COMMENT
During the difficult days of Covid, all business sectors, including pharmacy, have felt the need for an internet presence. When it was difficult for individuals to get medications, internet pharmacies were a lifesaver.
Today, since many businesses have migrated online, the pharmaceutical industry has also embraced online service delivery. During the difficult days of Covid, all business sectors, including pharmacy, have felt the need for an internet presence. When it was difficult for individuals to get medications, internet pharmacies were a lifesaver. However, even internet providers were unable to expeditiously supply the needed medication to the patient. Only a brand that prioritises speedy delivery can thrive and win popularity.
Medrix Pharma Healthcare Pvt Ltd is an online pharmacy that delivers over-the-counter medications to over 100 locations in India. It began offering ICU and critical care services at home, pathology services, home care services, and online medical consultations in 2020. It has over 78 franchisees that provide medications within 30 to 60 minutes.
Why Opt for Medrix Pharma?
Medrix Pharma is the leading digital healthcare platform in India. It is one of the most trusted and rapidly developing healthcare brands in India and globally. It has a robust staff of more than 300 employees delivering premium quality healthcare services throughout India from major urban areas.
Medrix Pharma company is a one-stop shop for healthcare need. It offers services such as over-the-counter (OTC) products, fast-moving consumer goods (FMCG), online consultations, medical tourism facilities, healthcare items, doctor booking, laboratory testing, home healthcare services, and ICU support.
Daily, one million orders are handled. More than 1,000 medical consultations and more than 500 lab tests occur daily. Medrix Pharma has 2 million Indian and foreign physicians on its web. The ICU and critical care unit is a unique service that is provided at the same cost as other hospitals. During Covid, this service has been a great benefit to the country, since hospitals were unable to meet the nation’s demands due to the enormous number of patients.
Opportunity for Franchising with Medrix Pharma
Medrix Pharma now has locations in Maharashtra, Uttar Pradesh, Haryana, Delhi, Noida, Luck now, and Indore. Its franchisees have the ability to sell both online and offline. It is now seeking to expand with over 100 franchisees throughout India.
Business Models
Medrix Pharma offers three franchise concepts for prospective partners:
In the first concept, the inventory would be offered based on the city. It may be worth Rs 15 lakh in pharmaceuticals and FMCG. Three million rupees would be the non-refundable franchise fee.
In the second concept, a former pharmacy is transformed into a Medrix Pharma shop with the same stock. There will be a need to increase the company’s inventory. The franchise fee will be Rs 3 lakh, which is non-refundable.
Each of these models has a shop setup cost of around Rs 2 lakhs, which includes the PC, ERP software, and storefront display. A B. pharma/D pharma salesman is placed to the brand payroll, with the franchisee covering half of the compensation. The business will hire two local marketing interns to increase sales in the respective region, with the assistance of a local digital marketing team to retarget customers in the corresponding region. The service would allow patients to contact with Indian and international physicians. Each franchised shop has a booking system for lab tests.
In the third model, the franchise owner manages the complete inventory, whereas Medrix Pharma company does not participate in inventory management. This model has no franchise fee; nevertheless, a fee of Rs 10,000 will be paid for brand packaging.
Every franchise shop has a health manager supplied by the corporation who, if necessary, assists the patient in contacting the doctor through the portal. Moreover, he provides laboratory recommendations if testing are required. The patient receives the findings rapidly, and further analysis may be conducted online.
All franchisees will get digital marketing assistance. There will only be one shop within a 10-kilometer radius.
One-year ROI is anticipated to be 100 percent.
The corporation anticipates a commitment from franchise partners. This is a chance to generate annual revenues in excess of Rs 4 crores via multiple metrics on pharmaceutical supply, laboratory testing, and doctor consultation.