Best Pharmacy Franchise Businesses in India for 2022

on Nov 22, 2021 | 985 views

Written by Aditi                                                                                           Nov 22, 2021

India has long been known as a country that specializes in low-cost drug manufacturing. And today, the country's pharmacy industry is thriving.

In this case, purchasing a pharmacy franchise in India has numerous advantages. A medical store or an online pharmacy franchise can be opened by an entrepreneur. Starting your own medical store is a massive undertaking because it requires licenses and permits, a good product line, relevant knowledge, and relevant experience. The latter is a very popular concept these days. It enables a franchisee to work on a flexible schedule while saving money on renting or purchasing store space.

If you are interested in franchising in this industry, you have come to the right place. Before you start your own franchise, here is everything you need to know about the Best Pharmacy Franchise Businesses in India for 2021.

 

Why is the Pharmacy Franchise in India an Emerging Franchise Business in 2021?

The pharmaceutical industry in India is one of the most developed and forward-thinking. The government of the country, which provides a plethora of pharmacy franchise opportunities for the people of the country, deserves the majority of the credit for this rapid growth. 

  1. In 2018, the pharmaceutical industry was valued at $36.7 billion. The market is expected to grow at a CAGR of 22.4 percent between 2015 and 20 to reach $ 55 billion.

  2. India is emerging as the new market leader in Medical Devices and Diagnostics.

  3. Outside of the United States, India has the most US-FDA-compliant plants.

  4. The Indian Pharmaceutical Industry contributes 5% of the Indian GDP by generating profitable earnings and stimulating the economy.

  5. When it comes to the Indian Pharmaceutical Industry's global share of the global pharmaceutical market, it is close to 1 to 2 percent.

  6. The Indian pharmaceutical industry is expanding at a compounded annual growth rate of more than 10%.

Because of the government's commendable support, the expansion of Indian pharmaceuticals has been exceptional over the last few decades. The GST effect, which has recently transformed the outline of the country's indirect tax system, has the most impact on the industry. Medicines and drug companies have been embedded in parts ranging from 0% to 28%, with the majority falling between 5% and 12%.

 

What Will Be the Pharma Franchise Cost in India?

The Pharma franchise companies are adopting new business models and bringing new innovative ideas to serve the customers in a better way. The government is also providing suitable efforts and support to enhance the scenario of the sector. So Pharmacy Franchise Cost In India would be in an ideal range.

Prudent financial management is critical to the success of any business, and a pharmacy franchise company is no exception. A minimum investment of Rs. 3-4 lakhs is required for semi-urban and small-town areas and Rs. 7-8 lakhs is required for opening a wholesale drug store. The investment would be greater in metropolitan areas and larger towns. The profit margin for opening a medical shop ranges from 20 percent for brand drugs to 1000 percent or more on MRP for generic drugs.

It also depends on the types of drugs you sell and the amount you sell. Food supplements with the highest profit margins include multivitamins, proteins, contraceptives, salines, and so on. A business analysis of the area is necessary to gain a better understanding of the profit margins in the area.

 

How to Start a Pharmacy Franchise in India in 2021?

The healthcare industry has risen to great heights in recent years and will continue to do so in the future. So, if you take the proper steps and follow these important points before starting your business, your drug store will be successful and can last for generations.

Starting a pharmacy franchise can be a lucrative business. Another advantage of the medical industry is that it is less vulnerable to economic downturns. It is important to remember, however, that if proper research is not conducted prior to launching your business, it may not perform as well as expected.

As a result, considering the pharmacy franchise profit margins and other advantages of opening such a business, investing in the medical business could be one of the best things to start.

 

How Franchisebazar Helps You to Start Your Own Pharmacy Franchise?

FranchiseBazar helps you find many Pharmacy Franchise Opportunities in India.

You can visit the website, connect with a franchise consultant and search for the right franchise brand for you. Below mentioned are some of the Best Pharmacy Franchise Businesses in India for 2021.

1. Dava Discount.

Dava Discount franchisee assures the best of services for effective and unique marketing skills in the timely supply of branded medicines at competitive pricing. It is the only market leader offering a discount of up to 20-25% on brand-name medicines. Dava Discount assures you that their goodwill is reliable and ensures seamless processing of all tasks.

2.  Medzone.

MedZone is one of India’s leading pharmacy chains throughout India serving countless customers daily. Its stores are conveniently located just from customers' homes and offer a wide selection of prescription medicines and general FMCG goods. It strives to provide top-quality medicines at affordable prices and also prevents the abuse of medicines. Medzone also offers Ethix healthcare products at reasonable prices. Dr. Ethix is a branded company of Maxwell Pharma.

3. Sanjivani Chemist

Sanjivani is a company that was started with the intention of becoming successful in offering people the best quality medical products at fair and reasonable rates. Their aim is to become one of the largest retailers in India and internationally as well. They offer products that include OTC products, surgical goods, and all kinds of medicines.

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