The Indian pharmaceutical industry has grown significantly due to the high demand for healthcare products and services. Starting a medicine franchise company is one of the most profitable business ideas.
The healthcare sector in India is booming due to factors like growing population, rising disposable income, and better access to healthcare services. This has led to a growing demand for pharmacies that offer quality medicines and healthcare products.
The platform offers a unique advantage, business model, and brand name and support from the franchiser. This advantage makes them an attractive choice for entrepreneurs looking to enter the pharmaceutical industry.
Best Medical Franchise Opportunities 2024
In this article, we will explore some top pharmacy franchise businesses in India, such as benefits, costs, etc.
Max Lab
Max Lab, is a part of Max Healthcare Institute Limited, which aims to provide top-quality pathology testing and great customer service. They also invite entrepreneurs to open Collection centres as franchise owners. Each franchise will have exclusive rights in a specific designated area and shall be the main place for customers to get pathology testing.
Founded in: 2016
Franchising since: 2016
Franchise units: 100 – 200
Initial investment: $43,000 – $73,000
Affordable Medicine Store
Affordable Medicine Store is a chain of stores specialising in generic medicines, where all essential medicines, health & beauty care products, and over-the-counter items are sold at a discount ranging from 50% to 80%. Top OTC brands are also available with a minimum 10% Discount. Affordable Medicine Store provides a retail business model that yields a high return on investment.
Founded in: 2015
Franchising since: 2015
Franchise units: 20 – 50
Initial investment: $3,000 – $7,000
Dr. Batra’s
In homoeopathy, Dr. Batra is one of the biggest clinic chains, it specialises in classical homoeopathy and offers medical education for its in-house doctors. Today, Dr. Batra’s Homoeopathy clinics are widely recognized and are poised to be the future of medicine.
Founded in: 2012
Franchising since: 2012
Franchise units: 500 – 1000
Initial investment: $30,000 – $45,000
SastaSundar
It is an online pharmacy and healthcare store. It offers Genuine Medicines at a Low price at your home for free. All major brands of medicines are available on their site.
Founded in: 2013
Franchising since: 2013
Franchise units: 100 – 20
Initial investment: $1,000 – $3,000
Trumac Healthcare
Trumac Healthcare is a top PCD Pharmaceutical Company in India, offering a wide range of products. Our mission is to strengthen two key aspects of the pharmaceutical industry: AFFORDABILITY AND ACCESSIBILITY.
Founded in: 2006
Franchising since: 2007
Franchise units: 100 – 200
Initial investment: $200 – $1,000
DREAMZ MEDICAL EDUTECH
Dreamz Medical Edutech (DME) is a Leader in Postgraduate medical entrance coaching. They also mentor students for All India PG Medical Entrance (AIPGMEE), AIIMS, PGI, JIPMER MD entrance, and State PG entrance exams. Their education portal provides Live Broadcasting two-way interactive coaching classes across India.
Founded in: 1999
Franchising since: 2010
Franchise units: 250
Initial investment: $1,000 – $3,000
Royalty Fees: 20%
SANJIVANI PHARMACIES
Sanjivani is a popular name in the country’s pharmacy sector, providing comprehensive, world-class solutions in pharmaceutical retail and distribution. Sanjivani specialises in providing a complete range of products in its store, particularly in the pharmaceutical industry.
Founded in: 2006
Franchising since: 2015
Franchise units: 20 – 50
Initial investment: $15,000 – $30,000
INDIAN INSTITUTE OF MEDICAL REPRESENTATIVE PVT LTD
IIMR was founded on 11th October 2000 with the vision of a “promise For a Better Tomorrow” on the eve of the new millennium. As the oldest Academic Institution in India, IIMR has been dedicated to serving the needs of the Pharmaceutical Marketing Industry with utmost allegiance.
Founded in: 2000
Franchising since: 2007
Franchise units: 25
Initial investment: $15,000 – $30,000
PharmEasy
PharmEasy started in 2015, and quickly achieved significant success. PharmEasy franchise is dedicated to providing affordable health medications and pharmaceutical drugs to those in need. Customers can conveniently order their required drugs online and PharmEasy ensures timely delivery.
Founded in: 2015
Franchising since: 2022
Franchise units: 20 – 50
Initial investment: 11-12 lakh
Royalty Fees: 2-3 lakh
Living Healthy
Living Healthy 24, started by Culmination Healthcare Private Limited in Kolkata, provides complete healthcare solutions & services. Their motto is “Healthcare for All”, they provide genuine medicines, doctor consultation, and health diagnostic services in one place. They are also developing a health portal and mobile app to help the people.
Founded in: 2016
Franchising since: 2019
Franchise units: 10
Initial investment: 20 lakhs
Royalty Fees: 4%
Conclusion – Medical Franchise
Starting a pharmacy franchise in India is one of the best healthcare franchise opportunities because of the increased demand for healthcare products. By teaming up with well-known pharmacy brands and starting a medicine franchise company, entrepreneurs can take advantage of this growing market and succeed in the medical store franchise. It is essential to understand pharmacy franchise costs to start the business effectively.
FAQs- Medical Franchise
What is a Pharmacy franchise?
A pharmacy franchise is a business model, where the franchisor grants a franchisee, where they can use their brand name, business model, and operational support to run this business.
How to Choose the Right Franchise?
To Choose the right franchise, you can consider various factors such as reputation and track record, support and training, market demand for healthcare products, financial requirements, etc.
What is the rate of Goods and Services Tax (GST) applied to pharmaceutical products?
The GST rate applicable for pharmaceutical products is 12%.
