The evergreen healthcare industry is a safe bet in the entrepreneurship world since the need for pharmaceutical facilities and medicines is ever-present and growing. Estimates figure that it should double its present values to more than ₹ 13,200 crores by 2023. India supplies over 60,000 generic brands and 60 or more therapeutic aids and holistic remedies to the global market with a 20% share of the global demand.
The report by the Comptroller and Auditor General (CAG) of India shows that the healthcare industry is poised to see a big leap in its growth. Medical supplies never see a demand dip, and especially with the pandemic, the need for medicines, masks, healthcare supplies and more is increasing significantly. And, of course, India has proved itself a worthy competitor with huge growth potential! With a lot of attention being focused on the availability of medical infrastructure, the care during illness, and the strengthening of available health facilities, there is no better time to foray into the medical field as an entrepreneur.
Did you know? All employees at Amazon (including CEO Jeff Bezos) spend two days every two years working at the company’s customer service desk.
Apollo Pharmacy in India
India is a prime exporter of medicines, vaccines and other pharma products and services to the world at large through global markets because of its capacity to produce quality medicines locally in India. Apollo Pharmacy is among India’s largest store chains of pharmacies and medical stores. Apollo pharmacy store list has a 3500 store footprint across 400 towns, cities, and metros all over India. Apollo Pharmaceuticals aims to reach an ₹ 10,000 Crore turnover in the coming 4-5 years. Would you also want to be a part of this revolutionary growth and obtain the Apollo pharmacy franchise information? Let's read further to know about the Apollo Pharmacy franchise cost in India.
Facts on Apollo Pharmacy:
The Apollo Groups Chairman Shri Pratap Reddy started Apollo Hospitals in 1983. According to the official website of Apollo Pharmacy, Dr Reddy, the Founder Chairman of the Apollo Group of Hospitals, was awarded India’s civilian award, the Padma Vibhusan, for his efforts in revolutionizing the healthcare industry in 1983. Apollo Hospitals was the forerunner in providing state-of-the-art medical and health facilities and has evolved into Asia’s largest hospital chain.
- The Apollo Pharmacy and medical stores sto ck an inventory that is market-demand based and consists of Over-the-counter (OTC) medications, important prescription medicines, fast-moving consumer goods (FMCG), baby care range of products, healthcare, skincare, healthy foods and supplements, with a range of 5000 products overall!
- With 18 states coverage, the Apollo chain of stores is India's largest medical facilities chain, with numerous hospitals, medical stores, and more.
- Apollo Pharmacy has a turnover exceeding ₹ 4,300 Crore overall and hopes to take this figure to ₹ 10,000 Crore within 5-years or a growth of about 35% per annum.
- The recession-proof health sector is a great opportunity to set up a franchised store under the Apollo brand.
- Since Apollo Pharmacies and stores have a wide range of genuine and top-quality products besides being reputed and well-known, starting a franchisee store of Apollo can be profitable.
Let’s explore the Apollo Pharmacy Franchise India opportunity and its relevant information.
Why choose to be a franchisee of Apollo Pharmacy?
With an unending demand, the health sector is a great opportunity for entrepreneurship. Starting your medical shop franchise with Apollo Pharmacy is not difficult.
Here are some reasons why the Apollo Pharmacy Franchise opportunity could be your entrepreneurship venture to gain profits and contribute to the noble aim of ‘Health for All’.
1. Apollo Pharmacy is an established and trusted brand:
Apollo Pharmacy is nearly 4 decades old. It has a notable market presence and provides affordable and state-of-the-art healthcare facilities in India. Apollo believes in trust and transparency. A franchise association with such a well-known brand is a prestigious chance to enter the pharmacy franchise market since it has an established customer base.
2. High-profit margins:
Selling medicines and pharmaceutical products to customers has excellent profit margins. Besides the backing of Apollo Pharmacy, the franchise operation provides the owners of an Apollo Franchise store with great wholesaler discounts and an assured market. Rarely do you get an opportunity to start a business that is both sustainable and profitable. Also, the risk is greatly reduced with Apollo’s reputation backing you.
3. Self and staff training:
Often, entrepreneurs face teething problems in training the staff, maintaining optimal inventories and ensuring efficient operations. Apollo Pharmacy franchise benefits go beyond monetary gains since you get a tried and tested Apollo methodology, staff training, the latest technology in account management, logbooks, inventory management systems, and more to provide you and your employees a customized learning experience.
4. Being up-to-date:
Apollo Pharmacy Franchisees get the best quality medicines and latest products. They are also technologically updated to ramp up for future demand and keep pace with the growing local demands. Being a part of this prestigious chain also provides you with an entry into the latest healthcare facilities to support the charitable objective of providing healthcare to one and all.
5. Options galore
Apollo Pharmacy offers you a range of options from 24/7 stores to medical shops, hospitals, medical centres and more. They cater to a huge demographic across age, gender, income groups, etc. Check out your best option and explore the franchise offers on the Apollo Pharmacy website.
Now let’s move on to the franchise investment and what it gets you.
What is the Apollo Pharmacy Franchise Cost in India:
The Apollo brand of products and medicines available in Apollo pharmacy are accessible offline as walk-ins and online. The app allows the upload of prescriptions to add to their cart and pay under different options, in hospitals, nutrition, nursing products, weight management, home testing kits, sexual health, diagnostic clinics, vitamin supplements, primary care and pharmacies.
Before you venture into the healthcare or pharmaceutical industries, you can read up and make a business plan, study the market, check Apollo pharmacy franchise enquiry by sending a mail at firstname.lastname@example.org. Also check your returns on investment, approach banks for the investment, etc.
You will need an attractive location with commercial space for your store, and this need not be owned and can be a rented space. You must also have sufficient funds and a budget to cover the expenses of the franchise agreement (3-4 lakh) for decorating and furnishing your store to the requirements of Apollo pharmacy, maintaining a sufficient inventory as per the local demands etc. The amount required varies according to the type of franchise agreement and whether you plan to open a single small store or go with the larger master store concept.
1. GST registration for billing is a must. The GST on drugs is 5%, 12% and 18%, depending on the type of item.
2. Drug License: The State Drugs Standard Control Organization, the State Pharmacy Board, and CDSCO-Central Drugs Standard Control Organization do the drug licensing in India. Apply with Form-19 for a drug license to retail or wholesale supply drugs, medicines, healthcare, and pharmaceutical products.
For the drug license, you must have these documents:
- Identity proof includes passport, PAN card, Voter ID, Address Proof, Aadhar card, etc.
- Application form for licensing in Form-19 and a valid declaration certificate.
- The Registered Apollo Pharmacy Owner Affidavit.
- Ownership or rental agreement proof and possession of the premises with its organizational and area blueprints.
Requirements to start Apollo Medical Store Franchise:
The Apollo Pharmacy franchise has both self-owned stores and franchise stores. Its brand reputation comes from the quality of medicines provided by them. The parameters and guidelines in the franchise agreement require -
- A budget of ₹ 5 to 10 lakh for a single store and ₹ 10-15 lakh for a master store.
- A shop of about 10-15 sqm which accommodates a billing desk, a refrigerator, storage shelves for medicines, a computer, a bill printer, etc.
- To open a pharmacy store, you need to be a registered pharmacist who has experience in dealing with pharmaceutical items. For example, you would need to know the generic names of the drugs, identify the medicines from the doctor’s prescription, suggest alternate drugs, OTC medicines, etc.
- You will also need two to three employees to manage the billing desk, attend to customers, etc. They will be trained on the 1948 Drugs and Cosmetic Act requirements, customer query handling, discarding expired drugs, and more by Apollo Pharmacy.
Below is a table that provides information regarding the investment in a single unit and master franchise pharmacy/medical store.
Minimum area for an Apollo store
4000 square feet
Investment in inventory and stocks
₹ 50,000/- to 100,000/- plus the cost of the refrigerator and monthly 20 to 40K for expenses.
Master Franchise store investment
₹ 10-15 lakh
Single unit franchise store investment
₹ 5-10 lakh
License and franchise documentation
You will need the following skills and abilities to venture into the pharmaceutical and medical Apollo medicine shop business through the Apollo Franchise Agreement.
- A commitment to the healthcare industry.
- You must be a Pharmacy graduate with a minimum of a year’s experience in handling medicines known as the Apollo Pharmacy Experience Certificate. You should have the ability to update your knowledge in technology, pharmaceutical developments, newer alternates in the medical field, etc.
- You need to be a qualified registered pharmacist to get a drug license to open a medical store, as it is a punishable crime without appropriate licensing.
- You must have the ability to handle finances, inventories, employees, customers and store operations.
- You will need to understand the doctor’s prescriptions, customer’s medical requirements, suggest medicines using generic names, etc.
- Have sufficient funds for investment on a store, the franchise agreement, maintaining a good inventory, paying employee salaries, and running the store efficiently.
- The help of a senior pharmacist in case of suggesting medicines is a must.
What support can I expect from Apollo?
Under the franchise agreement, Apollo Pharmacy assistance is provided in the following areas.
- Staff skill development and training.
- Medicine supplies and healthcare items at wholesale prices.
- Audits to maintain the store quality and operations.
- Pharmaceutical best practices and the latest technology.
- Selection of store location in a commercial area with sufficient marketing scope.
- Interior design and architectural layouts maintain the Apollo brand store looks and image.
- Aid in the management of your store project.
- Branding drives, store promotions, marketing efforts to convert footfalls, etc.
Applying for the Apollo Pharmacy Franchise:
You can apply for the Apollo Pharmacy Franchise by visiting the Apollo Pharmacy Franchise Website link. https://www.apolloclinic.com/for-franchisee/franchisees-enquiry
Or you can also go to the Apollo Pharmacy official website. From the contact page, you must fill in and submit a form. Alternatively, send an email to email@example.com or see how to apply for Apollo Pharmacy Franchise online. The Apollo Executive Team evaluates your request and reverts as quickly as possible.
The healthcare sector of India is significantly developing with the government aiming to increase healthcare spendings to 3% by 2022. The customers of well-established pharmacies and medical facilities get complete and holistic health services immaterial of gender, age, illness, etc. And, it is not just customers but their franchisees as well who matter to them. By establishing an Apollo Franchised medical store, you become a part of this reputed pharmacy chain and can expect to make significantly more than the Apollo franchise cost. Besides, being a part of the Apollo chain of pharmacies means you can access a host of beneficial support measures.
Did you know that Khatabook brings you an application that makes your accounting, employee attendance, salaries, GST payments and more available easily for entrepreneurs like you to thrive? Try it out today!