How to Start a Genericart Franchise – Cost, Fee, & Profit

Are you looking for a Generic medicine franchise? Do you own a medical shop and still not satisfied with the growth or sales? If given, would you be ready to be a part of an affordable Pharma franchise? Then, Here is some GOOD News for YOU!

There is no exaggeration to state the Generic medicine market is booming in India and has provided stupendous growth for the last few years. Additionally, Sheer exposure, rising demand, and government policies have helped the Generic Medicine Market to make medicine more affordable and accessible among Indians.

I assure you that after reading this complete article you would be in a position to choose the BEST AVAILABLE PHARMA franchise and start your entrepreneurial journey with the best one.

Yes, You read it correctly. In this article, we’ll deep dive into the Genericart Franchise along with its capital required, cost, and profit margin to start this franchise in your city – and answer some of the most asked questions for this chain.

• Brand: Genericart Medicines Pvt. Ltd
• Founded: 2015, Miraj
• Model: FOFO & COCO
• No. of outlets: Over 1000
• Space required: Min. 120 sq feet
• Profit Margin: 40% – 50%
• ROI: 1-2 yrs
• Total Initial Investment: Rs. 10 lacs – 20 lacs

Overview of Genericart Franchise

Started in July 2015 in Miraj, MH(India) from a small medicine shop by Shripad Kolhatkar & Salim Sayyed, Genericart is one of India’s leading and rapidly growing pharmacy chains, offering a wide range of generic and affordable medicines, along with this, they also provide patient counseling, affordable fasting blood sugar test, free BP monitoring.

Having a bold mission and vision to cater medicines at lowest rate, make medicines more affordable and accessible has allowed the Genericart to acquire and expand its outlets to multiple location pan India.

At present, the franchise boasts over 1000 franchised outlets, where some of them are franchisee operated and remaining are company operated. The Genericart also has a strong supply chain that allows them to cater across its outlet in given timeline.

Please continue reading if you are passionate about Pharmaceutical franchises & this little snippet about Genericart excites you.

We will offer comprehensive and well-researched information regarding the Genericart chain, along with its price, fees, profit margin, and—most importantly—the reason “Why“ you need it.

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Genericart – The Journey

Their humble beginning started with a single outlet in a small city in Maharashtra to being one of the leading and rapidly growing pharma’s franchise chain that has over 1000 medical unit is undoubtedly inspiring.

Key facts about Genericart

Why Choose a Genericart Franchise?

If you are familiar with pharma industry then you might be aware of humongous potential for the Generic medicines. However, if you are new to this industry, then below are some of the prominent reasons to own it;

1. Demand for Generic Medicines:
   • There is no denying that the Generic medicines market is certainly booming as the government has initiated several programs to make medicines accessible to all.
2. Low startup cost:
   • Setting up a Genericart medicine franchise will cost anywhere less than Rs. 10 lacs, making it a most affordable pharma outlet franchise for interested applicants.
3. High profit margin:
   • The franchise provides a better profit margin to its unit holders. It can help new franchise owner to save a few extra bucks.
4. Rising Awareness:
   • Government policies, growing market demand, and awareness among individuals will undoubtedly help this market to grow further.
5. Established Brand:
   • They are one of the first generic medicine brand to obtain a franchise model for expansion across Indian cities.
6. Continuous development:
   • Genericart does provide all-round support for its franchisee. Some of their support includes Product development, Training & Transport services, and IT & Marketing Support.

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How much does a Genericart Franchise Cost?

Starting a Genericart outlet will not hit your pocket. However, the cost to own one may differ depending on the city and outlet’s geographical location.

Nonetheless, To become a Genericart franchise partner, one would at least require an initial investment of 8 to 10 lakh rupees with expandable capital of Rs 3 to 4 lakh. And it can/should be operated at high street, city center, or near to any hospital or medical hub.

FYI, the above-mentioned initial investment for the Genericart business does cover the expenses or fees such as Brand deposit fees, Marketing Fees, Equipment, and other necessary expenses.

However, the franchise does offer multiple franchise model to its interested applicants;

Unit Franchise

1. Investment: Rs. 8 lacs – 10 lacs
2. Profit margin: 40% To 50 %
3. Space required: 120 Sq Ft – 200 Sq Ft

District Franchise

1. Investment: Rs. 14 lacs – 16 lacs
2. Profit margin:
   • Revenue On Unit Franchise Appointment – 40% On Franchise Fees 
   • Revenue On Unit Franchise Products Sales – 5% On Unit Franchise Outlet Products Sales 

State Level Franchise

1. Investment – INR 20 L – INR 55 L  ( 250 – 900 Franchisee Outlet Coverage )
2. Profit Margin:
   • Revenue On Unit Franchise Appointment – 20% On Franchise Fees
   • Revenue On District  Franchise Appointment – 20% On Franchise Fees
   • Revenue On Unit Franchise Products Sales – 5% On Unit Franchise Outlet Products Sales

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Is Genericart Franchise Profitable?

Well, we certainly believe so.

The profitability of the Genericart outlet may vary depending on several factors, such as the city, the outlet’s geographical locations, average customer footfall, and the capability of the franchise owner to handle its day-to-day operations and expenses.

Additionally, considering the Genericart chain’s presence across Indian cities, growing customer base & Outlets, rising awareness of Generic medicine, and affordable pricing, one can undoubtedly earn a good profit margin with this franchise.

However, as per our estimate and understanding, the franchise owners may anticipate a profit margin of 40-50% or Min. Rs. 50,000 -70,000 per month from Genericart Medicine Franchise.

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What are the requirements to Become a Genericart Partner?

Some of their major Genericart franchise requirements are listed below;

• First and most important – One should have the required funding to own a Genericart medical outlet, that is one should be ready to invest anywhere between Rs. 8 lacs to 10 lacs.
• Interested applicants should have passion to work in the Pharma industry –  and should possess the necessary leadership and financial skills with a few years of experience in this industry.
• Applicants should be capable of hiring 1 or 2 pharmacists & Minimum space of the outlet should be 150 sq feet ( Basement or semi-basement not allowed)
• Interested applicants are advised to dedicate themselves to the Genericart business and follow the company standards and maintain their legacy.
• Interested applicants must undergo and complete the necessary training program offered by the franchise.
• Prospects are advised to do the proper marketing and site research, which will help them to understand the market potential and would certainly boost your morale.

Documents required to Start a Genericart Medicine Outlet

• Personal Documents – Aadhar and Pan Card
• Bank Passbook
• PD cheques – If necessary
• GST License and other necessary stuff
• Brand agreement
• Store agreement Paper
• Medical License
• Local municipality authorization

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How to Get Genericart Franchise?

Becoming an approved Generic outlet owner requires a low investment that offers an impressive gross profit margin. Nevertheless, the Genericart chain may provide several benefits, and interested candidates can take up franchise outlets in their city through their expertise and endless support systems.

To become an approved Genericart partner, one can go ahead with the following steps;

1. Visit their official website and fill up the necessary form.
   • You need to fill in details like Name, Address details, Email Id, Phone number, Annual income, Investment range, and other required info.
2. Or, Fill in the below details;

Final Takeaway

Started in 2015 with a single outlet in Miraj, MH(India), Genericart is one of India’s leading and rapidly growing generic medicine pharma franchises. Currently, the chain boasts over 1000 plus outlets across India, and plans for further expansion of its outlets will create tremendous opportunities for Interested applicants to join in the ever-growing industry.

However, considering the chain’s robust presence, affordable pricing, growing franchisee network, low startup cost, rising generic medicine demand, and growing customer base adds an extra advantage for the new franchisee unit holder.

With an Initial investment of Rs. 8 lacs – Rs. 10 lacs, the Genericart chain may offer an outstanding profit margin to its stakeholders and one may anticipate a profit of 40 -50% Or an earning of over Rs. 50,000-70000 per month.

The Bottom line – In case you are interested in the Pharma industry and want to take advantage of the opportunity with low investment, then you can start a Genericart Pharma franchise in India. With its immense legacy, expertise, and robust supply chain, one may experience stable and steady growth in their entrepreneurial journey.

So, what are you waiting for? Go and start your entrepreneurial journey with Genericart!!

Good Luck!! Happy Franchising!!

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