The healthcare industry, sometimes referred to as the medical industry, is a significant sector that provides products and services to people who need rehabilitative, preventive, and curative care. Hospitalisation, medical services, clinical trials, health insurance, drugs, medical equipment, and clothes are all covered under it. The healthcare business has been rapidly increasing due to its coverage, services, and continual growth in investment by private and governmental participants in the market. It is India’s largest source of revenue and employment to date.
Pathology is an essential part of the healthcare sector since it supports doctors by analysing samples of human body tissues and fluids and determining the possibility of diseases or health problems. As a result, opening a Dr Lal Path Lab Franchise in your region will allow you to access not just the franchise sector, but also the fast growing health sector. Therefore, starting your medical franchise such as the Dr Lal Pathlabs franchise is a wise choice.
Did you know? India is the 2nd largest franchise market in the world with a rising share in the healthcare sector.
Why choose a medical franchise business?
Following the pandemic, the world acknowledge d the significance of health, and the healthcare sector has witnessed a significant increase in its share in the economy. Starting a new firm on your own in the healthcare sector is a tough challenge; hence, there has been a significant increase in the acquisition of franchises of many well-known companies dealing in the healthcare industry such as Apollo Pharmacy. When it comes to diagnostics, Dr Lal Path Labs is one of the market's most well-known diagnostic businesses.
The contemporary healthcare business comprises three key branches: services, goods, and financing, which are further subdivided into several areas and classifications based on population and geographic region. It is currently India's major source of revenue and jobs.
Dr Lal PathLabs franchise is the best-in-class medical device and door-to-door service that has earned a reputation that has not decreased even after the coming up of competitors. Late Dr Major S.K. Lal established the single proprietorship M/s Central Clinical Laboratory and M/s Blood Bank Transfusion Centre in 1949 to pr ovide pathology services and operate a blood bank. Currently, Dr Lal Pathlabs is a well-known name in India's diagnostic and allied healthcare tests and services industry.
About the company: Dr Lal PathLabs
Dr Lal PathLabs is India's oldest and most respectable private pathology laboratory network, with over 60 years of expertise in pathology service. The company's primary laboratories in Delhi use innovative technology and equipment to perform the most comprehensive test menus and panels in Molecular Diagnostics, Flow Cytometry, Biophysics, Immunophenotyping, Endocrinology, Cytogenetics, Genetics, Nutrition and Metabolism, Toxicology, Oncology, Immunohistochemistry, Biochemistry, Infectious diseases, Histopathology, Cytology and Haematology.
It offers high-quality services to the customers and has internal and external quality assurance programmes widely recognised. It is one of the greatest pathology labs in India, places a major emphasis on employing and controlling top-quality personnel to drive the company's many divisions both within and outside the labs. Regardless of the organisation's size, the corporation fosters some of India's best thinkers in various fields of competence.
Dr Lal PathLabs employs around 3000 individuals in India, with laboratory services comprising more than 55% of the total employees. We have 13 microbiologists, 147 pathology specialists, 5 biochemists, 8 radiologists, and 11 doctorate-level experts in their qualified team. In addition, there is an increasing pool of young leaders from prestigious institutions like AFMC, XLRI, IIMs, IITs and SP JAIN, and others. These individuals can efficiently manage business operations, marketing, equipment maintenance and other aspects necessary for a medical franchise.
Dr Lal Pathlabs Franchise Business Support
- A highly skilled staff would provide comprehensive management services to enable project planning and execution.
- Dr Lal Pathlabs franchise will give marketing and sales support to local medical fraternities and hospitals to promote the services.
- Dr Lal Pathlabs franchise will provide advice on the equipment to be placed in the laboratory and assist in obtaining it at a reasonable price.
- Dr Lal PathLabs would contribute to the design and operation of the lab. The project will be carried out under the surveillance of the Project Management Team to meet the high Dr Lal PathLabs criteria.
- The franchise would provide the one–of–a–kind "STARLIMS," cutting–edge Laboratory Information Management Software (LIMS). For the first time in India, this software offers the unique capacity to execute tests via bar–code reading of clinical specimens and a bi-directional interaction with diagnostic tools, enabling a complete "hands-off" testing or fully automated testing and reporting procedure.
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Why Dr Lal Pathlabs Franchise?
- Currently, the firm provides customers with over 3,368 diagnostic and associated healthcare testing and services. The majority of their laboratories are ISO 15189 approved by the NABL.
- Dr Lal Pathlabs is currently one of the major Diagnostic Chains in India, with over 190 Clinical Labs and over 1700 patient service centres.
- National Reference Laboratory has achieved ISO 27001:2013 certification, ISO 15189:2007 certification (for quality managing in medical laboratories), ISO 9001:2008 certification (for standard and developed diagnostic pathology quality testing, as well as clinical trials) and ISO 15189:2012 certification (in the area of medical testing).
- In 1989, Dr Lal Pathlabs was the first private lab to begin HIV/AIDS testing.
The Advantages of Owning a Dr Lal Pathlabs Franchise
Business owners purchase franchises to capitalize on the company's already established brand value. However, there are several other benefits that a unitholder should be aware of. The following are some of the benefits of owning a Dr Lal Path Labs franchise.
- A customized app allows clients to plan meetings and take the exam at their leisure for a low price.
- They produce correct findings on or before the deadline, which is fairly speedy compared to other pathology laboratories, which take one or two days to deliver a specific test report.
- It may sound surprising in this day and age, but technological implementation is a major reason for Dr Lal Path Labs' success.
- Employees' demands are met immediately and without hesitation owing to personalised packages that give them payment and test freedom.
- It features an online HR wellness portal that gives assistance and oversees the wellbeing of each organisation. As a result, this pathology lab brand has a solid reputation worldwide.
- Employees' health is never compromised since they have a specific health risk assessment exam that every employee may use.
- Another advantage is the end-to-end automation, which allows staff to focus more on their work and avoid distractions more frequently.
Is it worthwhile to purchase a Dr Lal Pathlabs franchise?
- Lal Path Labs is one of the world's longest recognised private chains of pathology laboratories, with over decades of experience that is absolutely exceptional and well worth your money and effort. In short, you have a great opportunity to gain a lot of exposure by joining the franchise of one of the oldest and most popular pathology laboratories.
- The organisation employs cutting-edge technical instruments and medical equipment to identify tests and diagnose disorders effectively. This implies nearly no likelihood of a mistake or misunderstanding when someone comes in for an illness diagnosis.
- This company's first and foremost purpose is to provide excellent service. Thus they provide 24-hour customer help to fix any issues that may arise. As a result, a consumer may contact and ask for a solution to their problem, and they can create a specific relationship with their customers in this way.
- Diagnostic packages are structurally developed for customer satisfaction. It is also developed for customers for certain diseases with early warning signs.
- Clients will also benefit from pre-employment health screenings, discounts, and drug testing with the firms they partner with.
Therefore, it is worthwhile to purchase the Dr Lal Path labs franchise as it offers comprehensive benefits to consumers and employees.
Dr Lal Pathlabs Franchise Investment
To be a part of such a prominent company, some standards must be met on your end to qualify. The following are the various prerequisites for opening a Dr Lal Path Labs Franchise.
- Lal PathLabs provides two types of franchise opportunities: Dr Lal PathLabs diagnosis centre and Dr Lal PathLabs collection centre.
- The diagnostic centre they provide is where the tests are performed, and the findings are recognised and publicised. A diagnostic centre requires around 3,500 square feet of total space. The construction area should be located in the town's centre on the ground floor.
- The collection centre that they require should be an outlet where personnel gather all necessary blood and other samples for further diagnosis and testing obtained directly from clients and send them to the diagnostic centre.
- The total area necessary to set up this Lal Pathlabs franchise or collecting centre is 150-300 square feet. It must be built on the ground floor, near a business area.
- Royalty/Commission: 25% To 30% Commission
- Franchise/Brand Fee: ₹50,000 Security Deposit
- Collection Centre Franchise: Around ₹3-5 Lakh depending on the location
- Diagnostic Centre Franchise: Around ₹25 Lakh excluding Lab and Testing Instrument
Also Read: A Complete Guide To Starting A Pharmacy Business
Dr Lal Pathlabs Franchise Business Profit
- Profit will be decided by your marketing skills, location, and determination to succeed.
- According to research, a successful Dr Lal Pathlabs collection business makes more than ₹1 Lac per month.
How to Get a Dr Lal Pathlabs Franchise?
The quickest approach to apply for a Dr Lal Path Labs Franchise is to go to the brand's main site. You may discover extra information about their Franchise by visiting their web page.
Submit the application form by providing your personal information. If you are qualified, representatives from the brand will contact you. After that, the process of acquiring the franchise will continue. You can find necessary information from the brand's official website: www.lalpathlabs.com.
You may also reach their company headquarters at the following location for further details.
Dr Lal PathLabs Ltd.
Tel: +91-124-3016-500
SAS Tower, Tower B, 12th Floor,
Sector-38, Medicity,
Gurgaon, Haryana-122001.
Skills Required for Dr Lal Pathlabs Franchise
- They need an experienced and qualified pathology lab technician and some lab assistants with a degree in laboratory science.
- The technician in the Lal Pathlabs franchise must multitask while managing, storing, and examining the obtained specimens.
- It would be ideal if the applicant had prior lab experience.
- The specialist must be able to multitask and has the skills necessary to organise, store, and evaluate the specimens obtained. It is the most important prerequisite for candidates as this is the most practical task that they will have to undertake after joining.
- A prospect should have excellent verbal and writing communication abilities, as well as a pleasant demeanour toward consumers and physicians.
- They must be well-versed in Excel sheets and the medical software they employ. This is because the number of tools and software in this industry is expanding yearly.
- The friendliness of a candidate can impress both consumers and physicians, which improves the overall reputation of a specific branch.
- To obtain the outcome, one must have prior knowledge of practically every sort of medical equipment currently utilised to diagnose, test, and perform treatments.
- The lab also hires receptionists (preferably women) to ensure that entering clients register themselves and get the details and help they seek.
- A cleaning staff that can operate around the clock and maintain the lab spotlessly clean and sanitary is also required.
- The lab also employs an accountant to handle finances and keep track of the items in the warehouse.
- They need a contender who has a good blend of smarts and hard effort and is willing to work at any time of day.
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Conclusion
Dr Lal PathLabs has been a centre for innovative and quality clinics in several Indian towns and cities. Investors have witnessed a modest but lucrative expansion in economic gains earned. Dr Lal PathLabs' profit in March 2018 was over ₹266.8 crores, and it was around ₹301.10 crores by the end of March 2019. The net profit in March 2020 was about ₹227.5 crores, while it was around ₹296.5 crores by the end of March 2021.They have exhibited exceptional development over the last 60 years with no downfalls and continual expanding earnings, establishing a strong brand. It portrays the finest potential to earn a monthly passive income and regular employment. Therefore, choosing to start a Lal Pathlabs franchise is an excellent choice.
