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Medlife International Pvt. Ltd. is an online pharmacy platform that was established in 2014 in Bengaluru by Mr Tushar Kumar and Mr Prashant Singh. Today, the brand has emerged as a highly professional healthcare portal that delivers medications and provides timely healthcare services. These include laboratory as well as diagnostic services, consultations from doctors as well as free e-consultations with specialists. This has made them emerge as one of the most trusted names in the pharma business in India. One of the company’s noteworthy initiatives is its phone-in services via mobiles. This has proved to be a boon for the elderly and senior citizens who are not computer-savvy. Their various innovative concepts and genuine concern for treating their clients comfortably have made them a preferred choice amongst a large number of individuals. With increasing goodwill, the company has managed to extend its footprint across 21 cities in India. It is also associated with 50 licensed pharmacies across the country. Since its launch, the company has witnessed tremendous growth today, and it has about a 30% share of the e-pharma industry in India.
Did you know? Medlife International Pvt. Ltd. has more than one million registered users?
Why Should You Start a Medlife Franchise in India?
- Medlife is the most trusted name in the pharma industry in India.
- It has more than 100 franchisees across India.
- It offers a 24x7 e-consultation, healthcare services as well as laboratory services across the country.
- It has some of the most renowned laboratories, pharmacies and medical professionals (general and specialists) to offer medical treatment.
- Its uniqueness lies in its offer of free consultation e-services.
- It has gained immense popularity by way of referrals based on its range of quality services.
- Medlife services are available across India.
- Medlife makes approximately 40000 deliveries across India in a single day.
Also Read: A Complete Guide To Starting A Pharmacy Business
What Are the Various Requirements to Start a Medlife Franchise in India?
Space requirements:
- You need to have a minimum area of 120 square feet (floor space).
- You need to have a space of at least 30 square feet outside the commercial space/store in order to display the Medlife glow sign.
- Your store should also be able to accommodate the Medlife signage, which has a uniform size of 6 x 3 feet.
Staff requirements:
- You will need to employ at least 2 staff members who hold a diploma or a bachelor’s degree in pharmacy. These individuals will be able to understand the communication (whenever and if required) with the doctors of the patients better. They will be able to disburse the correct medication without any errors. They should have at least a year of work experience in a pharmacy.
- You can employ one more (even if on a temporary basis) person to take care of all your accounts. This person can also help maintain a proper balance of the inventory and ensure all finances are being managed well.
Finance requirements:
- The minimum investment required can vary between ₹1 lakh and ₹3 lakhs. This depends on the city in which the franchise is being established, as the real estate price varies across the states of India. It also depends on the size of the store.
- The franchise deposit of ₹15000, which is included in the investment amount, is refunded when you sell the franchise to the parent brand.
- Other expenses include investing in a computer, billing system, and interiors.
Also Read : How to easily set up a Medical Store? Guide to start Pharma Shop
How to Apply for a Medlife Franchise in India?
You can apply for a Medlife franchise online by following the steps below.
Online:
Visit the official website, i.e., www.medlife.com and click on the ‘franchise application program’ tab. You will be asked to fill out a franchise inquiry form and upload several documents.
Personal:
- Proof of ID includes your Aadhar, PAN, or voter card.
- Proof of residence – Electricity bill or ration card.
- Photos – Two passport-size photographs.
- Email - Your personal email id or if you have a business id.
- Contact number/s – Mobile number. If you use more than 1 mobile, you will have to provide both numbers.
- Banking – Details of the bank where you hold a savings/current account, the passbook and a bank statement for the last six months.
Business:
- GST number
- Shop and Establishment registration number
- Financial documents
- Address proof of your commercial store – whether owned or rented and documents detailing the same
Medlife is very particular about the density of its franchise outlets. One of the binding requirements is to share the pin code of your commercial outlet. If your pin code is free, they will approve of the same after validating all other documents as well. If the pin code is not free, Medlife will suggest one from the vicinity, and you will have to decide on commercial premises in that locality. Once the details of your application are validated, Medlife sends one of its personnel to conduct an inspection of your store. If it meets the requirements of Medlife, the person will take the discussion forward.
Offline:
You can connect with them on the following number:
- Franchise contact details: 08068400161
- Whatsapp number - 917259447952
- Email – You can write to them at - franchise@medlife.com
The process is the same and involves furnishing the company with all the details of your interest in setting up the franchise and furnishing scanned copies of all the relevant documents. If the details you provide are approved, your premises will be inspected by a Medlife franchise officer. This final approval seals the process, and they help you out with the fulfilment of all other formalities.
Benefits of Setting Up a Medlife Franchise
A Medlife franchise involves a very nominal investment
- The brand is renowned for its quality services and has a presence in all the major cities as well as Tier-2 and Tier-3 cities in India.
- Women entrepreneurs are furnished with special benefits.
- It has various revenue sources.
- Every franchise provides a 20% discount to its customers on all medications that are prescribed. This and the 24 x 7 availability of services have made the brand extremely popular.
- You don’t have to worry about the expenses involved in training your staff. Medlife provides all the necessary training to its franchise members.
- Franchises which excel in business are rewarded with excellent incentives and endowed with various awards to acknowledge their efforts.
- All marketing collaterals like a glow sign and signage are provided to every franchise.
- Operational manuals are provided to every franchisee to give them a clear understanding of how the franchise needs to function and various other related details.
- The brand is highly renowned, and you don’t have to worry about any additional marketing.
- Medlife provides consistent operational support to every franchise.
Also Read: Medplus Franchise - Guide to Start Medplus Pharmacy Franchise, Benefits & Eligibility
Payment Made to a Medlife Franchise
- Medlife provides a complete sales report to every franchise.
- You have to freedom to verify the same.
- After you confirm the report, the details are sent to the validation team.
- Payment due to a franchise is processed on the 28th of each month and is credited directly to your bank account (details of which you share in the application form).
- Every franchisee receives a 20% commission on the net amount of the total monthly billing.
- The total earnings of a franchise in a month can vary between ₹25,000 and ₹40,000.
The commissions Medlife offers its franchises include:
- A 7.5% commission on the total bill of medicines that are bought by customers. This commission is credited to your bank account by the 10th of each month.
- A 5% commission on all the ‘over-the-counter (OTC) drugs sold to customers. This commission is credited to your bank account by the 10th of each month.
- A 20% commission on all essential medications (manufactured by the company) sold to clients. This commission is credited to your bank account by the 10th of each month.
- A 5% commission on the total bill amount for any laboratory test or service selected by clients. This commission is credited to your bank account by the 10th of each month.
- Every franchise gets ₹25 on each e-consultation. This amount is credited to your bank account by the 10th of each month.
Conclusion:
The pharmaceutical industry is expanding in India and meets almost 50% of the global demand for various vaccines as well. Medical franchises have made life extremely comfortable. A Medlife franchise has a USP of its own. Its online healthcare and consultation services are available 24 x 7 throughout the year. It offers many specialist consultations for free. The quality of its services is considered extremely superior to its counterparts in the industry. This has made several individuals keen on setting up a Medlife franchise. The investments are comparatively low, and the brand is highly renowned. The range of commissions provided by Medlife to its franchisees is highly rewarding.
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