A famous saying goes like this “Prevention is better than cure.” This statement strongly implies the need for identifying the causes beforehand than dealing with its consequences later. To identify or treat any illness, it is crucial to determine the exact disease.
This is where diagnostic services play a huge role, and the industry is expected to grow by 27.% in the next five years in India. With people becoming more health-conscious through social media, TV and other media, etc., diagnostic services and testing laboratories are highly required these days.
Thyrocare is one of the leading diagnostic services and automated laboratory with a strong presence in more than 2000 cities. In this article, we will provide you all the information you need to open a Thyrocare franchise in your city.
History of Thyrocare
Dr. A.Velumani started the first laboratory of Thyrocare Technologies in 1996 in Byculla, Mumbai. Dr.Velumani was working as a scientist in Bhabha Atomic Research Centre (BARC) in Mumbai before launching his own company Thyrocare. He witnessed the need for affordable diagnostic services in India and decided to start an automated Testing lab center.
Initially, he only provided testing for Thyroid testing as thyroid issues were more in that time. In a quick time, Thyrocare was shifted from Byculla to Navi Mumbai. With around 14 years of experience, Thyrocare is the industry leader in preventive health and diagnostic services. Thyrocare Technologies Limited also has many accreditations to its name, including ISO 9001:2008, CAP Certification, NABL, Grade A Crisil rating, etc.
What is the USP of Thyrocare Technologies?
One of the main USP of Thyrocare is that it runs a Centralized Processing Laboratory in Mumbai and various other laboratories in every other major city in India. Another reason that makes Thyrocare a market leader is that it takes only around 4-8 hours to process any test sample and provide the result to its customers.
People call Thyrocare as a trendsetter in preventive healthcare and diagnostics because of its excellent integration of air-cargo logistics, and hi-tech IT enabled systems that help them process or transport any sample from any part of the country to its headquarters located in Mumbai within the same night.
Key Benefits of Owning a Franchise of Thyrocare
Becoming a Thyrocare franchise partner provides a lot of benefits, as listed below:
Excellent Marketing Strategy
When you become a franchise owner of Thyrocare Technologies Limited, you never need to worry about spending any money on marketing or advertising. The brand has already invested a lot in advertising and is now one of the country’s leading healthcare services and automated laboratories. People will walk into your lab, only by reading the name Thyrocare in your name board.
Diverse Test Menu
Thyrocare offers a diverse range of preventive care diagnostic services including:
- Fasting Blood Sugar
- COVID Antibody Testing (IGG – CMIA)
- Urine Analysis
- Uric Acid Testing
- Total Cholesterol Testing
- Malarial Antigen
- Dengue Testing
- Typhoid Test
For the complete test menu, please take a look here.
Affordable Quality Service
Thyrocare provides its customers with high-quality services at affordable costs. One of the main reasons that people come to Thyrocare is its affordable services. Customer service and quality are paramount to the success of their brand.
Excellent ROI (Return on Investment)
Thyrocare provides its franchise owners with guaranteed returns on their investment. Even though the initial investment is less, the monthly returns from a Thyrocare lab are higher than any other country’s testing centers.
Requirements for Starting a Thyrocare Lab Franchise
If you are thinking of becoming a Thyrocare partner, then you need to fulfill the specific requirements mentioned below.
To start a Thyrocare lab franchise in your city, you need to have a minimum space of 250-300 sq. Ft. You can either own the space or rent. It would be highly beneficial if you have more space. You need to submit the property documents to them to get your application processed further.
You need to employ lab technicians qualified enough to handle all the tools in the testing center. They need to be certified with either a diploma or a degree in Lab Technology. Apart from this, you also need to have:
- A skilled pathologist
- A microbiologist
- And a biochemist to analyze the test samples and provide the results quickly to your customers.
Thyrocare provides its franchise staff with detailed user manuals and training guides to understand all the processes and formalities being followed in a thyrocare automated testing center. They also offer various seminars and training programs on a regular basis.
Training is conducted to update its franchise staff with the latest equipment and techniques in automated testing for quicker and accurate test samples processing. A team from Thyrocare will visit your premises to help you set up the computerized testing center, and the IT infrastructure required.
Investment – How Much Does a Thyrocare Franchise Cost in India?
The minimum cost required to open a Thyrocare franchise is 1 lakh rupees. Additionally, you need to pay 25,000 rupees as a franchise fee to the company to use their name, branding, merchandise, etc. Thyrocare estimates that franchise owners can start making profits within 5 to 6 months.
Terms & Conditions
Thyrocare extends a detailed set of terms and conditions for its franchise owners. Every franchise owner will have a set duration of 3 years as per the agreement. Once the agreed period expires, the franchise owner needs to renew the agreement if he wishes to continue the franchise.
How to Apply for a Thyrocare Franchise?
If you are willing to start a franchise of Thyrocare, you need to apply for a franchise from their official website. Please use the link provided here to provide your interest in opening a Thyrocare franchise.
Once your application is processed, a team will contact you to request a personal interview. Once everything is finalized and if you are selected, you will be asked to pay the franchise fee, and the team will help you set up the center in a quick time.
You can also contact them by:
Phone : 9870 666 333 or 022 – 3090 3000
Hope we have provided enough information to allow you to understand the processes involved in starting a Thyrocare partner. Still, have a question? feel free to let us know in the feedback section below.