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  Frequently asked questions : (FAQ's)  
     
 
Q.1 There are thousands of chemists in my city, how will The Medicine Shoppe® be any different?
Q.2 Why should I get into retail pharmacy?
Q.3 What is the investment requited to be a part of the system?
Q.4 How will my investment be spent?
Q.5 Can I convert my existing Medical shop to a Medicine Shoppe® outlet?
Q.6 I hate long drawn out processes; will becoming a Medicine Shoppe franchise be one of them?
Q.7 After I sign the dotted line, will I be on my own?
Q.8 Can any one become a Medicine Shoppe franchisee?
Q.9 Can I open multiple pharmacies?
Q.10 Yes, I am interested to know more about The Medicine Shoppe® and want to become a franchisee. How should I go about it?
Q.11 Will there be a formal agreement in place?
Q.12 What will be the franchise agreement term?
Q.13 Is it renewable?
 
 
 
A.1
At Medicine Shoppe we actually create the community by focusing on providing total health care services to our customers. This includes patient counseling, health screenings and maintenance of medication history of customers, specialized campaigns with pharmaceuticals companies. We also provide ongoing special schemes and loyalty programs to keep our basket of benefits larger and better.

All Medicine Shoppe pharmacists have a qualified full-time pharmacist who is specially trained to impart information on every aspect of your prescription from advising customers on adverse reactions and interactions to other related medication/prescription information.

All customers at Medicine Shoppe can expect a spacious, uncluttered and hygienic environment to shop in and are presented with a unique membership card with which they can avail a wide variety of offers and participate in programs that provide them with other value benefits.

We also have an access to International proven Operations Systems, Manuals, Know-how, and Management information Systems that are all customized to suit the needs of the Indian market. This coupled with ongoing field support and training, keeps The Medicine Shoppe® franchisee abreast with the latest marketing and operation techniques that equips him not only to face competition but also to surpass it.

value added products & services.
 
A.2
The professional health acre segment apart from being one of the fastest growing segments in the country is also one of the most respectable one to be in. The general lack of quality health care accessible to the common man coupled with the fact that the Indian consumer is becoming more and more health-conscious has fuelled growth in this segment. The Indian health care industry, which is at Rs. 83,000 crore today is poised to grow at a phenomenal rate of 18% pa. With such enormous potential waiting to be exploited it is time that businessmen such as you enter this industry and take your share of this spectacular growth. This growth will be further accelerated with health insurance being opened up to the private sector with Global Insurance Providers participating in the same. These companies definitely tie-up with globally organized and professionally managed pharmacy chains such as The Medicine Shoppe®. This would mean a steady and captive business, which for you would translate only into – Higher Sales and Higher Profits.
 
The grim statistics given below give an idea of how rapidly the health care system will grow in near future.
 
4 crore diabetics in India today likely to go up to 25 crore by 2025.
7,00,000 new cancer patients added every year.
1.4 crore TB patients in India today.
12% of annual household income is spent on healthcare. Of this 60% of 7.2% is spent on medication.
7.5% of population is senior citizens, which was 6.9% in 1990. By 2020 India will have the second largest senior citizen population in the world.
Private expenditure in health care is growing up at 27%.
15% of the adult population
 
Smart business can obviously see the opportunity that this market offers and not only grab it but cash in on it. As a Medicine Shoppe Franchisee you will be among the select few who will have the power and conviction to look into the future and not only understand the fast changing Healthcare Market Place but also profit from it. Most importantly as a Medicine Shoppe franchisee you will be in the driving seat of the Healthcare revolution, a leader in your peer group, defining standards that others in the industry can only aspire to achieve.
 
A.3
Besides an investment of Rs 8-10 lacs (varies depending on the city/town, 12 lacs for the Sehat format), the shop site is of prime importance. Your outlet should be located in a predominantly residential area (rented/owned) with a minimum area of 250 square feet carpet area for existing chemists, 350-450 sq feet carpet area for entrepreneurs and 600 square feet carpet area for entrepreneurs interested in the Sehat format ground floor retail space.
  Your shop interiors will include (the investment includes the following:
    •  Flooring
  •  Air-conditioning
  •  False ceiling
  •  Signage
  •  Refrigerator
  •  Hardware
  •  Furniture and fixture etc
  •  Stocks (Working capital)
  •  Fees
  Pre-opening supports and services
 
•  Brand and operational system – Location exclusivity
•  Systematic and careful site selection and evaluation procedure
• 
Interior designing – Standardized store set up, unique identity that echoes the global chain.
•  Evaluation procedures, which take care of present and future growth plans.
• 
Financial analysis on the project cost for optimum utilization of funds (Capital investment)
•  Conversion support
•  Centralized franchise service centers
•  Training programs before starting the business
•  Complete assistance on setting up your shop
•  Consultancy on retail management, training on shop practices etc
•  Guidance and support on different shop setting procedures and issues
• 
Guidelines on right product mix in the shop as per demographic and geographic aspects of the market
  Post-opening supports and services
 
•  Ongoing help and support – Continuous field support through regular visits by our operations and marketing executive
•  Operational support – Ensuring satisfaction to you as well as your customers
• 
Computerized inventory control to maximize your profits
•  Business consultancy
• 
Merchandising aids
• 
Tie-ups and collaboration on mutual benefits with various healthcare services/products providers.
• 
A team of professional to organize your business, reducing business establishment cost and time
 
A.4 Your money will be spent on two fronts:
  • Brand operating system infrastructure
  • Infrastructure and ongoing support
 
Being a Medicine Shoppe franchisee you get exclusive rights to use The Medicine Shoppe® brand name along with ongoing support and services in your specified territory for the specified contract period.
 
A.5
Yes. To convert an existing shop to a Medicine Shoppe outlet you get the professional support of a world-renowned brand – The Medicine Shoppe®. After converting, you get the support of The Medicine Shoppe® to further enhance your business and thrive against competition.
 
A.6
It takes an average of 45-60 days from the date of signing the agreement to the shop opening.For quick and smooth progress, the entire time and finance schedule is decided upon mutually, immediately after you sign the agreement.
 
A.7
No, you’re not alone, but at the same time you are independent. Right from scientific site selection stage to starting the business, you get the rights to use the brand name (The Medicine Shoppe®) and the operating system. An understanding between you and us where in we, who have developed a proven method of operating and managing a pharmacy successfully, gives you the right to operate under the brand name exclusively in your territory for a period of 14 years. During this time, the ownership of the retail space remains with you along with the backing of an established retail chain. Moreover, you will always be in the enviable position of being the first to own the most modern & scientific pharmacy retail chain in your area.
 
A.8

Besides investment criterion, we are looking for people who are self-driven and love challenges. Perseverance and dedication to sustain a high degree of involvement in managing ones own pharmacy. Once accepted, all franchisees must attend The Medicine Shoppe® ® Training School to learn The Medicine Shoppe® ® Operating System.

You can either convert your existing shop to a medicine shoppe outlet, or open a brand new pharmacy, but it is important that you share our values of constant customer service and patient care.

 
A.9
Yes, multi-store ownership is available and we encourage proven franchise owners to open multiple locations through our multi-store discount programs.
 
A.10 Please get in touch with us at the specified contacts
 
A.11 Yes.
 
A.12 5 years.
 
A.13

Yes, for another term of 5 years.

 
     

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