With the awareness regarding health and fitness, there has been an increase in the demand for medicines and supplements in the market. This has helped to boost the healthcare sector and acknowledge the crucial role as well as the importance that it holds. Currently, there are hundreds of pharmacy retail chains and brands in the market that have contributed to and answered the increasing demand for medicines. However, out of all the different brands, NetMeds brand is a name that has been always surging over the top of all the other brands in the market, as it is also a century-old company.
NetMeds is a brand name that was established recently, however, the company has had its presence in India since 1914, which means that it is backed by more than 100 years of experience. Initially, the brand was named as Tamil Nadu Dadha Pharmaceuticals Ltd with its headquarters in Chennai. However, with the changing trend and market, the brand renamed itself and changed its operations with the name of ‘NetMeds’. With 100 + years of experience, the company has been growing rapidly in its industry, with the aim of opening 1000 + stores in the coming years.
It is one of the first Indian brands to have a dominate presence in the online market for the selling of drugs and medicines. NetMeds franchise even offers various health care prescriptions, health care devices, products, etc, that makes their customer’s life easier. In terms of reach and credibility, NetMeds has the highest domination in its market as compared to other brands. They have a strong hold in the online market, and hence the brand has been trying to develop the same position in terms of offline stores as well. With its current numbers, the brand is expected to reach that stage quite soon.
NetMeds Business Model
The NetMeds business model is based on online operating system, offers not only medicines but also prescriptions, believes in authentication hence verifies the authenticity of prescriptions, having a wide range of pharmacy network across India, offering delivery nationwide, availability of digital health records for users, they have also included additional services in their business model like different packages for health, wellness products, diagnostic tests, doctor consultations and more. All this is included in NetMeds pharmacy franchise also in order to make sure everyone can enjoy similar services from every NetMeds store.
Advantages of Acquiring
- It is the advantages and the USP’s of the brand that makes it stand out from all the other brands in its sector. For an individual to acquire a Franchise of a brand, it becomes crucial to select the right brand to go with, which can be only recognized by weighing its advantages over other brands in the market.
- The various advantages of acquiring the NetMeds Franchise are mentioned as follows.
- The foremost advantage of holding a unit of NetMeds Franchise is the years of experience that the brand has in the market. NetMeds franchise is recently established, however, the company has its presence since more than 100 years. A hundred years of experience speaks quite a lot about the brand and the same can be seen from the progress that has been made over the years in the healthcare sector. It has climbed the ladder very easily as compared to other brands.
- The reach and the credibility of the brand has contributed and benefited largely to its unitholders. With more than 100 years of presence, the brand has developed deep trust with its large number of customer base. The customers are always ensured about the quality and the price of their medicines, thanks to its century long credibility. This makes it easier for unitholders to get a huge boost for starting their own franchise.
- As a franchise unitholder of NetMeds, another benefit that one can avail is the retention percentage of its customers. NetMeds franchise has a decent online presence in the E-market sector of healthcare and hence through the various offers, discounts, accessibility, and convenience, it has never disappointed its customers. Since it caters to its customers through both offline and online basis, and as a franchise unitholder, an individual earns through both these channels.
- NetMeds offers a wide range of products to its customers on both online and offline basis. They have over 25,000 + medicines, eyecare products, fitness related products, health and wellness products, Mom and baby care products, personal care, and even groceries. All of this, just add numbers to its large portfolio, thereby giving unitholders a wide scope and opportunities to have multiple income.
NetMeds Franchise Cost
As many NetMeds interested investors like you want to know about the netmeds franchise requirements, here is an overview for you about the NetMeds franchise cost or Investment. Investment is always the major concern and significant factor for any individual for considering to acquire the Franchise of any brand. NetMeds offers only one type of Franchise model at the moment for individuals who are interested in the brand. The total investment for acquiring the unit of NetMeds franchise goes between 10 to 15 lakhs INR. This range would differ or vary as per the location chosen by the individual; however, the investment covers all types of costs and brand fee that is necessary.
Netmeds Franchise Profit
NetMeds franchise can help a franchise owner to generate a profit of Rs.1 lakh to 2 lakhs and can make Revenue on investment in just 18-24 months that is a very important benefit of starting a NetMeds. With the help of netmeds online shopping mode a franchise can even make more profit. While keeping all these numbers in view we can easily conclude that starting a netmeds franchise is a profitable choice.
Requirements for Starting
- To acquire the Franchise of NetMeds, you need to pass a few of the criterions to be eligible for being a unitholder of NetMeds franchise brand. The various requirements are mentioned as follows.
- The minimum area required to be eligible for acquiring NetMeds Franchise is between 300 sq. ft or more depending on the location chosen by the individual. Further, the unitholder is required to have the store on the ground floor with a minimum of 100 footfalls.
- You are required to take the appropriate training which is provided by the brand itself. To maintain the brand value, all the staff members should be familiar with the training, the skills, the art, etc, while commencing the business.
The interested candidate is not required to have experience in the field, but having so would scale up their chances of getting the franchise.
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