If there is one product that never goes out of demand and is completely recession-free or any other economic factors, that’s medicine. With handsome margins and profits, setting up a pharmacy store deserves serious thought.
A pharmacy store makes year-round sales, thus making it one of the most lucrative businesses to take a plunge in.
THE RETAIL MODEL
Pharmacy retailing is a capital-intensive business proposition and its setup involves strategic location of outlets. The business calls for an investment of at least Rs 8-9 lakhs, which includes licensing and documentation cost of approximately Rs 35,000-40,000; ERP software worth Rs 50,000; interiors for Rs 2.5-3 lakhs; and roughly Rs 3 lakhs for initial stocks. For a franchise store, brands like Easymedico demand Rs 2 lakhs as one-time nonrefundable franchise fee. The operational expenses may be in the range of Rs 50,000-80,000, which includes lease or rent of Rs 20,000-50,000 per month depending upon the location and city.
This story is from the March 2019 edition of The Franchising World.
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This story is from the March 2019 edition of The Franchising World.
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