FAQ

Why Pharmacy Business?

  • Medicines are a vital part of our lives just like food, clothing and shelter. Surely, it’s time to update the saying of “Roti, Kapda aur Makaan” with “Davaai”
  • The operation of pharmacies is year-round and not seasonal
  • The business of Healthcare is recession-free. A person or family may do cost-cutting on many products but they are bound to purchase medicines on a regular basis to ensure good health
  • Success in the business of pharmacy is faster to achieve as compared to other business. The two key elements that a pharmacist needs to assure to gain success are managing the stock and ensuring that necessary products are available quickly. 

Is the future of pharmacy business prosperous? Will it stay attractive?

  • The demand for healthcare and wellness products is on a rise now than ever before. With a change in lifestyle conditions and an increase in the average life span, people have been gravitating towards medicines, surgical items, healthy supplements and wellness products, across the country
  • Reports and market surveys have disclosed that the size of the Indian pharmacy market currently is about Rs. 80, 000 Crores. Moreover, the size of the market is expected to cross Rs. 1, 60, 000 Crores by the end of year 2020
  • ZedMed, an organized retail pharmacy chain, is gaining market share year on year
  • It has been forecasted that the retail pharmacy industry is expected to grow around 20% year on year. Also, the market share of the organized pharmacies is expected to grow around 30%, by the end of the year 2020

What are the various operational activities involved in a retail pharmacy business?

  • The business of retail pharmacy is very similar to that of a trading business
  • The two main operations involved in running a retail pharmacy consist of sourcing the required medicines and other essential products from authentic suppliers at the right price, and then selling those medicines to the end consumers via a retail counter

In order to successfully execute this, a pharmacy should be well equipped with:

  1. Analyzing the demand requirement for products in a specific area
  2. Ensuring that an adequate amount of stock levels are maintained at all times
  3. Ensuring that there is minimum stock loss due to reasons such as expiry, damage, theft or pilferage
  4. Identifying authentic suppliers for all the product requirements
  5. Negotiating payment terms as well as pricing of products with suppliers
  6. Timely procurement of the products
  7. Completing the necessary legal registrations, documentations and other procedures to fulfill the laws of the state and drug regulatory authorities
  8. Regularly maintaining a record of sales data, customer details, and stock-outs
  9. Timely updating stock as per customer’s demands
  10. Efficiently managing the staff members working in the pharmacy
  11. Carefully analyzing cash flow with proper understanding of costs, revenue, profit and loss
  12. Ensuring customer satisfaction with efficient service
  13. Generating leads and brand awareness by optimal marketing and promotional strategies

Why ZedMed Franchise?

  • ZedMed is a renowned and well-trusted for its numerous benefits and solidarity towards its customers
  • ZedMed is India’s Fastest Growing retail pharmacy and that too in the shortest span of time
  • ZedMed intends to open at least 25 stores in its Phase I i.e. 2019-2022 currently creating its foundation from Gurgaon.
  • ZedMed is reputed in the industry for offering an excellent range of authentic medicines and other products, a dedicated customer service, and great value for money

As a ZedMed Franchisee

  • You will be carrying the success of ZedMed with an assured income in a reputable way
  • You will be backed with the best information and training. You will also receive immense support from our end on managing and running a huge pharmacy. ZedMed’s strong knowledge and experience in operations, sourcing along with execution capabilities are going to ensure that you remain ahead in the business
  • You will get the chance to operate pharmacy of a highly recognized brand with a huge assortment of medial and general products at an extremely reasonable investment of Rs.17 Lakhs to Rs.20 Lakhs
  • You will be able to generate a great volume of business which will be higher than any competitive brand. ZedMed’s great customer base due the brand’s pull and attractive Loyalty Reward Program and Discount Schemes.
  • You will get the chance to benefit from our high-quality private label brands which carry a high margin that will ensure that you make a massive profit

What are the advantages of a ZedMed Franchise in comparison with an independent pharmacy store?

With a ZedMed Franchisee, you are surely going to have an unmatchable advantage to address the below mentioned challenges which are usually faced while operating in the industry:

Challenge 1: Sourcing high quantity of Products (SKUs) from an extremely fragmented market

To manage hundreds of products and brands effortlessly, with respect to sourcing, stocking, and payments along with managing sales and staff members.

Advantage as a ZedMed Franchise:

ZedMed’s efficient process will easily handle all of the aspects related to stock with just a click of button. You will be only required to then focus on your counter sales, customer services and staff management

Challenge 2: Proper inventory planning

A successful pharmacy always has all the requested products available at right time. On the other hand, poor inventory planning leads to excessive losses due to unsold or expiry stock.

Advantage as a ZedMed Franchise:

At ZedMed, we ensure that you don’t have to go through any such hassles as we provide automated inventory management and ordering as per local demand in order to avoid additional capital investment needs and minimize losses.

Challenge 3: Low-quality and authentic medicines

Low-quality medicines are easily available in the market due to an unregulated and disorganized supply chain. To ensure that this doesn’t happen requires a tremendous amount of investment in process and experience.

Advantage as a ZedMed Franchise:

  • ZedMed minimizes the risk of such an event from happening as we directly get all the products from manufacturers and authorized distributors only
  • The received stock is then safely kept in adequate storage conditions while warehousing and transporting the products to the pharmacies

Challenge 4: Competition

Competition in pharmacy business is high as it is a comparatively low-risk taking business with a high return on investment.

Advantage as a ZedMed Franchise:

ZedMed is a pharmacy brand which is known for its reliability, quality products and availability of attractive discounts and loyalty schemes. Furthermore, ZedMed provides up to 17% savings from time to time on medicines which an independent pharmacy won’t be able to offer.

Challenge 5: Profitability and Gross Margin

Many products which are sold at pharmacy carry quite low trade margins. To solve this, an independent pharmacy requires to source products from a lower priced private label with efficient quality, this can happen only as long as the stock ordered by pharmacy is in high volumes.

Advantage as a ZedMed Franchise:

ZedMed is able to provide a huge assortment of high quality private label products as the brand has a huge scale. Thus, the brand can easily offer both medical and general products with a higher margin.

Challenge 6: IT systems & technology support

To streamline activities and ensure better working, pharmacies are require easy to operate, tamper proof, transparent MIS technology and billing systems whose procurement is usually expensive and their working is quite difficult as well.

Advantage as a ZedMed Franchise:

At ZedMed, we want our franchisees to work in an effortless manner. To ensure this, we provide all the systems and technological support required to handle the pharmacy – sales, purchases, customer records.

Challenge 7: Investment Capital

A capital investment of Rs.22-25 lakhs is needed to start an independent pharmacy similar to the standards of a ZedMed store.

Advantage as a ZedMed Franchise:

With ZedMed, you be required to invest only 16-18 lakhs, as ZedMed has standards set and a list of fast moving initial inventory already in place to get the Franchisee going from day one.

What support does ZedMed provide to the franchisee?

  • Assistance in selecting the ideal location for the store
  • Assistance with store identification and lease finalization
  • Assistance in acquiring a Drug License mandatory for a pharmacy
  • Entire planning related to layout of the store along with the branding materials, furniture and systems etc required
  • Assistance in hiring of the required staff and pharmacist for the franchisee
  • Efficient training for operating the franchisee and staff members
  • Assistance in procurement of wide range of products with minimal capital investment
  • Excellent operational support
  • Assistance in monthly Physical Audits

What is the eligibility criterion to be a franchisee or who can become a franchisee?

Basic Profile:

  • Individuals willing to work with utmost dedication and diligence
  • Willing to manage the various pharmacy operations on their own even without employees
  • Should have knowledge of basic mathematics and understanding of margins, profit & loss, and trade terminology

Education & Experience:

  • Qualification in pharmacy is helpful, not mandatory although
  • Candidate with a minimum education of SSC or Intermediate level education
  • Experience in pharmacy or managing a small business will be favorable

Investment Capacity:

Financial ability to invest around Rs. 15-18 lakhs

What are the locations in which the franchises are offered?

ZedMed franchises are soon going to be available across India. However, in the current phase, franchises are available only in the states of New Delhi, Gurgaon in the first phase

Location & Premises Criteria:

 The criteria for selecting a ZedMed store would be a minimum area of 250-300 Sq.ft. in a main or prime market area along with good frontage and unrestricted access to the premises.

What are the investment details for a franchise store?

The total investment required for a ZedMed franchise is about Rs.15 to 18 lakhs, the amount will vary depending on the location, size and condition of the premises. This investment will cover franchisee fee, refundable security deposit to premise owner, interiors, storage racks, furniture, computer systems and printer, branded stationary and initial inventory.

Out the total investment amount, the franchisee owner should be able to invest Rs.6-7 lakhs on his own. To obtain the remaining balance as a loan from any bank, the franchise owner requires a collateral of around 10 lakhs.