In this Era the medicines have become an important part of our life. We are using medicines in our daily life, even if we don’t need them.
Even if we have very modest symptoms of any disease we quickly intake the medicines which is bad no doubt but also works in most cases.
Even if you don’t have any symptoms of any kind of disease we intake medicines as for example if anyone eats too much food in any party or function they will take a table to ensure that they don’t have loose motion even if they don’t know they are gonna have or not.
Only talking about India Indian spend around 1.5 trillion Indian rupees on their health which is around 1.28 % of GDP. In that 1.5 trillion Indian rupees a major part of that much money is spent on medicines.
Because in most of the cases people directly rush to the medical shops for medicine without even consulting the doctor this practice is very common in India in both rural and urban areas.
So, now you are seeing the potential in this particular market. If you also want to enter this market then there are some companies which have opened their franchise and made this option very easy for you.
One of the biggest and most successful companies is Apollo pharmacies. The Apollo pharmacy has earned their name and respect in the market. So if you are a beginner then this is the best option for you and throughout this article you will learn why.
Let’s have a look how it begins[History of Apollo Pharmacy]
First let’s know about their history because this will give you a brief information about the company and through that information you can determine how the company really is should you go with this company or not.
Apollo pharmacies is one of India’s first pharmacy networks originated from Apollo Hospitals group. It is like a branch of Apollo hospitals. Apollo pharmacy was founded by Dr. Prathap C. Reddy in the year of 1983.
For this revolutionary action the Apollo hospital group was honoured by India’s second highest civilian award that is Padma Vibhushan. And currently Suneeta Reddy with her three sisters around a decade ago has taken control over executive functions of Apollo hospital.
Apollo pharmacy has spread its reach around 18 different states of India. They have more than 3500 outlets in these states.
The company stores more than 5000 products in which 400 products are exclusive of the Apollo pharmacy brand. This not only includes medicines but also includes other products like vitamins, health supplements, baby care etc.
One of the special things about these stores is that they are open 24X7 that is 24 hours a day and 7 days of a week even in festivals and holidays they are at your service. So, if anybody has an urgent need for medicine he or she can rely on Apollo pharmacy stores.
USP of Apollo Pharmacies
USP stands for unique selling proposition it shows how much a company’s product is doing in the market as compared to its competitors.
And the USP of the Apollo franchise is quite high. One of the biggest features is that company sales are both online and offline. You can easily visit the company’s website and upload your prescription and then you can browse all the medicines you want.
There are also many payment options available to choose from.
Now let’s talk about the most important aspect of this article that is profit: how much you will earn by owning Apollo pharmacy franchise is it even worth to invest money on it or not.
Well first of all there is no exact number of how much Apollo pharmacy franchise owners are earning. But the earning model is based on percentage margin.
You will sell medicine and you will get your cut. Now that percentage can be very versatile according to different products and medicines.
World talking about percentage Apollo hospitals reported a massive growth of 71 % in their Apollo pharmacies business.
The Apollo pharmacy stores contain a lot more than medicines and if you only talk about medicines their market is not going anywhere. The prices of medicines always increase with time. So, we can say that the earning potential is unlimited.
How to start Apollo pharmacy franchise in your area
So, now you have understood the potential of this area. Now latest talk about how and where to get started.
First thing first you need to have a licence because selling medicines without having a licence is a serious crime.
There are two types of licence in this area one is Retail drug licence required to operate retail pharmacy shop and the other is wholesale drug licence to run wholesale business of drugs.
In order to apply for a licence you have to go to the pharmacy board and apply for licence by getting registration done. The other kind of registration you need to do is GST registration for building purposes.
In order to get your licence you must have these following documents.
- ID card like Voter ID,Pan Card, Adhaar card, Driving licence etc . You also need to have your address proof so that you can use the electricity bill recipe.
- Application form, declaration certificate.
- Affidavit of a registered pharmacist.
- Proof of ownership of the required premises, a blueprint for the premises and possession.
So after getting your licence the other important aspect is the amount of skill and experience. There are different criteria of gaining experience which are approved.
First one is that you should be approved by the pharmacy department. Another one is you should have at least one year experience in handling drugs or if you are passed in S.S.L.C with a 4 years experience in drug management specially approved by the department of drug control.
Or you should have a postgraduate professional degree (Pharm.D) and background in medical. But having these degrees is not enough you should have to keep studying throughout your career to keep yourself updated about new disease and new medicine.
Now let’s talk about staff requirements, how many staff you will need and what their qualifications are in order to work with you. Then minimum staff required is 2. They must be qualified pharmacists.
No medicines should be sold without permission of a qualified pharmacist. A most experienced pharmacist must have to work in a pharmacy in order to help and guide other staff.
To open a small pharmacy you need to have an area between 10 to 15 square metres and to open mega stores which is a combination of both retail store and wholesale store you need to have more than 15 square metres.
Along with the area there are some important things which will be a must in your pharmacy. There should be an organised place in order to store medicines, so that they can be identified easily when the time comes.
There should be proper air conditioning and having a facility of refrigerators in some medicines required very low temperature. In which all these shops must have a billing counter with a proper computer and a printer.
The chosen area should be in a crowded place in order to boost and maximize the earning. Some of the best places are residential complexes or near hospitals.
How to invest so you can start your own Apollo pharmacy in your city?
The investment required is around 5 lakhs to 10 lakhs. And for the megastore investment will be around 10 lakhs to 15 lakhs.
If you have your own area where the store is located then it is best but if you are paying the rent then it will cost you around ten to twenty thousand per month. Or if you are planning to buy that area then prices will vary according to different states but it will be around 15 lakhs to 20 lakhs.
The first stock of investment will be around 50 thousand to 1 lakh which will be needed to restock time to time. Plus the refrigerator will cost around ten thousand. The other items like furniture, decoration, air conditioner, computer, printer will cost around 3 lakhs.
The documentation will be around Rs 2500 including licence and 3000 registration fee.
The average salary of pharmacist staff will be around 1.5 lakh to 2lakh per year.
Frequently Asked Questions Related to Apollo pharmacy.?
In order to apply to become a franchisee of Apollo follow these steps.
Visit the official website.
After that fill up the form applying for franchise. It will just require some personal information. Like phone number, email, address.
After the form is being submitted it will be reviewed by the company employee and then they will contact for the future proceedings.
According to the company Vice President Mr. Atul Ahuja the company is growing with a rate of 30-35% every year. And adding around 250 new outlets every year.
Address : 65/68, Murugesa Naicker Complex,
Loyal Tower 3rd Floor,
Chennai – 600006.
Contact Number : (044) 28245800
Official Website : www.apollopharmacy.in
Indian pharmaceutical market has bumped with boom. It has a growth rate of 17% over the past years.
The Indian pharmaceutical market is worth $18 billion and still growing. The growth percentage will increase upto 25% in the upcoming 5 years and then the market will be around $ 50 billion.
That is so much that even some countries’ GDP are not even equal to it.
India has also called by the name world’s pharmacy many times by different countries even by the European union.
If you are reading this article that means either you are here for knowledge or curiosity or you really are gathering some information to open your own franchise.
I will say this is the perfect time to join the market, help people and earn a handsome amount of money. Apollo pharmacy is a good option to enter in the market since it has a big brand name and the amount of trust the people have in them.