How to Obtain a Pharmeasy Franchise?

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As we all know, the pharmacy business is an evergreen business because, except for the pharmaceutical trade, diverse business sectors sustained significant losses during the COVID-19 pandemic.

Pharmeasy recently made Medlife non-inheritable. As a result, Pharmeasy is now Medlife.

When the e-pharmacy industry was consolidating, Pharmeasy acquired Medlife, one of its competitors. In 2020, Pharmeasy acquired Medlife, Reliance Digital acquired Netmeds and Tata acquired a majority stake in 1mg. In FY19, Medlife made ₹363 crores in sales but lost ₹404 crores. The negative revenue to loss ratio should impact Medlife's decision to merge with a company with higher revenue to ratio. In reality, the Pharmeasy franchise is one of those enterprises where money can be withdrawn, yet you can generate sensible earnings immediately. Having a franchise of such a successful enterprise can also be highly profitable. However, obtaining a franchise from a reputable company or organisation is also required.

Did you know?

Reasonable sales are produced from the start based on name value, and good margins are also available. If you're seeking a product that may provide you with a strong ratio and help you sell a lot of stuff, consider pharmacy brands like Pharmeasy.

Pharmeasy could be an API holdings subsidiary that works at a higher level. Since 2014, the company has been working in the Indian market and pursuing promising prospects.

How Much Is the Pharmeasy Franchise Profit Margin?

In the case of a good company, taking the franchise of the brand and this franchise being set up at a good location, so that good sale can also be generated, then franchising business is very easy.

It is possible to make a lot of money. When you think about taking a Pharmeasy Franchise, the question will arise in your mind about how much profit is possible after taking a franchise, then for information, the amount of profit depends completely on your investment. Moreover, what products do you sell? Different products may have different margins. The existing data shows that by taking franchises and other opportunities, many people earn up to two lakhs of dollars per year.

Also Read: Invest in these Best Low-Cost Franchise Businesses in India

The Pharmeasy Franchise Program Details

If you're interested, you can join the Pharmeasy franchise. Pharmeasy has helped about 800 franchise partners. In the last few days, a lot of attention has been paid to people's health, which has resulted in a quick expansion in the pharmacy trade, and if you look at the statistics, many people are working within the pharmacy sector right now. With over 22000 pin codes covered, Pharmeasy delivers prescription pharmaceuticals in over a thousand cities across Asia.

In addition, the Pharmeasy franchise provides diagnostic testing services in Mumbai, Thane, Navi Mumbai, Kalyan, Dombivali, Delhi, Noida, Gurgaon, Faridabad, Ghaziabad, Chennai, Pune, Ahmedabad, Gandhi Nagar, Surat, Vadodara, Lucknow, Kolkata, Hyderabad, Bengaluru, and Jaipur.

The Pharmeasy Franchise Eligibility Criteria

Anyone can join this franchise, regardless of their educational background.

• Check that Pharmeasy can generate sales in your area.
• It is not required to have a store, but if you do, the Pharmeasy signage board will attract an increasing number of customers.
• Grades 10 through 12 are necessary.
• It is important to have a laptop or desktop computer.
• Work from home, the shop or even while travelling.
• Someone who can run their own company.
• A basic understanding of computers is required.

The Pharmeasy Franchise Business Model

The majority of Pharmeasy's revenue comes from advertising and sponsored results from various pharmaceutical companies. Such advertisements can be found on the home pages of such organisations. Advertising may be a valuable source of revenue, and this e-pharmacy makes the most of it.

• Associate degree agent to assist with the e-commerce model.
• New customer acquisition and web growth are two of their specialities.
• Increased revenue potential with a little initial investment.
• Pharmeasy offers full technical assistance.

The Documents Required for Pharmeasy Franchise Registration

The following documents are required for the Pharmeasy franchise program.

1. Certificate of Incorporation

2. Photo identification (PAN).

3. GST registration number

4. Information on authorised signatories and board resolution

5. Cheque returned

6. A permit for a store or business.

• Pharmeasy Franchise Rules for a Partnership Deed

1. Copy of the partnership deed.

2. Information on authorised signatories.

3. Cancelled cheque 

4. PAN card

5. GST No.

• A Single Person Pharmeasy Franchise Documents

1. PAN card.

2. Cheque return.

3. Photo identification (Aadhar).

4. Include your photograph, email address and phone number.

The Benefits of the Pharmeasy Franchise

As a partner, your major purpose is to refer patients to Pharmeasy. You'll get high compensation for each referral:

• 1 % commission.
• Block commissions (for silver model): Franchise partners for women on Platform-only orders get a 1% extra commission on the sale of ₹1 lakh.
• You may obtain a one-of-a-kind coupon code from the Commission on Essential and Over-the-Counter medicine, which will provide you access to a dashboard where you'll be able to upload a report of users who used their discount codes on Pharmeasy.
• The Pharmeasy franchise has a dedicated key account manager who may answer your questions through a WhatsApp group.
• Axelia achiever and Axelia Partner certificates.

Pharmeasy reserves the right to adjust or modify the commission structure for any franchisee partner at any time, with or without warning.

Any franchisee who engages in suspicious behaviour engages in fraudulent activities, participates in the behaviour to achieve higher benefits or hurts the organisation's reputation risks losing the additional benefit or the entire commission.

Also Read: What are the Types of Franchises Available in India?

How to Apply for a Pharmeasy Franchise?

• Pharmeasy's official website may be found at https://pharmeasy.in/.
• Please use the link provided above.
• Fill in all required information in the Google form and submit it.
• Within two days of submitting, you will receive a call from your local area manager.
• You can obtain all information about the Pharmeasy franchise in India by speaking with the local manager.
• You can also email the firm regarding the distributorship details at saptarshi.sinha@pharmeasy.in, and you will receive a response from your Pharmeasy area manager within 24 hours.

What is the Process of Onboarding for a Pharmeasy Franchise?

• You must fill out the form provided by the company.
• Send the completed form, a scanned copy of your PAN card, a self-attested Aadhar card, a cancelled cheque and a copy of your Trade Licence and store documentation (all required).
• It is preferable to have a commercial shop and a trade licence. A concrete roof and a shutter gate are required for the shop.
• Once the document has been validated, and the franchise expenses have been paid, you will obtain your login credentials.
• Onboarding fees are refundable after a one-year lock-in period.

Conclusion 

Pharmeasy gets money through four sources: 

• commissions from pharmacies and healthcare product vendors
• delivery fees on medicinal and healthcare products
• advertising spots sold to pharmaceutical entities
• healthcare brands and lab test sales. 

Pharmeasy had revenue of ₹637 crores but a loss of ₹100.7 crores in FY20. The company earned ₹340 crores in revenue in FY19 but lost ₹50 crores.

Pharmeasy has raised a total of ₹12,416 crores since its beginning. Pharmeasy is planning to go public in 2022, and the business has already filed a Draught Red Herring Prospectus (DRHP) with Sebi for a ₹6,250 crores IPO. 

Based on PharmEasy's recent acquisitions and how it has expanded its service, it will likely evolve into a platform that serves every single touchpoint during a patient's lifespan. Thus, it would be profitable to become a part of the Pharmeasy franchise to become a member of such success. 
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