The pharmacy industry in the country is expected to touch anywhere around $100 by the year 2025. There are more than 8 lakh pharmacy shops around India, and they are growing at 15% per year. When it comes to the online pharmacy business, Netmeds is one of the leading names in the pharmacy business and is looking to spread its wings throughout the country. Yes, Netmeds is looking to expand by opening around 1000 pharmacy stores in the next five years.
In this article, we’ll look at the possibilities and requirements to start a Netmeds franchise in India. This detailed guide will provide all the details about Netmeds, including its history, its main USP, benefits, requirements to start a franchise, along with details about how to apply as well.
History of Netmeds
NetMeds was launched in 2010 by Pradeep Dadha with an aim to provide high-quality medicines delivered to your doorstep. At Netmeds, you can find a diverse range of prescription medicines available along with various other health care products, health monitoring devices, along with health care products too. With more than 100 years of experience in the industry, Netmeds is headquartered in Chennai.
What is the USP of NetMeds?
One of the main Unique Selling Proposition (USP) of Netmeds is that it has been around since 1914 with more than 100 years of experience in the pharmacy sector. Since its launch as an online medical portal, it has reached a wider audience through timely delivery and quality service. Netmeds serve as a one-stop-shop for all your medical needs.
Being one of the most trusted and reliable brands in the pharmacy sector, they understand the needs of the people and keep updating their services and products offered. Even though NetMeds is mostly an online medical portal, they understand the importance of medicine availability and accessibility, and hence they are looking to expand their offline services too.
Benefits of Running a Franchise of NetMeds
When you open a NetMeds franchise of your own, you are bound to receive a lot of benefits including:
Well Established Brand
NetMeds is a trusted and reliable brand, and opening a franchisee of a business with such a reputation is always going to be a plus.
Wide Range of Products
You can find a wide range of medical products available in NetMeds including:
- Over 25000+ Medicines
- Health & wellness products
- Fitness related products
- Ayush healthcare products
- Mom & Baby care products
- Eyewear
- Groceries
- Personal Care
- Surgical products
- Health Monitoring & Diagnostic devices
- Covid-19 essentials
Advertising and Marketing
One of the main hurdles in starting a business of your own is advertising and marketing. Unless you popularize your brand’s name amongst the people, it would really seem tough to see any profit in your business. But with NetMeds, you don’t need to worry about brand marketing as it is already a popular brand throughout the country.
Product and Stock Management
When you partner with NetMeds, you never need to worry about your stocks and supplies. Netmeds has around 8 fulfilment centres across the country and has more the 13 fully equipped warehouses. Hence, you never need to worry about stock supplies.
Requirements for Starting a NetMeds Franchise in India
Please read the requirements specified below to get a NetMeds Pharmacy Franchise in your city:
Area Requirement
To open a NetMeds franchise of your own, you need a minimum space requirement of around 300 sq. ft. Another essential requirement you need to fulfil is the location of your shop. NetMeds recommends that your shop needs to be located on a ground floor and in a crowded commercial area or even in a residential place with a minimum of 100 footfalls. If required, NetMeds will also provide location assistance to help you find a location with the maximum footfall.
Experience and Skills
When it comes to the experience and skills needed for opening a NetMeds franchise, if you have experience in running a pharmacy business, then you will have a higher chance of getting a franchise.
Training
NetMeds will provide new franchise owners with the required technical training to process bills and stock management etc. It will also provide frequent training programs and provide operational support as well.
Investment – How Much Does a Netmeds Franchise Cost in India?
To open a Netmeds Franchise in India, you need to provide a minimum investment of INR 10 lakhs. But the good news is that even if you don’t have the required investment, NetMeds will help you get a business loan to get started with your franchise.
How to Apply for a Netmeds Pharmacy Franchise?
If you are serious about starting your own business and becoming an entrepreneur, then this is the right time. NetMeds is looking for business partners throughout the country and is accepting proposals for opening a NetMeds franchise.
Online Application:
You can apply for a franchise from their official website. The online application can be found here.
Email Enquiry:
You can also contact them through email for any inquiries related to opening a franchise in your city. The email address is – franchise@netmeds.com.
Through Phone:
NetMeds also can be contacted through Phone Number – 7200712525
Once your application is approved, you will be contacted by the NetMeds team for a personal interview and for further proceedings.
Final Words
With the ongoing health concerns and pandemics surrounding our lives, it is a booming period for the pharmacy sector. NetMeds is a brand with more than 100 years of experience in the organized pharmacy sector. The franchise business model from NetMeds is specially designed to help you start your business quickly. In fact, they even help you to get a business loan from various banks throughout the country.
The pharmacy business is always seen as a risk-free business. If you are planning to start your own business, then it is the right time to get partnered with NetMeds and get guaranteed returns for your investments in a quick time.
We hope that the above franchise guide has provided every information needed about taking a franchise of Netmeds in India. If you still have any comments or suggestions, please post them in the feedback section below, and we will be happy to provide all the answers at the earliest.