Growing Demand for Mental Health Services in India: A Franchise Opportunity

on Feb 11, 2023 | 27405 views

By Shifa Qaiyum 

Mental health services in India have seen a huge jump in the last few years. The government is investing a greater amount in the health sector so that basic facilities are provided to the people.

Many people are recently opening up about their mental health. There is only one psychiatrist available for about 20,000 to 30,000 people since psychiatry is a surging medical field.

This article will help in knowing why investing in a mental health franchise is a great opportunity for you.

Are Mental Health Businesses Profitable in India?

People are taking their medical health seriously nowadays, especially after Covid 19. They no longer feel that opening up about their mental health is a forbidden topic and talking to someone about it makes them feel better.

4 Important reasons why the mental health business is profitable in India:

#1. Social Consciousness- Talking about your mental health was considered a banned topic in former years, especially in villages. But today many people are seeking help rather than dealing alone with it. Celebrities talking about overcoming their battles have helped in creating more awareness among the people. The government has also taken an initiative to create awareness about the issue through ads and short films.

#2. Demand for Medical Professionals- A large number of people are not able to keep up with daily life and mental illness has increased. They are also ready to get themselves treated but the amount of professional help available is scarce. Thus investing in this field can lead to success.

#3. Increase in Patients- The number of people who are willing to get better with the help of treatment is increasing over time. They are ready to invest in themselves by taking medical help.

#4. Technology- Technology has also become a boon for the health industry. People can even take help from a professional just by sitting at home. You can access different mental health facilities online and the medical providers are also offering different types of options like talking and texting which helps people to break out of their shells.

We can further see Covid-19 has impacted the mental health demands of the people: 

  • Isolation- Covid-19 has left people in isolation and loneliness. Social distancing had led some people to live alone which has led to depression.

  • Job loss- Loss of a job has led to a loss of income. Due to this many people have suicidal thoughts.

  • Fear of death- Having covid in the family has also led to anxiety fearing the death of someone close

 After covid, many people are ready to start a new life by getting themselves aided with all the help available.

 

 What are the Different Medical Services Available?

It can be difficult getting help for mental, emotional or spiritual and even relationship issues but the right medical aid can help you with it.

1.   Psychiatric Hospitalisation- this is available when the patient is admitted to a Psychiatric hospital which consists of monitoring stabilization, medication and other emergency cases. A patient is added to a hospital if they have severe mental health sickness.

2.   Inpatient or Residential Mental Health Treatment- This treatment takes place in a residential facility on a 247 basis daily. It usually includes medication, meditation, group therapy, counselling and recreational therapy.

3.   Outpatient Mental Health Treatment- In this treatment, patients visit the treatment centre or therapist’s office on certain days of the week.

4.   Dual diagnosis Treatment- This treatment helps those who suffer from mental health as well as an addiction or substance use disorder.

5.   Psychotherapy- This is a talk therapy which has treated a large number of mental health conditions of both inpatients and outpatients. The person discusses and opens up about their issue with the therapist. This includes individual therapy, group therapy, cognitive behavioural therapy, Dialectical behaviour therapy, family therapy, interpersonal therapy and Eye movement desensitization and reprocessing therapy.

 

What is the different type of Medications used?

Different types of medications used for treating mental health are:

  • Antidepressants

  • Anti-anxiety medications

  • Mood stabilizers

  • Antipsychotics

 

What are the fastest growing de-addiction centres in India?

Addiction is a tragic cause that affects a person’s life negatively. One should be healthy physically, psychologically as well as spiritually. De-addiction refers to a rehabilitation program that helps a person to get rid of the harmful effects of addiction with the greatest care and dignity while keeping in mind human welfare.

These centres use the Naturopathy approach. It is a holistic way which emphasizes the principle that the body possesses the energy and capability to heal itself.

The Happy Tree is one of the fastest-growing de-addiction centres in India.

 

What are the fastest-growing Rehabilitation centres in India?

Rehabilitation Centers help a person in overcoming their illness or deformity and live everyday life. These centres have specialized nurses who are trained to diagnose and treat patients with disability.

Some of the best Rehabilitation centres in India are:

  • The brain seeder
  • Aram psychiatry hospital

 

Here are some of the Rehabilitation centres in India that are franchising.

The rehabilitation centre was founded in New Delhi by Dr Anuneet Sabharwal. Their main aim is to offer de-addiction and top mental healthcare.

Investment: Rs 20lakhs to 30lakhs

Franchise fee: Rs 2 lakhs to 5 lakhs

Royalty: 30%

This organization provides a modified way of using sounds and vibrations to improve the brain potential and reduce mental disorders' deep interest in the Holistic development of adults, youngsters and the differently abled.

Investment: Rs 2 lakhs to 5 lakhs

Franchise fee: Rs 2lakhs to 5lakhs

Royalty: 20%

 

What are the leading mental health startups in India?

India is one of the countries with the highest mental problems and most people are still afraid to discuss it openly. Startups are planning to adopt more efficient health programs for people.

Here are 5 leading mental health startups:

  • Wysa - It is an AI-based platform. 

  • MindClan - This organization offers active mental health helpline numbers to counsellors to support groups and people.

  • KahaMind - It provides mental help to both individuals and companies.

  • ePsyClinic- It provides remote therapy and counselling services to its users.

  • The Alternative Story- It provides affordable, accessible, and politically informed counselling services.

 

What are the best healthcare franchise opportunities?

  • Dr Batra’s - It is among the world’s largest homoeopathy clinic

  • Max Lab- This franchise is known for its excellence in the pathology department. It is a subdivision of Max hospital.

  • Trumac Healthcare - is a leading pharmaceutical company that focuses mainly on affordability and accessibility.

  • MedZone - It is an integral part of Ethix Health Care and a trusted chain of pharmacies.

 

Things to consider before franchising mental health services:

  • Expensive- Mental health treatments are expensive in India because of the lack of needed professional help. You can franchise a service and keep the cost of the treatments low.

  • Up-to-date treatments- You should be aware of the treatments that are being used by the organization. You should invest only if you are sure that the company treats using current beneficial methods.

  • Licensed professionals- Before taking up a franchise, you should make sure that the institutions have hired qualified professionals who know what they are doing and treat the patient with great human care.

  • Life coaching business- This business helps people to improve their mental health and live a healthier and improved life post their treatment.

 

How much does it cost to start a Mental Healthcare franchise in India?

Investing in mental healthcare franchises might be on the costly side but get great profit in return.

Here is an estimate of what to expect while franchising. 

Format

Investment including Brand fee

Brand fee

Space

 

Staff

Exp. Monthly Sales

Profit Margin

Royalty

Franchise owned

Franchise operated

INR 20 lakh to 1 crore

INR 3 lakh

2,000-20,000 sq. feet

10

INR 15 lakh

30%

10% royalty on gross sales

 

Frequently Asked Questions

Q1. Is it profitable to invest in the mental health industry?

People are opening up about their mental health and are ready to invest in their better and healthy future. Investing in this sector can help you gain great returns in the upcoming years. Mental health industry today amounts to $1 trillion a year in the global economy.

Q2. Is it necessary to be a certified medical professional for franchising in mental healthcare?

You can invest in the healthcare service without being a certified medical professional. 

Q3. What is the future of medical healthcare franchise in India?

Health-care-franchise is growing rapidly in India because it is not considered a taboo anymore and people are ready to seek the medical help they need. In the Economic Survey of 2022, India’s public expenditure on healthcare stood at 2.1% of GDP in 2021-22 against 1.8% in 2020-21 and 1.3% in 2019-20. 

Q4. What is the market size of the mental health industry?

Measured by revenue, the market size of the Indian healthcare industry is around $3b. 

Conclusion 

Indian society is changing and mental health awareness is also becoming prominent. It has evolved from being a taboo topic to an encouraged one. 

By encouraging people to pursue the required help needed, mental healthcare services are assisting in shaping a disturbed individual’s future.

No Comments
Please to FranchiseBazar.com to post a comment or like the post. However, you can still share this post on social networks.

Recent Blogs

How To Become a Top-Notch Franchise Broker in India
on May 18, 2024

Written By: Resham Daswani

As...

Steps to become a new successful franchisee by avoiding any mistakes
on May 17, 2024

Written By: Smita B

The...

Best Entrepreneurship Opportunities For The Youth In India
on May 16, 2024

Written By: Smita B

India...

Best bubble tea franchise in India (2024)
on May 15, 2024

Written By: Nikita Janiya

The...