method that can adapt to continuously rising cost, etc.
With an ever-increasing demand for healthcare products and the need for authentic medicines at reasonable prices, the MedPlus franchise is not only a lucrative option but also offers you the chance to work in line with medical industry needs.
Space Requirements
The space requirements are put in place to create a comfortable shopping experience that will allow for efficient and effective retailing at the MedPlus store. A store should ideally have 300–500 square feet, taking into account the following factors:
Organized store layout: Shelves should be neat and arranged so customers can easily walk through each aisle, less shoving stuff in the space to make it fit!
Storage Space: A safe area where a drug and healthcare product can be stored which are required to be kept in store so the inventory is not imbalanced or complies with regulations.
Pharmacy Counter: For noting prescriptions and availing consultancy of a pharmacist.
Security System: Need proper security systems like cameras and alarms to avoid any theft or damage to the store as well as stock in it
Advantages of Owning A MedPlus Pharmacy Franchise
MedPlus Franchise Advantage
Existing Brand: MedPlus is a well-known name in the pharmaceutical industry so franchisees can take advantage of that including customer trust.
All-Inclusive Support: To guarantee franchisees operate their stores efficiently, MedPlus offers training, operating guidelines, and continuous support.
MedPlus has a well-established company model that prioritizes client happiness, high-quality products, and efficient operations.
Marketing Support: MedPlus provides franchisees with marketing support in the form of digital marketing campaigns, promotional materials, and advertising campaigns.
Supply Chain Efficiency: Genuine medications and healthcare supplies are delivered on time thanks to MedPlus’ robust supplier network, which also minimizes stock outages and guarantees customer satisfaction.
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MedPlus Pharmacy Franchise Documents Needed
New franchisees applying will need:
Franchise Agreement: Listing the various terms and conditions between MedPlus & franchisee
Identity Proof: Aadhar card, PAN card, or any other ID given by the government.
Business registration: GST license, business license, and proof of address.
Business Registration: The present one is your financial documents which include a bank statement, property proof (if any), and a no-objection certificate NOC from the local certifying that you are not doing anything wrong in India.
Pharmacy License: As per the government norms a valid pharmacy license is compulsory to operate MedPlus Franchise.
How to Get a MedPlus Pharmacy Franchise?
The process to start a MedPlus franchise is a smooth one:
Get In Touch with MedPlus: Reach out to the team at Medplus on their official website or contact number and tell them that you are interested in starting a franchise.
Fill in your details under Submit Application: Request & provide information about you (personal, business background) and seeking the franchise model of interest.
Submit Documents: All your necessary documents which include ID proof, business registration, and financial statements.
Verification: Once you apply, MedPlus will review your application and verify if you are eligible for the bond.
Franchise Agreement:-On acceptance of your application by us, you have to sign the Franchise Agreements and also pay one-time franchise fees at this stage for getting operational rights to 0perate a MedPlus Store
Store Setup: Establish your store by MedPlus’s standards and rules by working with them.
Launch and Training: MedPlus will provide you with training on inventory management, customer service, and retail operations. After everything is set up, you can open your MedPlus store and start taking orders.
Also Read: Apollo Pharmacy Franchise Cost, Profit and How to Apply in 2024?
Conclusion
The MedPlus Pharmacy Franchise is a definitely quite good business opportunity as far as the healthcare market in India. MedPlus Franchise System with its strong brand, proven business model, and total support is set to mark in 2024. With a low investment and huge demand for healthcare products, franchises can even break even within a few months. MedPlus Franchise requires an investment and is a good option for those looking to make long-term growth with constant returns.
FAQ
1. What is the average cost of setting up a MedPlus Pharmacy franchise?
The average cost of setting up a MedPlus Pharmacy franchise ranges between ₹12 lakhs to ₹30 lakhs, depending on factors like store location, size, and initial inventory requirements.
2. How long does it take to achieve ROI with a MedPlus Pharmacy franchise?
Most franchisees are able to achieve a return on investment (ROI) within 18 to 24 months, depending on store performance, customer demand, and operational efficiency.
3. What support does MedPlus provide to franchisees?
MedPlus offers comprehensive support, including assistance with store setup, inventory management, employee training, marketing strategies, and continuous operational guidance.
