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 4,230 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 Cost, Profit Margin, and How to Start [Full Guide].
Table of Contents
About MedPlus
| Company Name: Medplus |
| Founders: Madhukar Gangadi |
| Established year: 2006 |
| Headquarters: Anand Vihar Road, Block D, Anand Vihar, Delhi, India |
| Buisness Sector: Pharmacy retail sector |
| Offering products and Services: Prescription medicines, OTC products, health supplements, personal care items, optical services, and home delivery. |
| Number of Outlets: 4,230 outlets across India |
| Official Website: 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.
Key Details of the MedPlus Franchise
| Brand Name: MedPlus |
| Industry: Pharmaceutical retail |
| Pharmacy Outlets: 4,230+ outlets |
| Franchise Fee: 2 to 3 lakhs |
| Franchise Cost: 16 to 23 lakhs |
| Royalty Fee: 6% on monthly sales |
| Profit Margin: 8% to 20% |
| Franchise Agreement Term: 5 years |
| Required Space: 300 to 500 sq ft |
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.
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.
How Much Does the MedPlus Pharmacy Franchise Cost?
The total investment to open a MedPlus franchise is between 16 lakhs to 23 lakhs including Franchise Fees, security deposit, rent and infrastructure, equipment costs, initial inventory, working capital, and others. This investment varies based on the franchise outlet location and size. Here is the detailed cost breakdown of the Medplus franchise:
| Franchise Fee | approx 2 to 3 lakhs |
| Security Deposit | 1 lakh (refundable) |
| Rent and Infrastructure | 5 lakhs to 6 lakhs |
| Equipment and Technology | 3 to 5 Lakhs |
| Initial Inventory | 3 lakhs |
| Miscellaneous costs | 2 to 5 lakhs |
| Working Capital | 2 lakhs |
| Royalty Fees | 6% on sales |
| Franchise Agreement Term | 5 years |
| Total Investment | 16 lakhs to 23 lakhs |
Franchise Fee: Medplus charges a franchise fee of approximately 2 to 3 lakhs (one-time fee paid to MedPlus for licensing + brand name) to acquire rights to open a Medplus franchise.
Rent and Infrastructure: Renting the market area and setting up the Medplus outlet requires an investment between 5 lakhs to 6 lakhs including interior design, exterior design, Fixtures, and others
Initial Inventory: Purchase of the two to three months’ initial stocking of medicines, OTC products, and medical devices requires an investment of 3 lakhs.
Equipment and Technology: POS (Point of Sale) Systems, Computers 3 to 5 Lakhs, Security Cameras, Air Conditioning & Other Essential Equipments.
Working Capital: To cover the day-to-day expenses of the medical requires an investment of 2 lakhs for the employee’s salary and others.
Royalty Fee: Medplus charges a royalty fee of approximately 6% on monthly sales to provide advertising, marketing, and ongoing support.
Franchise Agreement Term: Medplus Franchise agreement term 5 years.
Profit Potential of Medplus Franchise
| Profit Margin | 8% to 20% of the monthly sales |
| ROI Timeline | 2 to 3 years |
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 2 to 3 years 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.
Medplus franchise contact details
| Official Website: Medplus |
| Contact Number: 6303926635 |
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Medplus Franchise Image Gallery
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. 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 ₹16 lakhs to ₹23 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 2 to 3 years, 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.
4. What is the Profit Margin of the Medplus Franchise?
A franchisee of the Medplus Franchise can expect a profit margin between 8% to 20% of monthly sales.
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